Slingshot Simulations secures £1.5m seed funding from Mercia and the Future Fund to scale operations.
The digital twin pioneer raised the capital from existing backer Mercia and the government Future Fund to prepare for commercial launch.
Slingshot Simulations provides digital twin and decision intelligence software to help organisations model complex data. The company emerged as a spinout from the University of Leeds.
Slingshot Simulations has secured £1.5m in a seed round supported by Mercia and the Future Fund as it prepares to roll out its software commercially. The capital will be deployed to scale operations ahead of onboarding early users next month. The Leeds based company provides digital twin technology that allows firms to model physical environments and test operational scenarios.
The enterprise has already drawn interest from approximately 100 potential clients internationally, spanning construction and local government. Chief executive David McKee notes that the financing brings the firm closer to its goal of broadening access to simulation tools beyond large corporations. Existing backer Mercia participated via the Northern Powerhouse Investment Fund alongside government backing.
Investor perspective
"David and his team have won international recognition for their work and their platform opens up new possibilities for businesses in areas such as construction, transport and logistics, product development and manufacturing. We are pleased to be able to fund them once again to help them launch their product into the market."
Will Clark
Mercia
Use of funds
- 01Scale operations
Investors
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About the company
Slingshot Simulations
Digital twin and decision intelligence software provider.