Digital twins are virtual replicas of physical assets, processes, or systems. They find use in a range of industries from manufacturing and automotive to healthcare and drug discovery, to improve efficiency, reduce costs, and enhance decision-making. The technology uses real-time data and advanced analytics to create a digital model that mimics the behavior and performance of the physical asset or process. This allows companies to simulate different scenarios, test and optimize designs, and identify potential issues before they occur. Digital twins are also used to monitor and analyze real-world performance. Thus, providing insights that allow stakeholders to improve operations and maintenance activities. The use of digital twins is revolutionizing the way companies design, operate, and optimize their assets and processes, benefitting them in terms of productivity, quality, and sustainability. Explore 20 emerging digital twin startups advancing innovations in 2024 and beyond!
20 Digital Twin Startups to Watch in 2024
- Vaullti – Lean Tracing Technology
- Heartnet – Supply Chain Visibility
- VividGrd – Energy Trading
- Carbontribe – Emission Reduction Data
- OneTwenty – Glycemic Control
- Blynksolve – Complex Drug Substance Manufacturing
- Automageo – Predictive Visual Management
- Acolyte Health – Patient Engagement
- DREX – Real-time Solar Energy Tracking
- Enreport – Energy Optimization
- cmBuilder.io – Construction Monitoring
- DupliPlant – Crop Digital Twins
- Intemic – Production Optimization
- Sympheny – Energy Planning
- ETELIER – Virtual Try-Ons
- NEWTWEN – Automotive Components Digital Twins
- AIBODY – Human Digital Twin
- Unikbase – Digital Twin-based Ownership
- Novacene – Building Health Management
- Andorean – Mine Visualization
Global Startup Heat Map highlights 20 Digital Twin Startups to Watch in 2024
Through the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering over 4 760 120+ startups & scaleups globally, we identified 781 digital twin startups. The Global Startup Heat Map below highlights the 20 digital twin startups you should watch in 2024 as well as the geo-distribution of all 781 startups & scaleups we analyzed for this research. Based on the heat map, we see high startup activity in Western Europe, followed by the US and India. These digital twin startups work on solutions ranging from construction management and production optimization to human digital twins and virtual try-ons.
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As the world’s largest resource for data on emerging companies, the SaaS platform enables you to identify relevant technologies and industry trends quickly & exhaustively. Based on the data from the platform, the Top 5 Digital Twin Startup Hubs are in London, New York City, Singapore, Berlin & Bangalore. The 20 hand-picked startups highlighted in this report are chosen from all over the world and develop solutions for process and asset visualization, real-time process monitoring, predictive maintenance, and more.
Explore 20 Digital Twin Startups to Watch (2024)
Vaullti uses Lean Tracing Technology
US-based startup Vaullti offers protection for intellectual property, specifically targeting the security of digital twins like 3D models. It recognizes the financial and brand risks associated with IP theft and embeds a 15-byte fingerprint identifier into the digital assets.
The startup’s lean tracing technology then locates these digital twins across the internet and locks down unauthorized usage, ensuring secure distribution. Vaullti also provides digital rights management (DRM) solutions and fortifies the digital twins through its expansive repository.
Heartnet enhances Supply Chain Visibility
Finnish startup Heartnet addresses the critical issue of falsified medicines, which cause adverse health effects and numerous deaths annually. The startup integrates electromagnetic protocol with digital twins to differentiate authentic drugs from counterfeits. The technology assists pharmaceutical companies comply with mandatory track-and-trace regulatory requirements and enhances supply chain visibility for stakeholders in the pharmaceutical industry.
VividGrd simplifies Energy Trading
US-based startup VividGrd utilizes a hyper-scalable power monitoring digital twin. It enables real-time optimization and alerts through continuous AI analysis. Further, the digital twin identifies upgrade opportunities and energy trading potentials while monitoring network health for anomalies.
Additionally, the digital twin allows control of energy assets for improved efficiency and market responsiveness. It leverages on-site renewables for local use or market export based on historical learning and configurable settings. The technology supports informed procurement with interactive tools providing clear insights on system metrics like stability and ROI.
Carbontribe provides Emission Reduction Data
Estonian startup Carbontribe offers an AI-driven digital twin that accurately predicts the CO2 reduction potential of the land using satellite and biodiversity data. Its tech enables landowners to mint tokens based on their land’s emission-reduction capabilities. This approach incentivizes forest retention over deforestation, allowing landowners to earn revenue through tokens while preserving biodiversity and nature.
Additionally, the startup issues certificates that companies use to offset their carbon emissions, aligning with their environmental, social, and governance (ESG) goals. The platform also ensures the prevention of double registration in voluntary carbon markets. This offers a traceable and valuable contribution to nature conservation and carbon offsetting efforts.
