Metroc, was able to acquire €2 million in an initial funding round by Lifeline Ventures, supported by significant investors. The company is developing AI-based market data software for the construction sector with this funding. Further, Metroc will grow more rapidly and expand its business beyond Europe.
Launched in 2019, Metroc will be using the new funding to further evolve and scale up its market data software. The company is also looking to doubling down on its team in tech, sales and marketing.
Metroc’s mission is to increase efficiency and drive more growth in the construction sector by aiming to solve the problems of data division and accessibility in this sector through its distinctive data platform. The software helps companies in finding the latest project opportunities and effortlessly gain automated market analysis. All this is possible due to its ability to search and collect real-time data, backed by their industry-specific AI language model.
The company built their software to merge public information from multiple data sources, which makes it accessible and irreplaceable for its users. The company also trained its own language models for two years, so that they can meet the specified needs of the construction industry.
Jussi Virnala, CEO and Founder of Metroc stated that the construction market data is out of date and spread over various platforms. This resulted in construction businesses not being able to find customers and suitable projects to work on, but with the Metroc’s software, construction companies will be able to get an overall overview of upcoming projects. This will help them navigate smoothly through complicated situations.
Metroc’s deep understanding of the real estate and construction industry, along with its unique industry-specific AI, makes its software truly incomparable in the construction technology sector estimated at €5 billion world-wide.