Aker is an investment management company with interests in oil and gas, maritime assets, marine biotechnology, and industrial software. Aker organizes its business activities in two segments: Industrial holdings and Financial investments. Founded in 1841, Aker is headquartered in Akershus, Norway.

Aker

Accel is an early and growth-stage venture capital firm that powers a global community of entrepreneurs. Accel backs entrepreneurs who have what it takes to build a business.  Accel’s vision for entrepreneurship and business enables it to identify and invest in the companies that will be responsible for the growth of next-generation industries. Accel-backed companies include Atlassian, Braintree, Cloudera, DJI, Dropbox, Dropcam, Etsy, Facebook, Flipkart, Lookout Security, MoPub, Qualtrics, Slack, Spotify, Supercell, Vox Media, and others.

Accel

TCV provides capital to growth-stage private and public companies in the technology industry. It also provides management teams with data-driven insights, sector expertise, access to world-class talent, and connections with category leaders.  Founded in 1995, the Silicon Valley-headquartered firm has invested more than $14 billion in over 350 growth-stage technology companies to date. Some of its most prominent portfolio company exits include Airbnb, Facebook, Netflix, Peloton, and Zillow.

Cognite

Cognite is a global industrial AI Software-as-a-Service (SaaS) company supporting the full-scale digital transformation of heavy-asset industries around the world. The flagship product, Cognite Data Fusion (CDF), empowers companies with contextualized Operational and IT data to drive industrial applications that increase the safety, sustainability, and efficiency of industrial operations. Cognite makes industrial data accessible to all, from engineers in the field to data scientists in the office, empowering individuals and companies to create value from data and transform an industry. Founded in January 2017, Cognite today has more than 400 software developers, data scientists, designers, 3D specialists, and industry professionals across offices in Norway, the US, and Japan.

<div>Norway-based Cognite is a provider of digital twin modeling software for an entire operation through complex industrial data. With machine learning and physics simulators, companies are able to use these for predictive maintenance, production optimization, and better decision-making.&nbsp;</div>

Using real-time data to create dynamic virtual representations of the real world

Digital Twin

<div>
 
 Norway-based Cognite is a provider of digital twin modeling software for an entire operation through complex industrial data. With machine learning and physics simulators, companies are able to use these for predictive maintenance, production optimization, and better decision-making.&nbsp;
 
 
 Its main solution Cognite Data Fusion offers an open industrial digital twin by integrating IT, operational, and engineering data from sources such as ERPs, MES, and IoT platforms. The data is cleaned and contextualized into a single location and turned into insights for actionable advice, which then is used to build and automate workflows. The company claimed to be the first company to 
 <a href="https://sp-edge.com/updates/17445">
 achieve DNV-RP-A204 compliance
 </a>
 for its core product, Cognite Data Fusion. The compliance serves as a quality-assurance benchmark for digital twin solutions in the energy industry. In February 2023, the company advanced 
 <a href="https://sp-edge.com/updates/16217">
 new data-modeling capabilities 
 </a>
 to accelerate (up to 10&ndash;25x) deployments of industrial digital solutions and reduce cost and complexity for users.&nbsp;
 
 
 Key Customers and Partnerships
 
 
 The company provides its solution mainly to the oil and gas, power and utilities, and manufacturing sectors. Its key customers include Siemens and Rockwell Automation.&nbsp;
 
 
 In June 2022, Cognite formed a joint venture, CNTXT, with Saudi Aramco to provide its digitization services in the Middle East region for the private and public sectors. Also, in October 2022, the company partnered with industrial automation company Rockwell Automation to develop an industrial data hub for the manufacturing sector by combining Rockwell&rsquo;s software, FactoryTalk, and the Cognite Data Fusion.
 
 
 Furthermore, in September 2022, the company partnered with Schlumberger to integrate the Cognite Data Fusion into Schlumberger&rsquo;s Enterprise Data Solution to contextualize data in an interoperable platform.&nbsp;
 
 
 Funding and Financials
 
 
 The company raised USD 150 million in May 2021 in an equity funding round from TCV, which brought the valuation of the company to USD 1.6 billion. The new funds were allocated toward expanding its platform to global industries.&nbsp;
 
 
 Furthermore, in January 2022, petroleum and gas company Saudi Aramco purchased 100% of Aker BP's shares in Cognite to own a majority stake of 7.4% at a value of USD 183 million.
 
</div>

<div>
 
 Nexar is a developer of smart dash cams that gathers real-time street footage to create a digital twin of the physical world and provide data to users for decision-making. As of November 2022, the company had covered over 1.5 billion miles of imagery and holds 4T images in a neural library.&nbsp;
 
 
 Using AI and computer vision, captured images and videos from cars are localized on a map to detect any changes in roads to provide actionable changed data across the platform CityStream and Nexar network. The platform provides features such as detecting changes on the road (such as road blockages, potholes, and construction), driver behavioural maps, autonomous vehicle systems, and compute and connectivity optimization.&nbsp;
 
 
 The company operates a B2B business model providing its services to enterprises and institutions in the logistics, road construction, and insurance industries.&nbsp;
 
