Leading stock 3D model marketplace CGTrader has raised $2.3 million from Karma Ventures, Intel Capital and Practica Capital to help scale for the emerging wave of new 3D technology.
“Karma Ventures decided to invest in CGTrader as 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. Their track record convinced us that by having more resources they can scale the business and become the global leader in this space.”
Prior to this round of funding, CGTrader was self-sustainable and its userbase doubled to 1.1 million in just a year.
“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. 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. 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.” – says Dalia Lasaite, CEO and co-founder of CGTrader.
The proceeds will go towards building infrastructure, making 3D artist workflows more efficient and establishing a US presence.