London 20 October 2022
Sensat has raised $20.5m (£16.7m) in Series B funding in a round led by National Grid Partners, with participation from existing investors. Sensat is a leading digital twin company with a mission to digitize the underserved construction industry and improve the design and operation of large infrastructure projects.
The funds will help Sensat lead the digital automation of infrastructure projects in the energy, rail and telecommunications sectors, which have traditionally lacked the productivity gains that have been a by-product of the rapid adoption of digital technology that has taken place in other sectors.
Sensat helps infrastructure owners and their construction partners complete tasks on time and on budget by fostering team collaboration, identifying hidden risks, eliminating site visits and acting as a window into the entire project. Teams can visualize and collaborate on multi-layered, high-resolution digital twins, resulting in faster project completion, fewer errors, lower costs, and better project productivity.
Today, more than $150 billion worth of assets worldwide are planned, built and managed using Sensat software.
The investment by National Grid Partners, the corporate venture capital and innovation arm of National Grid, promises a critical role for digital twin technology in smarter management of utility infrastructure projects. National Grid’s presence in the US market will help Sensat understand the specific needs of US customers and better tailor the platform to meet the market.
Sensat CEO James Dean said: “We are delighted to welcome National Grid Partners as a shareholder and look forward to serving utility customers in the UK, US and beyond, bringing a new era in digital automation to the utility and wider infrastructure sectors.
Ian Cooper, head of European venture capital at National Grid Partners, added:Many of the world’s largest infrastructure projects already use Sensat to digitize the planning, design and management of their infrastructure projects and improve team collaboration – eliminating the largely manual processes and data storage that characterize traditional project management. We hope that Sensat will become the leading digital twin solution for utility infrastructure projects and beyond.»
Ends //
About National Grid Partners
National Grid Partners (NGP) is the venture capital investment and innovation arm of National Grid plc., one of the world’s largest investor-owned energy companies. NGP invests in achieving strategic and financial impact and leads the company’s disruptive innovation efforts. The organization provides a multi-functional approach to startups, including innovation (new business creation), incubation, corporate venture capital, business development and venture business acceleration. NGP is headquartered in Silicon Valley with offices in Boston, London and New York. Visit ngpartners.com or follow us at www.twitter.com/@ngpartners_ and www.linkedin.com/showcase/national-grid-partners.
About Sensat
At Sensat, we work on technology that defines an era; our mission is to automate the planning, construction and management of infrastructure to create a more sustainable future.
Sensat helps infrastructure owners and their construction partners deliver infrastructure programs on time and on budget by identifying hidden risks. Our software enables teams to manage and visualize active construction information so they can plan, coordinate and track project performance for better, faster, more data-driven decisions.
Our team is made up of seasoned operators who have built, managed, facilitated and learned from some of the world’s most prominent scaling success stories in technology. Our management team has led multi-billion dollar exits into the construction/technology sector for companies such as Google, Amazon, Oracle, McKinsey, Microsoft and Palantir. We are goal-oriented, transparent and agency-supportive.
Today, more than $150 billion worth of infrastructure is planned, built and managed through Sensat worldwide. As the foundation of society, we want the majority of the world’s population to have access to fundamental infrastructure (without destroying our home planet).
Media contact:
UK: Gemma Dodd [email protected]
USA: Melissa Tyree [email protected]
Sensat Digital (t/a Sensat) secures £16.7 million Series B investment led by National Grid Partners
