The European Investment Bank and Artec 3D have partnered with €15 million committed to R&D over three years.
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. 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.” - said EIB Vice-President Robert de Groot.
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 with the 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. 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.” - said Artec 3D CEO and Co-founder Art Yukhin.
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 preserve cultural heritage, allowing for in-depth study without risking damage to fragile artifacts.
