Global IT consultancy Accenture has invested in Cintoo, a provider of cloud-based 3D data management solutions. Financial terms of the deal were not disclosed.
The deal involves Accenture Ventures, the venture capital arm of the consultancy, which has investments in more than 30 startups and 50 partners.
Cintoo, launched in 2013, to develop a solution capable of managing terabytes of Reality Capture data in the cloud for architecture, engineering, construction and industry 4.0 companies. The Cintoo Cloud, a SaaS platform launched in 2019, could help customers with metaverse-related projects, especially in terms of creating digital twins. Indeed, the Cintoo Cloud can transform laser scan files into mesh-based, cloud-enabled reality capture data that can be shared with project stakeholders around the world, Accenture noted.
Cintoo is now part of Accenture Ventures’ Project Spotlight – a deeply immersive engagement and investment program that targets emerging technology software startups. Project Spotlight “helps startups harness human creativity and deliver on the promise of their technology,” Accenture said.
Accenture Invests in Cintoo: Executive Insights
In a prepared statement on the investment, Accenture Ventures Managing Director Tom Lounibos said:
“Our investment in Cintoo demonstrates Accenture Ventures’ continued commitment to driving the development of advanced technologies that can drive better business outcomes for our clients. Our research shows that as the physical world is represented in a digital space, business leaders will need to be able to bring data and intelligence together and experiment in a risk-free environment. Facilitating this will ultimately transform the way businesses operate, collaborate and innovate. We believe 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.
Added Dominique Pouliquen, CEO of Cintoo:
“The global market for digital twin capabilities is expected to reach $48 billion by 2026. As this market grows, the complexity and connectivity challenges of capturing and translating real data will also increase, which which will drive the need for solutions that can make data more accessible and efficient. . Accenture Ventures’ investment will help accelerate our mission to meet the growing global need for cloud-based solutions that deliver on-demand reality data.
Andy Webster, Managing Director and Global Head of Capital Projects at Accenture Industry X, concludes:
“Increasingly, organizations are creating digital twins of factories, products, supply chains and more to redefine the things they make and how they make them. However, to reap the full benefits of these living models, businesses need to be able to rely on 3D data capture. Cintoo not only provides cloud-based direct access to store and manage this data, but also allows businesses to analyze and interact with it to optimal business results.
Accenture Acquisitions: list of mergers and acquisitions
Meanwhile, Accenture continues to acquire IT consultancies, MSPs and MSSPs specializing in cloud, big data analytics, SaaS applications and cybersecurity. View the detailed list of Accenture acquisitions here.