2030 Finance | June 12, 2019

Spacemaker raises €22 million to help urban developers build sustainably

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, June 12 – Surging global urbanization “makes it necessary to build higher, denser and faster than before—while also providing high living quality and sustainable urban environments,” but the construction industry is slow to adapt and behind on digitization, according to Oslo-based Spacemaker. The construction software company has raised €22 million ($25 million) led by London-based investment firm Atomico and Stockholm-based Northzone.

Spacemaker makes artificial intelligence-based software to help urban developers plan construction projects in line with local preferences and evolving environmental requirements. Its product allows developers to review, compare, and adjust construction plans quickly, while taking into consideration issues like sunlight, green energy options, or local noise.

“[Spacemaker] is a perfect example of AI augmenting human expertise, creating efficiencies and improving sustainability,” Northzone’s Michiel Kotting said.

Additional backing for Spacemaker’s Series A round came from a group of property developers and real estate tech investors, including Denmark’s NREP, Norway’s OBOS and Construct Venture, and the U.K.’s Round Hill Ventures.