Finch, a Sweden-based construction and engineering software company, has banked €2.5 million to deliver their cloud and graph productivity-enabled software suite to market.
Nordic venture fund Inventure is backing the €2.5 million round with a number of angel investors; both Peter Neubauer (co-founder of Mapillary, bought by Meta two years ago) and Emil Sjodin (co-founder of Refined) were named in the press release.
Finch's cloud software uses AI to predict the effectiveness of architecture designs, pulling up design errors and recommending adjustments that could fix the problem and spare countless man-hours.
Pre-launch, the product's graph productivity features are touted as a key draw. Architects can collaborate from within the platform to double down on design metrics, floor plans and measurements.
Inventure partner Lauri Kokkila says this is the first time his team has backed a construction/proptech startup, having screened over 250 companies over the past five years. "It's the first time we've seen a perfect founder and product maker fit in combination with a born-global product with an impressive list of first users."
The stage of the round wasn't billed although Finch said it has now raised €3 million overall. In July 2020, it secured SEK5 million (€480,000) from Swedish startup investor Almi Invest, Loop Capital, and angel investors, likely including Neubaeur and Sjodin.