This article is published in association with European Investment Bank.
- Luxembourg-based 3D scanning developer lands EIB venture debt financing to advance its RDI in next-generation scanning technologies
- EIB funding supports Artec 3D’s investments taking place in its research facilities in both Luxembourg and Portugal.
- The financing marks the EIB’s first venture debt operation in Luxembourg backed under the European Commission’s InvestEU initiative.
The European Investment Bank and Luxembourg-based 3D scanning developer Artec 3D enter into a long-term partnership with €15 million committed to R&D support over the first three years. The EIB’s venture debt will enable Artec 3D to advance its next-generation 3D scanning technologies and algorithms for processing 3D data, thus supporting critical European technology and innovation. The investments that Artec 3D will pursue into new product and software development activities will also feature the use of AI. The R&D will take place primarily in Luxembourg and partially in Portugal. The EIB financing is supported by the European Commission’s InvestEU programme.
The EIB’s financing agreement was ceremonially signed at the Luxembourg Nexus technology exhibition in the presence of H.E. Luxembourg Deputy Prime Minister Xavier Bettel, as well as Anne Calteux, Head of the European Commission’s representation to Luxembourg.
“Companies like Artec 3D showcase Luxembourg as a powerhouse of European innovation.”said EIB Vice-President Robert de Groot. “Innovative companies like Artec 3D can get the financing they need to scale-up right here in Europe. The EIB offers funding for critical technology to remain within the EU. That is why initiatives like InvestEU, and our new TechEU programme, are so important. We are happy to put our venture debt behind Artec 3D, to ensure that this advanced technology can grow in Europe.”
Artec 3D’s innovations are already driving digital transformation across various infrastructures, including energy, transportation, aerospace, healthcare, cultural heritage, education, and defence worldwide. Its in-house developed technologies include advanced 3D scanning equipment as well as the software needed to create digital twins of real-life objects. A key differentiating factor is that Artec 3D scanners are portable, versatile, and integrate seamlessly with its proprietary data processing software. This combination allows users to turn objects of all shapes, sizes, and complexity into high-resolution 3D models, while significantly reducing the time and effort required.
“Cooperation withthe European Investment Bank is, first and foremost, a recognition of Artec 3D’s role as a leader in interdisciplinary R&D, both in AI and computer vision on the high-tech map of Europe,” said Artec 3D CEO and Co-founder Art Yukhin. “For 18 years, our expert team has been developing breakthrough 3D technologies that set new standards in 3D scanning and digital twin capture. With the EIB’s support, we are scaling our R&D and accelerating the development of next-generation, industry-ready solutions that strengthen Europe’s technological leadership in the global arena.”
“The European Investment Bank’s support for Artec 3D’s innovative work through the InvestEU programme is great news for Luxembourg and Europe. Promoting European excellence in 3D-scanning technologies and strengthening the EU’s technological leadership is very important at a time when the EU is striving to close the innovation gap. This support will directly empower the company to drive innovation and job creation in Luxembourg and across the Union. We look forward to the positive impact of their research and development activities.” added Anne Calteux, Head of the EC representation in Luxembourg.
On a technical level, the financing will support the development of Artec 3D’s short-range, high-precision 3D scanners and advanced 3D software, enabling fast and accurate data capture for a variety of applications. The Company was the first to introduce “target free” scanning with handheld scanners, making data capture much faster and simpler than with traditional scanners that rely on fixed equipment and reference markers. Artec 3D scanning is designed to meet the varying needs of end users in many applications ranging from jewellery customization to industrial manufacturing. It can also help to preserve cultural heritage, allowing for in-depth study without risking damage to fragile artifacts.
Background information
The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. The Group’s AAA rating allows it to borrow at favourable conditions on the global markets, benefiting its clients within the European Union and beyond. The Group has the highest ESG standards and a tier one capital ratio of 32%.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient, and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEUFund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.
Luxembourg-based Artec 3D designs and manufactures high-precision 3D scanners and smart 3D software for fast and accurate data capture. This allows customers to quickly, easily create a 3D model of any real-life object, then reverse engineer, inspect, or reproduce that item on-demand. Artec 3D’s products and services can be used in many industries, such as in Engineering, Medicine, Design, Metrology, CGI, Heritage preservation, security technology, and more.
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