Germany-based indoor mapping technology provider NavVis received $35.5m yesterday in a series C round featuring architectural engineering firm Kozo Keikaku.
The round was led by venture capital firm Digital+ Partners and included and BayBG, a venture capital arm of Bavarian state bank LfA Förderbank Bayern, as well as VC firm MIG and VC fund Target Partners.
Founded in 2013, NavVis provides a digital platform that maps indoor spaces by using 3D scanning hardware and visualisation software. Its customers include carmaker Daimler, insurer Allianz, telecommunications firm Deutsche Telekom and electronics producers Huawei and Lenovo.
Felix Reinshagen, co-founder and CEO of NavVis, said: “The major German automotive manufacturers, who served as early adopters, paved the way for our digital twin technology to transform how enterprises will operate in the future.
“As a result, we are now experiencing a tremendous surge in demand for our well-established and trail tested platform.”
The series C funding will be used to support the company’s international growth plans and the development of its core product.
NavVis raised $8.3m in a 2015 series B round led by Target Partners that included MIG Fonds, BayBG and angel investor Don Dodge, a year after it closed a $1.8m series A round led by BayBG and backed by MIG and assorted angel investors.