EIC member VU.City has secured a £5m investment from fellow EIC member Ramboll. In an article for business newspaper City AM, the firms shared details of the £5m investment.
VU.City offers interactive 3D models to help architects, developers and planners in city design, with the firm The firm currently has the entire of London modelled to 15cm accuracy, and 90% of boroughs use the platform.
Ramboll joins existing shareholder Grosvenor Hill Ventures, the technology investment arm of real estate advisory firm Savills, and GIA Surveyors.
VU.City CEO Jamie Holmes said: “We’ve always believed VU.City has almost limitless potential in helping create better cities for the future and the investment from Ramboll marks the beginning of the next stage of our growth.”
“The ability for us to access Ramboll’s knowledge as designers, engineers, architects and consultants working in cities all over the world will be of huge benefit to our customers.”
Ramboll ‘s chief operating officer Mathew Riley will join the VU.City board. He said: “We see city-wide digital twin technologies as a crucial tool to support the development of sustainable and liveable cities. VU.City brings incredible transparency to inform crucial decision making. Strong collaboration and co-creation across our industry is critical to developing and scaling innovative solutions to complex challenges.
“We are excited to partner with the VU.City team to accelerate the development of this powerful platform and to bring our domain knowledge and digital expertise to support that journey.”
Find out more about the investment and the company’s future plans on the Vu.City website.