NEWTWEN, 7 million euro round for startups enabling the Digital Twins

NEWTWEN 7 million euro round for startups enabling the Digital

(Tiper Stock Exchange) – NEWTWENPaduan deep tech startup, has closed a €7m Series A funding round. The round is led by the European venture capital firm 360 Capitalwith the participation of all current investors and with the entry of Join Capital, an international industrial software fund based in Berlin. The company received the first investments from Vertis SGR in 2020 and from CDP Venture Capital SGR (through the Acceleratori fund) together with Plug and Play Tech Center who co-invested in 2021 through the Motor Valley Accelerator.

The company has developed technology to improve the efficiency of electric motors, inverters and lithium batteries. In particular, he developed a software platform that generates highly accurate virtual replicas of physical systemsand that is able to directly integrate these Digital Twins within the systems themselves to improve performance, longevity and reliability, without any need to add new electronic hardware components.

NEWTWEN, founded in 2020 as spin-off of the University of Paduaexplained that the new financing is aimed at expanding the sales network on the European market and at the continuous development of technology and products, especially the industrial software platform for the automatic generation of Digital Twins.

“NEWTWEN’s Digital Twins are physics-based and directly embeddable on device microcontrollers and therefore represent a breakthrough in model-based control, especially for high power density applications, such as electric traction systems,” he commented. Francesco Toso, CEO and co-founder – NEWTWEN is working hard to give everyone the opportunity to reap the benefits of our Digital Twin on Chip technology, especially to designers and manufacturers but also end users, not only in the automotive sector but also in all other fundamental sectors and fields of application for the electric transition“.