Cintoo, a cloud-based Reality Data management solutions located in Biot-Sophia Antipolis, France and Miami, has announced the close of a €37 million Series B funding round led by Partech, with additional investments from Amavi Capital and Armilar Venture Partners. This latest round of funding will enable Cintoo to deepen its commitment to the construction and industrial sectors by enhancing its SaaS platform, advancing metaverse experiences, and expanding into the US and European markets.
Founded in 2013, Cintoo has built its reputation by transforming extensive 3D laser scan data into high-resolution 3D meshes that are 10 to 20 times smaller, maintaining accuracy and enabling faster upload times with reduced storage needs. This approach has made Cintoo a preferred choice for over 500 companies across 40 countries in sectors like architecture, engineering, automotive, and energy. The Cintoo Platform is hosted on secure cloud services, including Microsoft Azure and Amazon Web Services, ensuring high levels of security and regulatory compliance, including SOC 2 Type 2 and ISO 27100 certifications.
With this fresh capital, Cintoo aims to bolster its platform’s capabilities, focusing on expanded integrations and state-of-the-art applications such as industrial metaverse experiences and automatic asset tagging. “We are thrilled to partner with a new, renowned investor that shares and backs our vision,” said Dominique Pouliquen, CEO of Cintoo. “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.”
Partech’s General Partner, Omri Benayoun, expressed strong support for Cintoo’s approach, stating, “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, and we look forward to supporting Cintoo in their growth journey.”
The funding will also allow Cintoo to continue supporting a booming laser scanning market, which is becoming an indispensable tool for Building Information Modeling (BIM), quality assurance, and Industry 4.0 workflows. Reality Capture provides highly accurate as-built information for digital twins, increasingly used in asset management and factory operations within manufacturing plants.
Scaling in a Growing Market
The global 3D scanning market was valued at $3.7 billion in 2020, and its size is projected to grow to $16.7 billion by 2030. As the market expands, Cintoo’s flagship product, the Cintoo Platform, continues to lead with its TurboMesh™ engine, which ensures high-quality 3D scans while enabling smooth navigation and visualization. Recent platform updates include the launch of the Cintoo Metaverse portfolio, bringing highly detailed as-built conditions into Industrial Metaverse applications.
Reflecting on Cintoo’s growth, CEO Dominique Pouliquen acknowledged the early support from investors such as UI Investissement, Region Sud Investissement, Sofipaca, and Creazur, as well as the ongoing commitment from Amavi Capital and Armilar Venture Partners. “Our journey since launching the Cintoo Platform in 2019 has been hugely rewarding and successful,” Pouliquen noted. “This funding will help us continue to meet the growing demand from customers across multiple industries and unlock new potential within the expanding Reality Data sector.”
With its strategic funding and an expanding portfolio, Cintoo aims to drive the future of Reality Data management, contributing to the digital transformation of industries across the globe.
Read the orginal article: https://www.eu-startups.com/2024/11/biot-based-cintoo-secures-e37-million-to-accelerate-ai-and-metaverse-innovations-in-reality-data-management/
