AROUND THE NETWORK: JR Holding invests $1M in AI Clearing

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Krakow-based investment firm JR Holding has invested $1 million in BuiltWorlds member AI Clearing, an Austin, Texas-based construction company with Polish roots. The investment is a first for JRH outside of Poland in a company with global reach, MamStartup reports.

AI Clearing was founded in 2019 by Adam Wisniewski and Michael Mazur. The company enables the construction industry to become more efficient by applying artificial intelligence in practice. Its AI Surveyor allows for fully automated construction progress tracking and real-time quality control.

By using the solution, the supervisors can automate and speed up the construction process, it also allows to minimize delays and budget overruns. So far, the company has contracts with the largest construction companies from the USA, France, India, Saudi Arabia, and Poland.

The current deal is debt financing, with an interest rate of 4% per annum and a maturity of 24 months. AI Clearing plans to use the fresh funds to prepare for the upcoming Series A round.

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