Finnish construction tech firm Metroc secures €2M in a seed round
Metroc, a SaaS company that develops software for the construction industry that is based in Helsinki and Stockholn, has secured €2 million seed funding round led by Lifeline Ventures, with support from angel investors. The investment will help to accelerate its European expansion.
- Founded by Janne Johansson and Jussi Virnala in 2019, Metroc develops a market information service for construction and real estate companies, which allows companies to find new construction projects and manage customers in the same service. Since the launching, it accumulated more than 300 corporate customer portfolios. Among the company’s customers are Consti, Sweco and Skaala.
- Matroc partners with Finnish Criminal Sanctions Office by using the assistance of inmates, in four of the country’s prisons, to train the AI algorithms through document processing work at workstations. Through it, prisoners learn digital skills and a basic grasp of the construction industry.
Metroc was born out of a profound desire to make data easily accessible, understandable, and valuable to every stakeholder in the construction realm. We believe our AI-enhanced platform offers clarity in a traditionally opaque industry. One remarkable partnership with the Prison and Probation Service of Finland (RISE), wherein inmates participated in training our proprietary NLP models, is proof of our out-of-the-box thinking and commitment to community engagement.Jussi Virnala, founder & CEO of Metroc commented.
- The fresh round was led by Finnish Lifeline Ventures, a VC firm specializing in startups, growth capital, and early-stage investments across Finland’s ecosystem. In May this year, Lifeline Ventures announced €150 million for its fifth fund.
- The company will spend the fresh costs for European and other Nordic countries’ expansion, and growing its team, especially in tech, sales, and marketing.