iot health

IoT Evolution Health News

IoT Evolution Health Home

ThoughtWire Set to Grow Digital Twin Technology

By Ken Briodagh
August 24, 2020

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

Asimily Studies the Internet of Medical Things: How Adopting a Holistic, Risk-Based Approach is Key for HDOs

By: Alex Passett    8/23/2023

Internet of Medical Things company Asimily published a new report studying the effects of cyberwarfare on the modern healthcare industry.

Read More

GlobalPlatform Leads the Way in Automotive Security

By: Greg Tavarez    5/28/2023

GlobalPlatform launched a comprehensive initiative to address automotive security challenges and foster collaboration within the industry.

Read More

Validic Expands Healthcare IoT Platform with Integration of Smart Meter's Cellular-Enabled Health Devices

By: Stefania Viscusi    4/5/2023

Validic, a digital health company, announced it has integrated with Smart Meter, a connected health solution supplier, to expand its healthcare IoT pl…

Read More

CenTrak Announces Workflow Software for Improved Healthcare Solutions

By: Alex Passett    1/19/2023

End-to-end healthcare solutions provider CenTrak has introduced Workflow, its new software designed to remove manual burdens in clinical settings.

Read More

The Internet of Cannabis: How Sensor-Based Networks and Precision Horticulture are Going Next Level

By: Reece Loftus    12/19/2022

With its Grow as a Service offering, PharmCloud's has created Cannabis Industry 4.0, with IoT sensors placed throughout the growth process to enable m…

Read More