DataMesh, a digital twin platform provider, completed a B1 round of nearly RMB 100 million funding. This round of financing was led by Cornerstone Fund (a venture capital platform of Beijing Infrastructure Investment Corporation) and followed by Lenovo Capital and Incubator Group and other institutions. eCapital acted as the exclusive financial advisor in the transaction. The successful closing of this transaction marks the full recognition of standardized software companies in the digital twin space by the capital market.
Founded in Seattle, DataMesh is a high-tech company focused on digital twin platform technology. The company’s philosophy is to use digital twin technology to help ordinary people become experts, improve the capabilities of frontline personnel and optimize the productivity structure of society. DataMesh Digital Twin platform can quickly connect CAD/BIM/IoT and knowledge data, combine with mixed reality technology (XR/MR), create industrial and construction scenarios in the Enterprise Metaverse. The apps can realize the last mile of data-to-people cost reduction and efficiency for enterprises.
Unlike many solution integrators, DataMesh’s digital twin platform provides native data security assurance and stable product sustain engineering services. The platform also supports multi-person remote collaboration in the cloud, adapts to various display devices and AR glasses, and is expected to grow into a standard application platform for frontline personnel in the digital twin era.
DataMesh digital twin platform has been widely used in discrete manufacturing, building construction, operation and maintenance industries, supporting training, inspection, maintenance, assembly, construction, supervision, and other scenarios. DataMesh took an international approach to product development from the beginning. The SaaS services have been adopted by dozens of manufacturing and construction companies in Japan, Singapore, and Australia.
The digital twin originated in the field of manufacturing industry, summarized by NASA, and its development has undergone decades of rounds of changes as technology continues to advance. Gradually expanding from professionals-only in the past to frontline applications, digital twins have begun to expand from industrial design simulation and manufacturing to diverse industries such as operation training, smart construction, and smart cities. The new generation of digital twin applications focuses more on improving production efficiency, optimizing decision paths, cross-regional support, and real-time command and dispatch, thus bringing social values of energy-saving and emission reduction, employment enhancement, risk prevention, and productivity optimization.
Jie Li, founder and CEO of DataMesh, said: “We firmly believe that the digital twin is ultimately for the people. To make the digital twin available to everyone everywhere, enhance everyone’s capabilities, and benefit the 400 million industrial workers in China and 2 billion worldwide, we need to build solid foundations, eventually create an authentic enterprise metaverse.”
Shaobo Qin, the Managing Partner of Cornerstone Ventures, said: In order to implement the strategy of manufacturing power, the country is accelerating the integration and development of new-generation information technology and manufacturing technology to comprehensively improve the intelligence level of enterprise R&D, production, management, and service, which is a historical opportunity brought by the technological revolution and the reshaping of the global industrial landscape. DataMesh is committed to providing useful, usable, and easy-to-use digital twin products for frontline employees in the manufacturing industry to comprehensively improve the intelligence level of enterprises, and has been proven in multiple industries and scenarios with remarkable results. Cornerstone Venture Capital is the only venture capital platform under Beijing Infrastructure Investment Company Limited (“BII”), which relies on its strong manufacturing and information technology industry background to discover and layout early-stage technology enterprises. The company will help DataMesh expand digital twin technology from manufacturing and construction to more areas of infrastructure construction, thus promoting industrial digital transformation in related fields.
Zhiqiang He, Senior Vice President of Lenovo Group and President of Lenovo Capital and Incubator Group, said: DataMesh is the pioneer of Digital Twin+XR technology and has built the leading digital twin PaaS and SaaS platform in China, the product realizes zero code and can be collaborated, significantly reducing the difficulty of use, and has been widely used in the fields of after-sales, training and construction; the team has a high international vision, and has expanded rapidly and commercialized significantly in the past year. Lenovo has been investing in the smart industry track for a long time. We will help DataMesh become the new infrastructure in the field of industrial digital twin with the industrial advantages of Lenovo Group, and promote the digital and intelligent transformation of various industries such as manufacturing, energy, and Smart City.