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Dec 12, 2017 | By Tess

CGTrader, a 3D model marketplace based out of Lithuania, has announced it has successfully raised €2 million ($2.36M) in investments. The new funding will be put towards expanding the company’s business and scaling up its 3D model offering.

Since its founding in 2011, Vilnius-based CGTrader has become a source of 3D models for professionals in the fields of design, computer graphics, gaming, advertising, AR/VR, and more. The platform is essentially a repository of 3D models which have been made available to speed up development processes in the aforementioned industries.

More specifically, the platform is aimed at providing ready-made and easily downloadable 3D models so that 3D designers do not have to use up precious time designing every single element of a given project. The company says that its clients have the opportunity to save both time and costs for 3D content creation thanks to its 3D model marketplace.

“While humans experience the world in three dimensions, most of technology apps today still require interaction with a flat screen in 2D. This is about to change,” said Dalia Lašaitė, CEO and co-founder of CGTrader. “Enabled by technologies such as spatial computing, augmented reality (ARKit, ARCore, AR Studio), virtual reality and WebGL, 3D is becoming the next wave of content towards interactivity and immersion—moving from text to images to video to 3D.”

Sample of CGTrader's architectural 3D model selection

“By far, the biggest bottleneck in this market is the high cost of 3D content creation. CGTrader is playing a significant role in reducing the cost as well as empowering developers to create 3D applications much faster and more efficiently,” she added.

The company’s recent investment round, through which it raised €2 million, was led by Karma Ventures, an Estonian VC firm, and included existing investors Intel Capital and Practica Capital.

With the new funding, CGTrader says it will be able to accelerate and scale up its 3D model marketplace, as well as establish more efficient and user-friendly workflows for 3D designers. Additionally, the investments will reportedly enable CGTrader to expand its reach into the United States, which is the largest market for 3D model content.

CGTrader co-founders Marius Kalytis and Dalia Lašaitė

“We believe that the importance of 3D content is going to grow significantly in the coming years and there is a great opportunity for CGTrader to become the largest provider of 3D models in the world,” said Kristjan Laanemaa, partner at Karma Ventures. “We have been following the company for a number of years and think that the team has done excellent job in establishing the company as one of the major sources of 3D models.”

At the moment, CGTrader currently features 3D models created by a network of 3D designers from all over the globe. We’re eager to see how the company continues to grow its platform with its new investment.

 

 

Posted in 3D Design

 

 

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