German deeptech industrial startup RIIICO has raised $5 million in Seed funding.
RIIICO develops an AI-based software platform that enables industrial companies to digitally model, redesign, and quickly adapt their established factories (brownfields) to new products or processes.
It aims to make production sites more efficient, agile, and resilient.
Check out an earlier interview with co-founders CEO Felix Fink, and Jan Büchsenschütz, COO.
Global competition is forcing Western industries to rethink: while new overseas competitors build modern greenfield plants from scratch, established Western manufacturers must upgrade their complex existing sites, often during ongoing operations. This task is costly, slow, and error-prone.
RIIICO’s solution makes retrofitting factories significantly more efficient, providing a collaborative decision-making tool for all parties, from plant managers to suppliers. This makes redesigning processes four times faster and significantly speeds up the launch of new products.
What makes the difference is RIIICO’s AI. It automatically detects machines, equipment, and building structures in LiDAR scans and generates a precise 3D digital twin of the factory. This allows teams to simulate, assess, and execute different scenarios quickly and securely, like building with LEGO bricks.
Last year, the solution was successfully used in the automotive industry to install electric vehicle production lines in factories previously used for combustion engines – a pinnacle challenge in factory design. Teams using RIIICO’s solution had access to realistic 3D data, reducing costly on-site revisions while setting a new benchmark for quality and efficiency.
Pi Labs led the round, which included seed + speed Ventures, WaVe-X, Earlybird Venture Capital, and Volvo Cars Tech Fund.
According to Felix Fink, CEO of RIIICO, the company’s automotive lead users already proves the value of its solution under extreme cost pressures and high-quality demands.
“With our new investors, spearheaded by Lead Investor Pi Labs, we aim to enhance the connection between real factory environments and digital models, boosting flexibility to strengthen industry resilience and competitiveness.”
Faisal Butt, founder and managing partner at Pi Labs shared:
“RIIICO has the potential to use AI to transform how factories redesign manufacturing facilities in response to business demands and shifting market conditions.
The company is uniquely positioned to become a critical enabler for industrial facilities under increasing cost pressure, helping them operate more efficiently and competitively.”
With the fresh capital, RIIICO will expand its AI platform with new applications for utilising digital twins, helping to enhance the resilience and competitiveness of its industrial clients.
Lead image: RIIICO. Photo: uncredited.
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