Engineering simulation software company Akselos has closed a $16.5m (c.£13.4m) funding round, which it says will allow it to continue its global growth and invest more in its digital twin solutions.
Askelos says the latest investment round will enable it to scale both its team and solutions to optimise the energy industry’s existing infrastructure and accelerate the large-scale deployment of renewable energy.
The round saw participation from AT Capital Group, Future Energy Ventures, Japan Energy Fund, and Shell Ventures.
Akselos aims to provide technology to enable the energy transition in line with its commitment to the IEA Net Zero 2050 roadmap.
Akselos’ claims its solution is 1,000 times faster and 10 times more accurate than the industry standard when modelling large-scale assets.
The solution simulates exact virtual replicas, or predictive and accurate digital twins, of energy assets such as offshore wind turbines and their foundations.
Thomas Leurent, CEO at Akselos, said it has enabled a “new innovation curve” for the energy industry.
He said: “Each time we apply our MIT-licensed technology to a new type of asset with our customers and partners, we’re delivering industry firsts that will shape the future.
“It’s more important than ever to protect and extend the life of our current infrastructure while redeploying capital toward the ambitious Net Zero 2050 roadmap.
“The team at Akselos is incredibly driven and is fully focused on scale, pace, and precision.
“Adoption of our technology allows customers to lead in their respective fields, and we are eager to broaden the applications and usage.”
Today, Akselos company has deployed its software to over 40 customers worldwide.
Image credit: Akselos/Hexagon
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