Through the use of AI, AICrete is poised to reduce concrete emissions by up to 35% and dramatically increase industry profit margins
RICHMOND, Calif. , September 21, 2022 /PRNewswire/ — AICretethe only recipe-as-a-service platform leveraging local materials for cleaner, more cost-effective concrete, today announced it has raised $4 million in seed funding led by CLEAR Ventures and VoLo Earth Ventures with participation from Cortical Ventures and one of the world’s leading manufacturers of concrete and building materials. As part of their investment, Vijay Reddypartner at CLEAR Ventures, and Kareem DabbaghManaging Partner of VoLo Earth Ventures, will join AICrete’s Board of Directors.
A trillion dollar industry, concrete is the second plus substance consumed on earth after water and is responsible for 8 to 10% of CO2 emissions in the world – more than 4 billion tons of CO2 every year – the same amount of global emissions produced by passenger cars and three times that of aviation. The changing availability and variability of concrete raw materials as well as environmental conditions lead to inconsistencies in performance and appearance, leading to additional production costs and customer dissatisfaction.
“The concrete industry is at a crossroads that requires it to innovate and optimize. AICrete’s mission is to accelerate the advent of concrete that is predictable, cost effective, durable and sustainable in real time,” said Parham Aghdasi, Founder and CEO of AICrete. “Through the use of AI, we are able to reduce emissions by up to 35% and at least double profit margins for concrete producers.”
While concrete technology has advanced in quality control and operations, there has been little improvement in productivity over the past few decades. Today, concrete experts with decades of experience use their ‘intuition‘ design mix recipes by varying the proportion of ingredients that are tested for compressive strength and other characteristics. However, the winning recipe is not necessarily the most cost effective or environmentally friendly option. Small concrete producers do not have access to such experts and must rely on external designs based on limited experience and laboratory experiments. As a result, billions of tons of concrete are under-optimized every year, leading to waste and sustainability issues within the industry. Additionally, the skilled workforce and mix design experts in the concrete industry are aging and retiring at a faster rate than the younger generation.
AICrete captures this expert intuition by automating data collection and experimentation with humans in the loop to bring best practices and expertise in optimization and quality control to the entire industry using the ‘IA. Instead of having to wait months to develop and confirm a blend, AICrete’s solution optimizes and validates a blend in days and dramatically reduces material costs and carbon footprint by increasing producers’ current capabilities. concrete and their technical teams to discover and develop more advanced solutions, cost-effective, durable and long-lasting concrete mixes. At the same time, this approach meets all the performance requirements and objectives of concrete producers, contractors, owners and engineers. AICrete combines data and AI with automation and robotics, and aims to perform these real-time optimizations in the years to come. These measures also improve the supply chain issues plaguing the industry.
“In addition to our financing, a leading Fortune 500 building materials company is investing with us,” says Vijay Reddy of CLEAR Ventures. “We see this as a sign of confidence that AICrete has a viable value proposition business model and addresses an unmet customer need. Building such an ambitious data platform requires someone with a mix unique artificial intelligence and domain knowledge We were impressed with the founder’s story; Parham Aghdasi succeeded against all odds.”
“The AICrete technology is an excellent approach and should be of significant benefit to many concrete producers. along with reducing the overall carbon footprint of concrete will drive the need for this type of service to R&D, quality and operations teams across the industry,” said Martin Scheiber, Director of Manufacturing at Clark Pacific, a leading manufacturer of pre-engineered building systems. “AICrete provided us with four optimized blends to choose from; the selected AICrete blend has a cost savings target of 4-5% per cubic meter in addition to indirect R&D cost savings and reduction of our carbon footprint by 17%, compared to the mix we currently use.”
Born and raised in Iran, Parham Aghdasi was banned from higher education because of his Baha’i faith. Avoid raids and arrests while studying civil engineering at from iran Clandestine Bahá’í University, he became their first F-1 student to go directly to the United States. Accepted by the University of Texas, Arlington for graduate study, Parham then undertook a PhD at Berkeley in structural materials, focusing on the development of concrete composites for projects ranging from building efficiency and sustainability in the tropics to deep railroad tunnels in ultra-high speed in Japan. With years of experience in the concrete industry and a background in AI, he came up with the idea for AICrete: using AI to optimize concrete.
AICrete will use this round of funding to expand its fee-based proof-of-concept program to several key concrete producers to showcase AICrete’s current capabilities; expand its database and further improve its predictive machine learning models; as well as automating data collection through the development of software and robotic systems. With these ongoing activities, AICrete will move closer to its ultimate goal of developing AI-powered vertical software solutions for practical optimization that increases efficiencies, profitability, and sustainability.
AICrete reduces both the cost and environmental impact of concrete with a unique approach that leverages machine learning. Our recipe-as-a-service platform works with concrete producers to optimize local materials to minimize their concrete mixing costs and carbon footprint. Located in Silicon Valley, investors include CLEAR Ventures, VoLo Earth Ventures, Cortical Ventures and one of the world’s leading manufacturers of concrete and building materials. Please visit aicrete.com for more information.
About Clear Ventures
With $330 million of capital from a world-class investor base, Clear is a Silicon Valley venture capital firm that helps startup teams win in cutting-edge technologies and services. Founded by seasoned business builders and venture capitalists Chris Rust and Rajeev Madhavan, formerly of Sequoia Capital and USVP and founder of five successful companies, Clear provides capital, connections and business building insights to bold start-up teams so their ideas can become market-leading companies. For more information, visit www.clear.ventures.
About Volo Earth Ventures
VoLo Earth Ventures seeks to accelerate the new energy economy by tackling the planet’s climate crisis at its roots and providing world-class funding and hands-on leadership to early-stage climate technology companies. Flying Earth strives to grow, scale and capitalize on climate solutions with the aim of delivering superior returns on investment and quantifiable carbon benefits. For more information, please visit: www.voloearth.com/
About Cortical Ventures
Cortical Ventures is an AI-focused venture capital firm helping entrepreneurs build the next generation of AI businesses. The company was started by Jeremy Achin (founder and former CEO of DataRobot) and Igor Taber (former Managing Director of Intel Capital, early investor and SVP of Corporate Development at DataRobot). Cortical Ventures’ mission is to invent, incubate and invest in companies that lead the AI revolution. The company is backed by leading institutional investors and venture capital firms, AI luminaries, and leading industry founders and operators.
Si14 Global Communications
+44 7771 926726