Calgary-based SaaS provider VEERUM creates 3D visualizations – or digital twins – to help some of the world’s largest companies manage their industrial assets, save time and money, and keep workers safe.
“We can digitize an entire mine site on the other side of the world in under two days,” said CEO David Lod. “Where it used to take six months and significant financial investment in project management and set-up fees, we can now help clients reach ROI in one month, saving them millions of dollars on critical construction projects as well as operations management.”
As outlined in the economic strategy, Calgary in the New Economy, the company is an example of the world’s best entrepreneurs the city hopes to inspire among a fast-changing economy and digital transformation across sectors.
“It’s not just a matter of high-tech coolness,” said Lod. “It’s a way of communicating effectively with humans. We seem to learn much faster when data is presented in a 3D format.”
VEERUM combines engineering model data – CAD and geospatial data – with satellite and drone imagery, IoT sensors and existing design information, to create precise replicas of assets to support project execution in today’s digital world. Workers can now be on site – without going to the site – and companies can run virtual simulations to uncover safety and constructability improvements.
With clients in South Africa, Singapore, Japan, China and the United States, 17 languages are spoken among VEERUM’s 35 employees with sales presentations in Spanish, French, and English. “Our strength lives in our diversity,” said Lod. “We build on our different backgrounds and industry expertise. Diverse views are exciting and valuable for us.”
The company was incubated by Calgary’s Zone Startups and received funding from the National Research Council, the Government of Canada’s Western Innovation (WINN) initiative, and Calgary-based geospatial accelerator, Tecterra. VEERUM is now involved in the two largest capital projects in Canada at the moment.
“We’re working with companies with half a trillion in market capital, and here we are, a small business in Calgary, transforming the way they work,” said Lod. “It’s great to see the startups and scaleups hitting the radar; there have been so many years of driving forward and now all that effort is bearing fruit.”
VEERUM is working with local venture capital and talent to help fuel its continued growth and is about to lean into artificial intelligence as it becomes more deeply incorporated into their app.
“We’ve become an incredible framework by which AI can be layered into our clients’ data. Watch for some exciting announcements relating to Alberta AI initiatives. There is a great skill set of data scientists in the province. We’ve hired a lot of them and that will be a key part of our success going forward.”
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