Reconstruct puts together $7.7m series A

Reconstruct, a US-based developer of digital twin software for the construction and real estate industries spun out from University of Illinois at Urbana-Champaign, obtained $7.7m on Tuesday in a series A round led by venture firm Cultivation Capital.
Fellow VC firms Serra Ventures and Seyen Capital participated in the round.
Founded in 2016, Reconstruct has built a web-based analytics platform dubbed the “visual command centre” that exploits machine learning and computer vision to meticulously track and predict the condition of physical assets such as buildings.
The software is marketed to the construction and real estate sectors. It uses an exact virtual replica of the client’s assets, processes and systems – known as a digital twin – in combination with 3D timelines that allow stakeholders to monitor building projects with an eye on fundamental decisions such as financing and insurance.
Reconstruct’s research and development team is based at University of Illinois, though its management is located at Menlo Park in California.
The spinout was founded by Mani Golparvar, associate professor at University of Illinois at Urbana-Champaign, together with his colleague Derek Hoiem, assistant professor of computer science.
Serra Ventures led Reconstruct’s $2.4m seed round in March 2018 with participation from unspecified investors, after leading a 2016 transaction also billed as seed-stage that included Grand Angels Venture Fund, Illinois Ventures and Harbor Street Ventures.
Reconstruct’s regulatory filings indicate both transactions formed part of the same round, with $850,000 of equity issued in the 2016 tranche.