Montreal’s PreVu3D will double its headcount after raising $2.5 million in capital from Brightspark Ventures.
PreVu3D provides a software solution where users can create, edit and collaborate on 3D replicas of real-life environments. The funding round includes participation from Desjardins Capital and returning investor Deepcore Tokyo, bringing PreVu3D’s total funding to $3.3 million.
Founded in 2017 by mechanical engineers looking to improve their own practices, the company developed an intuitive software solution where users can create, edit and collaborate on 3D replicas of real-life environments, or “digital twins”.
With PreVu3D, users can explore 3D scanned space with freeview, third person and vehicles. They can take quick measurements on the go (line, surface, volume) and even extract 3D sections of the space in real-time and reorganize their environment. From there, users can Import and place 3D and CAD models from various industry standards.
The company plans to deliver improvements to its cloud-based platform with the new funding. It also wants to double its headcount with a focus on sales and marketing.
To date, nearly 40 million square feet of interior and exterior spaces have been processed and modelized on PreVu3D’s platform. The tool saw rapid adoption in the manufacturing industry, where the company created photorealistic 3D digital replicas factories. This allows users to modify the space by adding, deleting or moving any element in just a few clicks.
CEO Nicolas Morency predicts that the market for digital twins will increase “tenfold within five years.” Armed with the new funding, Morency says PreVu3D can be a major player spearheading that growth.
“COVID-19 is accelerating the need for businesses to interact with their physical spaces remotely or rethink their existing setups,” said CEO Nicolas Morency. “The manufacturing industry is in the midst of a digital revolution. Recent technological advances in 3D image capture now offer speed and quality, in addition to being affordable and available worldwide. PreVu3D is democratizing this type of solution by making interactive 3D spaces accessible to everyone via our automated platform – across all industries and devices.”