IoT News

DataMesh Sscures funding from KDDI and Singtel Innov8

June 17, 2024

Posted by: Magda Dabrowska

Closeup shot of a businessman's hands counting stacks of coins after business success

Image by wirestock on Freepik

DataMesh, a company focused on Industrial Metaverse platforms, hs announced the closure of a new funding round, joined by KDDI Open Innovation Fund 3, the corporate venture capital fund of the KDDI, Singtel Innov8, the corporate venture capital fund of Singtel, along with funds having business partnerships with DataMesh. The funds raised will expedite the research snd development efforts and market expansion of DataMesh’s Industrial Metaverse platform, further driving digital transformation across the industrial sector, particularly through the application of XR and digital twin technologies.

Committed to building the Industrial Metaverse platform FactVerse, DataMesh offers integrated virtual and physical solutions to enterprises by using digital twins, XR (extended reality), artificial intelligence (AI) and the Internet of Things (IoT) technologies. The platform empowers enterprises to digitise the management of factories, optimise production processes, improve operational efficiency and introduce innovative applications for remote collaboration, training and maintenance scenarios.

Designed to empower frontline workers, DataMesh’s XR applications can overlay digital twin models onto real-world scenarios using AR/VR technologies, assisting workers in understanding equipment and operations more intuitively, fostering remote collaboration and training and boosting both efficiency and safety.

Moreover, the FactVerse platform serves as a robust digital twin hub, breaking down barriers between industrial data and business applications for interconnectedness and data sharing. This equips enterprises with comprehensive, in-depth insights for informed decision-making. Currently, DataMesh FactVerse has been widely applied in industries such as manufacturing, aviation, AEC (architecture, engineering, and construction), data centre and facility management, helping organisations elevate digital transformation strategies and drive enterprise innovation.

“We are thrilled to have investors like KDDI joining us, and we appreciate the continuous support from Singtel Innov8,” said Jie Li, the founder and CEO of DataMesh. “Their extensive industry expertise and resources will significantly bolster DataMesh’s growth. Together, we look forward to working closely to drive the application and adoption of the Industrial Metaverse platform, empowering industrial enterprises globally to accelerate digital transformation.”

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