NEWTWEN, an Italian company specializing in advanced software solutions within the Digital Twins sector, revealed its successful completion of a Series A funding round, securing €7M.
The funding was primarily led by 360 Capital, accompanied by notable participants including Vertis SGR, CDP Venture Capital SGR, Plug and Play Tech Center, and JOIN CAPITAL.
Back in 2020, NEWTWEN successfully obtained its initial investments from Vertis. Following that, in 2021, CDP Venture Capital and Plug and Play Tech Center, who jointly invested through the Motor Valley Accelerator, also joined in funding NEWTWEN’s endeavors.
With the recently secured funds, the company aims to bolster its sales network within the European market and expedite the advancement of its technology and product development.
NEWTWEN Empowers with Digital Twin-Based Technology
NEWTWEN was founded in 2020 by Francesco Toso, Riccardo Torchio, Milo De Soricellis, Silverio Bolognani, and Piergiorgio Alotto as a spin-off of the University of Padua, initially operating under the name Hexadrive Engineering.
Specializing in the electrical drive and automation industry, NEWTWEN develops cutting-edge software solutions that enable the rapid and automated generation of real-time Digital Twins. The company’s innovative Digital Twins on Chip (DTOC) technology facilitates optimal cooling management, real-time monitoring, and model predictive control. These capabilities contribute to reduced production costs, heightened efficiency, energy savings, and extended product lifetimes.
The integration of Digital Twins into current systems not only enhances their performance, durability, and dependability but also sets our platform apart. What makes us unique is our ability to achieve these improvements without the need for any extra electronic hardware components, as highlighted by the company.
In essence, the platform provides a comprehensive solution that delivers crucial data directly to the microchip, guaranteeing unparalleled accuracy for real-time, multi-physics simulations. This achievement is made while staying within the computational constraints imposed by the existing electronics of the systems.
NEWTWEN strives to take the lead in developing software tools that autonomously generate embeddable, real-time, and adaptive Digital Twins On Chip. Their objective is to become a frontrunner in this field.