Sensat, a London, UK-based digital twin company that translates the real world into digital twins to help physical industries analyze their built environment, raised $20.5 million (£16.7 million) in a Series B round of funding.
National Grid Partners led the round, the venture investment and innovation arm of National Grid plc., one of the largest investor-owned energy companies in the world.
The funds will help Sensat to accelerate international expansion and product development, underpinning infrastructure automation. Reportedly, the firm aims to become Europe’s first-ever trillion-dollar company.
Sensat CEO James Dean says, “We are delighted to welcome National Grid Partners as a shareholder and look forward to serving utility customers in the UK, the US, and beyond, bringing a new era in digital automation for the utility and wider infrastructure sectors."
The UK company helps infrastructure owners and their construction partners to deliver infrastructure programs on time and within budget by uncovering hidden risks.
Company: Sensat Digital Limited
Raised: $20.5M
Round: Series B
Funding Month: October 2022
Lead Investors: National Grid Partners
Additional Investors:
Company Website: https://www.sensat.co/
Software Category: Visualization Platform
About the Company: Founded by James Dean and Harry Atkinson, Sensat is a digital twin company with a mission to digitize the underserved construction industry and bring efficiencies to the development and operation of large infrastructure projects. Sensat’s software powers teams to manage and visualize live construction information to plan, coordinate, and track project performance for better, faster, more data-driven decisions. It collects and delivers infrastructure data in its visualization platform, translating the real world into a digital version, to help physical industries analyze and understand their built environments and make smarter decisions. Sensat's solutions are being used by leading infrastructure companies, such as Aecom, Connect Plus, Heathrow, Kier, Morgan Sindall, Network Rail, and WSP.
Source: https://techfundingnews.com/london-based-sensat-raises-20-5m-to-digitise-construction-industry/