Opendoor Founder Eric Wu Launches AI Startup to Address Construction Labor Shortage
NavigateAI, out of stealth since May, has raised $25 million to build AI copilots for construction workers, backed by Elad Gil, Khosla Ventures and Lennar.
Eric Wu, who founded and led real estate company Opendoor before stepping away from the role in 2022, has started a new venture called NavigateAI, according to TechCrunch. The company has been out of stealth since May.
NavigateAI is building artificial intelligence copilots designed to give construction workers real-time, hands-free guidance through smartphones and Meta's AI glasses, TechCrunch reported.
The startup has raised $25 million from investors including Elad Gil, Khosla Ventures and homebuilder Lennar, according to the report.
TechCrunch said the company aims to address a labor shortage in the construction industry that it described as severe. As an example, the report noted that data center projects alone now require between 4,000 and 5,000 workers apiece.
Further details about NavigateAI's product timeline, pricing or customer base were not included in the available report.
Sources
- Eric Wu’s newest company, out of stealth since May, is going after construction’s labor crunch — TechCrunch
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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