Slingshot Simulations builds a SaaS digital twin and decision intelligence platform called Compass: Engine that uses spatial big data to underpin large digital twin models. The company commercialises University of Leeds alumnus David McKee's research and initially targets organisations seeking sustainability-themed digital twins, with a focus on SMEs. Its product is marketed as a SaaS platform and the business plans to scale platforms for decarbonised future mobility and regional net zero strategic planning. Slingshot participates in global knowledge sharing through the Digital Twin Consortium, where McKee is a co-chair, and the UK's Centre for Digital Built Britain. The new funding will allow Slingshot to pursue business for its lead platform, Compass: Engine, and accelerate the release of new capabilities. Mercia previously led two earlier funding rounds for the company via its Northern Powerhouse Investment Fund vehicle and its EIS venture funds. Slingshot Simulations develops digital twin technology that lets businesses create virtual models of objects or locations to test operational changes, such as building layouts to reduce COVID-19 infections or cost-effective delivery routes. Its system is being used in a government-backed trial exploring ways to reduce traffic congestion and air pollution in Leeds, York and Hull, a project described as one of the biggest digital twin projects of its type. The company has attracted interest from around 100 potential customers, including construction firms and local authorities from as far afield as Canada and the US. Led by CEO Dr David McKee, who sits on the Digital Twin Consortium board, Slingshot plans to use the funds to scale operations and prepare to roll out its system to its first commercial customers. The company will begin deployment from February and intends to onboard small batches of new users at a time. The recent funding is positioned to support that commercial rollout and operational scaling.

Total raised

$6M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2023