reINVENT, a Munich, Germany-based construction tech startup, closed a €1m first financing round.
The round was led by High-Tech Gründerfonds (HTGF) with participation from Foundamental, Bayern Kapital and Astutia Ventures.
The company intends to use the funds to expand its sales team and develop new software features.
Co-founded by Prof. Dr. David Uhde, Valentin Rüchardt, Christian Brachert and Julian Stieghorst, reINVENT provides construction software, which offers 15 features that connect all stakeholders during the entire lifecycle of construction projects on a centralized platform
The solution addresses large-scale residential construction companies, property owners, project developers, architects, contractors, planners and partners and facilitates communication, collaboration, and exchange of data.
The company, which has now over 15 employees, is planning to increase its sales activities and market presence as well as to adapt its software to other construction areas such as office, retail, or hotel projects.