Hyderabad startup uses AI to cut construction delays & costs
In the construction industry, delays and cost overruns are common pitfalls that can have significant consequences. However, a Hyderabad-based startup, ProcureX, is revolutionizing the way construction projects are managed by harnessing the power of Artificial Intelligence (AI). Founded by Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX offers a one-stop solution for material sourcing, project oversight, and planning, helping construction companies to cut costs, maximize efficiency, and complete projects on time.
In an interview with Startuppedia, the founders of ProcureX highlighted the inefficiencies that plague the construction sector, where delays and cost overruns are a norm. “Traditional construction projects are often plagued by manual errors, missing documents, and inefficient communication, leading to delays and cost overruns,” said Aravind Maroju, Co-Founder and CEO of ProcureX. “Our AI-powered platform aims to streamline the construction process, ensuring that projects are completed on time, within budget, and with minimal errors.”
ProcureX’s platform uses AI to automate tasks such as material sourcing, project planning, and oversight. The platform allows construction companies to create a digital twin of their project, enabling them to track progress, identify potential issues, and make data-driven decisions. The AI engine also analyzes data from various sources, including project plans, schedules, and budgets, to predict potential delays and recommend corrective actions.
The startup’s innovative approach has already attracted the attention of several construction companies, with 10 companies and 150 suppliers onboard. ProcureX is planning to expand its operations to Dubai and Saudi Arabia, where the construction sector is booming.
The benefits of ProcureX’s AI-powered platform are numerous. For construction companies, it means reduced costs, minimized delays, and improved project outcomes. For suppliers, it means increased visibility and transparency, enabling them to plan and execute their supplies more efficiently. For project managers, it means reduced stress and improved decision-making, as they can rely on data-driven insights to make informed decisions.
ProcureX’s success is a testament to the growing importance of AI in the construction industry. As the industry becomes increasingly competitive, construction companies are looking for innovative ways to stay ahead of the curve. AI-powered platforms like ProcureX are helping to transform the construction sector, enabling companies to deliver projects more efficiently, effectively, and sustainably.
In addition to its AI-powered platform, ProcureX is also leveraging the power of blockchain technology to ensure transparency and security in the construction process. The startup’s blockchain-based platform enables construction companies to track the origin, quality, and movement of materials, ensuring that they are authentic and meet the required standards.
The construction sector is one of the most critical sectors of any economy, accounting for a significant proportion of GDP. However, the industry is plagued by inefficiencies, which can have far-reaching consequences. By leveraging the power of AI and blockchain technology, ProcureX is helping to transform the construction sector, enabling companies to deliver projects more efficiently, effectively, and sustainably.
In conclusion, ProcureX’s innovative AI-powered platform is revolutionizing the construction industry, enabling construction companies to cut costs, maximize efficiency, and complete projects on time. With its blockchain-based platform, the startup is also ensuring transparency and security in the construction process. As ProcureX expands its operations to Dubai and Saudi Arabia, it is likely to make a significant impact on the construction sector, enabling companies to deliver projects more efficiently, effectively, and sustainably.
