Saudi-born, Dubai-headquartered, construction technology startup WakeCap has secured $28 million in Series A funding led by US-based UP Partners, with participation from Graphene Ventures and strategic investors across the U.S., Saudi Arabia, and Asia, it announced on Tuesday at the Saudi-US Investment Forum. The investment will fuel the expansion of its sensor-powered project intelligence and controls platform beyond its current operations in Saudi Arabia, UAE, Japan, and the United States.
Founded in 2017 by Dr. Hassan Albalawi, WakeCap has developed an IoT platform that provides real-time visibility across workforce, safety, productivity, and progress on construction sites. The startup’s technology has been deployed across $80 billion in active projects and has tracked more than 150 million labor hours for clients including Aramco, NEOM, Qiddiya, and King Salman Park.
“WakeCap’s ability to capture and act on real-time jobsite data is critical for high-performing project controls,” said Dr. Hassan Albalawi, CEO and Founder of WakeCap, in a statement. “This round fuels our next stage of growth as we expand our global footprint, increasing the value we deliver to customers through richer insights, faster reporting, and greater operational efficiency.”
The startup’s system has demonstrated a 91% reduction in safety issues, 25% gain in productivity, and 70% faster incident response times for its clients, it claimed in a statement. WakeCap plans to use the fresh capital to scale its presence across existing and new markets, enhance its product capabilities, and expand integrations with key industry platforms like Oracle and OpenSpace.
Adam Grosser, Chairman and Managing Partner at UP Partners, commenting on the investment, said, “WakeCap sits at the intersection of two massive forces – the scale of global infrastructure investment and the digitization of construction. As governments and developers undertake trillion-dollar initiatives, WakeCap’s platform brings truth, transparency, and trust to the field.”
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