NOK 120m · Other round · Telecom · Stockholm, Sweden
Stockholm-based OciusX is raising a NOK 120m transaction with Viking Growth to expand its U.S. operation and continue product development. The deal combines new growth capital with Viking Growth's purchase of existing shares, so the full headline amount should not be read as cash going onto the company's balance sheet. Swedish business publication Breakit reported the same financing as SEK 125m and called it OciusX's first venture-capital raise.
OciusX builds construction-management software for companies deploying fiber networks and other linear infrastructure. Field crews record completed work with photos and data in a mobile app; project managers can then track progress on a map, inspect and approve work, preserve as-built documentation and generate material for invoicing. The company says the product can connect with Vetro Fibermap, Esri, Power BI and ArcGIS design software through integrations and APIs, according to its product documentation.
Turning field evidence into billable work
The commercial mechanism is narrower than generic project management. Fiber construction moves through several organisations: crews perform the work, contractors need proof, operators or owners approve it, and finance teams need documentation before invoices can be paid. OciusX puts the same field record through that chain. If data is captured correctly at the point of work, customers have less reason to reconcile photos, spreadsheets, maps and change requests afterwards.
That workflow also helps explain the company's expansion within existing accounts. Viking Growth says OciusX now serves more than 80 customers in seven countries, with over 3,000 field crews using the platform each week. The investor reports annual recurring revenue growth of 69% over the past year and net revenue retention above 130%, while roughly 90% of the company's business now comes from the U.S. Those are company and investor figures, but together they suggest that usage can grow as customers add projects and crews rather than only through new-logo sales.
U.S. scaling tests repeatability
OciusX began as an internal tool in 2013 and launched commercially in 2019. Viking Growth says the company has 13 employees, making the planned expansion a test of whether a field-built product can be sold and supported repeatedly across a much larger geography. The funding will expand the U.S. sales organisation and product development; OciusX also sees longer-term opportunities in electricity, water and gas infrastructure.
The product's advantage is its fit with work already happening on site. The execution risk is keeping that fit while onboarding more customers, integrating with their design and reporting systems, and maintaining consistent data across many contractors. Success in adjacent infrastructure markets would depend on reusing the same evidence-to-approval workflow without turning each deployment into a custom implementation.
Sources checked:
Viking Growth announcement · Breakit report · OciusX product page · Tech.eu Funding Explorer
