RIIICO, a German deeptech startup, has raised $5 million in seed funding. RIIICO develops an AI-based software platform that enables industrial companies to digitally model, redesign, and quickly adapt their established factories (brownfields) to new products or processes. The aim is to make production sites more efficient, agile, and resilient. The round is led by PropTech fund Pi Labs. Additional investors are seed + speed Ventures, WaVe-X, Earlybird Venture Capital, and Volvo Cars Tech Fund.
RIIICO’s solution makes retrofitting factories much more efficient: a collaborative decision-making tool for all parties, from plant managers to suppliers. This makes redesigning processes four times faster and significantly speeds up the launch of new products. What makes the difference is RIIICO’s AI. It automatically detects machines, equipment, and building infrastructures in LiDAR scans and generates a precise 3D digital twin of the factory.
Felix Fink, CEO RIIICO: “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.”
Faisal Butt, founder and managing partner at Pi Labs: “RIIICO has the potential to use AI to transform how factories redesign manufacturing facilities in response to business demands and shifting market conditions. The platform converts LiDAR scans of complex production environments into collaborative, predictive 3D models using proprietary deep learning algorithms. RIIICO is uniquely positioned to become a critical enabler for industrial facilities under increasing cost pressure, helping them operate more efficiently and competitively.”
Join our community of 200,000+ real estate leaders and get weekly insights and updates with our newsletter.
*Offer ends on Friday, 7th February.
