Focusing on the development of Site Scan, what the company now calls its flagship product, 3DR has raised $53 million in capital as part of a Series D funding round.
In venture capital terminology, the term Series D Round refers to the fourth stage in the Seed Stage Financing cycle of a new business’ growth. This Series D Round stage is generally for financing a special situation, such as a merger or acquisition.
According to the Berkeley, Calif.-based technology company, the round, which included new equity and conversion-of-debt equity, was led by Atlantic Bridge. Other investors included the Autodesk Forge Fund, True Ventures, Foundry Group and Mayfield.
Site Scan, a drone data platform for the construction industry, enables consumers to inspect, survey and scan worksites in order to deliver data for processing and analysis in the cloud. After the drone autonomously conducts the flight and collects imagery, Site Scan processes the data and brings it into the 3DR Cloud. The imagery can then be integrated with Autodesk software. Most recently, Autodesk platinum partner Advanced Solutions Inc. teamed up with 3DR to bring Site Scan to its clients.
“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,” says Brian Long, managing partner at Atlantic Bridge, in an update from 3DR. “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.”
3DR says the Autodesk Forge fund also made an investment in the company early last year. 3DR notes it will “continue to utilize Forge to accelerate product development and deepen workflow integrations with Autodesk products.”