Smart City

Smart City Sentinel

ThoughtWire Set to Grow Digital Twin Technology

By Ken Briodagh

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

Editorial Director

SHARE THIS ARTICLE
Related Articles

Bosch Deploys Traffic Video Sensor Tech in Peachtree Corners

By: Ken Briodagh    9/28/2020

Collaboration between the City of Peachtree Corners in Georgia and Bosch Building Technologies is designed to leverage video sensors to manage and ana…

Read More

IoT Time Podcast S.5 Ep.35 mHub

By: Ken Briodagh    9/24/2020

In this episode of IoT Time Podcast, Ken Briodagh sits down with Haven Allen, CEO & Co-Founder, mHub, to talk about IoT startups, IIoT, funding, manuf…

Read More

Trust is Fundamental to Today's Supply Chain

By: Special Guest    9/22/2020

As devices become more connected and mobile, embedding trust in transactions and processes is an essential part of supply chain operations.

Read More

Ericsson accelerates 5G for Enterprise with acquisition of Cradlepoint

By: Ken Briodagh    9/22/2020

Ericsson acquires Wireless Edge WAN solutions provider for $1.1 billion, to complement enterprise offerings and creates valuable new revenue streams f…

Read More

Z-Wave Alliance Announces New Long Range Specification

By: Ken Briodagh    9/22/2020

Z-Wave Long Range offers 4x wireless range, 10x node scalability for larger network support, 10-year coin cell battery life, and maintains Z-Wave back…

Read More