Simsysglobal Secures 3 Billion KRW to Lead Digital Twin Technology Expansion
Reading Time: 2 minutesSimsysglobal, a Korean startup specializing in digital twins, has secured 3 billion KRW in Series A funding. Hana Securities and iTrust Asset Management participated in this investment. Additionally, Simsysglobal has been selected as an ‘IP-Value Promising Company’ by the Korea Technology Finance Corporation, confirming support of 1.1 billion KRW in excellent intellectual property (IP) value-plus guarantees, bringing the total funds secured to 4.1 billion KRW.
Digital twins are cutting-edge technology that replicates physical objects like real spaces or production facilities in digital space, enabling real-time monitoring and simulation. Based on these simulations, predictions and decisions can be made. This technology is actively being introduced in manufacturing, defense, healthcare, smart cities, and more.
Simsysglobal is an innovative technology company leading the popularization of digital twins with its ‘SmartSpace’ service, which allows anyone to easily create three-dimensional virtual worlds. The company not only developed its own digital twin technology based on a 3D engine but also holds numerous original technology patents for the highly sophisticated ‘Cognitive Digital Twins’ that optimize through self-learning.
Simsysglobal has implemented digital twin-based control systems at various domestic ports, including Incheon International Airport and Incheon Port, and developed a smart building platform with Samsung C&T. As a noted leader in smart defense, smart cities, smart buildings, and smart spaces, Simsysglobal has achieved rapid growth of over 150% annually since beginning operations in 2019.
With the funds secured from this investment, SimsysGlobal plans to further enhance its core technologies and expand its business. They aim to build an extensive Simsys network with major companies and specialized institutions in various fields, leading the era of digital twin popularization in Korea and actively pursuing overseas exports.
A representative from iTrust Asset Management said, “The era of digital twin technology being utilized across various industries, public sectors, and defense has begun. Simsysglobal is a domestic digital twin company currently generating significant revenue, and we expect substantial growth in the future.”
Kim Yoon-je, CEO of Simsysglobal, stated, “Our independently developed Simsys digital twin technology is a cutting-edge innovation that incorporates years of accumulated technical know-how and patents. It has been recognized for its unparalleled performance when applied to control systems in areas such as smart cities. Based on our differentiated technology and business model, we will expand our business scope and establish ourselves as a leading digital twin company in the global market.”
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