GSPV Invests in ThoughtWire's Digital Twin Technology

ThoughtWire, developers of the award-winning Digital Twin Technology platform, today announced the closing of a combined $11.5 million investment with a follow-on potential of a further $9.7 million. ThoughtWire will use the financing to further the Company's development efforts and international growth initiatives using their solutions to make hospitals, buildings and cities safer, secure and sustainable by orchestrating people, workflows, data and things in real-time.

The investment round includes a respected syndicate of current and new investors including Yaletown Partners, BDC Capital, Canadian Business Growth Fund, Greensoil PropTech Ventures and EDC.

"We are proud to have new partners who are invested in our vision and mission to orchestrate a safer, secure and sustainable world, and the enormous opportunity that lies ahead for ThoughtWire," says Michael Monteith, CEO of ThoughtWire. "We're excited to have this opportunity work with our highly respected investors to grow our team and enhance our technology offerings throughout all buildings and cities."

ThoughtWire is on a mission to create Smarter Built Environments by using powerful Digital Twin Technology. Over the past 2 years, ThoughtWire has been receiving worldwide recognition for our Digital Twin platform by analysts from Gartner, Verdantix and many more. Its technology is now being applied across diverse industries to deliver intelligent automation and provide real-time guidance to machines and staff to predict and resolve issues, ensure safety, improve productivity, and achieve energy greater efficiency. 

“Digital Twin Technology is a key component to the rapid changes brought by the digitization of traditional industry, transformations driven by IIoT and AI, and supporting companies to build for climate resilient growth. ThoughtWire has been changing how we think about intelligent automation and process optimization to interconnect and orchestrate people, data and things in real time. We are proud to call them our partners and excited about the company’s very bright future.” - Salil Munjal, Managing Partner at Yaletown Partners. 

“We are proud to support Mike and the ThoughtWire team as they scale their platform internationally and work to create a great Canadian success story.” – George Rossolatos, CEO of the Canadian Business Growth Fund.

"We see great potential in ThoughtWire’s Digital Twin. Their platform technology provides real-time, actionable insights that equips businesses to enhance productivity, improve energy efficiency and optimize operations" commented Tony Van Bommel,  Senior Managing Partner, Industrial, Clean and Energy (ICE) Technology Venture Fund at BDC Capital.“

"ThoughtWire's proven ability to optimize interactions between people and assets within the built environment saves lives, money and resources,” said David Harris Kolada, Managing Partner at Greensoil PropTech Ventures. “Our investment in ThoughtWire’s latest financing round is an excellent example of our strategy to finance best in class teams with technologies that enable the real estate sector to go digital." 

“ThoughtWire is a great example of the innovative Canadian cleantech companies EDC is supporting through our investment matching program,” said Carl Burlock, Executive Vice-President and Chief Business Officer at EDC. “We are looking forward to seeing the company execute on their international growth plans.”