C3 Technologies AB

Verdane Capital VI acquired shares in C3 Technologies from Saab Ventures in 2008. At the time, the company had Skr 3m in revenues. Verdane Capital Advisors helped define a new business model based on the fast growing 3D market and C3 Technologies was sold in 2011 at a significant strategic multiple.

At time of investment:
  • C3 Technologies provides photographic 3D and related data for use in online mapping and navigation services. The unique technology enables fast and cost efficient capturing and rendering of 3D models from standard aerial imagery equipment.
  • The company has revenues of Skr 3m, and an order book of approximately Skr 15m.
Important actions by Verdane Capital Advisors since Verdane funds’ investment:
  • Verdane Capital Advisors identified the opportunity to establish C3 as a leading content owner in the fast growing 3D market and to leverage the content database with recurring revenues from multiple customers.
  • Led the business planning and definition of business model based on this opportunity.
  • Also, recruited a new chairman of the board and recruited for other management positions, including CEO from Verdane funds’ network.
  • C3 closed a commercial deal with a global online maps provider in 2010. Verdane Capital Advisors then developed a plan together with management to approach all potential customers to gauge interest for an acquisition.
  • C3 was acquired by a global software company in 2011 at a significant strategic multiple. In 2011, the company was expected to have revenues of Skr 50m, and order intake of Skr 250m.