OneTwenty offers Glycemic Control Technology
Swiss startup OneTwenty provides BioX, a diabetes technology. It enhances the intelligence of insulin pumps, smart pens, and medical devices, making diabetes management smarter and more reliable. The startup provides 3 applications – bioX neoAP, a closed-loop automatic insulin delivery (LCL-AID) system, bioX DT, a digital twin engine, and bioX sensAI, a sensor optimization solution, to translate raw sensor data into the target biomarker.
The startup’s bioX’s DT model automatically generates a digital twin for each user. It utilizes personalized health data streams to predict specific biomarkers, patient-reported outcomes (PROs), and health-related events. This technology empowers individuals to gain insights into their metabolism and understand the impact of their lifestyle choices.
Blynksolve simplifies Complex Drug Substance Manufacturing
Irish startup Blynksolve offers Digital Knowledge Twin platform that simplifies DS manufacturing with features like step-by-step process visualization, context management, and secure, flexible web-based access. The tool enhances tech transfer, process design, operational readiness, and quality risk assessments, including hazard and operability analysis (HAZOP) and failure mode and effects analysis (FMEA).
Additionally, the startup offers DS process mapping services, creating detailed, contextual process maps for pharmaceutical manufacturing. Thus, it provides integration and collaboration across various functions within the industry.
Automageo offers Predictive Visual Management Platform
Brazilian startup Automageo’s predictive digital twin platform offers a suite of solutions for big data applications across various sectors. The Twin-City Platform creates and updates virtual replicas of municipal areas, serving both public and private sectors, including smart cities and civil construction. The Twin-Power Platform focuses on the digital twin creation for entire electrical grids, while the Twin-Tower Platform updates digital twins of telecom structures.
The startup also develops digital twin platforms for companies with distributed assets as well as the logistics, mining, agriculture, and infrastructure sectors. These platforms allow digital twins of the electrical grid, power generation facilities, electronic equipment, and metallic structures.
Acolyte Health increases Patient Engagement
US-based startup Acolyte Health produces automated interactive video content incorporating the caregiver’s digital twin. These videos deliver highly effective instructional messages, prompting action from viewers. They are available in multiple languages and cater to patients who may struggle to comprehend their treatment plans or require assistance preparing for upcoming visits.
DREX aids Real-time Solar Energy Tracking
Ecuador-based DREX uses a combination of internet of things (IoT) and distributed ledger technology (DLT) digital twin utility token that tracks real-time solar energy generation upon installation. Thus, it adds more transparency to green financial products. Corporations using this hyper-locally produced energy pay monthly bills via a smart contract managed by a special purpose vehicle (SPV), which then distributes returns to investors, streamlining and securing the investment process in renewable energy projects.
DREX connects investors with small-to-medium solar project portfolios, enhancing green energy financing in emerging markets. The platform facilitates the connection between solar developers and investors, raising capital for solar installations on company rooftops in these markets.
Enreport simplifies Energy Optimization
Finnish startup Enreport utilizes predictive analytics and digital twin to optimize energy demand and supply, and assists in the selection and ordering of equipment. Utilizing digital twins, production plans, and real-time weather data, the startup’s forecasting models provide more accuracy.
Enreport offers precision energy forecasting, advancing how industries manage their energy resources. Its solution ensures close alignment of energy consumption with actual demand, optimizing efficiency. The integration of technology enables predictable energy consumption and pricing, streamlining the energy management process.
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cmBuilder.io simplifies Construction Monitoring
Canadian startup cmBuilder.io offers a web platform that enables construction professionals to create and share 4D site logistics plans with ease and efficiency. The platform enables construction teams to generate a 3D digital twin of their site, upload BIM models, and use massing tools to visualize projects. This allows them to simulate the entire construction process with accurate sequencing.
cmBuilder.io also allows construction teams to collaborate in real time with their project teams, clients, subcontractors, and city officials. Further, the platform enables fast 3D and 4D site logistics modeling, excavation modeling, and 3D parametric modeling of temporary resources. The startup thus allows construction managers to automate manual tasks and simplify traditional site logistics planning workflows while saving time and money.
DupliPlant offers Crop Digital Twins
Hungarian startup DupliPlant provides a machine learning service that helps controlled environment agriculture (CEA) farmers and indoor home growers. By collecting crop-specific data and creating digital twins of plants, the startup simulates different environmental factors. On the basis of this, it provides real-time recommendations for adjusting the growth parameters.
Farmers also use DupliPlant’s digital twins as a virtual test environment, enabling them to design more efficient and resilient solutions for CEA. This improves resource efficiency and achieves cost parity while supporting the transition to healthy and local food for a minimal ecological footprint.
Intemic aids Production Optimization
Intemic is a Spanish startup that makes a data-driven platform that digitizes and optimizes production operations and processes. It allows manufacturers to create digital twins of manufacturing equipment and simulate its performance in different operating environments, reducing the need for physical testing. The platform utilizes AI and simulation models to understand, predict, and make decisions by correlating data from production, quality control, and logistics.
