Akselos Delivers On The Promise Of Digital Twins For Industrial Assets

This report forms one in a series covering the digital twin software market which is beginning to gain traction as a new category of technology investment. One of the more innovative startups in this space is Akselos. The firm was founded in 2012 and launched its product in 2018. Akselos has raised more than $12 million in funding from public and private sources to build a digital twin platform based on the patented Reduced Basis Finite Element Analysis (RB-FEA) algorithm. Akselos claims that RB-FEA scales better than traditional FEA, enabling the creation of digital twins for larger assets. Akselos targets the upstream energy and offshore wind industries, particularly firms looking to safely keep aging equipment in the field longer by getting ahead of maintenance issues before they become major problems. Verdantix recommends that customers in these industries that are looking to embrace  Industry 4.0 practices should test out the Akselos digital twin.