Accenture has made a strategic investment in Cosmo Tech, a global provider of digital twin simulation and optimization technology.
The agreement, through Accenture Ventures, took place during the first phase of the company’s Series C fundraising. It joins other Project Spotlight investments from late last year, including Planet Labs PBC for climate solutions and BehaVR for digital wellness.
Cosmo Tech’s 360˚ Simulation Digital Twin platform allows organizations to test business changes in order to see the potential short and long-term impact. The cloud-native platform uses data from current systems to test various scenarios and automatically determine an optimal action plan, enabling organizations to find new ways to reduce costs, improve resiliency and efficiency, and lessen environmental impact.
Founded in 2010, Cosmo Tech’s solutions have helped organizations increase profit by five percent across complex supply chains and cut capital and operating expenses by 10-15 percent.
Tom Lounibos, managing director, Accenture Ventures, said: “Accenture and Cosmo Tech’s partnership is built on a common vision of enterprise reinvention by using data and technology to create new ways to engage with customers and build new opportunities for growth.
“Accenture’s reach and capabilities will extend Cosmo Tech’s digital twin simulation technology to our clients across the world, helping them to optimize planning and become more resilient.”
Hugues de Bantel, co-founder and CEO of Cosmo Tech, said: “We are thrilled to welcome Accenture Ventures as investors in Cosmo Tech.
“Their vote of confidence in Cosmo Tech and our game-changing simulation digital twin technology will support our efforts to help organizations across multiple industries shape their future and make the best choices to meet their profitability, productivity and sustainability goals in an uncertain time.”
