Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry is notorious for its inefficiencies, with delays and cost overruns being common occurrences. However, a Hyderabad-based startup, ProcureX, is looking to change that with the help of artificial intelligence (AI). Launched on May 9, 2024, ProcureX offers a one-stop solution for material sourcing, project oversight, and planning. With 10 companies and 150 suppliers onboard, the startup is poised to expand its operations across Dubai and Saudi Arabia.
Founded by Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy, ProcureX aims to tackle the inefficiencies in the construction sector by leveraging AI-powered solutions. The company’s platform uses machine learning algorithms to streamline the construction process, reducing delays and costs.
“Construction projects are notorious for their complexity, and delays and cost overruns are a common occurrence,” said Aravind Maroju, co-founder of ProcureX. “We saw an opportunity to use AI to optimize the construction process, making it more efficient and cost-effective.”
ProcureX’s platform is designed to simplify the construction process by providing a single interface for material sourcing, project oversight, and planning. The platform uses AI-powered tools to analyze data from various sources, including construction plans, materials, and labor schedules, to identify potential bottlenecks and inefficiencies.
“For instance, our platform can analyze construction plans and identify potential delays caused by material shortages or labor availability issues,” said Narsi Reddy, co-founder of ProcureX. “We can then provide real-time alerts to project managers, enabling them to take corrective action and avoid delays.”
One of the key benefits of ProcureX’s platform is its ability to reduce material waste and improve supply chain management. The platform uses AI-powered algorithms to optimize material sourcing and logistics, reducing the risk of material waste and delays.
“Construction projects often generate a significant amount of waste, including materials and labor,” said Thej Kiran, co-founder of ProcureX. “Our platform is designed to minimize waste and improve supply chain management, reducing costs and environmental impact.”
ProcureX’s platform also provides real-time project monitoring and tracking, enabling project managers to stay informed about project progress and make data-driven decisions. The platform’s analytics capabilities provide insights into project performance, enabling project managers to identify areas for improvement and optimize the construction process.
“Real-time project monitoring and tracking are critical components of our platform,” said Bharath Reddy, co-founder of ProcureX. “By providing project managers with real-time insights and analytics, we enable them to make data-driven decisions and optimize the construction process.”
With 10 companies and 150 suppliers onboard, ProcureX is poised to expand its operations across Dubai and Saudi Arabia. The company’s platform is designed to be scalable, enabling it to accommodate projects of varying sizes and complexity.
“We believe that our platform has the potential to transform the construction industry,” said Aravind Maroju, co-founder of ProcureX. “By leveraging AI-powered solutions, we can reduce delays and costs, improve project outcomes, and make the construction process more efficient.”
ProcureX’s success is a testament to the potential of AI-powered solutions in the construction industry. By leveraging machine learning algorithms and real-time data analytics, the startup is poised to revolutionize the way construction projects are managed.
As the construction industry continues to evolve, it’s likely that we’ll see more startups like ProcureX emerging, leveraging AI-powered solutions to improve project outcomes and reduce costs. With its scalable platform and experienced team, ProcureX is well-positioned to lead the charge.
