Swedish building digitisation startup BIMobject raises €23.4 million from EQT Ventures

Swedish building digitisation startup BIMobject raises €23.4 million from EQT Ventures

Sweden's BIMobject, a digital platform for building information modelling (BIM), has raised €23.4 million in funding from EQT Ventures. As part of the deal, EQT's partner Hjalmar Winbladh will join the company's board.

BIMobject claims that it's created “world’s largest and fastest growing digital content management system for BIM objects.” Its product allows gathering information about building products for all parties to access and analyse. It's already partnered with more than 1,000 manufacturers who provide this information for the platform.

Founded in 2011, BIMobject employs more than 200 people and claims to have over 850,000 users across 20 countries it operates in. The company's revenue in 2017 reached some €8 million. As of the time of writing, BIMobject's market cap was at about €181 million.

Together with the fresh capital injection, BIMobject has announced changes in its shareholding structure. VC firm MOJO Capital One will purchase a total of 1.6 million shares that represent some 3 percent of the company from Stefan Larsson, Sven Holmgren, and Johannes Reischböck—members of BIMobject’s management group.

In addition to that, image and design software company Abvent SA will sell 666,666 shares in BIMobject. It has also issued put options to sell a further 1,333,334 million shares (duration of 30 months, market priced) to the investors Patrick Söderlund, chief design officer at Electronic Arts, and Johan Svanström, president at Hotels.com.

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