Founded in 2016, Doxel leverages the first computer-vision-powered predictive analytics solution for the construction industry. By integrating into existing digital assets such as Building Information Modeling (BIM), Schedule, and Budget, Doxel empowers decision-makers with timely warnings on potential schedule delays, cost overruns, and quality issues which enables owners and General Contractors to increase control over outcomes and deliver projects with higher predictability. While talking with Nitisha from BISinfotech; Saurabh Ladha, CEO and Co-founder, Doxel.AI explains how the company plans to scale its artificial intelligence platform and expand its already-active Go-To-Market function.
Kindly explain Doxel and its special offerings.
Doxel is the only solution in the market that can take video footage of a job site, 3D designs, project budget, and project schedule and tell clients exactly how much progress has occurred on their job site today and how much will occur in a week, a month, or a year. Additionally, based on this data, tell clients how delayed their project will be and how much money this delay will cost. This look into the future is unique to Doxel and enables our clients to proactively mitigate schedule delays and cost overruns – critical when a single week delay can result in millions of dollars of losses.
Some Doxel specific capabilities which we don’t see in the market today:
- Doxel can track all trades and systems
- Doxel can track any project type
- Doxel can track 100% of the site
- Doxel can granularly track progress to the 100th decimal
- Doxel can turn around critical insights every 72 hours
- Doxel predictions are >96% accurate after the second scan
Couple of Industry-specific Notes
- On average (without Doxel) customers receive progress data for their job site every 3-6 weeks
- On average (without Doxel) 20% of the progress data is incorrectly reported
- Typically building owners and contractors (without Doxel) can only track a fraction of the total project (ex. large customer ~15%)
Kindly share Doxel’s technology and benefits of the USPs solution.
This is the part which excites most of us! Given we work at the intersection of Building Information Models, ML-based Computer Vision, big data pipelines & business analytics, we use a large spectrum of tools to build the end-to-end stack. For BIM and CAD, we have built custom plugins on top of standard construction software (like Autodesk NavisWorks). We use managed services from standard cloud providers to power our backend flow (k8s, database, data pipelines, security, etc). Our persistent data is stored at secured cloud storage across multiple services. Spark and Airflow are used for our batch processing data pipelines. For ML, we use Tensorflow and PyTorch frameworks for writing deep learning models. We also use advanced VSLAM techniques to localize panoramas to enable accurate object detection in 2D. Our frontend is powered by React and uses REST APIs to communicate with backend infrastructure.
Tell us about your recent funding, revenues and user base. Also, tell us about the challenges that you have faced in your journey.
We’ve raised $56.5 to date from well-respected VCs to continue developing our platform, hiring talented staff, and better serve our customers. New customers continue to reach out to us with interest and existing customers’ average spend is continually increasing as we’re brought onto more of their projects. We are deeply committed to serving our customers.
The journey actually started with a tremendous focus on customer discovery. We spent time with customers in the industry trying to understand the most important challenges needing to be solved. We first focused on capturing quality data on a job site so owners and general contractors could have visibility into the current job site status. A key learning came from one of our customers which left an imprint on us. This customer said, “telling me what is happening today is good, but come back when you can tell me what is going to happen next.” This was a game-changer for us and started the next three years of product development, customer feedback, iteration, and ultimately large scale customer acquisition – the sole driver of which is our AI-Powered Project Controls platform which can tell owners and general contractors where they are today, objectively, and exactly where they will be in the future in terms of cost and schedule on their project. This look into the future is what allows project teams to improve project performance and mitigate schedule delays and cost overruns, saving millions of dollars per project in the process.
How predictability can keep projects on time and on budget?
By knowing what is around the corner on your project, whether that be days, weeks, or months, you can react to it today. This ability to mitigate problems before they occur is what allows our clients to take proactive measures and avoid delays and cost overruns.
Kindly highlight opportunities in India post Series B funding.
We are continuing to build out the India team which is pivotal to Doxel’s success and also exploring client opportunities as they arise.
Kindly share future plans for the Indian market.
Our India head is one of our engineering leaders and foundational to our technological success. The team in India brings deep technological expertise and construction expertise, especially in the discipline of Building Information Modeling (BIM). Doxel will continue to invest in this team which is pivotal to Doxel’s success. Additionally, our fully integrated India/US workforce has a blended culture which ultimately underpins our success.
Kindly highlight an upcoming project.
We have a host of new clients with exciting new projects – stay tuned as we disclose these publicly if and when possible.