Design software producer Autodesk has agreed a $240m deal to buy Spacemaker, a Norway-based property development software provider backed by real estate developer NREP.
Spacemaker’s cloud-based software platform uses artificial intelligence to help architects and property developers design buildings and urban developments.
The platform allows users to quickly create and iterate design projects while also incorporating criteria and data such the terrain, weathers, lighting, traffic and zoning.
In June 2019, Spacemaker closed a $25m series A round featuring NREP and existing backer Construct Venture, an investment vehicle set up by building association Obos and construction firm AF Gruppen.
Venture capital firms Atomico and venture capital firm Northzone co-led the round, which included Round Hill Ventures. Spacemaker had also raised $7m in seed funding from undisclosed investors in 2018, according to a VentureBeat report.
Spacemaker CEO and co-founder Havard Haukeland said: “Four years ago, we set out on a mission to help design, engineering and project teams reinvent the development of more sustainable cities and neighbourhoods worldwide while maximising the investment.”
“Autodesk shares our goal to create a healthier planet for everyone and is uniquely positioned to more rapidly place our product in the hands of planning teams everywhere.”