Modulize, an Oslo, Norway-based provider of a collaborative software solution for offsite construction that optimizes design, planning, and procurement, raised €1.9 million in Seed funding.
The round was led by KOMPAS, with participation from Pi Labs, Investinor, real estate developer Møller Eiendom, and Antler.
The company intends to use the funds to develop its product and grow its existing organization as it expands into different European markets.
Company: Modulize AS
Round: Seed Round
Funding Month: April 2022
Lead Investors: KOMPAS
Additional Investors: Pi Labs, Investinor, real estate developer Møller Eiendom, and Antler
Company Website: https://www.modulize.io/
Software Category: Collaborative Software Solution
About the Company: Founded by Lucas Carstens, Olav Ljosland, and Håkon Kalbakk in November 2020, Modulize provides a SaaS-based platform to support modular construction and prefabrication, collectively referred to as offsite construction (OSC). Its tool covers the full OSC process: optimized and automated design, planning, procurement, and delivery. The company’s software supports cost estimation and bidding, project planning, and building design itemization. Its first product – focused on cost estimation and bidding – is already deployed and available for users. The platform automates calculations from 2D drawings and 3D building models that are imported, rendered, and analyzed to extract all the information a manufacturer needs to accurately price a quote for a contractor. The company has a diverse team of 20+ with expertise in AI, SaaS, and international business, working closely with clients across the Nordics and Europe.