Dubai-Based Opteam Secures Pre-Seed Round Led By Plus VC

UAE-based construction technology company Opteam has raised an undisclosed pre-seed funding led by Plus VC.

Other participants in the round included Dar Ventures, the UK-based venture capital arm of design and engineering consultancy firm Dar Al-Handasah, SIAC Ventures, the Egypt-based venture capital investment arm of SIAC Construction, and the Dubai-based venture capital fund, Oraseya Capital. 

Founded in 2020 by father and son duo Tarek and Ahmed Hegazy, Opteam develops artificial intelligence (AI)-based software to improve construction management.

Tarek, with over 20 years of experience in computational project management, identified a need for solutions addressing project complexity and efficiency. Ahmed, a software sales professional, co-founded the company to bring this vision to the market.   

Opteam’s platform combines data analytics, progress tracking, and automation to provide real-time insights, reduce delays, and improve resource management. It aims to decrease resource use in infrastructure projects by 30 percent and simplify processes for construction teams.   

The investment will help the startup enhance its AI capabilities, expand its team and strengthen its footprint in the Emirati and Saudi Arabian markets. 

In a statement, Tarek, who's the CIO of 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.” 

Hasan Haider, managing partner at Plus VC, added, “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.” 

Last year, Opteam had secured investments from SIAC Ventures and Dar Ventures through the contech program Makers program with Flat6Labs. It had also received an investment worth US$150,000 from the UAE-based SANDBOX, the accelerator program backed by Oraseya Capital. 

Pictured on image: Opteam's Ahmed and Tarek Hegazy. Image courtesy Opteam.