Venture Capital & Business Strategy

Xinaps attracts new investment capital – VisitReturn advised Xinaps

VisitReturn (Ludolf Stavenga) advised Xinaps in this financing round. From fundraising strategy, documentation, finding investors, negotiations and closing. After this round VisitReturn will remain committed helping Xinaps achieving its ambitious goals!

Software developer for the building design industry Xinaps attracts new investment capital (original article on InnovationQuarter)

Xinaps is a startup developing plug-ins that allow architects to see the impact of a design decision at a glance. It is to receive a capital injection from the Enabling Technology Fund and InnovationQuarter, the regional development agency for the province of South Holland. The software company will use the investment to fuel growth and boost its development capacity and marketing. The capital will also facilitate Xinaps’s entry into foreign markets.
From left to right: Frank Schuyer (Xinaps), burgemeester Van Bijsterveldt (gemeente Delft) © Daniel Verkijk

A need for smart analysis of design decisions

Marja van Bijsterveldt, the new mayor of Delft since 2 September, officially announced the investment on Thursday, 8 September. The announcement took place during the annual BBQ event held by the tech incubator YES!Delft, whose incubator programme Xinaps recently joined and where the startup is now based. “Delft excels in the areas of research, knowledge and innovation and plays a prominent role in various technological sectors. This makes me very proud! Organisations like YES!Delft and InnovationQuarter are making a tremendous contribution by supporting companies like Xinaps,” explained Van Bijsterveldt. Buildings must comply with complex regulations regarding accessibility, lighting, facilities and safety, which is why every design choice that an architect makes not only has financial consequences but also impacts compliance with legal requirements. Xinaps is responding to a growing need for tools devised to carry out smart and rapid analyses of key decisions during the design process. Frank Schuyer, CEO of Xinaps says,
With the support of Enabling Technology Fund and InnovationQuarter, we have two partners with whom we can achieve the acceleration this market is asking for. Thanks to their contribution, we can now take our ambitious objectives to the next level.
“We are convinced that their expertise and know-how are contributing to the continued development and professionalisation of Xinaps, an emerging international software company.” Investering in softwareontwikkelaar voor bouwwereld Xinaps From left to right: Pieter Guldemond (YES!Delft), David van Haaster (Rabobank), Geert van Etten (Enabling Technology Fund), Damien van der Bijl (InnovationQuarter), burgemeester Van Bijsterveldt (gemeente Delft), Thijs Schaap (InnovationQuarter), Frank Schuyer (Xinaps), Rinke Zonneveld (InnovationQuarter), Ludolf Stavenga (VisitReturn) © Daniel Verkijk

Complements existing software programmes

Thanks to Xinaps’s software, the impact of design decisions no longer has to be calculated manually using spreadsheets. The consequences are immediately clear during the design process. Not only does this save design professionals a considerable amount of time, but it also prevents mistakes and inaccuracies. The plug-ins that Xinaps develops complement the software that architects use to create Building Information Models (BIMs). BIM software makes it possible to save, use and manage all the relevant information during the entire design and building process in a digital 3-D model of the construction. Francis Quint, Head of InnovationQuarter Capital: “Xinaps offers smart solutions for an industry where digitisation is still in its infancy. Thanks to a combination of Delft-based technology and international ambition, Xinaps is a perfect candidate for InnovationQuarter’s portfolio.” For InnovationQuarter, the investment was made possible by a contribution from the EU’s European Regional Development Fund (ERDF). Rabobank Zuid-Holland Midden assisted Xinaps’s CEO with the investment transaction and introduced him to InnovationQuarter. In addition to the capital injection, the bank is providing working capital financing. David van Haaster, Wholesale Account Manager at Rabobank Zuid-Holland Midden, explains, “In our role as financial adviser, we use our network and also look for forms of financing outside Rabobank. Xinaps is a great example which clearly shows that banks are no longer the only source of financing.” Investering in softwareontwikkelaar voor bouwwereld Xinaps

Strong growth in the number of BIM users

Xinaps’s products primarily focus on the BIM software Revit by Autodesk, the international market leader with 70 per cent of BIM users. Worldwide, some 800,000 professionals currently use this software, a number which is expected to grow to two million by the end of 2017. “Xinaps operates in a niche market that is constantly changing and is set to intensify in the coming years,” explains co-investor Geert van Etten from the Enabling Technology Fund. He adds, “Through both direct sales and sales via partners, I expect Xinaps to build a strong customer base within a relatively short period and develop its activities worldwide. This will form a solid foundation for further growth.” Xinaps is a spin-off of Vabi Software, which was founded in 1972 by a group of installation and construction companies, the Dutch government, the research organisation TNO and several technical universities. Frank Schuyer started Xinaps in 2015 through a management buy-out of Vabi. There are currently five plug-ins available, focussing on finance, fire safety, daylighting, accessibility and functional building requirements. The company also develops solutions for corporate clients wanting to make their product catalogue available within Revit’s software, thereby making the design process simpler and smarter.
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