Volve raises NOK 30m: Evertrace spotted Abyl Ikhsanov 692 days earlier

Volve has raised NOK 30m in seed funding. The company is building AI software for construction tendering and preconstruction decisions.

Evertrace spotted Abyl Ikhsanov, co-founder of Volve, 692 days before the funding announcement.

Before the round

On 2 October 2024, Evertrace spotted the first signal of company formation for co-founder Abyl Ikhsanov. The signal showed the company taking shape 692 days before its funding announcement.

What they’re building

Volve helps contractors and public-sector teams work through tender documents, project requirements and commercial risks. Its software connects the information that determines whether to bid, how to price a project and which risks to accept.

Co-founders Herman Smith, Abyl Ikhsanov and Alf Jørgen Dovland combine construction and technology experience. The Oslo company works with the documents and processes construction teams already use.

The round

Volve raised NOK 30 million, reported as approximately $3 million, in a seed round led by Skyfall Ventures. J12, Norrsken Evolve, OBOS Ventures, Antler and StartupLab participated. The funding supports product development and European expansion.

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