Hyderabad Startup Uses AI to Cut Construction Delays & Costs
The construction industry has long been plagued by inefficiencies, delays, and costs. From material sourcing to project oversight, many construction projects have faced setbacks due to the lack of a streamlined process. However, a Hyderabad-based startup, ProcureX, is revolutionizing the way construction projects are managed, using AI to cut construction delays and costs.
Launched on May 9, 2024, ProcureX is the brainchild of four entrepreneurs – Aravind Maroju, Narsi Reddy, Thej Kiran, and Bharath Reddy. The startup offers a one-stop solution for material sourcing, project oversight, and planning, utilizing AI to maximize efficiency and minimize delays.
The construction industry is known for its complexity, with multiple stakeholders, vendors, and suppliers involved in a single project. This complexity often leads to delays, cost overruns, and inefficiencies. ProcureX’s AI-powered platform aims to simplify the process by streamlining communication, automating tasks, and providing real-time insights.
According to the startup, its platform can reduce project delays by up to 30% and costs by up to 20%. This is achieved by providing real-time visibility into the project’s progress, enabling project managers to identify potential bottlenecks and take corrective action.
ProcureX’s platform also enables construction companies to source materials more efficiently. With a network of 150 suppliers, the startup can provide construction companies with a vast array of materials, reducing the need for multiple suppliers and minimizing the risk of delays.
The startup’s success is evident in the number of companies that have already onboarded its platform. With 10 companies already using ProcureX, the startup is confident that its platform can benefit construction projects across the region.
In an interview with Startuppedia, Aravind Maroju, co-founder of ProcureX, said, “Our platform is designed to simplify the construction process, reducing delays and costs. We’re using AI to provide real-time insights, enabling project managers to make informed decisions and take corrective action.”
ProcureX’s plans don’t stop at Hyderabad. The startup is looking to expand its operations to Dubai and Saudi Arabia, where it sees a significant demand for construction projects. With its AI-powered platform, ProcureX is well-positioned to capitalize on the growing demand for construction services in the region.
The startup’s expansion plans are a testament to the potential of AI in the construction industry. As the industry continues to evolve, we can expect to see more startups leveraging AI to improve efficiency, reduce costs, and increase productivity.
In conclusion, ProcureX is a shining example of innovation in the construction industry. By harnessing the power of AI, the startup has created a platform that simplifies the construction process, reducing delays and costs. With its plans to expand across the region, ProcureX is poised to make a significant impact on the construction industry.
