Accenture (NYSE: ACN) 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.
Cosmo Tech’s 360˚ Simulation Digital Twin platform allows organizations to explore and test business changes in order to see the potential immediate and long-term impact. The cloud-native platform uses data from current systems to test an unlimited number of scenarios and automatically find the optimal action plan. This enables organizations to more easily and quickly find new ways to achieve goals including cost reduction, improved resiliency and efficiency, and lessening environmental impact. Founded in 2010, Cosmo Tech’s solutions have helped asset-intensive organizations increase profit by 5% across complex supply chains, and cut capital and operating expenses by 10-15%.
“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,” said Tom Lounibos, managing director, Accenture Ventures. “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.”
“We are thrilled to welcome Accenture Ventures as investors in Cosmo Tech,” added Hugues de Bantel, co-founder and CEO of 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.”
Michel Morvan, co-founder and Executive Chairman, Cosmo Tech, said: “Digital twin simulation technology brings a new way for organizations to understand and manage complex supply chain operations. We look forward to working with Accenture Ventures to empower organizations to become agile drivers of change and to lead with confidence.”
This investment is part of Accenture Venture’s Project Spotlight, an engagement and investment program that targets emerging technology software companies that can help fill strategic innovation gaps for the Global 2000. In addition to capital investments, Accenture Venture’s Project Spotlight offers unprecedented access to Accenture’s technology domain expertise and its enterprise clients. Technology companies co-innovate with Accenture at its Innovation Hubs, Labs and Liquid Studios, working with subject matter experts to adapt their solutions to the enterprise market and scale faster and more effectively.
Sourced from Accenture Newsroom