IOT NEWS

Industrial IoT News

Industrial IoT Home

ThoughtWire Set to Grow Digital Twin Technology

By Ken Briodagh
August 24, 2020

According to a recent release, ThoughtWire, a Digital Twin Technology platform developer, has closed an investment round for a combined $11.5 million investment with a reported follow-on potential of a further $9.7 million. ThoughtWire said it will use the financing to further its development efforts and international growth initiatives.

The investment round includes current and new investors, including: Yaletown Partners, BDC Capital, Canadian Business Growth Fund, Greensoil PropTech Ventures and EDC.

“We are proud to have new partners who are invested in our vision and mission to orchestrate a safer, secure and sustainable world, and the enormous opportunity that lies ahead for ThoughtWire,” said Michael Monteith, CEO, ThoughtWire. “We're excited to have this opportunity work with our highly respected investors to grow our team and enhance our technology offerings throughout all buildings and cities.”

ThoughtWire’s stated mission is to create smarter environments through Digital Twin implementations. Over the past 2 years, ThoughtWire has been recognized for its Digital Twin platform by Gartner, Verdantix and other firms. The company says the technology is being applied to deliver intelligent automation and guidance to help predict and resolve issues, ensure safety, improve productivity, and achieve energy greater efficiency.

“Digital Twin Technology is a key component to the rapid changes brought by the digitization of traditional industry, transformations driven by IIoT and AI, and supporting companies to build for climate resilient growth,” said Salil Munjal, Managing Partner, Yaletown Partners. “ThoughtWire has been changing how we think about intelligent automation and process optimization to interconnect and orchestrate people, data and things in real time. We are proud to call them our partners and excited about the company’s very bright future.”


Ken Briodagh is a storyteller, writer and editor with about two decades of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Editorial Director

SHARE THIS ARTICLE
Related Articles

Turning Labor Shortages into Competitive Advantages: Fox Robotics' FoxBots Surpass 2.5 Million Total Pallet Pulls

By: Alex Passett    2/8/2024

Fox Robotics has officially surpassed more than 2.5 million pallet pulls with its "industry-first" FoxBot autonomous trailer loaders/unloaders.

Read More

Ceva's RivieraWaves Wi-Fi 7 IP Platform Makes Waves in Next-Gen IIoT

By: Alex Passett    1/31/2024

Ceva's RivieraWaves Wi-Fi 7 IP platform, primed for the next generation of Wi-Fi Access Point and Station/Client products, offers a slew of reliable a…

Read More

From Data to Industry Action: How Digitization Can Majorly Reduce CO2 Emissions by 2030

By: Alex Passett    1/29/2024

Gecko Robotics and Rho Impact recently released data on CO2 emission reductions and how digitization and Industry 4.0 can bring about real environment…

Read More

Mouser Electronics and Panasonic Industrial Automation Sign a New Agreement to Benefit Design Engineers in IIoT

By: Alex Passett    1/15/2024

Mouser Electronics and Panasonic Industrial Automation have announced a new distribution agreement to further support IIoT projects that design engine…

Read More

Perfect Your IIoT Strategies at IoT Evolution Expo 2024, part of the ITEXPO #TECHSUPERSHOW

By: Alex Passett    1/15/2024

Explore what the future holds for Industrial Internet of Things (IIoT) innovators and their innovations at IoT Evolution Expo 2024, taking place from …

Read More