WaveScan Technologies, a Singapore-based smart sensors company, has raised “seven-figure US dollars” in a seed round of financing led by Silicon Solution Ventures (SSV), an investment fund managed by Silicon Solution Partners.
Joining the round were SEEDS Capital, Koji Ventures, she1K global, KK39 Ventures, Plug & Play Venture Group, Plug & Play Singapore, and Leave A Nest Singapore.
The company said in a statement that it will use the money to launch the first version of its modular scanner system. This system is designed to integrate with automated robotic platforms such as arms and crawlers.
A portion of the funds will also go into testing the drone version of the scanner for more focused applications and delivering on its committed full-scale projects slated for the year ahead, besides scaling the team.
WaveScan also disclosed its plans to collaborate with over 20 large infrastructure companies in Singapore, Malaysia, Hong Kong, Thailand, and the UK — in addition to currently conducting pilot trials in Europe and Japan.
Founded by Kush Agarwal, WaveScan focuses on a preventive, instead of a reactive approach, to infrastructure maintenance.
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Its wireless scanners utilise electro magnetic (EM)-based microwave and millimetre waves that could penetrate a variety of structural materials, including wood and concrete. Capable of high-resolution four-dimensional sensing, the EM waves are sent and received back to indicate building and infrastructural defects.
“Today, inspection and maintenance is a slow, costly and inefficient process, inhibiting stakeholders from raising their proactivity. With our solution, we seek to bring unprecedented levels of automation in all aspects of the inspection and defect analysis processes of structural infrastructure elements,” explained Agarwal.
The startup claims to have received interest from over 50 multinational companies, including those in the transport (aerospace/railway) and oil & gas industries, besides infrastructure.
Additionally, WaveScan will also be embarking on projects that will impact the local domestic market by conducting water leakage inspections.
It will be engaging in full-scale deployment and test-bedding on various ages of buildings with a view towards larger island-wide adoption.
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Image Credit: WaveScan Technologies
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