Düsseldorf-based startup RIIICO, which delivers AI-powered 3D spatial intelligence to enhance digital twin systems, has raised $5 million in seed funding to help make production facilities more resilient.
- Established in 2021 by Felix Fink, Jan Büchsenschütz, and Patrick Mertens, RIIICO builds AI-driven software that helps industrial companies turn their existing factories into accurate 3D digital models.
- Using deep learning, the platform processes spatial data from LiDAR scans to automatically detect and classify factory elements like machines, equipment, and building structures. These components are then converted into CAD-compatible, simulation-ready formats.
- This allows engineering and operations teams to collaboratively plan and redesign production lines, making it easier to adapt older factories (brownfields) to new products or processes, faster and with less disruption to ongoing operations.
Details of the deal
- The investment was led by Pi Labs, a London-based early-stage venture capital firm that has made over 90 investments across 15 countries and backs startups advancing digital and sustainable transformation in the built environment.
“RIIICO has the potential to use AI to transform how factories redesign manufacturing facilities in response to business demands and shifting market conditions. RIIICO is uniquely positioned to become a critical enabler for industrial facilities under increasing cost pressure, helping them operate more efficiently and competitively," founder and managing partner at Pi Labs, Faisal Butt, commented.
- The seed round also saw support from seed + speed Ventures, WaVe-X, Earlybird Venture Capital, and Volvo Cars Tech Fund.
- RIIICO will use the $5 million funding to enhance its AI platform and develop new digital twin applications to help factories adapt faster and operate more efficiently.
"With our lead users in the automotive sector, we’ve already proven the value of our solution under extreme cost pressures and high-quality demands. With our new investors, spearheaded by Lead Investor Pi Labs, we aim to enhance the connection between real factory environments and digital models, boosting flexibility to strengthen industry resilience and competitiveness," claims Felix Fink, CEO of RIIICO.
