The European Investment Bank (EIB) and NavVis announced today the signing of a contract which provides financing of €20 million to NavVis, a global market leader in digital twin technology. NavVis has experienced unprecedented growth and demand for its indoor spatial intelligence solutions, and will further invest in expanding operations to meet the need for technological innovation in the enterprise manufacturing industry.
The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.
EIB Vice-President Ambroise Fayolle, who is responsible for innovation and operations in Germany, said: “NavVis is the world’s largest indoor data platform, this is a truly remarkable achievement. Their approach combines ground-breaking academic research with cutting-edge technologies. For the EIB, as well as the “Investment Plan for Europe”, it is a top priority to support investment that is geared towards greater competitiveness. Therefore I very much welcome our cooperation with NavVis.”
NavVis CEO, Felix Reinshagen commented: “We’re proud to receive this financing from the EIB, which represents an important milestone in our long-term vision of digitizing all buildings. The EIB clearly recognizes the untapped potential not just in Europe but around the world, and supports our belief that in the future there’ll be a digital twin of every building. The funds will be used for the continuous build-out of our technology and global market presence, and in the months ahead we’ll double down on our expansion into the digital factory space. Now more than ever, enterprises need our support in managing their digital transformation.”
The fresh capital will allow NavVis to accelerate the delivery of digital twins to enterprises and support the digital transformation in the manufacturing industry. In the past, NavVis already closed big funding rounds with VC firms like Target Partners and Digital+ Partners.
Founded in 2013, NavVis today is a leading global provider of indoor spatial intelligence technology and solutions for enterprises, trusted by top companies including BMW, Daimler, Allianz, Audi, and Skoda. NavVis helps enterprises drive efficiencies and optimize business performance through its powerful digital twin platform for the indoors that enables accurate mapping at unprecedented speed and scale, immersive 3D visualization designed for collaboration and location-based apps that pioneer AI-powered positioning technology. Headquartered in Munich, NavVis also has offices in New York and Shanghai.