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European Union

European Investment Bank Supports Luxembourg-Based 3D Scanning Developer Artec 3D with Euro 15 Million Funding

Strategic Insights

— 2 min read

The European Investment Bank has entered into a long-term partnership with Luxembourg-based 3D scanning developer Artec 3D, committing to provide €15 million in research and development (R&D) support over the first three years. This financing is the EIB's first venture debt operation in Luxembourg, backed by the European Commission's InvestEU initiative. The partnership will enable Artec 3D to advance its next-generation 3D scanning technologies and algorithms for processing 3D data, supporting critical European technology and innovation.

Key Takeaways:

  • The European Investment Bank has committed to provide €15 million in R&D support to Luxembourg-based 3D scanning developer Artec 3D over the first three years.
  • The financing is the EIB's first venture debt operation in Luxembourg, backed by the European Commission's InvestEU initiative.
  • The partnership will enable Artec 3D to advance its next-generation 3D scanning technologies and algorithms for processing 3D data, supporting critical European technology and innovation.
  • Artec 3D will use the funding to invest in new product and software development activities, featuring the use of AI, focusing primarily on R&D in Luxembourg and partially in Portugal.
  • The EIB's financing agreement was ceremonially signed at the Luxembourg Nexus technology exhibition, attended by H.E. Luxembourg Deputy Prime Minister Xavier Bettel, as well as Anne Calteux, Head of the European Commission's representation to Luxembourg.
  • Artec 3D's innovations are already driving digital transformation across various infrastructures, including energy, transportation, aerospace, healthcare, cultural heritage, education, and defence worldwide.
  • The company's in-house developed technologies include advanced 3D scanning equipment and software to create digital twins of real-life objects, with key differentiators including portability, versatility, and seamless integration with proprietary data processing software.
  • The cooperation with the European Investment Bank is a recognition of Artec 3D's role as a leader in interdisciplinary R&D, both in AI and computer vision, on the high-tech map of Europe.

Statistics:

  • The European Investment Bank has committed to provide €15 million in R&D support to Artec 3D over the first three years.
  • The EIB's financing will support the development of Artec 3D's short-range, high-precision 3D scanners and advanced 3D software, enabling fast and accurate data capture for various applications.
  • Artec 3D's products and services can be used in many industries, including engineering, medicine, design, metrology, CGI, heritage preservation, security technology, and more.
  • The company's technologies have already driven digital transformation across various infrastructures, including energy, transportation, aerospace, healthcare, cultural heritage, education, and defence worldwide.

Sources:

  • European Investment Bank (Luxembourg-based 3D scanning developer lands EIB venture debt financing to advance its RDI in next-generation scanning technologies)
  • Artec 3D (Cooperation with the European Investment Bank is, first and foremost, a recognition of Artec 3D's role as a leader in interdisciplinary R&D, both in AI and computer vision on the high-tech map of Europe)

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