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“Like building with LEGO bricks” – German startup RIICO secures €4.3 million to digitalise factories
- German startup RIIICO secures €4.3 million in Seed funding led by Pi Labs to expand its AI platform for digital models in factories.
- RIIICO's platform aims to enhance the resilience and competitiveness of industrial clients by utilizing digital twins to quickly adapt established factories.
- The AI-based software detects machines and infrastructure in factories, generating 3D digital twins for quick scenario simulation and implementation.
- RIIICO's solution makes retrofitting factories more efficient, allowing for faster redesign processes and product launches.
- The startup targets established Western manufacturers facing the challenge of upgrading existing sites during ongoing operations while new competitors build modern greenfield plants.
- The platform was successfully used in the automotive industry to install electric vehicle production lines in factories, setting a new benchmark for quality and efficiency.
- Faisal Butt of Pi Labs sees RIIICO as a potential transformer of factory redesign using AI to create collaborative 3D models from LiDAR scans.
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