Auckland and Budapest, 28 September 2021
Cerulean Labs has raised $1m to fund the commercial launch of their iPad-based Spaces app, a sketch-centric conceptual design tool for architects.
Existing shareholders and new investors supported the round, and founder Campbell Yule says external validation of the business and support from angel groups - including Launch Taranaki, MIG Angels, Flying Kiwi Angels and Angel HQ - heralds an exciting phase of growth.
Ian Frame, chair of Launch Taranaki and former CEO of private equity firm Rangatira Investments, joins Cerulean Labs as chair, and says Yule’s deep knowledge of the sector, familiarity with pain points for architects, and Spaces’ potential to integrate with existing platforms attracted the angels.
“Conceptual design is necessary for determining the feasibility of a project, and once a client decides they want to proceed, Spaces will transition into the existing detailed design software systems that are out there,” says Frame.
Budapest-based Yule is well placed, too: “A kiwi based in Europe right now is a really distinct advantage in launching a new product on the global market,” says Frame.
Since its initial capital raise in 2020, Cerulean Labs has refined Spaces, expanded product and development teams in Hungary, the UK and New Zealand and completed open-market beta testing.
“We’re excited to take Spaces to the broader market, supporting architects to quickly translate sketches into plans with real building information data,” says Yule.
About Spaces by Cerulean Labs
All great architecture starts with a line - Spaces by Cerulean Labs is reinventing conceptual design for architecture. By combining sketching with the power of the iPad, Spaces provides a fast, flexible and fluid workflow allowing architects to sketch design options quickly. At the same time, live building data is at your fingertips to inform your design decisions every step of the way.
For more information:
Campbell Yule - Founder