Volve Raises $3 Million to Build AI-Powered Intelligence for Construction

Volve also plans to use the funding to expand across Europe. The round was led by Skyfall Ventures, with participation from J12, Norrsken Evolve, OBOS Ventures, Antler and StartupLab. Angel investors also joined the round, including Daniel Kjørberg Siraj, former CEO of Nordic housing and urban development company OBOS.

Along with the new funding, Volve is introducing a new graph-based system that helps store and connect knowledge from different construction projects. While every project is different, many of the business decisions involved are similar.

The new system allows knowledge from one construction tender to be used in future bids. This means construction teams can learn from previous projects instead of starting from scratch every time.

Volve will use the new funding to improve its platform for main contractors and public clients and speed up its expansion across Europe. The company wants its platform to become a key tool for making better business decisions during construction tendering and preconstruction.

Founded in 2024 by Herman Smith, Abyl Ikshanov and Alf Jørgen Dovland, Volve is based in Oslo. The company has built an intelligence platform for construction companies and public-sector clients involved in tendering and preconstruction.

Volve helps companies make important decisions before construction starts. This includes deciding whether to bid for a project, how much to charge and what contractual or operational risks they may face.

Construction teams often have to review large amounts of information in a short time, including contracts, drawings, project requirements and technical documents. Volve analyses this information and connects project requirements, scope and possible risks, giving teams a clearer picture when preparing bids.

The platform also helps contractors match their bids with client requirements and review offers from subcontractors. Volve says that around 80% of a project’s cost is decided before the contract is signed, making the tendering and preconstruction stages important for managing costs, profits and risks.

Read Also- UK Startup Embedd Secures €2.3 Mn to Power the Future of Physical AI