Our innovation is a 3D digital twin cloud platform that combines artificial intelligence with 3D physics to process industrial IoT data. Because all the information about a product design and its manufacturing process is in the cloud, there is visibility and collaboration across the entire supply chain for faster and more timeliness-based decision making. Artificial intelligence is used to find production bottlenecks, and then physics is used to find optimization opportunities and predict remaining lifetime of a product in service.
All the industry 4.0 part of our cloud platform is developed and certified in large automakers like Mercedes-Benz and Volkswagen. This includes storing IoT information in the blockchain for cybersecurity assurance, processing data using artificial intelligence and 3D physics, and 3D visualization in virtual reality and augmented reality devices. We are now developing a cryptocurrency system for manufacturers issuing smart contracts to suppliers that runs in the blockchain system used to store IoT data.
We are bringing together two large markets, industry 4.0 which is €150 billion market with cryptocurrency which is a €25 billion growing 80% annually. This the great opportunity we are the first exploring, as industry 4.0 understands the asset and cryptocurrency finances the asset.
Problem or Opportunity
The problem of efficiency and margin pressure is high in all industries, with high pressure e.g. to cut development costs in 20% to 30%. High price and lack of access to virtual testing tools creates all types of problem across the supply chain: SMEs are unable to compete with larger competitors, high investment drives development prices up as multiple software is required e.g. CAD (Computer Aided Design), CAM (Computer Aided Manufacturing), CAE (Computer Aided Engineering). Simultaneously, the pressure is also intense to make new products faster which increases design error risk and suppliers are tempted to cut quality requirements of design, modelling and simulation to meet schedule targets.
Solution (product or service)
Our product is a 3D life cycle cloud platform that hosts the 3D digital representation of the plant (plant digital twin), where there is an data flow between the digital twin hosted in our cloud and its real-life counterpart, and, the twin is updated so that the system’s status can be monitored, virtually, in real time to run what-if scenarios and optimal parameters can be determined. Monitoring is done through our ground-breaking hybrid environment where artificial intelligence is used to divide the IoT into clusters in order to reduce the amount of information to be processed, and then physics is used to process the IoT data in order to find optimization opportunities and predict remaining lifetime of a product in service. Such information can be used to reduce downtime and allow the OEM to digitally pay its suppliers when they achieve the production performance that was optimized in the virtual simulation. The IoT stored in our cloud taken from actual service of the plant and the product can be fed back into the product development phase, enabling a closed loop product lifecycle in which future products are continuously optimized.
There are several industry 4.0 platforms in the market, but none offers an integrated digital twin cloud platform like ours, that combines 3D scanning, 3D physics calculation and machine learning.
Design Software Suppliers, e.g. Autodesk (a360.autodesk.com/drive/)
Simulation Software Suppliers, e.g. ESI (cloud.esi-group.com/)
Computing infrastructure on demand, e.g. Rescale (www.rescale.com/)
IoT Cloud, e.g. MindSphere (siemens.mindsphere.io/)
AI cloud, e.g. IBM Watson (www.ibm.com/cloud/ai)
Advantages or differentiators
We have several unique selling propositions that make our cloud platform much more attractive in the market: (1) we give 3D context to IoT industrial data (2) we use a hybrid IoT data processing environment that mixes machine learning to identify problems and 3D physics to find innovative ways to correct them (3) we provide a smart contract platform for manufacturers to pay suppliers when they achieve the production performance that was optimized in the virtual simulation.
Since 2017, we have developed our cloud platform and demonstrated it with the automotive and construction industry with €700,000 projects currently implemented and running in Mercedes, Volkswagen, Peugeot-Citroën, Electrolux, and T-Systems, with revenue growing 30% monthly.
Pilots involved 3D scanning an entire production plant our building to put the 3D geometry of the plant in the cloud, connect their IoT data cloud to our out platform so that we can use artificial intelligence to “clean” the data, i.e. to check if the data is according to the profile and delete it or if not redirect to a deeper analysis by our physics calculation algorithms.
Our platform uses complementary business models: one-off payment for 3D scan of a plant and host that information in our cloud; monthly payment to update the 3D scan and process IoT data using our unique hybrid processing environment of artificial intelligence and 3D physics; and commission rate for the transactions that happen through our digital coin system.
Money will be spent on
The present funding round has two main goals: 65% of the funding will be focused on moving our sales team from a regional base in Latin America to a more global base with physical presence in markets in Europe and Middle East; 30% of the funding will be focused on developing the cryptocurrency system of our cloud and start the first payments though it; and 5% will be for other costs.
Offer for investor
We are raising €500K from investors for 10% equity of our company, which will give us an 18-month runway.
Cybersecurity is always a risk when storing data in a cloud platform. That is the reason we implemented a blockchain to provide complete cyber security by guarding systems from fraud and data theft. This blockchain is now being augmented to go beyond storing industrial data to also store cryptocurrency transaction data. This complete system gives a tremendous boost of efficiency in industrial sectors with a large supply chain base, where data is scattered in legacy systems with little cybersecurity protections.
Incubation/Acceleration programs accomplishment
Porto Startup Accelerator
We are patenting the IoT hybrid processing environment where artificial intelligence is used to divide the IoT into clusters in order to reduce the amount of information to be processed, and then physics is used to process the IoT data in order to find optimization opportunities and predict remaining lifetime of a product in service. This hybrid approach (artificial intelligence and physics) allows to identify the problem and provide a solution with minimum processing time and cost.