$4.5m seed investment to
further develop SenSat’s simulated reality technology
August 10 2018
London, 10th of August 2018: SenSat, the British technology company that simulates reality, today announces that it has raised $4.5m in seed funding. 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). The investment will be used to develop SenSat’s technology, including its novel 3D computer vision workflows and cutting edge dimensional interpolation, both core ingredients for building intelligent simulated realities. The company is also looking to invest in its San Francisco office following strong commercial traction throughout 2018. SenSat is on track to achieve 1,300% year on year growth and turned a profit within its first quarter of trading.
Launched in 2017 by founders James Dean (CEO) and Harry Atkinson (Head of Product), 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. Aggregating digital data, Mapp® has successfully recreated the entirety of High Speed Rail 2 (HS2), using methods that are 75 times more efficient than previously possible.
The company already has research streams looking at applications for 5G, where Swiss company U-Blox are using SenSat’s Cambridge City simulated reality to plan cellular mast locations, Autonomous Vehicles which can use the platform to run millions of hours of driverless simulation in a real-world environment and AR/VR which allows users to quickly create content based on exact replicas of real world environments.
“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” said James Dean, CEO of SenSat.
“The core technologies we’re building enable many of the emerging technologies of tomorrow,” comments Alvin Chua, CTO at SenSat. “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”.
SenSat is a technology company that simulates reality; their platform brings clarity to complex visual and spatial data, allowing companies to make smarter, faster and safer decisions.
The investment will be used to further develop SenSat’s simulated reality technology, which will help computers solve real world problems.
SenSat is on track to achieve 1,300% year on year growth and turned a profit within its first quarter of trading.
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.”