Physna Raises $56M In Funding

Physna Raises $56M In Funding

Physna, a Columbus, Ohio-based geo-spatial search firm, has received $56 million in funding.

It led Tiger Global with participation from GV and Sequoia Capital.

The company has raised more than $86 million in total capital and plans to use the funds to expand and further develop its geometric deep-learning system and free geo-search machine, Thangs.

Physna Raises $56M In Funding

The growth of Physna is largely driven by Thangs which hosts thousands of 3D models and can be used with various formats and types. The users can browse, save, share, and collaborate on models. They can also make them cross-disciplinary, for example, by viewing 3D printed models or mechanical designs in AR. The site has more than 250,000 registered users and has an index of more than 2.5 million models in 3D. One million of these have been added within the last six weeks.

In addition to the investment, Physna announced Instant AR, a major upgrade to Thangs. In instant AR, Thang’s users can immediately convert 3D models from in AR formats, allowing users to “place” any 3D model in an actual world using the camera on their smartphone. Instant AR uses Android or iOS native browsers and doesn’t require special equipment or applications. Instant AR is accessible to Thangs users at present.

The company’s CEO is Paul Powers; Physna has developed technology that searches for, analyzes, and compares 3D models to create industrial design, engineering and procurement procedures for businesses. Utilizing its enterprise platform, engineers can locate an object by looking for an object, which includes components that are part of assemblies, other components and other uses for the components.

For instance, procurement managers can take a photo or scan any item used by a business and find out how it’s used across the company, in what amounts and whether the business is purchasing parts that are not needed.

Also Read: FloQast Raises $40 Million Series C With The Help of Norwest, With a Track Record of High ACV Expansion and Growth in ARR

Also Read: Cortilia Closes EUR34M Series C Financing

Chris Evan was born in Dubai and raised in Montreal. He studied Computer Science and was so pleased with computer languages. He began writing after obsessing over technology.

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