Prevu3D, a Montreal, CA-based provider of 3D digital twin technology, announced that it closed $10 million in Series A funding.
The round was led by Cycle Capital, a leading growth-stage climate tech venture capital firm, with participation from Brightspark Ventures and Desjardins Capital.
The new funding will enable Prevu3D to build on its longstanding vision of reimagining the physical world, extending and accelerating the deployment of its 3D digital twin platform for industrial environments.
Prevu3D's solution enables enterprises to create better work environments and accelerate their digital transformation by enabling remote collaboration, improving processes, reducing industrial carbon footprint, and minimizing human errors that can have significant environmental impacts.
"The future is bright for this market, and the expectations for its growth over the next few years are massive. Prevu3D aims to lead the way and continue to work closely with industry leaders to drive efficiency and build applications to solve today's challenges and beyond," said Nicolas Morency, Prevu3D Founder, and CEO. "We are extremely honored to welcome Cycle Capital to our group of investors who believe in our vision and will be there to help us make it a reality."
Combining intuitive gaming technology, 3D scanning, and cloud computing, Prevu3D enables enterprises to optimize their operations and accelerate their digital transformation - taking their first steps into the industrial metaverse.
Company: Prevu3D, Inc.
Raised: $10.0M
Round: Series A
Funding Month: February 2023
Lead Investors: Cycle Capital
Additional Investors: Brightspark Ventures and Desjardins Capital
Company Website: https://www.prevu3d.com/
Software Category: 3D Modeling Software
About the Company: Prevu3D IS developing advanced software tools that facilitate better management of industrial installations. It offers a unique solution to the challenge of operating large indoor and outdoor spaces through simple collaborative 3D software. Prevu3D’s software was designed with ease of use in mind, providing users with an intuitive interface to create, edit, and share interactive 3D models based on real-life environments. Prevu3D’s solution yields a multitude of concrete benefits across various uses. Today, Prevu3D’s solution is used in various industries, such as manufacturing, food production, oil & gas, and construction.
Source: https://www.prevu3d.com/news/prevu3d-raises-10m-cycle-capital-brightspark-desjardins/