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 “Melvin and his team bring decades of industry knowledge to estimating, one of construction’s most outdated processes.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.
Doubling down on the AI explosion, PataBid is developing an agentic AI dubbed Newton that it will integrate into the platform. Newton is currently in beta testing, with a launch planned for 2027.
In 2025, PataBid was named a Top 10 startup during Calgary Innovation Week, which ultimately led to its selection for the TELUS Sovereign AI Accelerator program.
RELATED: Former Graphite Ventures analyst to launch new Vancouver incubator Althra
Final thought: Across the sectors PataBid serves—namely, electrical, mechanical, fire protection, and plumbing—the company says there are an estimated 463,000 contractors in North America. With a licensing fee of $2,460 per year, that gives the company significant room to grow both its market share and revenue.
BetaKit’s Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.
Feature image by gpointstudio via Freepik.