In the beginning were data. Increasing amounts of data. But what good is a storehouse filled with data? Especially when you have to build additional storehouses to hold more data?
We all know that this is just a hole to throw good money into unless we can reap benefits from the data.
John Burton, CEO of Ursa Leo, recently gave some time to me to explain what this new company is up to. And it’s pretty cool. It begins with data formed into a digital twin of the factory, oil rig, equipment, and the like. But they asked how can company managers and operators reap benefits from their data? The company began by focusing on visual representations of the data. It hired engineers from the gaming industry to show photo realistic reproductions of the plant, equipment, building, and so on. Think things like Augmented Reality and Virtual Reality brought to life by the latest in gaming technology.
They develop on the Unity gaming engine that is designed to run on just about anything (derivative of gaming industry). So, for example, you can get a bird’s eye view of the factory. Show sensors perhaps as green dots. Zoom in to see sensors; zoom in again for ever greater levels of detail including sensor data. It is a simple screen showing IoT data from sensors and asset data bases. It’s spatially related. The model resides in the cloud, so the same view and information is available to everyone making it great for remote maintenance support, for example, also training and remote control.
Visualization includes x-ray vision, rewind/replay events, “make pieces of equipment fly apart, visualize fluid flow, heat maps (like temperature of gas for example).
Recently, the company announced that it has closed its Seed Round B and raised $725K. The round was led by Keiretsu Forum and Bay Angels with additional private investors. As UrsaLeo continues to grow, the money will be used to expand operations into manufacturing and building management, further product development with collaboration and remote control modes, and enhance the company’s new social distancing technology.
With the closing of the Seed B, the company also announced the hiring of Michael Uribe and Alina Verdiyan as Senior Vice Presidents. Michael will lead the Building Information Management Division and work with developers and building operators to bring cutting edge 3D technology to public spaces. Alina will lead the Manufacturing Division and have worldwide responsibility for dedicated sales, marketing, and operations.
“The UrsaLeo team and traction they’ve achieved with early customers signals an opportunity for rapid growth in valuation,” said Chandika Mendis of Bay Angels. “With the adoption of social distancing technology and digital twinning, one of the hottest sectors at the moment, enterprise software that helps to simplify problem solving in challenging times is an attractive investment. We look forward to tracking their success.”