Accenture Makes Strategic Investment in Cloud-Based Reality Data Solutions Provider Cintoo

Rhea-AI Summary

Accenture (NYSE: ACN) has invested in Cintoo, a startup specializing in cloud-based solutions for managing 3D data from reality capture devices. This investment is part of Accenture Ventures' Project Spotlight program, aimed at accelerating the go-to-market strategy of emerging tech startups. Cintoo's platform converts large laser scan files into accessible, mesh-based data usable across global teams. The digital twin market is projected to hit $48 billion by 2026, signaling a growing demand for efficient data solutions, which Cintoo is equipped to meet.

Positive

• Accenture's investment in Cintoo could enhance its portfolio in digital twin capabilities.
• Cintoo's platform addresses the growing demand for accessible 3D data solutions in multiple industries.
• The projected digital twin market growth to $48 billion by 2026 presents significant opportunities.

Negative

• None.

Startup joins Accenture Ventures’ Project Spotlight program to accelerate go-to-market strategy

NEW YORK & SOPHIA ANTIPOLIS, France--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Cintoo, a provider of solutions used to better manage and leverage 3D data sourced from reality capture devices in the cloud.

Accenture Makes Strategic Investment in Cloud-based Reality Data Solutions Provider Cintoo (Photo: Business Wire)

As reality capture capabilities, such as laser scanning devices that generate 3D digital images of physical objects, advance, so too are opportunities to deploy digital twins across industries. However, the development of digital twins is challenged by the fact that laser scanning files are extremely large and complex. Additionally, collaboration is often limited as stakeholders in different locations lack universal, simultaneous access to the scans. Cintoo’s multimodal 3D platform, Cintoo Cloud, transforms laser scan files into mesh-based, cloud-compatible reality capture data that can be easily shared with project stakeholders across the globe.

“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,” said Tom Lounibos, managing director, Accenture Ventures. “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.”

Cintoo is now part of Accenture Ventures’ Project Spotlight, a deeply immersive engagement and investment program that targets emerging technology software startups to help the Global 2000 embrace the power of change and fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s deep domain expertise and its enterprise clients, to help startups harness human creativity and deliver on the promise of their technology.

“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,” said Dominique Pouliquen, CEO of Cintoo. “Accenture Ventures’ investment will help accelerate our mission to address the growing global need for cloud-based solutions that provide reality data on-demand.”

“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,” said Andy Webster, managing director and global lead for Capital Projects at Accenture Industry X. “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.”

Terms of the investment were not disclosed.

About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 674,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.

About Cintoo
Cintoo is a French and US startup, established in 2013 to find a solution for managing terabytes of Reality Capture data in the cloud for Architecture, Engineering, Construction, and Industry 4.0 businesses. The company launched its SaaS platform, Cintoo Cloud, in 2019, which uses its patent-pending, core point cloud-to-mesh engine to stream huge 3D data using any PC, laptop or tablet with a web browser. Email contact@cintoo.com or visit www.cintoo.com

Copyright © 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220127005281/en/

Christina McDonald

Accenture

+1 415 537 7997

christina.mcdonald@accenture.com

Source: Accenture

FAQ

What is Accenture's recent investment related to?

Accenture has invested in Cintoo, a provider of cloud-based 3D data solutions.

How does Cintoo's technology improve data management?

Cintoo's platform converts complex laser scan files into easily shareable mesh-based data.

What is the significance of the digital twin market for Accenture?

The digital twin market is projected to reach $48 billion by 2026, highlighting growth opportunities.

What program supports Cintoo's market strategy?

Cintoo is part of Accenture Ventures' Project Spotlight program, designed to accelerate startups.

Why is Accenture interested in Cintoo's technology?

Cintoo's cloud-based solutions address challenges in managing large reality data capture, which is increasingly needed.