UAE: Dubai-based contech Opteam has raised an undisclosed pre-Seed round, led by Plus VC, with participation from Dar Ventures, SIAC Ventures and Oraseya Capital.

The startup will use the new capital to reinforce its AI capabilities, expand its team, and establish its market presence in the UAE and Saudi Arabia, according to a press release.

Established in 2020, Opteam is an innovative AI-driven construction management software designed to help construction teams overcome long-standing challenges and realise their full potential in the ever-evolving construction world.

Ahmed Hegazy, Co-founder and CEO of Opteam, said: "We are thrilled to partner with Plus VC! Having them on board rounds off our extremely strategic group of investors, spanning key players in the construction industry, the MENA region, and the startup ecosystem.”

“Our strategy is to accelerate our growth as the sole platform for generative scheduling in construction. We are very excited to ramp up our activities and make something truly special.”

Tarek Hegazy, Co-Founder and CIO at Opteam, noted: "The Middle East suffers from the highest amount of time and cost overruns than anywhere else globally and is desperate for a solution.”

“We believe that Opteam is perfectly suited to take on this challenge because we are intimately aware of the processes in construction and of the adoption challenges of technology,” he added.

 

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