Accenture Makes Strategic Investment in Cloud-Based Reality Data Solutions Provider Cintoo
Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Cintoo, a provider of solutions used to better manage and leverage 3D data sourced from reality capture devices in the cloud.
Photo Insert: An Accenture office
As reality capture capabilities, such as laser scanning devices that generate 3D digital images of physical objects, advance, so too are opportunities to deploy digital twins across industries. However, the development of digital twins is challenged by the fact that laser scanning files are extremely large and complex. Additionally, collaboration is often limited as stakeholders in different locations lack universal, simultaneous access to the scans.
Cintoo’s multimodal 3D platform, Cintoo Cloud, transforms laser scan files into mesh-based, cloud-compatible reality capture data that can be easily shared with project stakeholders across the globe.
“Our investment in Cintoo demonstrates Accenture Ventures’ ongoing commitment to nurturing the development of advanced technologies that can drive better business results for our clients,” said Tom Lounibos, managing director, Accenture Ventures.
“Our research shows that as more of the physical world is represented in a digital space, enterprise leaders will need to be able to bring data and intelligence together and experiment in a risk-free environment. Facilitating this will ultimately transform how companies operate, collaborate, and innovate. We believe that Cintoo’s cloud-based offerings are uniquely positioned to help organizations translate physical data and create digital environments that increase real-time agility and efficiency at scale.”
Cintoo is now part of Accenture Ventures’ Project Spotlight, a deeply immersive engagement and investment program that targets emerging technology software startups to help the Global 2000 embrace the power of change and fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s deep domain expertise and its enterprise clients, to help startups harness human creativity and deliver on the promise of their technology.
“The global market for digital twin capabilities is projected to reach $48bn by 2026. As that market grows, complexity and connectivity challenges around reality data capture and translation will also increase, driving the need for solutions that can make the data more accessible and efficient,” said Dominique Pouliquen, CEO of Cintoo.
“Accenture Ventures’ investment will help accelerate our mission to address the growing global need for cloud-based solutions that provide reality data on-demand.”
“Increasingly, organizations are creating digital twins of plants, products, supply chains, and more to redefine the things they make and how they make them. However, to fully realize the benefits of these living models, companies must be able to draw upon 3D data capture,” said Andy Webster, managing director and global lead for Capital Projects at Accenture Industry X.
“Cintoo not only provides direct, cloud-based access to store and manage this data but also allows companies to analyze and interact with it for optimal business results.” This report was initially released by Business Wire.