Sensat is a digital twin company based in London. The company recently received $20.5 million, or £16.7 million, in additional funding from National Grid Partners and other investors. Previously, another co-founder of Facebook had invested in the company, although we don’t know if this was one of the investors involved in the most recent funding round.
Sensat plans to use the funds to accelerate their development and international expansion. The company hopes to be the first European company to become a trillion-dollar business.
James Dean, the CEO of Sensat, says the company is happy to have National Grid Partners as a shareholder. In the future, the company will serve the utility and infrastructure sectors by utilizing digital automation. This new era will affect both sectors across the world.
Digitising Construction Industry
Sensat is a business that uses digital technology to help projects that aren’t well served by the construction industry. Its founders are James Dean and Harry Atkinson.
IBM defines a digital twin as a virtual representation of a physical object.
By uncovering hidden risks, the UK company helps infrastructure owners and their construction partners deliver their Infrastructure programs on time and within budget. Yardlink tries to digitize the construction industry’s procurement process; Sensat deals with the industry as a whole.
Software provided by Sensat helps construction teams manage and visualise live construction data to make smarter decisions, better coordinate, and track project performance.
Sensat claims to manage over $150 billion worth of infrastructure every day around the world.
One of the largest investor-owned energy companies in the world, National Grid plc., is part of a venture investment and innovation arm called the National Grid Partners.
NGP pushes significant financial and strategic gains while introducing system-wide innovations.
The organization provides a multi-functional approach to building startups that includes business acceleration, corporate venture capital, incubation and innovation.
Many large-scale infrastructure projects already use Sensat to digitally manage their projects and eliminate data silos. In addition, the software helps teams collaborate more easily by eliminating manual processes and data silos. National Grid Partners’ Head of European Venture Capital, Ian Cooper, commented that he hopes Sensat becomes the leading digital twin solution for infrastructure projects.