The Munich startup NavVis continues to soar. In October, the company presented its new digitization technology together with the Deutsches Museum; now, thanks to a successfully completed Series A financing round, further development and market expansion are being driven forward.
https://www.youtube.com/watch?v=yebX_S376Fw
The high-tech company founded in Munich specializes in the development of products and applications designed for centimeter-accurate indoor mapping and navigation. Using a mapping trolley—a mobile scanner equipped with lasers and cameras—it is now possible for the first time, and for anyone, to capture entire buildings in three dimensions in a very short time. NavVis is closing the Series A financing round with BayBG Bayerische Beteiligungsgesellschaft and MIG Fonds.
“Global Billion-Dollar Market”
© NavVis
NavVis Managing Director Dr. Felix Reinshagen now wants to “rapidly expand our technological lead. That is why we need the capital for our company’s further development and market rollout.” The company was founded in May 2013, with a primary focus on business-to-business applications at present. “With our technology, we are targeting a global billion-dollar market,” Reinshagen continues, highlighting that indoor spaces such as factories, offices, museums, shopping malls, or airports have “hardly been digitally captured so far.” As a result, demand for NavVis’s new indoor digitization technology is skyrocketing day by day. To meet the numerous inquiries, the mapping trolley is now initially entering small-series production.
In February 2013, NavVis won the TUM IdeAward before being honored as best startup of the year with 1st place at “Best of Munich” in the summer of 2014. The foundation for the business idea was laid at TUM’s Chair for Media Technology. Key supporters include UnternehmerTUM, alongside the Center for Innovation and Business Creation, BayStartUP (formerly evobis), and the CDTM. Managing Director Reinshagen emphasizes regarding the support from UnternehmerTUM within the KICKSTART program: “The mentor matchmaking and the HR workshop were particularly helpful (…).”
You can find more information on the NavVis website.
