Copenhagen-based technology firm Captego has announced a €2 mln seed round led by ALFA Ventures, the venture arm of ALFA Development, with participation from Vaektsfonden, a part of the Danish state’s investment fund.
Building on its recent success, the investment allows Captego to meet growing demand from new international markets, enhance its technology capabilities and build out its team.
Launched in 2018, Captego seeks to provide firms across property, engineering, utilities and insurance with quality field data. The platform's field data engine simplifies data accumulation before organising, structuring and enriching that data onto live dashboards.
Operating across the UK and Europe, the firm is an accredited RICS tech partner and is already trusted by the likes of DCC Shell, Marsh and Milton Homes.
Anders Dalskov, CEO at ALFA Ventures, said: 'The real estate industry is undergoing transformation when it comes to sustainability and digitization. With ALFA Ventures, we want to be part of the solution by supporting the companies we believe can lead the way in this transformation.
'Captego is a very good example of this with their platform that both simplifies but also raises the quality of the important inspection process. We observe significant efficiency improvements and a significant lift in data quality for customers using Captego.
'The potential for Captego is enormous – not only within the property industry but also within a wide range of other industries. We are proud to have had the opportunity to support Captego and look forward to rolling up our sleeves with the amazing team behind Captego.'
Alongside funding, Captego has also unveiled the appointment of Jeremy Sparrow, the former head of Renaissance Capital (Asia), as CEO.
Sparrow was previously MD at Investec and VP at Morgan Stanley. After leaving banking in 2014, Sparrow has held various board and advisory positions at high growth startups. He joins to fulfil the company’s growth vision with further plans to expand into North America in 2023.
Said Sparrow: 'Field professionals have lost too much time and for far too long. We’re here to change that. Our latest funding marks an exciting time for Captego as we build on our success in the homebuilding and telecoms sectors, into new verticals and markets.
'Thanks to our investors in this seed round, it unlocks our ability to scale across Europe and truly redefine how field data is collected, managed and actioned.'
Johan Bitsch Nielsen, investment manager at Vaekstfonden, commented: 'Vaekstfonden seeks out Danish companies that Denmark cannot afford to miss out on. With an innovative platform and potential to redefine the inspection business, Captego is clearly one such company.
'The field data engine is a simple yet ingenious product that will save colossal amounts of time for users, whilst improving data visibility. We are proud to help fund a shining example of Danish ingenuity and are excited about the potential widespread adoption of the platform across several key markets.'