NPIF – Mercia Equity Finance has invested an additional £575k into Hull prop tech, Bimsense, taking its total investment in the company to over £1m.
This latest funding round is to help the firm develop its “golden thread” software, Operance. This helps building owners meet the requirements of the Building Safety Act, which was introduced in the wake of the Grenfell Tower tragedy.
It has been created to demonstrate that safety has been considered at every stage of a building’s lifecycle, from design and construction to management.
“The new Building Safety Act has introduced the most sweeping reforms in living memory for the construction and residential property sectors,” explained Scott Pilgrim, Chief Product Officer at Bimsense.
“By bringing building intelligence together in one place, Operance can help them meet the challenge. NPIF and Mercia have backed us from the start and the latest funding will allow us to add new features and provide further support for the property industry.”
Pilgrim co-founded the building information modelling (BIM) consultancy in 2016 with Ian Yeo, before developing the Operance software in 2020.
“Operance will play a key role in helping building owners to comply with the rules and creating safer, more efficient buildings for everyone,’ added Maurice Disasi, Investment Manager at Mercia.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF).