Founded in Lithuania’s capital in 2011 and headquartered in the heart of Vilnius Tech Park, CGTrader is one of the largest 3D model marketplaces globally. Recently, the company announced that it has raised €2 million to scale their business and serve the rapidly growing global demand for 3D models. Karma Ventures led the investment round, with CGTrader’s current investors Intel Capital and Practica Capital also taking part.
The CGTrader marketplace provides 3D models for professionals in computer graphics, gaming, video production, advertising, VR/AR and other industries. Customers can search through a library of 3D models and download any of them in minutes rather than having a highly-skilled 3D designer spend days or weeks building one from scratch. Therefore, sourcing 3D models from CGTrader speeds up the process and reduces the cost of 3D content creation – the main bottleneck for market growth in VR/AR and other 3D technologies.
“While humans experience the world in three dimensions, most of today’s apps still require interaction with a flat screen in 2D. This is about to change. Enabled by technologies such as spatial computing, augmented reality, virtual reality and WebGL, 3D is becoming the next big wave of interactivity and immersion content – moving from text to images to video to 3D. By far, the biggest bottleneck in this market is the high cost of 3D content creation. CGTrader is playing a significant role in reducing this cost as well as empowering developers to create 3D applications much faster and more efficiently,” says Dalia Lasaite, CEO and co-founder of CGTrader.
The company will use the recent investment to accelerate marketplace growth, build infrastructure that will make 3D designers’ workflow more efficient, and establish a presence in the United States, which is currently the largest market for 3D models. Prior to the investment round, the company was self-sustainable; however, the additional funding will enable CGTrader to grow faster. CGTrader currently unites over a million professional 3D designers from all over the world, a figure that has doubled over the past year.
“Karma Ventures decided to invest in CGTrader as we believe that the importance of 3D content is going to grow significantly in the coming years and there is a great opportunity for CGTrader to become the largest provider of 3D models in the world,” said Kristjan Laanemaa, partner at Karma Ventures. “We have been following the company for a number of years and think that the team has done an excellent job in establishing the company as one of the major sources of 3D models. Their track record convinced us that by having more resources they can scale the business and become the global leader in this space.”
“We are very happy that Karma Ventures is joining CGTrader as an investor,” says Donatas Keras, a partner at Practica Capital. “We have been with the company since its early days and the journey was very interesting. Now, with additional resources and the experience brought by Karma, we see even more possibilities for the company.”