SenSat, the British technology company that simulates reality, has raised £3.31m in seed funding to develop its technology.
The round was supported by notable investors including Force Over Mass, Round Hill Venture Partners and Zag (the venture arm of global creative agency BBH).
SenSat is on track to achieve 1,300% year on year growth and turned a profit within its first quarter of trading. The company is looking to invest in its San Francisco office following strong commercial traction throughout 2018.
Launched in 2017 by founders James Dean and Harry Atkinson, SenSat turns complex visual and spatial data into a real time simulated reality that helps computers solve real world problems.
The cloud-based technology allows companies operating in physical domains, such as infrastructure construction, to make more informed decisions based on multiple variables at large scale and complexity. SenSat call this ‘Visual Intelligence’, a subset of Artificial Intelligence focussed on teaching computers how to understand and interact with the real world.
Since launch, SenSat’s simulated reality platform, Mapp®, has supported over £3.5bn of civil infrastructure projects for clients such as National Grid and Highways England. The platform gives a deeper understanding of site workings in an easy-to-use, accessible interface, helping companies track key project variables such as safety and progress.
James Dean, CEO of SenSat, said: “We believe that the ability for computers to understand and interact with the real world is the next major phase in technology. It will enhance the human experience and change how we understand the real world, helping us to make better decisions.”
Alvin Chua, CTO at SenSat, said: “The core technologies we’re building enable many of the emerging technologies of tomorrow.
“By creating an operating system that allows users to apply our base technology into solving their niche needs, we create the ability for Mapp® to positively impact any industry that makes critical decisions based upon physical and environmental factors”.
Martijn de Wever, CEO of venture capitalist Force Over Mass, said, “SenSat are one of the few players building a platform where the physical and digital worlds meet. They have a clear vision for their technology, but it is more than just aspiration - they are already running a successful commercial business. Their development shows astute execution within an exciting and ambitious vision that we’re honoured to be a part of.”
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