Saudi Arabia-based construction technology firm WakeCap has raised US$28 million in funding during the Saudi-US Investment Forum.

The company plans to use the funds to expand its operations locally, regionally, and internationally.

The funding will also enhance WakeCap’s data analytics and digital integration capabilities. The company aims to address the construction sector’s slow adoption of digital transformation.

Founded in 2017 by Hassan Albalawi and Ishita Sood, WakeCap develops wearable technology for construction sites. Its solutions provide real-time monitoring for contractors and project managers to improve safety and productivity while reducing risks.

🔗 Source: WakeCap

🧠 Food for thought

1️⃣ Construction tech funding trajectory mirrors industry digitization needs

WakeCap’s funding journey reflects the construction industry’s increasing embrace of digital solutions, evolving from a $1.6 million seed round in 2018 to this substantial $28 million investment in 2025 1.

This acceleration in funding comes as construction, historically one of the least digitized industries, faces mounting pressure to improve productivity and safety metrics through technology adoption.

The startup’s evolution from initial funding of just $25,000 from friends and family to securing significant institutional investment demonstrates the growing market validation for IoT solutions in construction 2.

This investment pattern aligns with broader industry trends, as 90% of construction tech investors plan to either increase or maintain their capital deployment in 2025, according to the Zacua Ventures survey 3.

WakeCap’s technology directly addresses key industry challenges by enabling real-time monitoring of worker safety and attendance, a capability that proved particularly valuable during the COVID-19 pandemic when the system was used for contact tracing on European construction sites 4.

2️⃣ Safety-focused technologies finding sustainable business models

WakeCap’s successful funding round demonstrates how construction safety innovations can evolve into comprehensive business solutions with sustainable revenue models.

The company’s original hard hat device was designed primarily to address the industry’s safety challenges, a sector where accidents are prevalent with often severe consequences 1.

However, the technology expanded beyond safety to improve operational efficiency by tracking attendance and worker location, creating multiple value streams that strengthen the business case for adoption 4.