3D Repo announce £2.3m Series A funding round
Tech specialist law firm Temple Bright has advised 3D Repo, the pioneers of cloud-based design collaboration in Building Information Modelling (“BIM”), on a £2.3m Series A investment round.
Cutting edge technology by 3D Repo has been successfully deployed on some of the largest and most prestigious construction projects with companies such as Atkins, Balfour Beatty, Bryden Wood, BuroHappold, Canary Wharf Contractors and Crossrail among others.
3D Repo’s multi-award-winning digital platform for BIM data allows users to manage 3D model revisions and to highlight potential clashes and safety issues using live collaboration tools which enable the whole project team to work through a single conduit.
The result is the mitigation of risk and reduction of complexity. Instead of architects, engineers and contractors sharing large proprietary files in a costly and time-consuming manner, they can simply point their web browser to an encrypted cloud platform to examine each project stage virtually.
The investment round was led by Ingenious Group, via its Infrastructure Ventures EIS Service.
Dr Jozef Dobos, Founder and CEO of 3D Repo, said: “3D Repo is a powerful digital construction platform that has already helped many of our clients improve communication, coordination and collaboration. Having the backing of Ingenious means that we can continue to support the country’s foremost digital construction champions and drive the use of 3D Repo on the most challenging infrastructure projects globally.”
Guy Ranawake, Senior Investment Director at Ingenious, commented: “There has been solid growth in the use of BIM worldwide and especially in the UK following the government mandate for BIM Level 2 on all large-scale public sector construction and infrastructure projects since 2016. 3D Repo’s online platform has excellent collaborative tools that allow teams to achieve all the benefits promised by BIM, consistently helping projects meet cost and time targets. We are very happy to support 3D Repo and look forward to seeing the growth of the company which aligns strongly with our investment strategy and infrastructure sector focus.”
This article appeared on the Business Leader website on 31 January 2020.