Physna Raises $56M In Funding

Physna, a Columbus, OH-based geometric search company, raised $56m in funding.

The round was led by Tiger Global with participation from GV and Sequoia Capital.

The company, which has raised more than $86m in total funding, intends to use the funds to scale and develop its geometric deep-learning platform, as well as its free public geometric search engine, Thangs.

Physna’s growth is driven largely by Thangs, which hosts millions of 3D models and is compatible with the vast majority of formats and file types. Users can search, store, share and collaborate on models, as well as use them cross-discipline, such as viewing 3D printing models or mechanical designs in AR. The site currently has 250,000 registered users and indexes more than 2.5 million 3D models, 1 million of which were added in the last six weeks.

In addition to the funding, Physna announced Instant AR, a major update to Thangs. With Instant AR, Thangs users can instantly convert 3D models on into AR formats, allowing them to “place” any 3D model into a real world environment using a smartphone camera. Instant AR can be used with both Android and iOS native browsers, and does not require special hardware or apps. Instant AR is available to Thangs users today.

Led by CEO Paul Powers, Physna has developed technology that searches, compares, and analyzes 3D models, creating engineering, industrial design and procurement processes for enterprises. Using its enterprise platform, an engineer can find a model by searching for an object, including components contained in assemblies, alternative components, and alternative uses of those components. For example, a procurement manager can use a picture – or take a scan – of any part a company uses and see where it’s being used throughout the organization, in what quantities, and if the company is buying redundant parts.