Kongsberg Digital, an industrial software company that claims to shape the future of work by changing how businesses design, operate and maintain their assets, announced on Thursday, June 1, that it has raised $90M (nearly €84.17M) in a fresh round of funding.
Kongsberg Digital (a subsidiary of Kongsberg) is now valued at $540M (approximately €505M).
“Shaping the future of work”
Established in 2016, Kongsberg Digital claims to be the industry leader in the digitalisation of heavy asset industries with a particular focus on the energy, marine, and renewable sectors.
The company provides its users with an end-to-end experience with their industrial data via Industrial Work Surface, a location to plan, carry out, and finish their tasks all inside one unified worksurface.
“We are transforming carbon-intensive industries by providing leading solutions that extract value from industrial data. We enable businesses to connect physical assets to an industrial work surface, serving as one common infrastructure for decision-making across the value chain,” says the company.
Businesses rely on Kongsberg Digital for its advanced technologies in carbon capture and storage, new energy endeavours towards Net-Zero, voyage optimisation, emissions reduction, and balancing grids and complicated power systems.
Shane McArdle, CEO of Kongsberg Digital, says, “As an industrial software company, Kongsberg Digital understands the value of digitalising carbon-intensive industries by deploying new ways of working.”
“This financial support strengthens our ambitions for further growth, positioning us to become a significant global player with our technology and digital solutions for heavy-asset industries.”
“I am very much looking forward to working alongside our new investors as we continue to scale globally and drive positive change in these industries. Our efforts to shape the future of work have been recognised and reinforced by this partnership.”
Investors in this round
The investment came from Shell Ventures and Idékapital. The new ownership structure will help Kongsberg Digital achieve its goal of enabling smarter, safer, and greener operations across industries and on a larger scale.
Geir Håøy, CEO of Kongsberg, says, “Over the past year, Kongsberg Digital has signed several important contracts, confirming the position as the frontrunner in the industry. Recently two major enterprise agreements have been signed with Shell and Chevron to provide digital twins of their global assets portfolio.”
“Today, Kongsberg Digital has gone live with assets across the globe and has more than 40,000 users of our digital solutions.”
“Last year, in June 2022, Kongsberg Digital and MSC, the world’s largest and most extensive container line, signed a contract for digitalising MSC’s entire fleet of ~ 500 vessels. These are just some examples of contracts that confirm Kongsberg Digital’s position as the digital frontrunner.”
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