DGG, a Darmstadt, Germany-based deeptech startup, secured €4 million in new funding to accelerate the development of its 3D optimization software, RapidCompact.
The round was led by European venture capital firm IRIS, along with participation from existing investors RenderedVC, FTTF, 3VC, and business angels Charlie Songhurst and Chris Schagen.
The funding will also be utilized for global expansion, a partner program, and research and development on real-time 3D, augmented reality (AR), and extended reality (XR) applications.
DGG’s 3D optimization software, RapidCompact is a unique technology that enables the automatic creation of optimized 3D assets for eCommerce and other applications. The startup is expanding its product line and offers a platform for technology partners as well as custom integrations for large enterprise clients.
“What might sound complicated is actually really simple for our users: our technology allows them to create and display 3D models just the way YouTube allows content creators to upload their content with a drag-and-drop feature. Our ultimate goal is to make 3D technology accessible to all retailers and product creators through an API with the essential building blocks, and this new funding will help us boost our growth and R&D,”, said Max Limper, DGG’s Co-Founder and CEO.
Additionally, the DGG team is working on a new product that automatically converts offline CGI assets to real-time 3D formats. This innovation, to be presented at the SIGGRAPH conference in Los Angeles, aims to address the challenge of broader adoption of 3D technology within the retail industry, paving the way for further advancements in digital retail.
Company: Darmstadt Graphics Group GmbH
Raised: €4.0M
Round: Unknown
Funding Month: July 2023
Lead Investors: IRIS
Additional Investors: RenderedVC, FTTF, 3VC, Charlie Songhurst and Chris Schagen
Company Website: https://www.rapidcompact.com/
Software Category: 3D Optimization Software
About the Company: Darmstadt Graphics Group (DGG) is a deep-tech SaaS company that offers an automated tool for 3D data optimization known as RapidCompact. RapidCompact's software and API allow eCommerce clients and platform partners to integrate the technology into their backend infrastructure, enabling merchants to automatically upload 3D models of their products, regardless of size, complexity, or format. DGG is already serving leading retailers worldwide, including Adidas, Crate & Barrel, and Otto Group, as well as key eCommerce platform partners like Shopify and Adobe.
Source: https://www.rapidcompact.com/dgg-raises-4m/