Germany: EIB provides funding of €20 million to NavVis as part of the Investment Plan for Europe
8 July 2020
Funds to cement NavVis’ position as global leader in digital twin technology
Financing by EU bank is provided under Investment Plan for Europe
The European Investment Bank (EIB) and NavVis GmbH announced today the signing of a contract which provides financing of €20 million to NavVis GmbH, 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.
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. We, as the bank of the EU, have to help to make sure that young innovative companies have a continuous access to financing.”
European Commissioner for the Economy, Paolo Gentiloni, said: “The Investment Plan for Europe has a very strong track record in identifying and supporting innovative technology companies. The EIB’s €20 million in financing will enable NavVis to continue pushing the boundaries of what is possible with its “digital twin technology” to the benefit of companies in Europe and across the world”.
NavVis CEO, Felix Reinshagen said: “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.”
NavVis CFO, Jeno Schadrack said: “We’re honored to have won EIB as a partner who shares our market view and technology vision and trusts in NavVis to play a leading role in the global market for indoor spatial intelligence. The funds will allow NavVis to accelerate the delivery of digital twins to enterprises and support the digital transformation in the manufacturing industry. It also demonstrates that Europe plays an important role in game-changing innovations.”
NavVis 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. Founded in 2013, NavVis is headquartered in Munich and has offices in New York and Shanghai. For more information, visit www.navvis.com.
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