"Now a Swedish startup called Endra is using AI to automate this mechanical, electrical, and plumbing (MEP) design process. Niklas Lindgren, the company's cofounder and CEO, says its software can reduce the time needed to design a code-compliant electrical system for a 500,000-square-foot commercial building from two months to less than a day. Endra is announcing today that has secured a $20 million seed round, one of the largest funding rounds to date for a Swedish company."
"The company, which Lindgren founded roughly a year ago, currently employs about 10 people. The new funding will support its plans to triple the team size within six to 12 months, and to establish offices in the United States, United Kingdom, and Germany, the company said.The idea for Endra grew out of serial entrepreneur Lindgren's work at a company he previously cofounded, Sectragon, which made physical access control and security systems."
Endra uses AI to automate mechanical, electrical, and plumbing (MEP) design for commercial buildings. The company claims its software can reduce the time to design a code-compliant electrical system for a 500,000-square-foot building from two months to less than a day. Endra closed a $20 million seed round led by Notion Capital, with participation from Norrsken VC and angel investors, after a €3 million pre-seed in May. The company was founded roughly a year ago, currently employs about 10 people, and plans to triple staff and open offices in the United States, United Kingdom, and Germany. The idea originated from founders' experience at Sectragon, where they observed antiquated electrical-design software and sold the company in 2022.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]