Service: IT Due Diligence
Industry: Data Intelligence
Participants: Northern Gritstone, Slingshot Simulations
Intechnica provided IT Due Diligence to Northern Gritstone ahead of their recent investment in Slingshot Simulations.
Slingshot Simulations, a spinout from the University of Leeds was founded in 2019 by Dr David McKee. The digital twin market is one of the fastest-growing technology markets, with a CAGR of 58%. The company aims to contribute to the growth of the market by building on two decades of extensive experience in researching and developing large-scale modelling, simulation and data science. Slingshot Simulations works with a number of large companies, including Land Rover and Rolls Royce.
The investment from Northern Gritstone will enable Slingshot Simulations to accelerate development and expand the customer base of its Compass: Engine Saas platform to the SME market, alongside supporting organisations driving the sustainability agenda.
Thanks to Oliver Burnill, David Bamber and Fran Hoey for their hard work on this project.
As the digital twin market continues to expand, Slingshot Simulations’ ambition to produce this technology for a wider range of businesses can accelerate the sector’s development. The company’s ground-breaking approach is representative of the thriving innovation in the north of England that Northern Gritstone was created to support. Slingshot Simulations, which marks our first Leeds-based investment, is an excellent example of Northern Gritstone’s investment approach and we look forward to supporting its continued growth journey.
Duncan Johnson, Chief Executive at Northern Gritstone.
We’re really excited to be backed by the Northern Gritstone team and continue to have the support of Mercia and the Northern Powerhouse Investment Fund. With this new funding we can realise our vision more quickly – enabling anyone, anywhere to access the power of digital twins and decision intelligence and make a quantifiable difference to some of the biggest challenges we face today. 2023 will be an exciting year as we accelerate the release of cutting-edge capabilities on this journey.
Dr David McKee, Founder and CEO of Slingshot Simulations.
