Paracosm Harnesses $800k in Funding for 3D Modeling and Navigation

9, December 2013

Paracosm, a local company with contracts with Google and NASA, has harnered $800,000 in funding to put towards its 3D modelling and navigation software.

Paracosm, which uses technology that emanated from UF, develops software using computer-aided design (CAD) to convert depth camperas into 3D mapping systems. By using the cameras to map out a space, the company can go through steps to create a virtual simulation.

the Institute for the Commercialization of Public Research, which has an office in the Florida Innovation Hub, funds companies that bud from national universities and research institutions and will be providing $300,000 of the total. One caveat is that funding from the institute requires a private funding match.

Paracosm’s private funding includes $500,000 total from angel investors in Gainesville and South Florida, and the Vegas Tech Nimbus Fund, CEO Amir Rubin said to the Gainesville Sun.

Rubin, who worked at Prioria Robotics before co-founding Paracosm in January, has grown the business from 5 to 15 employees in Gainesville and plans on further growth. Earlier this year, Paracosm took home "Top Gun" status, winning the Gainesville Area Innovation Network's GAIN ShootOut. The competition consisted of 16 local startups vying for prizes including cash, legal and accounting services, $500 in exhibit materials, and hundreds of dollars in miscellaneous prizes.

Said 32-year-old Rubin to the Gainesville Sun: “We plan to disrupt the professional 3D scanning industry by enabling users to scan a space using readily available cameras, upload their data to a cloud infrastructure that converts the scan to a CAD file and download their model for use in any 3D CAD modeling tool of their choice, and funding from the Institute will help us to get there faster.”

TRIMARK PROPERTIES | STAFF | 09-DEC-2013