Europe’s 46 million non-residential buildings require documentation detailing their construction, management, maintenance and at times inspection. Digitally organised and searchable building documentation enables confidence in building data, reducing commercial risk and costs. Yet, inefficient access to building documentation is estimated to cost building owners €2 per square metre annually in the continent.
Oslo-based startup that automates building documentation using AI, Findable has raised a €2 million in funding to change the scenario. The seed round was led by KOMPAS, with participation from Construct Venture and Malling & Co Venture.
The funding will allow the platform to scale its product and grow its customer base as it mulls international expansion.
Founded in 2020, the Norwegian startup digitises building documentation, using AI to automatically categorise documents and allows users to locate specific information via a search function. The software can analyse headlines, pictures and drawings, and quickly conclude what the document shows and how it should be organised. This reduces the time consuming and manual process of managing complex documents, enabling construction companies and facility managers to streamline the process of inspections and certifications.
Fredrik Halmøy Wisløff, CEO at Findable said: “Building documentation, its organisation and storage, is a tedious task. Even today it’s still a largely manual process involving stacks of paper and piles of ring binders. Similar to the software that automatically sorts photo albums using face recognition, our technology quickly identifies the key data and makes it easier for relevant parties to access the information that matters.”
Sebastian Peck, partner at KOMPAS added: “The facilities management sector in Europe is a massive market undergoing its own digital transformation. Findable’s solution provides easy access to the right building documentation, supporting workflow automation and thereby removing a major bottleneck.”