Trendspek Closes Seed Investment Round
Amongst the chaos of COVID-19, Sydney tech start-up Trendspek is providing a vital lifeline to companies that manage critical infrastructure as they are forced to rapidly move their operations online.
Sydney based Trendspek is the global leader in software that transforms drone data into an exact 3D digital twin of infrastructure assets including warehouses, telco-towers, rail, gas plants that require inspection. Trendspek’s SaaS platform allows asset managers to inspect, plan, collaborate, and monitor trends without leaving their home or office.
The Australian tech startup is growing rapidly and has just raised over $1.1M in seed funding led by the Sydney Angels investment group. Digital Twins are becoming a necessity in today’s environment, with many requiring remote access to asset information. Co-founder and CEO Derek Feebrey says “The big difference is that a Trendspek digital model is highly detailed, consistent and easy to use. We have also focused on making sure the software user interface is very intuitive so that anyone from the boardroom to the toolbox can interact with it”
The platform has already gained global traction across a range of industries such as telecommunications, rail, industrial and infrastructure providing significant cost savings to users. “It’s not only asset managers but company CFO’s who are our biggest advocates. They are seeing astounding ROI compared to current methods,” says co-founder Fiona Church.
The new technology also reduces the need for workers to be put in dangerous situations. Mitchell Deam, who leads Trendspek’s compliance, says “The ability to complete an inspection from an office without the need for someone working at heights significantly reduces a company’s exposure to risk. They can now harness their data, not their people”.
The three co-founders Derek, Fiona and Mitchell, are no strangers when it comes to the drone industry, having successfully built a respected drone services company in 2013 when commercial drones were still in their infancy.
“Trendspek is the direct result of years of industry consultation when it came to design and functionality. Asset managers have a strong appetite for an innovative platform that streamlines their workflows, we simply built it for them,” added Derek.
The asset management industry is rapidly embracing technology to support ageing infrastructure, manage more extreme environmental conditions and improve efficiency. Managers who leverage technology and data are keeping workers safe, saving costs and resolving problems quickly with complete visibility.
Guy Brown, director at PurdeyInvest, who led the Sydney Angels syndicate said “We were really impressed with the Trendspek team and the quality of the service they provide to their customers. Having previously pioneered drone services for infrastructure, they really understand the challenges infrastructure managers face and are bringing elegant solutions. It is always great to see our capital invested in continuous improvements for customers.”
The capital raised has allowed Trendspek to expand its technology development team and invest in support for customers, as well as launch several new ventures in the US and Australia to fast track it’s global reach.