Home » ALICE Technologies extends Series B funding

ALICE Technologies extends Series B funding

by Maryam Bint-Kazam
ALICE Technologies extends Series B funding, finance

ALICE Technologies has extended its Series B funding round by an incremental £10.5m with equity financing from Swire Properties, plus a term loan from Bridge Bank. 

The world’s first AI-powered construction optioneering platform, ALICE helps general contractors and owners worldwide to leverage the power of artificial intelligence to plan, bid and build their large-scale industrial, infrastructure and commercial projects more efficiently and with reduced risk. 

Vincent See, general manager of New Ventures and Digital Transformation, at Swire Properties, said: “Through construction optioneering, ALICE has a huge opportunity to change how capital projects are built worldwide, like its work on the HS2 project across the UK.

“The ALICE platform gives general contractors and owners the ability to create thousands of potential construction schedules for a project in an afternoon and then run ‘what if’ analysis on the most promising options to determine how different choices or constraints affect project outcomes.

“For an industry accustomed to developing construction plans with tools like Excel and P6, ALICE provides an entirely new level of capability.

“We see a big future for this company and are excited to help propel their growth.“

ALICE CEO René Morkos, said: “Customers worldwide, including the UK, are putting the ALICE platform to work on projects that range from tunnels to data centres, from high rises to oil and HS2 projects.

“As they expand the variety and number of projects they use ALICE, we must scale to meet demand.

“This additional financing from Swire Properties and Bridge Bank will help us to continue to build our team and product as we drive to make ALICE an industry standard.”

This financing extends the company’s Series B round, which ALICE announced in June of 2022, and which was led by Vanedge Capital. Additional new investors included Bouygues, Gaingels, GRIDS Capital, JLL Spark, and MetaPlanet, which joined the round along with existing investors Future Ventures, Merus Capital, and Rising Tide.

Swire Properties is a renowned property developer based in Hong Kong, with expertise in developing and managing commercial, retail, hotel, and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections.

It has investments in Hong Kong, the Chinese Mainland, United States, Indonesia, Vietnam and Thailand.  

Founded in 2001 in the heart of Silicon Valley, Bridge Bank, a division of Western Alliance Bank, member FDIC, is focused on serving the high-growth, emerging companies based in the region with a full suite of banking products and services.

Bridge Bank is committed to “serving visionary clients in their plans to change the world”.

Image: Natee K Jindakum – Shutterstock

Read next: Role of AI on construction sites expected to surge in coming decade

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