AI-BOB, a Stockholm-based ConTech startup leveraging AI to ensure compliance with construction regulations, has secured €2 million in new funding, bringing the total valuation to over €10 million – just over a year after its founding.
Leading the investment round is VC firm CapitalT. Other investors include Fund F, which focuses on investing in female-founded companies, NCA, a German venture capital firm specialised in the construction industry, and a select group of angel investors. The new capital will primarily be used for product development and preparations for international expansion.
“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,” says Elin Mårtensson, Co-founder and CEO of AI-BOB.
Founded in 2024 by Elin Mårtensson, Petter Wallberg, Rickard Svedenmark and Olle Eriksson, AI-BOB is developing digital solutions to optimise construction and real estate development. By using AI to analyze blueprints and detect errors with millimeter precision—before they become real-world issues—AI-BOB is aiming to set a new standard for a sustainable and innovative construction and real estate industry worldwide. The company was founded in 2024 by Elin Mårtensson, Petter Wallberg, Rickard Svedenmark and Olle Eriksson.
The idea for AI-BOB was born out of Elin Mårtensson’s frustration after years as a property developer and building regulations expert. She discovered that construction errors and delays are more the rule than the exception, leading to massively expensive projects and vast amounts of unnecessary construction waste.
In Sweden alone, the National Board of Housing, Building and Planning estimates that construction errors cost up to €9.8 million annually, equivalent to approximately 50k newly built apartments.
The startup has quickly established itself in the market and already has three global clients in its portfolio. Previously, AI-BOB raised €300k from EB Invest and €130k from Norrsken Foundation.
Capital T, the lead investor, sees significant market potential in AI-BOB: “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,” says Janneke Niessen, Founding Partner at CapitalT.