Austrian 3VC joins €4M round for German deeptech DGG
20 July, 2023, 15:04
Darmstadt-headquartered startup DGG has announced a €4 million new funding to accelerate its 3D optimization software, RapidCompact. The round was led by IRIS, with participation from existing investors RenderedVC, FTTF, 3VC.
- Founded in 2018 by Max Limper, Miguel Sousa, Julian-Alexander Neagu, Sebastian Wagner, and Felix Limper, DGG is a spinoff of Fraunhofer Institute. The startup develops RapidCompact solution that helps to convert and optimize complex 3D models for real-time 3D applications such as Augmented Reality.
- More than 2,000,000 optimized 3D models have been created with the RapidCompact technology. Among DGG’s clients are Adidas, Crate & Barrel, and Otto Groupe. The DGG team also works on a new product that automatically converts “offline” CGI assets to real-time 3D formats, which will be presented at the SIGGRAPH conference in Los Angeles in August.
- The leading investor in this round is IRIS, a European venture and growth firm specialized in tech, investing in seed, Series A, late stage, and growth. IRIS has offices and teams in Paris, Berlin, and Munich.
- In this round also participated:
- US-based RenderedVC, an early-stage fund with domain expertise in media and graphics.
- German FTTF, a financing partner for deeptech startups using Fraunhofer technologies, and 3VC.
- Vienna-based venture capital group 3VC that invests in European technology startups with global ambition. In December 2022, 3VC led a €19 million round for Estonian-founded negotiation startup Pactum.
- The new funding will enable to accelerate the company’s 3D optimization software, RapidCompact, global expansion, partners program and R&D on real-time 3D, AR, and XR applications.