Hatch invests in co-venture with Brainnwave
The engineering firm is teaming up with the software developer.
Engineering firm Hatch has formed a co-venture with software provider Brainnwave to develop digital applications and visualization platforms that will allow their clients to track, measure, plan and act upon climate change strategies across multiple assets, while complying with regional regulations.
With Hatch’s Series A investment of $10.2 million in Brainnwave, the co-venture combines the former’s experience in metals, mining, energy and infrastructure with the latter’s machine learning and artificial intelligence-based (AI-based) analytics platform. The software developer plans to hire 100 more staff.
“We know our clients are facing tremendous challenges today and need solutions right now, not years from now,” says Alim Somani, managing director of Hatch’s digital practice. “Our partnership with Brainnwave helps us develop practical, innovative solutions and deliver them quickly.”
“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,” says Steve Coates, CEO and co-founder of Brainnwave.