On Tuesday, Gravity Sketch completed a Series A funding round to secure roughly $33 million USD to expand the functionality of the platform and provide updates based on community feedback, bringing the London-based firm’s total valuation to $40 million.
GV, formerly Google Ventures, led the Series A funding round with assistance from previous backers Kindred Capital, Point Nine, and Forward Partners. Also, high profile individuals and entrepreneurs such as Will Smith, Kevin Durant, Rich Kleiman, and Soleio have all invested in the company.
Announcing our $33M Series A, Led by Accel and followed by GV, Point Nine, Kindred Capital VC, Forward Partners.
Read more in the link below!https://t.co/ZsuC8yw6ss pic.twitter.com/zswaCOHenM
— Gravity Sketch (@GravitySketch) April 19, 2022
Additionally, the funding enables Gravity Sketch to enhance LandingPad, a collaborative feature that provides 3D digital designers with a space to receive feedback during development cycles.
The news comes after Gravity Sketch secured 100,000 global users, including major multinational brands such as Adidas, Reebok, Volkswagen, and Ford.
Harry Nelis, a Partner at Gravity Sketch client, Accel, said,
“In today’s climate, online collaboration tools have emerged as a necessity for businesses that want to stay agile and connect their teams in the most interactive, authentic and productive way possible. Moreover, we expect that 3D design — coupled with the advent of virtual reality — will only grow in importance as brands race to build the emerging metaverse”
The funding also allows Gravity Sketch to educate brands and developers transitioning from 2D design to 3D design. Daniela Paredes Fuentes, Gravity Sketchs CXO, explained in a statement that “people need to learn to sketch, which leads to a lot of miscommunication.”
3D Design Tools for the Future of Work
The news comes as extended reality (XR) 3D design tools increase in popularity across multiple industries. Applications like Spatiate debuted on Magic Leap mixed reality (MR) headsets in 2019, allowing users to create and collaborate in immersive environments.
Canadian technology company Cemtrex operates MasterpieceVR for businesses to bridge the gap in 3D design and content creation.
Arvizio also offers firms powerful 3D collaboration tools for manufacturing and construction that enable frontline workers to collaborate on the digital twins of real-world worksites, remotely or locally.
Arivizio’s 3D design solution enables the optimisation and distribution of complex enterprise-grade 3D models that are facilitating the future of Industry 4.0.
