- Twinsity raises seven-figure seed funding from C3 EOS VC Fund
Twinsity’s SaaS product Twinspect has attracted the attention of leading international engineering companies and realized various projects in bridge renovation, building inspection and the maintenance of industrial plants.
The investment will enable the company’s further growth, particularly in the development of its core technology. Gaining access to the EOSIO blockchain will help them to expand the software platform’s application possibilities.
Frankfurt am Main/ Kassel, Germany, October 12th, 2021 – The German start-up Twinsity has raised a seven-figure seed-investment in a funding round led by C3 EOS VC Fund.
Founded in 2019, Twinsity develops SaaS solutions for producing digital 3D replicas of real, existing objects, so-called digital twins. With Twinsity’s SaaS platform, TwinSpect, highly detailed inspections of infrastructure, buildings and industrial plants can be conducted virtually.
Users from the architecture, engineering and construction (AEC) industry can use a combination of high-resolution digital twins and drone imagery to precisely identify, mark and measure damaged areas while working both collaboratively and entirely remotely with their teams. Today, Twinsity works with leading international construction companies, engineering firms and general contractors on various large-scale projects for building and infrastructure inspections and maintenance of industrial facilities. Companies that have already implemented the software in their work processes include, among others, PCL Construction, a leading Canadian general contractor. Furthermore, Twinsity is working to build a global partner network with leading drone service providers to increase visibility and global reach.
“With our digital twin platform, we want to improve and simplify the work processes of a wide range of industries by working on further development every day. The opportunities that are inherent in the use of digital twins are incredibly large and we want to be a major part in the further expansion of these possibilities,“ explains Fabien Chalas, CEO and co-founder of Twinsity.
The planned integration of blockchain technology into the TwinSpect SaaS solution is intended to allow users to conduct virtual surveys with anti-counterfeiting security.
“The use of blockchain technology is predestined for this use-case. With the integration of the Digital Twin solution into the inspection process, a significant reduction of potential security risks, as well as an increase in efficiency and cost savings will be achieved,” explains Juan Rodriguez, Managing Partner of C3 EOS VC Fund.
In the future, Twinsity will continue to develop its SaaS solution for highly innovative asset lifecycle management based on the current TwinSpect platform thanks to a rapidly growing team. The company and its Digital Twin technology will bring further solutions to market to simplify and improve work processes in further industries, such as real estate and insurance.
C3 EOS VC Fund is a partnership between Block.one and FinLab, an investor in financial services technologies and blockchain globally.
About Twinsity GmbH:
Twinsity GmbH was founded in 2019 with the aim of visualizing and using drone data in the best possible way. The two founders have many years of experience in software development and know the drone industry well. Uwe Chalas, co-founder of Twinsity, successfully led his last company Aibotix, which manufactured flying drones, to an exit. Based on the expertise from this industry, Twinsity was founded together with Fabien Chalas. Today, the start-up offers an state-of-the-art SaaS platform TwinSpect for digital twins with which users from the AEC industry can visualize, inspect and productively work with high-resolution drone data. Based on the high-performance visualization solution developed and researched by the company, further solutions are to be developed in the future that will simplify the work processes of various industries by using digital twins.
For more information, please contact:
Danlai Zhu, CFO
T: +49 5693 9187757
About C3 Management and C3 EOS VC Fund FUND
C3 Management GmbH is an asset management company focused on managing venture funds which invest in exceptional blockchain technology companies worldwide. C3‘s mission is, among other things, to accelerate growth, development, and especially adoption of EOSIObased blockchains and the EOSIO software. Towards this mission, C3 manages the FinLab EOS VC Fund, which is partly funded by Block.one and offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO. The EOS VC Fund focuses on early and growth stage technology companies and typically takes a minority equity stake. C3 operates worldwide and is located in Frankfurt, Germany.
Block.one is an asset holding and investment company that creates, incubates, and invests in businesses that build trust in transactions, transparency in systems, and efficiency in how our world works. Through strategic capital allocation and pioneering business ventures, Block.one has funded more than 100 innovative entrepreneurs to date. Block.one is also the creator of EOSIO, a highly performant open-source blockchain software, built to support and operate safe, compliant and predictable digital infrastructures. For more information, please visit Block.one.