Digital twin startup Resonai Inc. announced that it has closed on a US$20 million extension to its Series A round of funding, bringing the total amount raised to US$30 million.
New investors, including Meitav-Dash, Blue Square Israel and Irani Ventures, all participated in the round, as did existing backers SBI, Vive Nevo and Redds Capital.
Resonai is the creator of the Vera platform, which uses artificial intelligence and augmented reality technology to convert physical spaces into intelligent digital environments that enable more immersive, real-world experiences.
Using the Vera platform, a theater space, retail setting, a spacious apartment or any other kind of building can be scanned and sent to Vera’s AR cloud to create a highly accurate 3D digital twin. This virtual space then becomes available via the cloud and is connected to Vera operated apps and mobile devices. That allows AR experiences to use highly accurate location information about the space and deploy visual and audio cues with high fidelity.
Resonai says its digital twins can be thought of as an “operating system” that powers a wide range of applications aimed at improving a building’s operations or provide engaging experiences for consumers. For example, building operators might use Vera to launch an innovative AR experience such as a digital concierge service, where visitors can be guided through a building.
In one example that was showcased at the 2020 Consumer Electronics Show, Resonai demonstrated an AR-powered role-playing game that takes place within a physical building. By scanning the space, the game became more “aware” of its surroundings. Because Resonai scans the space first and creates a digital twin, it can overlay 3D virtual objects in a room with much greater precision.
The startup’s technology can power other use cases too. For instance, property managers can create digital twins of their buildings and visualize and interact with them from any location at any time. That means they can more efficiently control “internet of things” devices, for example, leveraging the integrated data to do a better job of managing energy usage, identifying maintenance issues, enhancing the security of the building, and much more. As another possibility, Resonai said, Vera can be used to launch AR training programs for employees who will be working in a building.
Resonai founder and Chief Executive Emil Alon said his company’s technology can help commercial real estate owners and operators to generate new revenue models.
“Our mission is to cultivate a new kind of built environment that can thrive in this rapidly changing world,” Alon said. “We do this by empowering commercial real estate owners and operators to transform their physical properties into operationally efficient, intelligent digital assets that enable innovative experiences and create new data-driven revenue models.”
Resonai said the money from today’s round will be used to fund the ongoing development and expansion of the Vera platform and scale its sales and marketing teams. To date, it has already established partnerships with multiple real estate operators and construction firms around the world, and it aims to grow its presence throughout the U.S., Asia and Europe.
“Since first learning about Resonai and its Vera platform, we have been impressed by its potential to completely reimagine both the visitor experience and operations management at a wide range of commercial spaces, from malls and large entertainment venues to office buildings and hospitals,” said Irani Ventures CEO Amir Rosen. “We’re proud to back Resonai as they continue to expand the Vera platform and enter an exciting new growth phase in the months and years ahead.”