Brainnwave forms co-venture with Hatch following $10m Series A investment

Brainnwave forms co-venture with Hatch following $10m Series A investment

Alim Somani

Brainnwave, the Edinburgh-based augmented business intelligence firm, has announced a Series A investment worth $10.2m (Canadian Dollars) with Hatch, an engineering, project management, and professional services firm.

The two organisations have formed a co-venture focusing on developing applications and products combining Brainnwave’s machine learning and AI-powered analytics platform with Hatch’s deep knowledge of the metals and mining, energy, and infrastructure sectors.

The co-venture will allow Hatch to fulfil its digital ambitions and boost its digital practice by helping develop and deploy digital solutions. It will also provide Edinburgh-headquartered with access to clients on a global scale. The Series A funding will unlock a plan to grow Brainnwave’s headcount by 100 people in new, highly-skilled roles, while in parallel upscaling the firm’s Edinburgh and London locations.

Brainnwave’s augmented business intelligence solution – which is already used by organisations such as William Grant & Sons, Aggreko, and Metropolitan Thames Valley – combines data exploration and visualisation to rapidly improve decision-making capabilities.

Its customised software solution enables the sourcing and aggregation of unlimited data combined with bespoke or industry reference machine learning algorithms and AI to help businesses unlock unrealised value in data, preparing them for a digital future.

Alim Somani, managing director of Hatch’s Digital practice, said: “We know our clients are facing tremendous challenges and need solutions now, not years from now. 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.”

Steve Coates, CEO and co-founder of Brainnwave, added: “This partnership made sense because both organisations are like-minded in their entrepreneurial approach, willingness to do things differently and challenge the status quo, and propensity to develop game-changing solutions. 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.”

The co-venture will initially focus on creating solutions to target two of the world’s most pressing issues: climate change and urbanisation.

Following the conclusion of COP26 on 13th November 2021, the two firms believe that this presents a prime opportunity for businesses to consider their climate contribution and how they can limit their impact on the global emergency.

Through the digital solutions and visualisation platforms created through the co-venture, organisations will be able to track, measure, plan, and most importantly, act upon their climate strategies across multiple assets while complying with regional regulations.

Hatch will bring its industry-leading expertise in climate change and technology together to create climate intelligence software that focuses on the unique challenges facing organisations in the metals and mining, energy, and infrastructure sectors. Utilising the Brainnwave platform, Hatch will be able to give organisations the power to put their plans into action and have a positive impact on the future of the planet.

The new platform will also play an integral role in helping governments globally to plan for a more sustainable future in the face of population growth, economic disparity, and climate change. Brainnwave will give local authorities the ability to dig deeper into their data, uncover actionable insights, and build economic development plans that will have a lasting impact on their communities for years to come.

Share icon
Share this article: