Bimsense, a Hull, UK-based proptech business that helps owners of high-rise buildings to meet strict new safety rules, has secured further £750,000 in funding.
The investment was from NPIF – Mercia Equity Finance, part of the Northern Powerhouse Investment Fund. This brings Bimsense the total funding received from the NPIF to over £1.8 million.
The Northern Powerhouse Investment Fund, supported by the European Regional Development Fund, provides commercially focussed finance through Microfinance, Debt, and Equity Finance funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium-sized businesses secure the funding they need for growth and development. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow, and build UK economic activity.
Bimsense Use of Funds
The funding will help Bimsense enhance Operance to comply with the latest measures.
Founded in 2016 by Ian Yeo and Scott Pilgrim, Bimsense is a developer of building information modeling software built to minimize project risks and maximize lifecycle efficiencies. The company's platform allows for the definition, structure, validation, and access of BIM (Building Information Modeling) deliverables, enabling clients to optimize decision-making, project efficiency, and return on investment. Bimsense developed Operance in 2020, a mobile-first digital operations and maintenance (O&M) application. Operance assists owners of high-rise buildings in meeting safety regulations, particularly the Building Safety Act, and is utilized by housing authorities and construction firms.
Company: Bimsense Ltd.
Funding Month: November 2023
Lead Investors: NPIF – Mercia Equity Finance
Company Website: https://www.operance.app/
Software Category: Building Information Modeling Software
Source: Pauline Rawsterne, PR Agent-Turquoise PR