Interview with Kai Panitzki, Investor at BitStone Capital
Conducted by the AI Architecture Group at Expo Real 2025 in Munich
Mr. Panitzki, you invest in start-ups developing robotics and AI for the construction industry — such as Alago and Okibo. What’s behind these investments?
Kai Panitzki: We’re interested in everything that makes the construction process more efficient and safer. Okibo develops robots that take over painting work on large construction sites — a real relief for the trades. The robot works precisely, evenly, and can continue painting overnight.
Alago, on the other hand, takes a different approach: they are building an AI system that understands the entire planning and construction process. It analyzes protocols, recognizes interdependencies, and supports the coordination of complex construction workflows — essentially a digital site manager.
Both examples show that AI and robotics are increasingly converging. Construction is becoming more data-driven — and that’s exactly where the future lies.
You are Managing Partner at BitStone Capital/Realyze Ventures. How is your network structured, and what are your investment criteria?
Kai Panitzki: We operate as an independent investment network, currently with around 25 active holdings in the fields of planning, construction, and operations. Behind it stand about 35 partners and investors.
Our goal is to identify innovations early — precisely where they can have real impact on the industry. That’s why we’re systematically building a comprehensive map of the ConstructionTech ecosystem. At the moment, we’re tracking more than 2,700 start-ups worldwide, categorized by their focus areas. This helps us maintain an overview of which solutions are emerging, where overlaps occur, and where true gaps still exist.
Within the AI Architecture Group network, we’ve observed that many start-ups often need support. Being part of a network makes them stronger. Do you share this view?
Kai Panitzki: Absolutely. That observation matches our own experience. Networks like yours play an important role — they bring together research, industry, start-ups, and occupational safety.
When people start talking early on, duplicate developments can be avoided, and synergies can be used more effectively.
Where do you currently see the greatest opportunities for AI in construction?
Kai Panitzki: Across the entire value chain — planning, building, and operating.
AI supports building intelligence, for example in controlling heating, ventilation, and energy flows to achieve more sustainable operations. But it also transforms construction processes themselves: progress tracking, protocol analysis, defect management — all of this can already be automated today.
Then there’s robotics in the trades: robots that paint, drill, or sand relieve skilled workers and ensure consistent quality.
I’m convinced that in five years, AI in construction will be as self-evident as BIM is today.
Would you like me to adapt it further into a publication-ready layout (e.g. for your AIAG website or LinkedIn post), with subheadings, intro paragraph, and short author line? That version reads more naturally for online readers while keeping the professional tone.





