International legal practice Osborne Clarke has advised Norwegian PropTech business, Spacemaker, on its US$25 million Series A funding round.
Spacemaker is the creator of the world’s first AI-assisted design and construction simulation software for the property development sector. The round is Spacemaker’s first international institutional investment round, and is co-led by Atomico and Northzone. Other investors in the round include NREP, OBOS and Round Hill Ventures.
Spacemaker will use the funding to invest in its global expansion, in addition to construction AI research, product development, and building out its engineering and commercial teams.
Spacemaker develops AI technology that helps users discover smarter ways to maximize the potential of a building site. The software lets the user generate and explore a multitude of site proposals, sort out the best ones, and provides detailed analyses for each of them. It enables insight and a collaborative workflow among architects, engineers, real estate developers and municipalities.
With this latest deal, Osborne Clarke continues to demonstrate the depth of its expertise in venture capital and the Tech, Media and Comms sector. Partner Mathias Loertscher and Associate Director Ken Wilkinson acted as lead counsel to Spacemaker with BAHR advising on Norwegian law aspects of the round.
Halvor Aurmo, CFO and Head of Legal at Spacemaker, commented “I would like to thank the Osborne Clarke Team for their stellar work throughout this process. The success of the round is a real landmark moment for Spacemaker, and Mathias and Ken have been instrumental in achieving this.”
Osborne Clarke’s Corporate Team is considered a go-to practice for many companies in the Tech, Media and Comms sector, working with clients who range from global businesses to fast-growth start-ups and market challengers. The team also advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.