Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the energy industry. This time, you get to discover 5 hand-picked startups developing digital twin solutions.
Global Startup Heat Map: 5 Top Digital Twin Solutions
The 5 digital twin startups you will explore below are chosen based on our data-driven startup scouting approach, taking into account factors such as location, founding year, and relevance of technology, among others. This analysis is based on the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering over 1.3 million startups & scaleups globally.
The Global Startup Heat Map below highlights the 5 startups & scaleups developing digital twin solutions our Innovation Researchers curated for this report. Moreover, you get insights into regions that observe a high startup activity and the global geographic distribution of the 136 companies we analyzed for this specific topic.
ROAV7 – Virtual Visits
Virtual tours enable the users to visit the facility and get a full 360-degree view, without ever leaving their home or office. Virtual tours in O&G help petroleum engineers make informed decisions and enable remote operations in refineries, offshore rigs, and pump jacks. They also facilitate safety training for young onsite engineers. Moreover, virtual visits reduce operation time, increase operational safety, and minimize travel-related costs in the refineries.
French startup ROAV7 offers a digital twin solution for the oil and gas industry. The startup’s solution enables virtual visits that offer exhaustive and precise visualization of the facilities at factories, petrochemical sites, offshore platforms, and floating production storage and offloading (FPSO). The startup’s virtual visit tool serves companies to train their teams and carry out maintenance follow-ups. ROAV7 also offers drone inspections, field topography, and timelapse movies.
Cumulus Projects – Digital Workspace
Digital twin workspaces are growing rapidly in the oil and gas (O&G) industry. They enable real-time data processing capabilities with access for all users in a team. In industrial workplaces, digital workplaces allow engineers to perform predictive maintenance and complex simulations in risk-free and virtual environments. In the O&G industry, digital twin workplaces optimize processes and performance by synthesizing operational data and insights in real-time.
Australian scaleup Cumulus Projects offers digital twin workspace solutions deployable as a desktop, mobile, or web app. The scaleup’s digital twin workplace solution helps in sharing knowledge, accessing information, planning, and executing work within teams and across teams. The application is built with various bots for operational purposes that assist teams with tasks and problem-solving. For O&G industry applications, Cumulus offers a spatial web solution that allows viewing systems from an intuitive 3D interface or in virtual and augmented reality (VR/AR).
UrsaLeo – Visualization
Digital twin visualizations combine 3D models from computer-aided design (CAD) software with historical data, and multiphysics and probabilistic simulation. This allows process design engineers to study usage patterns and predict potential failures. Digital twin visualizations help O&G engineers model production site facilities in real-time for remote monitoring and operation.
UrsaLeo is a US-based startup that provides IoT platforms to connect sensors with photorealistic 3D models and enable digital twin visualization. The startup also offers 3D model creation services from scratch using CAD files, scans, and photos. Ursaleo’s pre-built models connect to sensor kits. The startup’s digital twins find applications in industries like agriculture, medical, manufacturing, energy, and building management.
Tardid Technologies – Physics-Based AI
Digital twins, coupled with physics-based AI, are capable of analyzing and interpreting the condition of assets and offer recommendations. Such digital twins have applications in all industries that deal with large machinery. This also includes bot frameworks for predictive and prescriptive analytics. Physics-based AI makes processes in the O&G sector smoother, helping operators and engineers make quick and smart decisions.
Indian startup Tardid Technologies provides Brainbox, a physics-based AI digital twin that links digital artifacts and AI behavioral models like fuzzy logic and natural language processing (NLP). The solution offers advanced analytics and automation for industrial processes. In O&G operations, Brainbox finds applications in monitoring and predicting the failures in offshore structures, pipelines, wells, and refinery installations.
TwinThread – Predictive Operations
Predictive operations platforms gather data from sensors in various field installations and integrate it using AI and machine learning. They enable engineers to learn quickly from data and offer preventive and predictive maintenance solutions. Predictive operation platforms enable granular part visualizations, allowing the operational team to predict problems before they lead to a failure. In industries like oil and gas, predictive operational platforms find applications across upstream midstream and downstream operations. These solutions improve safety, extend the life of installations, and reduce costs associated with operations and maintenance.
TwinThread is a US-based startup that offers a cloud-based predictive operations platform. The platform collects and delivers real-time data of processes and equipment. The startup’s platform offers data modeling, analytics, and visualization to enable process engineers to solve operational problems easily. This results in greater operational efficiency, performance, and optimized key performance indicators (KPIs).
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