Saudi Arabia's WakeCap Raises $28 Million Series A Funding To Enhance Construction Project Controls And Safety

Today, WakeCap, a leading platform known for integrating sensor-powered project intelligence and controls in construction and oil and gas sectors, proudly announced the successful acquisition of US$28 million in a Series A funding round. This significant financial milestone was led by UP.Partners, accompanied by contributions from Graphene Ventures and several strategic investors from the US, Saudi Arabia, and Asia.

WakeCap's proprietary technology offers a revolutionary approach to managing construction projects by providing live updates on workforce, safety, productivity, and progress. This innovation not only enhances the safety and efficiency of job sites but also marks a significant leap in transforming them into more reliable workplaces.

The platform has impressively tracked over 150 million labor hours and has been deployed in projects worth US$80 billion globally. These projects include notable names such as Aramco, NEOM, Qiddiya, and King Salman Park, and extend to international projects in the UAE, US, and Japan. WakeCap's pivotal role in leveraging data to improve jobsite performance, safety, and accountability has set a new benchmark in the construction industry, ultimately leading to smarter business decisions and lowered insurance costs.

Dr. Hassan Albalawi, CEO and Founder of WakeCap, emphasized the importance of real-time data in enhancing project controls. "WakeCap's ability to capture and act on real-time jobsite data is critical for high-performing project controls," he stated.

Albalawi highlighted that the recent funding would bolster WakeCap's growth and expand its global reach, offering customers enhanced insights, quicker reporting, and improved operational efficiency. He also mentioned plans to strengthen partnerships with major ecosystem players like Oracle and OpenSpace, underlining WakeCap's commitment to prioritizing worker safety and project transparency.

WakeCap's amalgamation of durable hardware and sophisticated software offers uninterrupted live project intelligence, covering aspects from worker access and equipment use to safety notifications and project progress, all without causing any disruption to the jobsite workflow. The system has proven to enhance safety by 91%, increase productivity by 25%, and accelerate incident response times by 70%.

Adam Grosser, Chairman and Managing Partner at UP.Partners, praised WakeCap's pivotal role at the confluence of global infrastructure investment and construction digitization. "WakeCap sits at the intersection of two massive forces — the scale of global infrastructure investment and the digitisation of construction," Grosser remarked.

WakeCap's global growth mirrors the increasing tech collaboration between the United States and Saudi Arabia. Notably, it is among the first Saudi-origin startups to acquire a Silicon Valley tech company. Presently, WakeCap operates in Saudi Arabia, the UAE, Japan, and the U.S., with a diverse team of 34 nationalities.

Nabil Borhanu, Founder and Managing Partner at Graphene Ventures, lauded WakeCap's vision for the future of construction as "intelligent, connected, and global." Borhanu reiterated Graphene Ventures' continued support for WakeCap, recognizing its potential to lead the industry's transformation with its innovative platform, mission-driven culture, and strong partnerships across various sectors.

The newly secured funds will be directed towards expanding WakeCap's market presence, enhancing product features, and fostering more integrations with leading industry platforms. Moreover, WakeCap plans to recruit additional talent in engineering, customer success, and product leadership roles.

In the context of a burgeoning global infrastructure investment, particularly with Saudi Arabia's nearly $1 trillion investment in construction and urban development, WakeCap stands uniquely positioned at the nexus of AI, IoT, and industrial transformation. This synergy of Silicon Valley innovation with Saudi-scale delivery propels WakeCap as a frontrunner in redefining the construction industry landscape.