Tech Funding Recap for May 3, 2021

Technology has played a major role in making our lives more convenient. Yet demand continues to grow when it comes to a need for products that do more, better, and faster.

Companies are answering the call by raising funds that will help them satisfy these demands. Wingcopter are Marxent are two organizations that have recently completed funding rounds that will help them grow their business. Here’s a recap of their accomplishments.

Marxent

The pandemic has taken everything to a virtual platform and, with the conveniences offered, the online medium shows no signs of slowing down any time soon. Marxent is riding the wave with a 3D home design platform that will make it easier for designers to sell products and services to customers.

Marxent’s 3D Cloud platform replicates everything from furnishings to fully designed rooms. It uses a complex technology to provide an authentic look that gives consumers a good idea of what to expect from the end product. It presents a more convenient way for customers to preview and buy products.

Marxent recently completed a $15 million funding round which will put them in a position to further develop their platform. This is significant in that it sets a path for solutions that will transform 2D photos and real world objects into digital twins that can be viewed on anything from a computer to a mobile device to mixed reality headsets. The technology is being picked up by big box retailers like Macy’s who use Marxent’s 3D Room Planner to sell furniture in-store using VR goggles.

The company will be using the funds it recently raised to expand the home categories they work in and form strategic partnerships with online platforms. They will also be opening offices in new locations to grow across Europe and other markets.

Wingcopter

With the coronavirus keeping many people at home, the need for door to door delivery services has been on the rise. Drones have been integrated to take on some of the burden. Germany based drone manufacturer, Wingcopter, is upping their drone technology to meet demands primarily focusing on the healthcare space.

The company specializes in the delivery of medical goods, packages and food but the coming of the vaccine has caused them to make medical supplies a priority for the time being. Their drones are efficient in delivering vaccines to different locations ensuring they get out to people quickly.

The drones the company manufactures have advanced capabilities and are able to operate in wind gusts of over 45 miles an hour, fly at speeds of 150 miles per hour and carry loads of up to 13 lbs. Their electric powered drones feature a tilt rotor mechanism that allows them to take off and land vertically like multicopters. The company recently partnered with Merck and the Frankfurt University of Applied Sciences to launch what they claim was the world’s first drone beyond visual line of sight flight between production facilities flying lab samples 15.5 miles.

Marxent recently announced the closing of a $22 million funding round. The proceeds will be used to expand its healthcare related activities, prepare for the upcoming launch of its next-gen drones, set up a partially automated production facility and grow its U.S. team.