NavVis, a software company deriving from the Technical University of Munich (TUM) has raised a total of $35.5 million to accelerate its digital twin platform.
Integrating its 3D scanning hardware, NavVis M6, and 3D visualization software, NavVis IndoorViewer, this platform provides a virtual workspace which for collaboration and insights that “drive strategic decision-making as well as day-to-day operations.”
The Series C funding round was led by Digital+ Partners and included Kozo Keikaku Engineering Inc. (KKE), MIG, Target Partners, and BayBG.
Digital twin technology
Digital twin technology enables intangible replicas of physical assets, processes, and devices. Based on the Internet of Things (IoT), a digital twin encompasses a network of connected devices exchanging data.
GE Global Research is currently developing digital twin models of metal 3D printed parts for the U.S Navy to accelerate the production of mission-critical equipment. Furthermore, according to KPMG, a growing amount of manufacturers are integrating its suppliers and customers into a demand-driven supply chain through digital twin concepts.
A virtual workspace
Founded in 2013, NavVis has identified two critical challenges experienced by enterprises seeking to implement digital twin technology. This includes scanning large industrial facilities to capture information and processing data and making it accessible to the workforce.
As a result, NavVis is has developed its technology to provide easy access, immersive 3D visualization and interactive features for efficient factory operations. Felix Reinshagen, NavVis co-founder and CEO said:
“The major German automotive manufacturers, who served as early adopters, paved the way for our digital twin technology to transform how enterprises will operate in the future. As a result, we are now experiencing a tremendous surge in demand for our well-established and trail tested platform.”
“Our mission is now to empower every enterprise with the easiest and most powerful way to build and operate their own digital twin to the fullest potential.”
The new funds will be used to accelerate international growth and product development through the NavVis developer API and mobile SDK, which has been used by SAP and Autodesk.
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Featured image shows NavVis founders Robert Huitl, Sebastian Hilsenbeck, Felix Reinshagen, and Georg Schroth. Photo via NavVis.
