JR Holding invests ＄1M in AI Clearing, a US-based company
Krakow-based investment firm JR Holding has invested $1 million in AI Clearing, an Austin, Texas-based construction company with Polish roots. The investment is a first for JRH outside of Poland in a company with global reach, MamStartup reports.
- AI Clearing was founded in 2019 by Adam Wisniewski and Michal Mazur. The company enables the construction industry to become more efficient by applying artificial intelligence in practice. Its AI Surveyor allows for fully automated construction progress tracking and real-time quality control.
- By using the solution, the supervisors can automate and speed up the construction process, it also allows to minimize delays and budget overruns. So far, the company has contracts with the largest construction companies from the USA, France, India, Saudi Arabia, and Poland.
“We’re providing AI Clearing with funds ahead of its next round scheduled in a few months. We are investing in a company with a global reach, with the intention of acquiring shares issued in round A… This transaction is an expression of our ambitions to go beyond Poland, AI Clearing fits perfectly into JRH’s portfolio and gives a chance for a satisfactory return of investments,”January Ciszewski, investor and President of JR Holding, comments.
- JR Holding is an alternative joint-stock company based in Krakow. The firm mainly invests across the CEE region in key future sectors, such as renewable energy, gaming, lifestyle, AI, new media, and biotech. Earlier in March, JRH invested in Closer Music during its €1.3 million round.
- The current deal is debt financing, with an interest rate of 4% per annum and a maturity of 24 months. AI Clearing plans to use the fresh funds to prepare for the upcoming Series A round.