NavVis, a global provider of indoor spatial intelligence solutions for enterprises, closes a new funding round today – raising a total of $35.5 million. The funds raised will be used to heighten the growth of NavVis in the global enterprise market as their industry is being driven by the increasing popularity of digital twins.

Digital twin technology has been adopted by an increasing amount of enterprise, providing the ability to monitor and regulate physical assets and processes through digital representation. It is predicted that in the future, all physical products will have a seamless digital twin as the lines between physical and digital will become blurred.

NavVis’ aim is to grow their platform, solidifying their place in the digital twin ecosystem that powers third-party applications such as IoT, AR, and VR. The NavVis digital platform is different from its competitors, as it combines easy access, immersive 3D visualization, and interactivity, fueling team collaboration and delivering insights that will help with decision-making and day-to-day operations.

When Challenge Advisory talked to NavVis co-founder and CEO, Felix Reinshagen, he stated, “The major German automotive manufacturers, who served as early adopters, paved the way for our digital twin technology to transform how enterprises will operate in the future. As a result, we are now experiencing a tremendous surge in demand for our well-established and trail tested platform. Our mission is now to empower every enterprise with the easiest and most powerful way to build and operate their own digital twin to the fullest potential.” Finally, if you would like to find out how the company successfully raised such high levels of funding, you should attend our event on digital twin and its future market size to find out more information.