A provider of cloud-based data management and collaboration solutions is planning to expand its applications for the construction industry after securing a £31m funding boost.
Cintoo has successfully close a €37m Series B funding round. The round was led by Partech, a global tech investment firm, with existing investors Amavi Capital and Armilar Venture Partners also joining the round.
With the fresh funding, Cintoo says it will enhance its SaaS platform by expanding its portfolio of integrations and will double down on investments to provide cutting-edge applications for the construction and industrial sectors.
This includes building on its brand-new industrial metaverse experience and automatic asset tagging capabilities. These efforts will foster its international growth in the US and Europe.
Dominique Pouliquen, chief executive of Cintoo, said: “We are thrilled to partner with a new, renowned investor that shares and backs our vision.
“This investment will allow us to accelerate the development of our platform, expand our global footprint, and continue to innovate in the field of Reality Data management. This funding is a testament to the value and potential of the Cintoo platform, and it will help us meet the growing demand from our customers across multiple industries.”
Founded in 2013, Cintoo specialises in transforming large 3D laser scan data into high-resolution 3D meshes that are 10 to 20 times smaller without – it claims — sacrificing accuracy.
Its SaaS platform enables organisations using terrestrial, mobile, or drone scanners to efficiently manage, share, and collaborate on their Reality Capture data. Cintoo’s ability to reduce the size of scanned data without compromising resolution enables faster uploads and reduces storage needs.
Omri Benayoun, general partner at Partech, said: “We believe Cintoo is transforming how large manufacturing and construction companies innovate and collaborate thanks to their innovative ‘as-built’ digital twin platform.
“Their visionary and scalable platform addresses a critical need in the market. We look forward to supporting Cintoo in their growth journey as they further deliver exceptional value to their customers.”
According to Cintoo, the use of laser scanning continues to grow in Building Information Modeling (BIM) and construction, becoming a valuable part of project workflows for design and quality assurance.
So-called Industry 4.0 markets are also booming, with Reality Capture providing accurate as-built information for digital twins to enable asset management workflows. Automotive and manufacturing plants around the world are also leveraging the potential of 3D scan data acquired from a diverse range of laser scanners, ultimately helping professionals to virtually transform their factory operations.
Main image: The Cintoo team
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