NavVis has received €25m (c.£21m) of fresh equity funding that complements the recent €20m (c.£17m) debt funding from the European Investment Bank (EIB), raising the total investment to €85m (c.£72m).
The round was led by Cipio Partners, with additional capital from previous investors, BayBG, MIG, Target Partners, Digital+ Partners, and Kozo Keikaku Engineering.
The new funding positions NavVis as one of the best-funded deep tech startups in Europe, the company said.
NavVis plans to leverage the investment to vastly expand operations to meet the demand for its 3D scanning and digital twin solutions.
The startup also plans to scale its R&D teams to further strengthen its technological leadership position in SLAM software (simultaneous localization and mapping), reality capture, visual positioning, and digital twin technologies.
Georg Schroth, NavVis’s CTO and Co-founder, said: “At NavVis, our mission is to grant immediate access to reliable information about buildings from anywhere in the world. This information is the foundation for almost all processes that touch the world’s most valuable asset class – the built environment.”
Felix Reinshagen, NavVis CEO and Co-founder, said: “We are excited to have the experienced and tech-savvy team from Cipio Partners leading this funding round.
“And we are proud of the vote of confidence from our existing investors who all also contributed. Spatial data is a fundamental building block for digital twin technology and many industrial applications.
“Augmented reality and the metaverse need spatial data at scale to fulfill their promise. This new funding will allow us and our customers to capture and work with spatial data at unseen scale and utility.”
Dr. Ansgar Kirchheim, Venture Partner at Cipio Partners, added: “I have been following NavVis for a few years and after joining Cipio Partners reached out immediately.
“Their groundbreaking technology enables the easy digitisation of the built environment, which, combined with strong leadership, has allowed NavVis to grow strongly.
“They have really seized the market opportunity and we are very much looking forward to supporting NavVis to become the one-stop shop for all reality capture and digital twin needs.”
Image credit: NavVis
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