Iotic raises £6.5m for ‘digital twin’ tech
Iotic has secured £6.5 million investment to accelerate growth and meet increasing demand for its pioneering digital twin technology.
Founded in Cambridge and now operating out of London and the United States, Iotic helps ecosystems within enterprises such as Rolls-Royce Power Systems interact automatically and securely.
The digital software company provides the secure operating environment and tools to create digital twins of anything.
It says this enables secure interactions between anything from the smallest sensor to the largest power station, engine, train or plane, as well as people, suppliers and customers, helping businesses to deliver on the promise of AI and machine learning.
The investment from leading European VCs IQ Capital, Talis Capital and Breed Reply will drive rapid deployment, deepen channel partnerships and expand market adoption of its patented technology.
“This investment is a further major endorsement of our operating environment and tools and the business strategy behind them,” said Robin Brattel, CEO of Iotic.
“Having already secured a number of high-profile clients, we are focused on further development and scaling – initially targeting high-value manufacturing, construction and infrastructure sectors.”