Serbian-American platform Lupa Technology, which offers data management solutions for the construction sector, has secured $1.8 million to expand into new markets. The investment was backed by South Central Ventures and the World Bank/EU Commission, as Lupa Technology told Vestbee.
- Founded in 2021 by Milan Jankovic and Dorde Nedeljkovic, Lupa Technology is a cloud-based SaaS for the construction industry, transforming unstructured data into valuable information. All types of documents, data, and drawings from multiple sources are stored on one platform, allowing users to easily analyze their material's quality and relevancy.
- Lupa's clients include global real estate developers, general contractors, construction law firms, engineering companies, and insurance companies. They use the platform for real-time processing and forensic analysis across key markets, including the USA, UK, EU, and GCC regions.
Details of the deal
- South Central Ventures led the $1.5 million investment in Lupa Technology. A venture capital firm specializing in tech startups, South Central Ventures has offices in Ljubljana, Zagreb, Belgrade, and Skopje. The firm has invested in 40 early-stage companies, including Cognism, AdScanner, Insightful, and Orgnostic.
"We are thrilled to support Lupa Technology as they redefine data management standards in the construction industry. We are excited to see the fast adoption of Lupa’s technology by industry leaders and the value they are getting by using it, and at the same time, truly impressed with the quality and dedication of the Lupa team. We believe that this investment positions Lupa for success in disrupting the construction industry with transformative AI-driven solutions." Partner in the South Central Ventures Fund, Goran Stevanovic, stated in a press release.
- An additional $300,000 was added to the seed investment round by the World Bank/EU Commission.
- With the seed investment, Lupa Technology plans to accelerate its expansion across key markets, enhance its user interface, and continue its trajectory as a pivotal player in construction-related AI and R&D.
“Having bootstrapped our journey so far, we are thrilled to secure this significant investment led by South Central Ventures and joined by Katapult Accelerator (supported by the World Bank and EU Commission). Our platform is gaining significant traction in the market due to its maturity and practical impact on businesses, helping Clients take bold steps in their digital transformation,” CEO at Lupa Technology, Vladimir Milovanovic, commented in a statement.
