California, USA-based technology platform company dedicated to advancing critical infrastructure digitization and analysis, Looq AI raised USD 2.6 million in seed funding. The round took place on February 28, 2024. BootstrapLabs, a venture capital firm focused on applied artificial intelligence, led the financing for the company. Meanwhile, Longley Capital and Spatial Capital also joined in the funding. So far, Looq AI’s total financing amounts to USD 3.75 million.
The company also announced the launch of its Looq platform, a ground-breaking AI-enabled digital twin technology. In order to create and maintain a safer, more sustainable, and electrified future, surveyors, engineers, contractors, and asset owners may utilise the platform as a one-stop shop to digitally map the physical world infrastructure in a matter of minutes with survey-grade accuracy.
What the company’s official has to add
Dominique Meyer, Ph., CEO at Looq AI, said, “We have developed a fundamentally different way of creating these accurate digital twins leveraging cameras instead of lasers. Our cameras offer over 100x higher spatial sampling rates compared to top-of-the-line laser systems, enabling our customers to capture the data they need within minutes and at a scale that they previously could not do.”
He further added, “We are grateful to be backed by some of the world’s most forward-looking investors in the applied AI space, exactly where Looq is focused. The addition of BootstrapLabs, Longley Capital and Spatial Capital to our investor base will accelerate Looq AI to the next stage of growth.”
What the investors & other experts have to comment
Benjamin Levy, Co-Founder and General Partner of BootstrapLabs, said, “Looq’s product is remarkable, as it not only combines the latest advances in hardware, AI, and computing technologies, but it also accelerates the very digitalization of our world, generating troves of unique data upon which the company will build its AI moat.”
Amanda Jones, PLS, Owner at AJS, said, “The use of this technology is a game-changer for us. It gives us the opportunity to capture a large amount of survey-grade data without drones or hours and hours of boots-on-the-ground labour.”
Kevin Grover, Advanced Technology Leader, McElhanney Ltd, further said, “I haven’t been this excited about a new 3D capture technology in a long time. The speed and quality of the survey data from Looq are paramount to other 3D technology on the market today. Looq is going to be disrupting the industry, and we are excited to be an early partner of theirs at McElhanney in Canada.”
Blake Darling, PE, PMP, Director of Engineering Underground Programs, Aquawolf, further added, “The Looq platform has become an indispensable engineering tool in our fielding tool kit. Their unique hardware and groundbreaking back-end processing have enabled our design teams to capture highly detailed and accurate field conditions in the absence of existing survey data. During all phases of design, the platform has enabled us to fill holes in our existing survey base maps quickly and reliably with rich data, which keeps design moving forward while we wait for traditional land surveys. Looq has been a key component of helping Aquawolf maintain its reputation for agility and high-quality engineering and design in the underground utility industry.”
About the company
Looq AI is a survey technology platform firm that was founded in 2021 and is committed to increasing the digitalization and analysis of essential infrastructure. For the purpose of decision-making and operational efficiency, the Looq platform facilitates the quick and scalable 3D gathering of survey-grade data across engineering and utility projects.
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