3D Digital Technology Startup Jimuyida Lands CNY 100 Million in Series A
With the new financing round, we will observe the next-generation holographic 3D digital products and the innovative digital twin.
Jimuyida (积木易搭) announced its completion of Series A worth CNY 100 million (equivalent to USD 14.3 million) on December 27, led by Toposcend Capital (投控东海投资) and Lianjinshu (炼金术). This round of financing has also seen the participation of Reading Capital (睿鼎资本).
The recent funding deal will allow Jimuyida to easily apply 3D digital technology for the development of next-generation holographic 3D digital products, together with the implementation and application expansion of its futuristic digital twin.
Founded in 2015, Jimuyida is headquartered in Shenzhen providing 3D digital technology. The company is the pioneer of ‘3D + AI’ scheme holography with products and services extending from 3D scanner, 3D engineering modeling services, home improvement based on 3D cloud design tools and 3D scene customization services while utilizing holographic, AR/VR technologies.
Jimuyida currently boasts the world’s largest 3D digital platform, with 34 patents and 23 software copyrights. It is serving a wide array of industries in the 3D digital technology value chain, from furniture, ceramic crafts to e-commerce. It has also made a strategic cooperation with China’s e-commerce giant Alibaba in the field of 3D digitalization, with the establishment of virtual displays for Internet entities. Aside from Alibaba, Jimuyida has successfully struck deals with industry leaders such as JD.com, Huawei and Apple.
3D scanning is embracing unprecedented new opportunities that the industrial revolution 4.0 has presented. In the midst of the revolution, new trends such as digital inspection and traceability are emerging in numerous manufacturing sectors including automotive aerospace. With 3D scanning which guarantees precision, it will eliminate pain points in manufacturing industries such as low accuracy, low detection efficiency and operational difficulty. These tasks which require complex measurements would be greatly simplified, hence significantly reducing costs associated with product development and production.
Compare to 3D printing, China’s 3D scanning industry is tepid. JD Scan (精迪科技), which develops 3D optical measurement equipment, is among the well trusted domestic players. Globally, Hexagon, Trimble Navigation and Faro Technology are among the 3D scanner market leaders, capturing a total of 37.3%.
3D digital technology industry in China is still at its infancy stage. China’s digital market in 2017 reached CNY 3.4 billion and is expected to double its size to CNY 6.3 billion by 2023, with a Compounded Annual Growth Rate of 10.8%.
With China at the forefront of 5G technologies, the implications of 3D technologies on achieving broader scale of application and elevating users' experience can be tremendous. It is expected that China’s manufacturing industry will drive the growth of 3D digital technology.