Accenture Invests In Digital Twin Cloud Data Management Startup Cintoo
Global IT consulting company 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 consulting firm’s venture capital arm — which has investments in more than 30 startups and 50 partners.
Cintoo, launched in 2013, to develop a solution that can manage terabytes of Reality Capture data in the cloud for Architecture, Engineering, Construction, and Industry 4.0 businesses. 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-compatible reality capture data that can be shared with project stakeholders worldwide, 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 “help startups harness human creativity and deliver on the promise of their technology,” Accenture said.
Accenture Invests in Cintoo: Executive Perspectives
In a prepared statement about the investment, Accenture Ventures Managing Director Tom Lounibos said:
“Our investment in Cintoo demonstrates Accenture Ventures’ ongoing commitment to nurturing the development of advanced technologies that can drive better business results for our clients. Our research shows that as more of the physical world is represented in a digital space, enterprise leaders will need to be able to bring data and intelligence together and experiment in a risk-free environment. Facilitating this will ultimately transform how companies operate, collaborate and innovate. We believe that 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 projected to reach $48bn by 2026. As that market grows, complexity and connectivity challenges around reality data capture and translation will also increase, driving the need for solutions that can make the data more accessible and efficient. Accenture Ventures’ investment will help accelerate our mission to address the growing global need for cloud-based solutions that provide reality data on-demand.”
Concluded Andy Webster, managing director and global lead for Capital Projects at Accenture Industry X:
“Increasingly, organizations are creating digital twins of plants, products, supply chains and more to redefine the things they make and how they make them. However, to fully realize the benefits of these living models, companies must be able to draw upon 3D data capture. Cintoo not only provides direct, cloud-based access to store and manage this data, but also allows companies to analyze and interact with it for optimal business results.”
Accenture Acquisitions: M&A List
Meanwhile, Accenture continues to acquire IT consulting, MSP and MSSP companies that specialize in cloud, big data analytics, SaaS applications and cybersecurity. See a detailed list of Accenture acquisitions here.