Parallelo raised NOK 5.5 million.

Parallelo, an Oslo, Norway-based startup developing software solution for the architecture companies, raised fresh funding in a round closed at NOK 5.5 million ($650k).

The money was raised from new and existing shareholders, including Hancon AS and Arctech AS.

Parallelo was founded in 2019 as a spinoff from the architecture firm TAG Architects - both led by CEO Lars Eirik Ulseth. The company is developing a software solution that specifically sources, analyzes and illustrates the optimal combination of apartments and room solutions in large, urban housing projects.

Prior to this round, Parallelo raised NOK 4 million from two private investors from Norway - Stegg Eiendom and Tina Kjeldsen.