Columbia, SC – South Carolina Research Authority’s investment affiliate, SC Launch Inc., has invested $200,000 in CADchat. The Mt. Pleasant-based company provides immersive, 3D, digital product development workspaces that enable advanced collaboration while reducing work.
Revaly Inc., dba CADchat, became an SCRA Member Company in 2023, successfully matured through the SC Launch Program, and became an SC Launch Inc. Portfolio Company with this investment.
CADchat is advancing the product development industry by providing digital tools to communicate effectively with engineers, designers, manufacturers, and non-technical support staff. “From audio and video to 3D avatars and cursors, CADchat’s capabilities communicate with clarity and precision,” said SCRA Senior Investment Manager Mitch Smith. “It’s a one-stop-shop for interactive meetings and project amendments in the product development process. Design reviews run in real-time so team members can continue working outside formal meetings and interactions, as well.”
“Our mission is to connect, accelerate, and deepen the CAD experience with accessible, simple-to-use, cross-platform solutions to complex and underestimated problems. The teams at SCRA and SC Launch Inc. understood this and saw how we are positioned to revolutionize the product development industry,” said CADchat CEO Graham Bredemeyer. “They believed in us, and we’re fortunate to have them as partners in our growth.”
“Innovation is creating something new and making something better, and CADchat is putting innovation to work by improving the product development process,” said SCRA President and CEO Bob Quinn. “Their platform is a digital workplace with all the tools teams need to work efficiently. We’re looking forward to their continued success.”
CADchat was recently featured in several trade news outlets for its partnership with GE. It’s responsible for GE Vernova, GE’s sustainability subsidiary, reducing part and tooling development cycle times from two to three months to as little as one to two weeks. This efficiency improvement is over 90% without system or hardware changes.
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Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and investment funding to qualifying SCRA Member Companies. The returns on this funding provide additional coaching and grants to next-generation technology startups.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority fuels the state’s innovation economy through the impact of its comprehensive services to technology-based startups, academia, and industry. SCRA provides funding and support to accelerate the growth of academic startups; high-quality lab and administrative workspaces; facilitation and funding for partnerships between and among industry, startups, and academic institutions; assistance and funding for the relocation of technology-based companies to South Carolina; and coaching and funding for startups that may also receive investments from its affiliate, SC Launch Inc.
Media Contact
Adrianne Grimes
Director of Marketing and Communications, SCRA
adrianne.grimes@scra.org
