In addition to Alstin Capital, existing investors are also participating High-Tech Founders Fund, Bavaria Capital, Astutia Ventures, and Foundamental participated in the financing round. Reinvent develops software that digitizes the entire information and communication process between project participants and buyers or tenants in construction and real estate projects.
"The construction industry has traditionally been characterized by a lack of clarity and planning and cost transparency, triggered by complex value chains and many independent players in the construction industry. The industry's productivity suffers as a result and is about 30 percent below the level of the overall economy,"
says David Uhde, Managing Director and Founder of Reinvent.
"To date, less than 12 percent of construction companies use digital planning tools. However, the COVID-19 pandemic has dramatically increased the willingness to embrace digitalization in the construction industry, and decision-makers are increasingly looking for innovative solutions for construction and real estate management."
Maschmeyer: “Reinvent is already revolutionizing the construction industry”
Reinvent's software solution connects project participants for communication, collaboration, and document management on a cloud platform. This platform consolidates the information, tasks, and documents relevant to all participants and automates workflows. The software also offers several solutions for buyers and tenants: interactive property brochures, 3D apartment configurators, digital tools for special request management, and property acceptance.
Carsten Maschmeyer, Managing Partner at Alstin Capital, says:
"Reinvent is Alstin Capital's first proptech investment – and it's already revolutionizing the construction industry. Previously, the processes from planning to handover of the property were purely analog, chaotic, and non-transparent. This often led to significant and costly misunderstandings and problems between buyers and developers. With Reinvent, the organizational and communication effort is reduced to a fraction of the original, costs are lowered, construction progress becomes more transparent, and everyone involved always has access to the same information."
For Reinvent, after a Seed investment at the end of 2018 the second round of financing.
