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Cloudworx Raises Seed Funding from SucSEED Indovation Fund

Cloudworx and SucSEED Indovation Fund

Cloudworx Technologies has secured Seed Capital from Hyderabad headquartered SucSEED Indovation Fund as well as IIIT Hyderabad, Expert Dojo, and other angel investors.

Cloudworx has created a platform that allows users to create 3D applications for the Enterprise Metaverse as Integrated Development Environment (IDE) Platform.

Unlike other Digital-Twin builders, Cloudworx allows users to import custom 3D models, create animations, interactions, workflows and alerts on them; and link them with real-time IoT sensors data to build digital twins in a no-code fashion.

Founded in Dec 2019, Cloudworx launched the first version of their product during the first Pandemic wave and has expanded to clients across US and EU markets over the past two years with marquee clients in energy, utility, manufacturing, and e-governance.

Yuvraj Tomar, the Founder and CEO of Cloudworx said, “Going through tons of graphs, charts, and dashboards is very cumbersome and painful for business owners. That’s why they are adopting the Enterprise Metaverse in the form of digital twins. However, it’s not a simple task to create a working, scalable, and living virtual replica of your factories in 3D. It’s really complicated, and requires a specialized 3D development team to do the job; thus out of the reach of many businesses. This is where we step in to bridge the gap by bringing the capabilities of NoCode into a 3D workspace that allows businesses to build 3D apps without writing any code or having to depend on a 3D team.”

He further added that “Seed funding raised from SucSEED Indovation Fund as well as such established Angel Investors, will help us strengthen our existing partner channels and add more muscle to our product of ering. We intend to launch the product in a Freemium SaaS of ering by 4Q and open up a new market category – “citizen developers for the metaverse”, in a domain that has only comprised game-engine and Web3 developers till date.

Speaking on their investment reasons, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Based on a report by Fortune Business Insights, metaverse market size was valued at USD 63.83Bn in 2021. The report forecasts that the market is projected to grow from USD 100.27Bn in 2022 to USD 1,527.55Bn by 2029, exhibiting a CAGR of 47.6% during the period. Low-code/no-code (LCNC) platforms are gaining momentum to cut down software development cycles. Cloudworx dif erentiates itself from others by focusing on building 3D no code editors to build metaverse maps for real time monitoring of locations. Whereas, most of the startups in this space are building no code platform to build only apps. We wanted to help Cloudworx to scale with many businesses & segments for rapid adoption”

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