Opteam Key Highlights:
● Tracking site progress seamlessly through mobile, reducing progress tracking efforts by 80%
● Centralizes project data into a single unified source for easy access by all stakeholders, giving back 15% of construction time
● Fast-Tracking construction plans with strategic integration of AI and generative scheduling to reduce delays by 30% and reduce recovery planning from weeks to minutes
MENA:15 January 2025: Opteam, an innovative AI-driven construction management software, has announced today that it has successfully closed its pre-seed round for an undisclosed amount from Plus VC, MENA’s most active venture capital firm, to accelerate its mission of transforming the construction industry. Other strategic investors who participated in the seed round are Dar Ventures, the VC arm of Dar, SIAC Ventures, the VC arm of SIAC Construction, and Oraseya Capital, the VC fund of Dubai Integrated Economic Zones Authority, thereby incorporating all the prominent key stakeholders required for construction projects.
Established in 2020, Opteam was founded by Dr. Tarek Hegazy, a seasoned professor and researcher with 20 years of experience in advanced computational project management for construction, and his son Ahmed Hegazy, a record-breaking software sales executive with large global companies. Over the course of two decades of research in infrastructure management, Dr. Tarek saw a critical need for a solution that could bridge the gap between project complexity and efficiency. Opteam was designed to do just that, helping construction teams overcome long-standing challenges and realize their full potential in the ever-evolving construction world.
“We are thrilled to partner with Plus VC! Having them on board rounds off our extremely strategic group of investors, spanning key players in the construction industry the MENA region, and the startup ecosystem,” said Ahmed Hegazy, Co-founder and CEO of Opteam. “Plus VC has a strong reputation in the startup world, known for backing and investing in disruptive companies, and we are proud to be one of them. They will be a key player in our mission to penetrate this massive industry and change how companies approach project management. Our strategy is to accelerate our growth as the sole platform for generative scheduling in construction. We are very excited to ramp up our activities and make something truly special.”
The new capital will be deployed to deepen Opteam’s AI capabilities, expand its team and establish its market presence in the UAE and Saudi Arabia. As the construction industry deals with increasingly complex projects with more resource limitations, contractors and consultants are faced with enormous pressure to embrace the benefits of digitization. Opteam’s strategy is to develop AI software that is extremely easy to use and consumable to take advantage of the construction industry’s need to adopt technology that is simple and non-intrusive.
Dr. Tarek Hegazy, Co-founder and CIO at Opteam said: “Opteam is a tool that will finally automate so many of the manual tasks in construction. The Middle East suffers from the highest amount of time and cost overruns than anywhere else globally and is desperate for a solution. We believe that Opteam is perfectly suited to take on this challenge because we are intimately aware of the processes in construction and of the adoption challenges of technology.”
Commenting on the fundraising announcement, Hasan Haider, Managing Partner at +VC said: “Opteam is breaking new ground in construction technology, addressing some of the industry’s most persistent challenges with innovative solutions. It’s a transformative tool for the construction industry, setting new benchmarks for unmatched efficiency and profitability. We are excited to collaborate with Ahmed and his team as they scale and establish themselves as pioneers in the construction tech space.”
Faysal Shair, Co-Founder and Director of Dar Ventures said: “For nearly 70 years, Dar has been part of the architecture, engineering, and construction industry. Opteam has developed a strong business case by disrupting project management on construction sites, to facilitate progress and deliver better outcomes. We truly believe in Opteam’s disruptive and pioneering technology and its ability to successfully manage complex schedules and resources during the construction phase of projects”
Opteam is a first-of-its-kind solution, designed to improve how construction companies manage their data and reduce the time it takes to strategise from weeks to minutes. The software combines advanced data analytics, mobile progress tracking, and automation to support construction teams in optimizing resources, reducing delays, and managing complex schedules. Ultimately, Opteam’s goal is to use this technology to reduce the amount of resources needed for infrastructure by 30%. With a focus on real-time insights and data-driven decision-making, Opteam enables construction teams to automate a large amount of manual tasks, monitor the site with accurate updates, give real-time reporting and intelligently recover project delays.
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About Opteam
Opteam empowers construction teams with tools for monitoring progress, real-time dashboards and intelligent schedule optimization. Founded by Dr. Tarek Hegazy, an expert in construction management, and his son Ahmed Hegazy, an experienced software executive, Opteam is redefining project management for the construction industry. Please visit our website: https://opteam.ai
The Opteam team has won a few awards to their credit such as the Pitch Competition at the Big 5 event and was selected by Sandbox (Oraseya Capital’s early-stage investment program) as one of 20 companies out of a group of 1,500 startups that applied. Dr. Tarek has received several awards for his research and is one of the top 5 most cited civil engineers in North America.
About Plus VC:
+VC is a venture capital firm focused on investing in early-stage tech and tech-enabled startups across the MENA region and its diaspora. As the most active VC in the MENA region, +VC supports and backs extraordinary and innovative entrepreneurs, taking an early leadership role with founders to set them up for success.
About Dar Dar Ventures is the venture capital arm of Dar, a world-class design and engineering consultancy and the founder of the award-winning top 10 international design firm Sidara. We empower innovators and researchers to deliver exceptional and innovative solutions and products that reimagine the industry as more efficient, sustainable, resilient, and aligned with global goals for people and the planet.
