tech
PataBid raises $2 million to expand AI construction estimator
PataBid raised $2 million in pre-seed funding led by Graphite Ventures to expand its AI construction estimator.
Key points
- PataBid raised $2 million in pre-seed funding led by Graphite Ventures to accelerate its AI construction estimating tool.
- The company's Quantify platform uses AI to prepare construction project estimates from drawings in a matter of hours.
- PataBid is beta testing an agentic AI called Newton that is planned for launch in 2027.
Why it matters. The funding supports the commercialization of AI tools designed to replace manual and legacy estimating processes in the construction industry.
Calgary-based PataBid has raised $2 million in pre-seed funding led by Graphite Ventures, with participation from Sprout Fund, Bluesky Equities, Inverted Ventures, and angel investors. The company plans to use the funds to scale product development, expand its distribution network, and accelerate commercialization across North America. PataBid is developing an agentic AI called Newton, which it says will launch in 2027.
Latest updates
PataBid raises $2 million to expand AI construction estimator
Calgary startup is developing agentic AI it says will launch next year. The post PataBid raises $2 million to expand AI construction estimator first appeared on BetaKit . Calgary startup is developing agentic AI it says will launch next year. Calgary’s PataBid has raised $2 million in pre-seed funding to help accelerate the commercialization of its AI-powered construction estimating tool. The news: PataBid announced the funding on Tuesday, telling BetaKit the round was led by Graphite Ventures with additional participation from Sprout Fund, Bluesky Equities, Inverted Ventures, and prior angel investors. Funding will go toward scaling PataBid’s product development capabilities, expanding its supply and distribution network, and accelerating commercialization across North America. From the source: “PataBid has built something contractors genuinely need,” said Adrian Mitchell, principal at Graphite Ventures, in a statement. “Melvin and his team bring decades of industry knowledge to estimating, one of construction’s most outdated processes. It’s a pain contractors feel on every bid.” The context: PataBid’s platform Quantify is marketed as a replacement for manual and legacy estimating tools used by the construction industry. Integrating AI, Quantify is capable of preparing estimates for construction projects based off of project drawings in a matter of hours, according to PataBid.
Calgary startup PataBid secures $2 million in pre-seed funding to expand artificial intelligence construction tool
Calgary technology startup PataBid has successfully closed a $2 million pre-seed funding round to accelerate the commercialization of its construction estimating software. The investment was led by Graphite Ventures, with participation from strategic angel investors in the technology and construction sectors. PataBid is currently developing advanced agentic artificial intelligence capabilities scheduled for commercial launch next year. The fresh capital will be deployed to expand engineering teams and scale market adoption across North America.