Monday 02 December 2019

Iotic: €7.5m to connect digital twins

logoIotic is a child of its time, blending digital and heritage technologies and bridging physical and digital environments with its digital twin proposition. The concept of a digital twin is well established but often refers to the virtualisation of a single item. The latest evolution is virtualising multiple items which requires a blend of virtualisation and secure interconnectivity (middleware to use the traditional term) and that’s where Iotic comes in. 

The startup provides a cloud-based brokered interoperability layer between multiple systems (from heritage to IoT), data, assets, places and even people, alongside the capability to create the virtual models that includes semantic modelling, event analysis and automation tools. Iotic ticks many of the right Industry 4.0 and Enterprise 4.0 boxes, hooks digital technologies like AI/ML, IoT and intelligent automation into existing IT environments, and holds the promise of a practical tool to turn digital agendas into practical realities. 

The proposition has secured funding of €7.5m from IQ CapitalTalis Capital and Breed Reply for the company that was founded in Cambridge in 2014, is now based in London and has recently opened a US office. It cites Rolls-Royce Power Systems and BAM Nuttall as customers and the initial target markets are manufacturing, construction and infrastructure, large sectors that are starting to ramp up investments in digital-enabling technologies.

Posted by: Angela Eager

Tags: funding   startup   software   manufacturing  

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