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Norwegian Contech Startup Leasi Secures €1.1 Million Pre-Seed Funding to Revolutionize Machine Management

Norwegian contech startup Leasi secures €1.1 million in pre-seed funding to revolutionize construction machine management
July 2, 2024

Leasi, an emerging leader in construction technology, has successfully secured €1.1 million in pre-seed funding, marking a significant milestone in its mission to transform machine management in the construction industry. This funding round saw contributions from industry giants such as Skanska, Norway’s prominent early-stage investor StartupLab, Gnist Capital, and Weseed, along with grants from Innovation Norway.

Founded in 2022 by three master’s students in Trondheim, Leasi has quickly gained recognition for its innovative approach to managing construction machinery. The company's solution addresses a critical gap in the market, as identified by Skanska during their search for an optimal system to manage their extensive machine fleets. Despite thorough market research, Skanska found no existing solutions that met their needs—until they encountered Leasi.

“We aim to establish Leasi as the industry standard on a global scale, and having a leading global player like Skanska recognize the value we provide is an incredible validation. We are also receiving interest from other global actors and look forward to the road ahead with such strong players by our side,” stated Scott A. Bekke, CEO of Leasi.

The partnership between Leasi and Skanska was solidified in January with a contract that has since attracted significant attention from other key industry players, extending as far as Japan. This momentum underscores the growing demand for Leasi's comprehensive machine management solution.

“Bringing onboard both leading industry player Skanska and Norway’s top early-stage investor StartupLab as shareholders is a crucial step for us now. It enhances our credibility and market reach, even beyond Norway. The collaboration accelerates the transition from development to testing and implementation, giving us more room for innovation and allowing us to deliver faster and more effectively,” added Bekke.

Leasi’s software solution empowers contractors like Skanska to integrate and analyze data from all machines and equipment within their operations. This includes data on operational performance, maintenance schedules, utilization rates, emissions, and financial metrics. For Skanska Norway, Leasi’s system will manage over 8,000 units of machinery and equipment.

The collaboration with Skanska provides Leasi with invaluable insights and practical experience, which will be crucial as their solution is implemented across Skanska and its subsidiaries throughout 2024. This partnership is not only a testament to Leasi’s potential but also highlights Norway’s leading role in digitizing the construction industry.

Leasi’s innovative approach integrates data from traditionally siloed solutions, driving operational efficiency, sustainability, and optimized capital allocation within the construction sector.

Gisle Østereng, Head of Investments at StartupLab Ventures, expressed his enthusiasm: “We at Startuplab are delighted to become an investor in Leasi. Over time, our team has observed Leasi’s development and, together with our partners in construction, we have become convinced that we should also participate as an investor in the company’s growth. We look forward to the coming years and hope the entire industry will recognize the commercial and environmental benefits that Leasi offers.”

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