Oslo-based construction tech startup Volve has raised $3 million (NOK 30 million) in a seed funding round led by Skyfall Ventures, with participation from J12, Norrsken Evolve, OBOS Ventures, Antler, and StartupLab. Angel investor Daniel Kjørberg Siraj, former CEO of OBOS, also joined the round.
- Founded in 2024 by Herman B. Smith, Abyl Ikshanov, and Alf Jørgen Dovland, Volve develops an AI platform that helps construction companies make commercial decisions during the tendering and preconstruction stages.
- The platform reads tender and contract documents, maps requirements, scope, and risks, and helps contractors decide whether to bid, how to price projects, which risks to take, and how to evaluate subcontractor offers.
- Volve says its platform has already been used on more than 2,500 construction projects by leading contractors across the Nordics. In one recent public infrastructure tender involving 213 documents, the platform identified 20 risk findings and supported the comparison of 73 subcontractor bids.
Details of the deal
- The new funding will be used to deepen Volve’s product, develop its connected data structure, and expand into the UK and Continental Europe.
- The company aims to build an intelligence layer for commercial decision-making in construction tendering and preconstruction, allowing knowledge from previous projects to be reused across future tenders.
