AI-based digital twin startup SWIM.AI raises $10M in Series B round
SWIM Inc., also known as SWIM.AI, said today it has raised $10 million to push its digital-twin technology.
The Series B round of funding was led by Cambridge Innovation Capital Plc., with a strategic investment from ARM Holdings. Existing investors Silver Creek Ventures and Harris Barton Asset Management also participated in the round.
SWIM, which describes itself as an “edge intelligence” software company, sells a product called SWIM EDX. It’s a software stack for “internet of things” and other devices that combines local data processing and analytics, edge computing and machine learning to deliver real-time business insights from data produced by edge devices.
The software is powered by machine learning and performs reduction, analysis and predictions from sensor data collected locally on edge devices. Uniquely, SWIM’s software also uses the data it gathers from edge devices to create so-called “digital twins,” of real-world devices and systems that can self-learn and predict.
Wikibon analyst James Kobielus describes digital twins as “data constructs that mirror specific physical entities and thereby help to manage them, either through remote connection or through autonomous local operations.”
In the case of SWIM, its self-training digital twins can interoperate in a mesh architecture and support a wide range of autonomous, cooperative and other edge-intelligence scenarios, identify critical events, find hidden patterns, predict future behaviors and autonomously trigger fast actions at individual or multiple coordinated edge devices. SWIM’s software has a variety of use cases in industries ranging from manufacturing to government to smart cities.
SWIM co-founder and Chief Architect Chris Sachs and Chief Technology Officer Simon Crosby appeared on SiliconANGLE Media’s mobile livestreaming studio theCUBE earlier this year, when they spoke about the ability of digital twins to guess what might happen next in a particular scenario, then observe what actually happens and correct its predictions accordingly.
“Whether it’s a … traffic light trying to predict when it’s going to change, when cars are going to show up, when pedestrians are going to push buttons, or it’s a machine, a conveyor belt or a motor in a factory trying to predict when it might break down, you can learn from these … very specific models of how they’re going to evolve, and you can play reality forward,” Sachs said.
Rusty Cumpston, SWIM’s cofounder and chief executive officer, told SiliconANGLE the company will use the new funding to launch a new artificial intelligence research center in Cambridge, England, in order to expand the firm’s analytics and AI capabilities. In addition, the funds would be used to hire additional staff in areas such as engineering, sales and support. He also said to expect additional features.
“New product features include support for more languages, more operating environments, more application domains and tailored support for more specific verticals and development tools,” Cumpston said.
Regarding ARM’s contribution to the latest round, Cumpston said this was significant because the British chip maker “leads the edge computing market” with processors that can monitor and control anything from wind turbines to autonomous vehicles, robots and drones.
“SWIM’s software provides edge data processing, analytics and applications that complements the Arm capabilities,” Cumpston said. “SWIM software works well alongside ARM’s MBed IOT platform capabilities, but it’s not required for SWIM software to be used.”
A message from John Furrier, co-founder of SiliconANGLE:
Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.
We really want to hear from you, and we’re looking forward to seeing you at the event and in theCUBE Club.