innogy Venture invests in ‘digital twin’ pioneer Akselos

innogy Ventures has invested in Akselos, a digital tech company that specializes in creating ‘digital twins’ to improve the sustainability of large mechanical assets. The $10 million financing round was led by innogy Ventures, with Shell Ventures as Co-Investor.

Headquartered in Switzerland with operations in Europe, US and SE Asia, Akselos developed its technology over 15 years at MIT, with further refinement at the Swiss Federal Institute of Technology. Its solution for modelling large-scale assets is 1,000 times faster and more accurate than the industry standard. As well as providing operators with real time access to the condition of an asset - anywhere, any time - it also provides analytics to enable predictive maintenance.

The new finance will be used to further invest in structural analysis software, big data analytics and machine learning.

The investment is a huge vote of confidence from two of the world’s most progressive and innovative energy companies. We look forward to working closely with both innogy and Shell and taking advantage of the unrivalled expertise available to us as we continue to pursue our vision and develop our technology.

Thomas Leurent, Akselos co-founder and CEO

Akselos has a fantastic, highly skilled team with extraordinary market understanding. Their unrivalled expertise in simulation technology has led them to commercialize something that has overcome the limitations of the current industry solution. We are very happy to be part of the Akselos story at such an exciting time for the company. Having successfully developed ground-breaking technology and having built an impressive customer base, Akselos is now in a position to focus on growth and continue working towards digital transformation in the energy sector and beyond.

Felix Krause, Investment Partner for innogy Ventures

About Akselos

Akselos is a digital technology company headquartered in Switzerland, with operations in Europe, the USA and South East Asia. The company has created the world’s fastest and most advanced engineering simulation technology, the predictive digital twin, to protect the world’s critical infrastructure. The MIT-licensed technology has the power to revolutionise how we build and manage our large-scale assets, allowing operators to not only monitor an asset’s condition in real time, but also use analytics for predictive maintenance.

For more information, go to www.akselos.com