AI-BOB, a Swedish constructiontech using AI to ensure construction projects comply with regulations, environmental requirements, and industry standards, has secured €2M in a new funding round led by CapitalT.
Other investors include Fund F, which focuses on investing in female-founded companies, NCA, a German venture capital firm specialized in the construction industry, and a select group of angel investors.
This brings AI-BOB’s valuation to over €10M, just a year after its founding in early 2024, and has previously raised €300 K from EB Invest and €130 K from Norrsken Foundation.
The influx of capital will primarily be used for product development and preparations for international expansion.
The company offers a plugin that automates the review of building regulations, integrating directly into architectural software like Revit. This integration allows for real-time compliance checks, significantly reducing lead times from weeks to minutes and minimizing construction errors.
The platform utilises advanced technologies, including Large Language Models (LLMs), computer vision, and a ruling engine, to provide accurate compliance reports based on architectural blueprints. By automating these processes, AI-BOB aims to decrease overall project costs and reduce material waste, contributing to more sustainable construction practices.
"AI-BOB's vision is a world where construction errors are not just minimized but eliminated. With this new capital, we can focus on developing an incredible product that truly makes a difference in the construction and real estate industry. It’s amazing to see international investors believe in us, and with their knowledge and networks, we can prepare to scale globally and enter new markets," said Elin Mårtensson.
"What impressed us most is how quickly AI-BOB identified a real market problem and developed a smart, effective solution. With a strong team and a clear vision, they have the potential to transform this industry. We look forward to supporting their journey, which is just beginning," added Janne Keniessen, Founding Partner at CapitalT.
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