nPlan secures $16m to scale AI project de-risking tech

London-based nPlan has secured $16m in series B funding to scale its AI that helps predict and prevent delays in construction projects. 

The funding round was led by CapHorn, Chevron Technology Ventures and Suffolk Technologies, with continuing support from Google Ventures, Pentech Ventures and LocalGlobe.

Six out of seven large-scale projects finish late, with one in 10 overrunning by more than a year. The root causes of this are optimism bias and overwhelming project complexity.

NPlan uses machine learning and large volumes of past project data to forecast and de-risk construction projects. It has access to more than 750,000 projects representing over $2.5 trillion of capital spend. To date, nPlan said it has saved its customers “well over” $1.2bn. 

Dev Amratia, CEO and co-founder of nPlan, said: “We’ve been quietly building a new standard for capital delivery with customers all over the world. This funding allows us to scale that transformation – proving that a UK company can lead globally in one of the most important applications of AI.”

In the UK, nPlan’s AI is used by HS2, Network Rail, the Transpennine Route Upgrade (TRU) and Anglian Water. Global customers include Chevron and Shell, MTR in Hong Kong, and NEOM in Saudi Arabia.