News Summary

Calgary-based startup Veerum has successfully raised $12 million CAD in a Series B funding round, aimed at advancing its digital twin technology for industries such as oil, energy, mining, and construction. The round was led by American energy tech investors Emerson Ventures and Veriten, with participation from existing investors BDC Capital and Evok Innovations. The funds will be utilized to enhance Veerum’s platform capabilities, optimize delivery for clients of all sizes, and scale operations to meet the increasing demand for digital reality solutions. Veerum’s CEO, David Lod, emphasized the company’s goal to become the leader in visual operations management. The digital twins created by Veerum allow for realistic digital representations of industrial assets, enabling remote inspections and virtual walkthroughs of job sites, thereby enhancing safety and efficiency. Veerum was established in 2014 and previously raised $7.4 million in a Series A round in 2021.