The global site of the UK's leading magazine for automation, motion engineering and power transmission
29 September, 2023

LinkedIn
Twitter
Twitter link

Industrial metaverse start-up raises $21m for its AI platform

26 January, 2023

A US start-up that is developing a new 4D infrastructure for creating the industrial metaverse, has raised $21.2m in funding to develop its AI platform, expand its partnerships, and boost the adoption of its technology.

The Texas-based company, Worlds Enterprises, was launched in August 2021, and has already attracted blue-chip customers and partners including Chevron, Petronas, Microsoft and AWS. It builds live digital twins of real-world operations that capture processes and transform them into live datastreams. Using AI, it identifies critical variations that are causing inefficiencies, hampering production or making environments unsafe, in real time. Organisations can use the information “to measure, analyse and unlock massive unrealised value”, the company says.

IoT sensors, people and processes come together inside the live digital twins that organisations can use to measure and re-imagine their operations in ways that were previously impossible, according to Worlds. The company’s targets include the manufacturing, distribution and logistics, transportation, energy and defence sectors.

“We stand unique in a market flooded with point solutions, computer vision companies, digital twin providers, and sensor companies that address only a tiny part of a much larger problem,” says Worlds’ president, Chris Rohde. “After hearing from hundreds of digital transformation teams, it is clear that what is really needed is one place where all of these things come together. That is what we built with Worlds.”

Worlds brings many elements together in real time to help solve industrial problems

The financing round was led by Moneta Ventures. Aasim Hasan, a partner in the organisation, says that what Worlds has created is “unlike anything else we have seen in the market, and is reinventing how some of the largest industrial companies are doing business. We see massive potential for growth.”

“Businesses today are racing toward a future where the digital and physical worlds fully converge and radically change how they measure, analyse, and re-imagine their businesses,” adds Worlds CEO, David Copps. “That is precisely the work of Worlds and we are the only company on the planet that can do what we do.”




Magazine
  • To view a digital copy of the latest issue of Drives & Controls, click here.

    To visit the digital library of past issues, click here

    To subscribe to the magazine, click here

     

Poll

"Do you think that robots create or destroy jobs?"

Newsletter
Newsletter

Events

Most Read Articles