CGTrader Raises $9.5M Series B Funding

CGTrader Secures $9.5 Million in Series B Funding

CGTrader, a leading 3D model provider, has successfully closed a $9.5 million Series B funding round. The investment was spearheaded by Evli Growth Partners, a Finnish venture capital firm.

Existing investors, including Karma Ventures and LVV Group, also participated in this funding round. Notably, former Rovio CEO Mikael Hed contributed financially and has assumed the role of board chairman.

Company Background and Growth

CGTrader was initially brought to our attention when it secured €200,000 in funding from Practica Capital. The company is headquartered in Vilnius.

Established in 2011 by Marius Kalytis, a 3D designer who currently serves as COO, CGTrader has rapidly evolved into a major player in the 3D content market.

The platform asserts its position as the world’s largest, boasting a marketplace of 1.1 million 3D models created by 3.5 million 3D designers.

These resources are utilized by a substantial client base of 370,000 businesses, including prominent names like Nike, Microsoft, Made.com, Crate & Barrel, and Staples.

Expanding Applications of 3D Models

Unlike traditional photographs, 3D models offer versatility, enabling the creation of both static imagery and immersive AR experiences. This allows consumers to visualize products within their own environments.

CGTrader is also strategically investing in the application of AI to automate key processes. These include 3D modeling, quality assurance, and asset management.

Statements from Leadership

Dalia Lasaite, CEO and co-founder of CGTrader, stated that 3D models are increasingly valuable for professional 3D industries.

She further explained that they provide a more efficient and economical solution for generating compelling product visuals for e-commerce.

According to Lasaite, the company’s ARsenal enterprise platform can reduce the cost of producing photorealistic 3D visuals by up to ten times compared to traditional photography.