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Monday, June 27, 2022

Autodesk acquires Reykjavik startup Modio

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Autodesk, the world leader in 3D design, engineering and entertainment software, announced this week that they had aquired Reykjavik startup Modio for an undisclosed amount.

Modio is only 18 months old but has been getting noticed for their design app for Ipad released early in 2014 which allows users to design their own 3D printing projects.

The acquisition actually took place last October and is now being presented at the same time as Autodesk presents the app as part of their service portfolio under the name Tinkerplay which is a nod to its sister app Tinkercad also from Autodesk.

The new product allows users to design their very own printable 3D toys using either your own designs or use the included character templates. PC world calls the app “insanely fun“.

Modio or Autodesk Iceland will continue their operations in Reykjavik where they currently have a staff of six.

Modio was founded and primarily funded by Hilmar Gunnarsson who was a key person in the IT company OZ which was instrumental around the turn of the century in creating an army of well connected ambitious entrepreneurs which have since started a large number of IT companies inside and out of Iceland.

Hilmar stuck with the company through difficult times and ended up in Canada where OZ was sold to Nokia in September of 2008. Hilmar and other owners of the company at the time, most notably Skuli Mogensen, today owner and CEO of WOW air came back to Iceland and invested in many interesting projects.

Hilmar has operated his own venture fund, Investa, during the past few years and among his investments are financial software makers Meniga (Startup of the year 2012) and data analysis gurus Datamarket (Startup of the year 2014) which was aqcuired by Qlik, also in the fall of 2014.

Óli Örn Eiriksson is Head of Economic Development at the City of Reykjavik and occasionally writes about the Reykjavik startup scene and exciting economic developments in Reykjavik at oliorn.

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