ThoughtWire aims to create Smarter Built Environments by using Digital Twin Technology, which is being applied across diverse industries to provide intelligent automation and deliver real-time guidance to machines and staff, helping them predict and resolve issues, achieve energy greater efficiency ensure safety, and improve productivity.
FREMONT, CA: Toronto-based developer of a Digital Twin Technology platform, ThoughtWire, closed a combined CAD 11.5 million funding with a follow on potential of an additional CAD 9.7 million. The investment was backed by Yaletown Partners, BDC Capital, Canadian Business Growth Fund, Greensoil PropTech Ventures, and EDC. The company's proceeds from the investment round will be used to further development efforts and international growth initiatives.
"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 of 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."
"Digital Twin Technology is a key component to the rapid changes brought by the digitization of traditional industry, transformations driven by IoT and AI, and supporting companies to build for climate resilient growth. 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." Said Salil Munjal, Managing Partner at Yaletown Partners.
Over the last two years, ThoughtWire has received worldwide recognition for our Digital Twin platform by analysts from Gartner, Verdantix, and many more. The company's technology is now being applied across diverse industries to deliver intelligent automation and provide real-time guidance to machines and staff to predict and resolve issues, ensure safety, improve productivity, and achieve energy greater efficiency.
"ThoughtWire's proven ability to optimize interactions between people and assets within the built environment saves lives, money and resources," said David Harris Kolada, Managing Partner at GreensoilPropTech Ventures. "Our investment in ThoughtWire's latest financing round is an excellent example of our strategy to finance best in class teams with technologies that enable the real estate sector to go digital."