SilVRcraft Technology Secures Over 100M Yuan in Round-B Financing

SilVRcraft Technology, a provider of virtual reality (VR) digital twin cloud services, has recently raised over 100 million yuan ($15.7 million) in round-B financing. The lead investors were SIG China and existing shareholder Meridian Capital. The funds are reportedly to be used for market expansion and product R&D.

SilVRcraft was established in 2014. In January 2016, it completed angel round investment with Delian Capital as its lead investor. In May 2017, it closed a pre-A round of financing, with Innoangel Fund and Glodon Company Limited as lead investors. In December 2017, it completed A-round financing with Meridian Capital as the lead investor. In January 2019, it closed an A+ round of financing with Orbbec and Huaben Investment as the lead investors.

SilVRcraft is a VR digital twin cloud service provider using AI-based 3D machine vision and SaaS cloud services technology. It captures spatial 3D data from different scenarios with self-developed scanning devices, automatically processes them within a VR cloud services platform, then generates digital 3D spaces accessible for display, editing and sharing.

It takes several steps to obtain a realistic digital 3D model scenario, such as digital scanning, data integration and processing to generate the model, as well as “cloudization.” For equipment, SilVRcraft has launched a series of “SPACCOM” scanning cameras with varied performance for different scenes, classified into 3D Pro series scanners, laser scanners and AI panoramic cameras.

Furthermore, an AI algorithm is trained and derived from a large amount of photography data accumulated by the company based on the previous 3D series of devices, and it has been fully implemented in the last year.

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Beyond 3D capture devices and AI algorithms, SilVRcraft has another core business as a provider of VR cloud services. A VR cloud services platform is an integrated cloud service platform for storage, editing and management of 3D digital spaces.

For business purposes, SilVRcraft charges for the sale of devices and cloud services. It offers basic standardized services and customized value-added services to meet customer needs. SilVRcraft has also broken even financially in the past two years, with revenue from cloud services accounting for more than 80% overall. This year, it plans to start overseas business operations.