Reconstruct
Deal: $850,000
Investors: The round was led by Serra Ventures, with participation from Grand Angels Venture Fund, Illinois Ventures and Harbor Street Ventures.
What they do: Born out of the University of Illinois, Reconstruct uses drones to create 3D modeling for construction management. The startup uses aerial drones to take video and images of construction sites to provide construction progress monitoring. Reconstruct's technology can quickly identify problems during the construction process and communicate issues to site managers via smartphones and tablets.
Built by a team of university professors, the startup began as a project called the Flying Superintendents. They've commercialized the project with Reconstruct, which is housed in University of Illinois Research Park. In 2015 the team received a nearly $1 million award through the National Science Foundation.
Other details: Reconstruct's technology was used in the construction of the new $500 million arena for the NBA's Sacramento Kings. The technology helped inform project stakeholders about at-risk locations on the project site and help create a more productive workflows for construction. Reconstruct won a Turner Construction Innovation Award for its work with the Kings.
Image via Sacramento Kings
