Brainnwave, founded in 2014, provides an augmented business intelligence platform that leverages advanced machine learning and statistical models to transform data. Now, the Edinburgh-based company has teamed up with a company nearly 60 years its senior: Hatch, which delivers engineering, construction, and consulting solutions for industries spanning mining, metallurgy, energy, and infrastructure. The new co-venture will combine Brainnwave’s AI-powered analytics with Hatch’s sector knowledge to deliver improved solutions for those industries. At the launch of the co-venture, Hatch announced a Series A investment in Brainnwave, not disclosing the amount of the investment.
“This partnership made sense because both organizations are like-minded in their entrepreneurial approach, willingness to do things differently and challenge the status quo, and propensity to develop game-changing solutions,” said Steve Coates, CEO and co-founder of Brainnwave. “This co-venture was the ideal opportunity to combine Brainnwave’s unique tech stack and expertise with the deep industry relationships and sector expertise of Hatch to build things together, tackling some of today’s most important issues.”
To start, the two companies – with Hatch acting through its younger Digital branch – will be developing two solutions: one aimed at tackling climate change, another aimed at urbanization efforts. The climate-oriented solution aims to help organizations in the metals, mining, energy, and infrastructure sectors tackle specific climate-related challenges – including climate regulations – by tracking, measuring, planning, and acting on climate strategies spanning asset portfolios.
“We know our clients are facing tremendous challenges today and need solutions right now, not in years from now,” Alim Somani, managing director of Hatch’s Digital practice. “Our partnership with Brainnwave helps us develop practical, innovative solutions for our clients’ challenges and accelerates our ability to deliver them quickly so that our clients can begin to reap the benefits.”
The second solution is similar, but targeted at municipalities, with Brainnwave helping them use their data to develop sustainable economic development plans. The companies are tying their investments in these kinds of solutions to the recent conclusion of COP26, the international climate conference that was held in early November in Glasgow, Scotland. Climate and energy strategies have been increasingly prominent for large companies – particularly tech companies – as they have grappled with increasing regulations and the increasing footprints of large data centers and AI computing needs.
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