Tencent manages $10M A funding round in SenSat which will digitize real-world places

40

If you can digitize all, real-world locations, you would automatically enhance the plan for big infrastructure projects that need buildings, bridges tunnels and the same. 

Around $94 trillion in infrastructure financing is required by 2040 globally to support global growth predictions.

Still, infrastructure is one of the slightest digitized areas in the global economy.

More About SenSat

SenSat is a UK company utilizing AI to generate digital images of real-world places. 

It has now raised a $10 million Series A funding round, managed by Internet giant Tencent, with support from Sistema Venture Capital.

SenSat forms ‘digital twins’ of places, where the outcome is an authentic, digital and up-to-date copy of the real world in a machine-readable setup. 

This allows industries, such as infrastructure, to make more well-informed decisions about significant projects. 

This advances security, cost-efficiency, waste production, project collaboration, and reduces the carbon produced in the projects.

James Dean, who is the Co-Founder and CEO of SenSat, says that SenSat has a modest but intense goal.

To develop the third platform, an intellectual eco-system that translates the real world into a version acceptable to AI. 

This technology will help to form a more sustainable future, using the resources of new insight to help humans make safer decisions.

Pony Ma, CEO and Founder, Tencent added that they believe the first step of the internet, the user internet, is moving to an end, and the second step, the industrial internet, is hitting off. 

SenSat is undoubtedly well-positioned to introduce mass digital industrialization to traditionally offline enterprises that have not yet participated in the digital revolution.

More About SenSat’s Mapp

SenSat’s Mapp platform enables Infrastructure companies to associate with their workplaces digitally by providing digital automation. This assists them in making better decisions with real-world data.

Mapp has more than 30 global infrastructure companies working with it now. 

As part of a plan among Murphy Group for the UK National Grid, SenSat digitized a 52 km underground transportation line for the Triton Knoll offshore wind farm project.

This resulted in decreasing time on the site by 200%, as it claims.

SEE ALSO75F raises $18 mn in a round led by Bill Gates, Bloomberg, Bezos-backed alliance

For more updates and the latest tech news, keep reading iTMunch.