SenSat, the UK company using artificial intelligence to unlock value in the Infrastructure industry through digital representations of real-world locations, announced a $10 million Series A funding round, led by Tencent, with participation from Sistema Venture Capital.
The new capital will be used to support growth, enabling SenSat to expand its London team of 30 experts by more than three-fold over the next year, focusing on data scientists, mathematicians, software developers and creative problem solvers, as well as driving continued international expansion.
SenSat creates digital representations of real-world locations - otherwise known as digital twins - infusing real-time data sets from a variety of sources. The result is an accurate, digital and up-to-date copy of the real world in a machine-readable format. This enables offline industries, such as infrastructure, to make more informed decisions and accurate analysis, driving improvements in safety, cost-efficiency, waste generation, project collaboration, and carbon reduction.
$94 trillion in Infrastructure investment is required by 2040 to sustain global growth predictions, yet infrastructure is one of the least digitized sectors in the global economy, lacking the automation and transparency that has transformed online industries. This lack of digital impact has also meant that much of the industry relies on traditional and inefficient ways of doing business, resulting in a tremendous amount of waste. Combined with the environmental degradation and resource waste linked to unsustainable growth, a compelling case can be made for introducing AI and digital automation to physical sectors.
At the heart of SenSat is Mapp, which allows infrastructure companies to interact with their workplaces digitally to help them make better decisions with real world data.