We’re excited to announce that 3DR has recently raised $53 million in capital as part of our Series D funding round. This round includes both new equity and conversion of debt equity. It was led by Atlantic Bridge, and with investments from the Autodesk Forge Fund, True Ventures, Foundry Group, Mayfield, and a number of other fantastic investors that we’re proud to partner with.
With this funding, we’ll continue to build our flagship product, Site Scan, the complete drone data platform for the construction and engineering industries. Construction is an $8 trillion global industry, but a typical commercial construction project runs 80% over budget and 20 months behind schedule. A big reason for this is the disconnect between as-designed and as-built: when design plans don’t align with the realities of construction, it hurts productivity on-site, slows down projects, and results in trillions of dollars of change orders and re-work.
Reality capture from the sky — made possible by advancements in drone technologies — is helping bridge that gap. It helps teams monitor and report on progress, identify issues, collect useful, actionable data that integrates seamlessly with Autodesk and GIS tools, helping bring the office and the field closer than ever before.
“We are excited to lead this round in 3DR and see tremendous opportunity for the deployment of Site Scan across a wide range of industry use cases,” said Brian Long, Managing Partner at Atlantic Bridge. “The end-to-end reality capture provided by Site Scan, combined with Autodesk software, provides the most comprehensive platform for the measurement and monitoring of progress on construction sites, resulting in potentially huge efficiency gains for the industry.”
The strategic investment from the Autodesk Forge Fund — which follows an initial investment made in early 2016 — demonstrates Autodesk’s commitment to 3DR and reality capture software. We have already harnessed the power of the Forge platform to build key features for Site Scan, and will continue to utilize Forge to accelerate product development and deepen workflow integrations with Autodesk products.