 
 Key customers and partnerships
 
 
 Its key customers include the Regional Transportation Commission of Southern Nevada, which partnered with Nexar in May 2021 to improve road management in Las Vegas.&nbsp;
 
 
 Also, in August 2021, the company partnered with Black Car Fund to provide cameras for Black car operators (rideshare drivers) in New York to protect Black Car Fund members in the case of an accident or assault.&nbsp;
 
 
 Funding and financials
 
 
 The company raised USD 53 million in November 2021 in a Series D funding round led by Qumra Capital. The funds were used to scale its digital twin service using dash cam footage for automotive OEMs and cities.&nbsp;
 
 
 In August 2022, the company acquired Portugal-based Veniam to combine its data with Veniam&rsquo;s communications technology and provide real-time mapping for mobility applications.&nbsp;
 
 
 
</div>

Nexar

<div>
 
 Seeq is a provider of data analytics enabling insights, predictions, and collaboration for better production and business outcomes.&nbsp;
 
 
 The company&rsquo;s product portfolio includes software for data analytics including 1) Seeq Workbench for advanced analytics, 2) Seeq Organizer for publishing reports and dashboards, 3) Seeq Data Lab for accessing Python libraries, and 4) Seeq Cortex for IT governance, data connectivity, and calculation features. Furthermore, the company provides deployment via cloud, SaaS solutions, and on-premise depending on the customer&rsquo;s system.&nbsp;
 
 
 The company provides its services in more than 40 countries focusing on process manufacturing industries, including oil and gas, pharmaceutical, chemical, energy, mining, and food and beverage.&nbsp;
 
 
 Key customers and partnerships
 
 
 Seeq&rsquo;s software is built on long-term vendor partnerships such as SIsoft, Honeywell (since 2017), and Siemens (since 2017).&nbsp;
 
 
 Funding and financials
 
 
 The company raised USD 50 million in April 2021 in a Series C round led by Insight Partners. The new funds were used for market expansion, development, and sales and marketing.&nbsp;
 
 
 
</div>

Seeq

<div>
 
 Q Bio provides a predictive assessment platform to analyse existential risk in an individual&rsquo;s health. The company claims its platform, Q Bio Gemini, is the fastest and safest scanner which takes 15 minutes for the whole body to be scanned.&nbsp;
 
 
 The company provides the Q Exam, which gathers millions of data points from the individual&rsquo;s body, such as blood, saliva, and vitals, and sends results via a web-based Q Dashboard to the individual&rsquo;s physicians. Data is facilitated via the Q Bio Gemini, a digital twin platform that captures whole-body patient vitals in a non-invasive manner.&nbsp;&nbsp;
 
 
 The company operates a B2B2C business model offering services via employers and individuals. It charges membership plans for one year at USD 3,495 for one exam and USD 6,495 for two exams.&nbsp;
 
 
 Key customers and partnerships
 
 
 In May 2021, the company partnered with Amazon Web Services to provide Q Bio&rsquo;s services on its cloud platform.&nbsp;
 
 
 Funding and financials
 
 
 The company raised USD 60 million in February 2020 in a Series B funding round led by Andreessen Horowitz and Kaiser Foundation Hospitals. The new funds were used to improve its proprietary platform.&nbsp;
 
 
 
</div>

Q Bio

<div>
 
 Israel-based Locusview has developed a digital construction management platform to allow companies to manage projects from start to end. The platform is supported by technological capabilities in physical assets, such as plastic and steel pipes, to enable a digital thread (information of an asset such as model or size) and for supply chain and asset traceability.&nbsp;
 
 
 The platform provides features to manage construction projects in and off the field including GPS and sensor-based data collection, fieldwork validations, cloud-based deployment and scaling, real-time progress tracking, online approvals, and built-in reports. Furthermore, companies can lease the complete solution or get a consultation for a customized solution.
 
 
 The company operates a B2B business model, providing its services mainly to the energy, utilities, and telecom industries.&nbsp;
 
 
 Key customers and partnerships
 
 
 The company&rsquo;s customer base includes more than 30 leading energy utilities and telecom companies. The company has a market presence in India, the US, Australia, Mexico, the UK, and Israel.&nbsp;
 
 
 Funding and financials
 
 
 The company raised USD 64 million in April 2021 in a Series A funding round led by Israel Growth Partners. The new funds were used to expand the platform capabilities and for market expansion.&nbsp;
 
 
 
</div>

Locusview

Digital twins are the primary enabling technology for the digital twin industry

Startups can create digital twins of cities; enables modeling/simulation to improve efficiency/quality of life

Digital twins can be applied in the telecommunications industry for remote monitoring of communication towers

Startups can use digital twins to automate and proactively monitor industrial production lines and facilities

Uses edge computing for cost-effective and real-time data processing by reducing transmission costs

Uses AI/ML for the creation of digital twins and when running simulations

Digital twin startups use IoT for remote data collection from sensors to create digital twins

Platforms that facilitate digital twin modeling by either collectively or individually offering any combination of data capture and analytics solutions.

Cognite

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Digital Twin: Birth of the universal virtual replica

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Cognite’s Data Fusion platform achieves DNV compliance

Cognite advances data-modeling capabilities for its platform

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