ThoughtWire is a Toronto-based developer of a Digital Twin Technology platform that enables smarter built environments. Its platform is being applied across industries to deliver intelligent automation and provide real-time guidance to machines and staff. Use cases include predicting and resolving issues, ensuring safety, improving productivity, and increasing energy efficiency. Led by CEO Michael Monteith, the company closed a combined $11.5M funding package with a follow-on potential of $9.7M. Backers include Yaletown Partners, BDC Capital, Canadian Business Growth Fund, Greensoil PropTech Ventures and EDC. ThoughtWire intends to use the proceeds to further product development and support international growth initiatives. ThoughtWire develops Ambiant, an IIoT platform that applies real-time machine intelligence to operations across smart cities, buildings, hospitals and workplaces. The platform was originally utilized in smart healthcare to improve operations, care delivery and the patient experience. For smarter buildings and cities, Ambiant is used to guide proactive maintenance, improve cost and energy efficiency, and deliver a more personalized tenant experience. In manufacturing, the platform is being applied to develop self-optimizing production lines to reduce downtime and prevent component failures. ThoughtWire was founded in 2009, is led by CEO Michael Monteith and is based in Toronto. The company intends to use the new financing to expand its geographic growth.

Total raised

$32M

Funding rounds

3

Latest round

Equity

Latest activity

Aug 2020