Bengaluru-based 3D reconstruction platform Preimage has raised $1.7 million in a seed funding round led by pi Ventures, with participation from Better Capital, Java Capital, and other prominent angel investors.
The startup intends to use the raised capital to double down on building the product, scale its team across business functions, and build a robust go-to-market motion in the drone-based mapping and surveying use case.
Founded in 2020 by IIT alumni Ugam Kamat and Siddharth Jha, Preimage said it provides a seamless process for the generation of 3D digital clones by providing a fast and automated processing workflow that can scale to tens of thousands of images.
3D digital clones are useful for geometric measurements, visual inspections, 3D graphics, architectural modelling, archaeological preservation, and scientific simulations.
Earlier this year, The startup released a beta version of its product that engaged more than 200 business customers ranging from small businesses to large enterprises across the US, India, Asia Pacific, and Europe. Its open-to-all 3D reconstruction platform will be released later this year.
“The market for the creation of 3D digital clones of real-world environments is gaining momentum across several businesses in different verticals. We are one of the first companies in the world to rethink this market and empower users with the advances of AI to handle the scale of visual data for the current decade,” said Ugam Kamat, Co-Founder & CEO of Preimage.
Previously, it raised $355,000 as part of its pre-seed round from Better Capital, with participation from Arka Ventures and iSeed Ventures.
Speaking on the investment, Roopan Aulakh, Managing Director, pi Ventures, said, “The demand for 3D content is increasing. However, the traditional tools for 3D reconstruction plagued with long processing time, inadequate accuracy and a lack of generalizability are unable to fulfill the market demand.”
“Preimage solves this problem using deep learning AI models & distributed computing to build a horizontal platform that can cater to multiple industries while being fast and accurate. We are excited to partner with Ugam and Siddharth on their journey to disrupt this space,” Roopan added.
Source @Indianstartupnews
