Navitas Capital
Assembly Line
Field Materials Total Seed Funding Grows to $8.15M to Bring AI to Construction Procurement
Field Materials, the leading AI software to control and verify construction material and equipment spending, raised an additional $3.5M to bring its total Seed funding to $8.15M. The round was led by new investors DivcoWest Ventures, Navitas Capital, Zelda Ventures, and Flyer One Ventures alongside existing investors Blumberg Capital, s16vc, Zacua Ventures, and several prominent industry executives. The company was founded two years ago by Eldar Sadikov and Victor Gane, serial entrepreneurs out of Stanford, with backgrounds in AI and construction. Their previous AI startup was acquired by PayPal in 2018.
Field Materials’ AI capabilities have been the major driver for customer demand. The proprietary technology was built and trained using tens of thousands of vendor quotes, invoices, and packing slips from customers across eight different construction trades. It leverages state-of-the-art large language models (LLMs) and can read and interpret new vendor documents that it has not previously seen, without additional training.