WakeCap Secures $28M to Revolutionize Construction with AI and IoT
Construction tech company WakeCap, based in Saudi Arabia, has announced a successful $28 million Series A funding round to further its innovative AI and IoT solutions for the construction industry.
The funding round, led by UP.Partners with participation from Graphene Ventures and strategic investors from the US, Saudi Arabia, and Asia, was revealed at the Saudi-US Investment Forum in Riyadh.
Founded in 2017 by Dr. Hassan Albalawi and Ishita Sood, WakeCap offers AI-powered, sensor-driven platforms that deliver real-time data and insights to enhance safety, visibility, and productivity on construction sites.
Their rugged wearable IoT devices and enterprise-grade software provide crucial information on workforce attendance and performance, equipment utilization, safety events and alerts, and overall site progress.
To date, WakeCap has tracked over 150 million work hours across construction projects valued at over $80 billion, including major developments with Aramco, NEOM, Qiddiya, and King Salman Park, as well as projects in the UAE, USA, and Japan.
Dr. Hassan Albalawi, CEO and Founder of WakeCap, commented, "WakeCap's ability to gather and act on real-time data from job sites is critical to project oversight and quality control.
This investment marks a pivotal moment in our growth, allowing us to expand globally and deliver deeper insights, faster reporting, and stronger operational efficiency. We’re proud to be building a platform that places worker safety at its core and brings greater clarity to the world’s most complex construction projects.”
WakeCap's solutions have demonstrated significant impact, including a 91% reduction in safety incidents, a 25% increase in site productivity, and a 70% faster response time to workplace incidents. These improvements also lead to optimized insurance costs and better accountability for construction companies.
Adam Grosser, Chairman and Managing Partner at UP.Partners, stated, "WakeCap sits at the intersection of two powerful forces: the global surge in infrastructure investment and the digital transformation of construction. As governments and developers launch multi-billion-dollar projects, WakeCap provides the critical truth layer on the ground—transparency, trust, and real-time insight.” (1)
The new funding will be used to expand WakeCap's presence in existing and new markets, enhance product capabilities with further AI and IoT integrations, deepen integrations with platforms such as Oracle and OpenSpace, and grow engineering, product development, and customer success teams.
Currently operating in Saudi Arabia, the UAE, Japan, and the United States, WakeCap is supported by a global team of 34 nationalities, bridging Silicon Valley innovation with construction needs around the world.
