ALICE Technologies announced that it has extended its Series B funding round by an incremental $13 million with equity financing from Swire Properties, plus a term loan from Bridge Bank, bringing the total value of the Series B funding to $47 million to date. ALICE Technologies’ construction optioneering platform helps general contractors and owners worldwide to leverage the power of artificial intelligence to plan, bid and build their large-scale industrial, infrastructure and commercial projects more efficiently and with reduced risk.

Swire Properties is a renowned property developer based in Hong Kong, with expertise in developing and managing commercial, retail, hotel, and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. It has investments in Hong Kong, the Chinese Mainland, United States, Indonesia, Vietnam and Thailand.

Founded in 2001 in the heart of Silicon Valley, Bridge Bank, a division of Western Alliance Bank, member FDIC, is focused on serving the high-growth, emerging companies based in the region with a full suite of banking products and services. Bridge Bank is committed to “serving visionary clients in their plans to change the world.”

“Through construction optioneering, ALICE has a huge opportunity to change how capital projects are built worldwide,” said Vincent See, General Manager of New Ventures and Digital Transformation, Swire Properties. “The ALICE platform gives general contractors and owners the ability to create thousands of potential construction schedules for a project in an afternoon, and to then run ‘what if’ analysis on the most promising options to determine how different choices or constraints affect projects outcomes. For an industry accustomed to developing construction plans with tools like Excel and P6, ALICE provides an entirely new level of capability. We see a big future for this company and are excited to help propel their growth.”

“Customers worldwide are putting the ALICE platform to work on projects that range from tunnels to data centers, from high rises to oil and gas refineries,” said ALICE CEO René Morkos. “As they expand the variety and number of projects on which they use ALICE, we must scale to meet demand. This additional financing from Swire Properties and Bridge Bank will help us to continue to build our team and product as we drive to make ALICE an industry standard.”

This financing extends the company’s Series B round that ALICE announced in June of 2022, and which was led by Vanedge Capital. Additional new investors included Bouygues, Gaingels, GRIDS Capital, JLL Spark, and MetaPlanet, which joined the round along with existing investors Future Ventures, Merus Capital, and Rising Tide.

Source: PRNewswire