Spacemaker scores $25M Series A to let property developers use AI
Spacemaker, a Norway-based startup that’s created AI software to help property developers and architects make better design decisions, has picked up $25 million in Series A funding.
The round is jointly led by Atomico and Northzone, with participation from investors in property and construction tech including Danish property developer NREP, Nordic property developer OBOS, and U.K. real estate technology fund Round Hill Ventures. A number of earlier investors including Norway’s Construct Venture also followed on.
Described as “the world’s first” AI-assisted design and construction simulation software for the property development sector, Spacemaker claims to enable property development professionals, such as real estate developers, architects, and urban planners, to quickly generate and evaluate the optimal environmental design for any multi-building residential development. To achieve this, the Spacemaker software crunches various data including physical data, regulations, environmental factors and others preferences.
“Today developers and urban planners plan sites largely ‘by hand’ — meaning they can explore 20-30 options at most as they try to optimise for a multitude of regulatory, design, environmental and economic constraints,” says Spacemaker co-founder and CEO Håvard Haukeland.
“Given the rate at which urban populations are increasing, we can’t build sustainable and liveable cities by continuing to rely