It also enables manufacturers to predict failures, breakdowns, and bad batches, allowing for predictive maintenance. By digitizing their operations, Intemic allows manufacturers to better understand their processes, optimize production, improve quality control, and reduce costs.
Sympheny facilitates Energy Planning
Swiss startup Sympheny delivers digital twin-based energy planning services. The startup’s platform allows energy providers to design and optimize energy supply solutions for buildings and districts. It leverages digital twins and machine learning algorithms to automatically find the best energy system designs and operations. The platform thus enables the design of an optimal energy supply solution for any site.
Sympheny also provides interactive dashboards that allow energy providers to receive detailed insights into these optimal solutions. This enables energy companies to achieve their sustainability objectives while minimizing cost, time, and resources in energy planning.
ETELIER offers Virtual Try-Ons
ETELIER is a US-based fashion-tech startup that provides remote 3D digital body scanning for eCommerce platforms. Using digital twinning, the startup’s solution translates video from smartphone cameras into volumetric assets from every angle. This enables fashion brands and retailers to create accurate and transportable digital body mapping.
Brands integrate this into their eCommerce websites and portals for customers to use augmented reality (AR) for virtual try-on and fit analysis during purchases. This eliminates the need for manual measurements and increases the chances of purchase.
NEWTWEN makes Automotive Components Digital Twins
Italian startup NEWTWEN makes software for constructing digital twins for electromechanical and electronic components of electric powertrains. It utilizes proprietary algorithms to create accurate and compressed digital twins that run in real-time on embedded chips. The digital twins estimate temperatures, torques, powers, and other critical parameters in locations where direct sensor measurements are not possible.
This enables optimal thermal management, fault identification, predictive maintenance, and performance improvement for electric powertrain systems. As a result, NEWTWEN’s software allows automotive manufacturers to enhance their hardware systems with optimal thermal management. This improves efficiency and lowers maintenance costs.
AIBODY creates a Human Digital Twin
AIBODY is a UK-based startup that provides Luke, a human digital twin. It is built from the subcellular level and simulates normal and abnormal physiology, treatment options, and patient outcomes. AIBODY also uses its proprietary cloud architecture that enables physiology-as-a-service functionality.
The startup integrates Luke into web platforms, mobile applications, and AR portals. Thus, delivering better clinical decision support and accelerating medical training. AIBODY’s technology enables healthcare and pharmaceutical companies to observe normal physiology in detail, simulate any medical condition virtually, and test treatment options without risk.
Unikbase provides Digital Twin-based Ownership
French startup Unikbase creates digital twins of real-life valuables, such as art objects, watches, handbags, and more. The startup provides a 3D scan of the object and also bundles relevant data such as photos, invoices, proof of authenticity, and condition reports. It then hosts the digital twin on a private and secure blockchain-based folder that owners share with any third party as needed, providing proof of ownership and authenticity.
Unikbase also tags the object with an invisible and indelible marking. This allows for identification and authentication in case of theft or resale. Further, the startup updates the digital twin of an item throughout its lifecycle and transfers it to a new owner if the item is sold. This provides a simple authentication solution for insurers, auction houses, marketplaces, and other professionals who deal with valuable objects.
Novacene improves Building Health Management
Novacene is a UK-based startup that offers a building health platform. It enables property owners and managers to monitor and optimize their buildings’ performance, energy efficiency, and environmental impact. The platform utilizes existing data from floor plans and BIM to create a digital twin of the building. It also collects data from sensors, meters, and other available sources, and uses machine learning.
This provides actionable insights to improve building performance. The platform helps property owners and managers to measure and improve their environmental, social, and governance (ESG) scores. This is increasingly important for attracting investors and tenants.
Andorean simplifies Mine Visualization
Mongolian startup Andorean develops a digital twin platform for the mining industry. It leverages point clouds, light detection and ranging (LiDAR) data, and 3D models of the terrain. This creates detailed and interactive digital twins of mine sites. The platform also uses geographic information systems (GIS) and environmental data to aid data-driven decision-making, scenario simulations, and environmental monitoring.
Further, the GIS data from environmental sensors and aerial/satellite images also enables the creation of high-resolution map dashboards. This allows for continuous monitoring of essential geographical and environmental characteristics. Consequently, Andorean’s scalable platform reduces information loss, improves coherency, and enhances operational efficiency and sustainability in mining operations.
Discover All Emerging Industry 4.0 Startups
The Industry 4.0 startups showcased in this report are only a small sample of all startups we identified through our data-driven startup scouting approach. Download our free Industry 4.0 Innovation Report for a broad overview of the industry or get in touch for quick & exhaustive research on the latest technologies & emerging solutions that will impact your company in 2024!
