Threedy raises 1.8m euros in seed funding as it enters the market with instant3Dhub – a visual computing as a service platform for large 3D data models
Threedy is a spin-off from Fraunhofer Institute for Computer Graphics Research IGD in Darmstadt, Germany. It has now raised early-stage venture capital to commercialize its instant3Dhub platform. This platform primarily supports visualization, virtual reality (VR) and augmented reality (AR) applications, and will initially serve companies in the automotive, aerospace and energy industries, as well as users of building information modeling (BIM) solutions. The investment is led by the Industrial Technologies fund of btov Partners, in association with High Tech Gründerfonds (HTGF) and Fraunhofer.
Threedy’s instant3Dhub proprietary platform for high-performance visual computing allows customers to leverage the full potential of their 3D data. The technology enables data sets of any size to be used across all application and device classes, directly connected with business data and sensors for a variety of applications. Building upon extensive Fraunhofer IGD research, the team of four company founders has successfully demonstrated a broad variety of use cases in manufacturing.
instant3Dhub can be easily integrated into existing PLM systems. It offers a wide range of features, e.g., for distributed collaboration in engineering processes, for VR and AR on assembly lines and in repair shops, for tracking moving objects using 3D models, and for offline operation of applications when stable online connections cannot be guaranteed. Leading German automotive OEMs already utilize Threedy’s flexible platform, and there is an attractive pipeline of new projects and use cases for 2021.
Growing customer base and use cases
At Threedy, the team is excited to be founding a full-fledged company, developing the business, and exploring new use cases in collaboration with their customers. Christian Stein, CEO of Threedy, highlights: “instant3Dhub allows our customers to exploit the full potential of their 3D data, across all application and device classes – and to directly integrate those data with business or sensor data for digital twin scenarios.”
The team decided to seek venture capital to fulfill their ambition to commercialize the platform in the mid-term, and to expand the product offering. New use cases range from simple 3D apps for dynamic processes to sophisticated expert tools – from minimum viable product (MVP) to production with a single flexible and scalable solution.
Moreover, there is a need to establish a sales organization to serve the growing customer base and to address emerging opportunities for technology partnerships and value-added resellers. “Building upon established cloud infrastructures, instant3Dhub delivers a unique user experience and can perform a wide range of visual computing tasks,” explains Johannes Behr, Head of Products at Threedy.
On the part of the investors
“We are proud to be supporting Threedy’s commercial journey from the outset. Christian and his team have done a great job during the spin-off process and were able to develop significant new sales opportunities in recent months," says Robert Gallenberger, a partner at the btov Industrial Technologies Fund. “Threedy offers an enabling technology for use cases and business models that require visualization and rendering of large 3D models on devices not originally built for demanding applications.”
“instant3Dhub is a gem just waiting to be polished. We are pleased to be spinning off Threedy at this juncture, and to be co-investing with btov and HTGF to jointly scale up this already successful research venture to the next level of commercialization,” states Dr. Matthias Unbescheiden, Deputy Director of Fraunhofer IGD.
Gregor Haidl, Investment Manager at HTGF, is excited: “Threedy will transform the way industrial customers visualize and work with 3D data in the future. Threedy’s visualization platform enables the device-independent integration of 3D data across the entire value chain, from R&D to after-sales. It is also a potential game changer for virtual and augmented reality in industrial applications.”
Threedy is a spin-off from Fraunhofer Institute for Computer Graphics Research IGD in Darmstadt, Germany to commercialize its instant3Dhub platform. This platform primarily supports visualization, virtual reality (VR) and augmented reality (AR) applications, and will initially serve companies in the automotive, aerospace and energy industries, as well as users of building information modeling (BIM) solutions (https://www.threedy.io)
About Fraunhofer IGD
Founded in 1987, the Fraunhofer Institute for Computer Graphics Research IGD is the world’s leading institute for applied research in visual computing¾ computer science based on images and 3D models. We turn information into images and images into information. Keywords are human-machine interaction, virtual and augmented reality, artificial intelligence, interactive simulation, modeling, 3D printing and 3D scanning. Around 180 researchers at three locations in Darmstadt, Rostock and Kiel in Germany develop new technology solutions and prototypes for industry 4.0, digital healthcare and the smart city. In cooperation with its sister institutes in Graz, Austria and in Singapore, they also take on international relevance. With an annual research volume of €21 million, we use applied research to help in the strategic development of industry and the economy. (www.igd.fraunhofer.de)
About btov Partners
btov Partners, founded in 2000, is a European venture capital firm focusing on digital and industrial technologies. btov’s network of entrepreneurial private investors provides it with unique expertise and access to non-obvious investment themes and founders. The btov Industrial Technologies Fund focuses on hardware and software innovation with industrial use cases such as automation, robotics, data analytics, Industrial AI, additive manufacturing and quantum computing. The btov Digital Technologies Fund focuses on startups primarily in AI, fintech, SaaS, logistics and digital marketplaces. btov has seen waves of innovation like machine learning or fintech very early on and is one of the most successful backers of AI companies in Europe. With offices in Berlin, Munich, St. Gallen and Luxembourg, the company manages assets of more than EUR 500 million. Its network of private investors consists of 250 experienced entrepreneurs and executives from all over Europe. The most well-known investments include Data Artisans, DeepL, Dyemansion, Effect Photonics, Finanzcheck, Immatics, ORCAM, Quanta, Raisin, SumUp and Volocopter. (https://btov.vc/industrial-tech-fund/)
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.7 billion into the HTGF portfolio via more than 1,600 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. (https://www.htgf.de/de/)
About Fraunhofer Venture
Fraunhofer Venture is the central department for spin-offs and investment management of the Fraunhofer-Gesellschaft and offers founders, start-ups, Fraunhofer Institutes, industry, and investors access to the cutting-edge technologies of the 74 Fraunhofer Institutes, the Fraunhofer infrastructure and Fraunhofer know-how with over 7,000 patent families. The range of services includes complete support and consulting from the idea to the founding of a company, active participation management of Fraunhofer participations, support with finding investors up to a possible sale of the company and is flanked by the AHEAD company builder as well as other offerings.