Norway-based property development software provider Spacemaker has received $25m in a series A round backed by real estate developer NREP and cooperative building association Obos, Nordic9 reported on Sunday.
Investment firm Atomico and venture capital firm Northzone co-led the round, investing alongside VC firm Round Hill Ventures and Construct Venture, a joint venture between Obos and construction firm AF Gruppen.
Founded in 2016, Spacemaker has developed cloud-based software that uses artificial intelligence to help property developers and architects design structural layouts in multi-building residential developments.
The design and construction simulation platform uses preferences such as physical data and environment factors to generate the optimal environmental design. Obos, AF Gruppen and NREP are all among the company’s customers.
The proceeds will fund global growth and the expansion of Spacemaker’s engineering and commercial teams, product development and AI research. It had previously raised $7m from undisclosed investors in 2018, according to VentureBeat, and Construct Venture participated in the latest round as an existing backer.