March 20, 2020
Technology, Software, AI (Artificial Intelligence), Internet of Things, SaaS, Industrials and Industrial Technology
GCA Advises Screening Eagle on Its Capital Raise
GCA has advised Screening Eagle Technologies, a cloud-based technology platform connecting sensors, software and data for intelligent inspection of assets and infrastructure, on its first institutional round of equity funding, raising CHF 55M ($57M). The funding round was led by a prominent Swiss family office with participation from EDBI, a global investor based in Asia, and other high-net-worth individuals.
Screening Eagle’s mission is to protect the built world. Roads, bridges, buildings, energy and transportation assets form the backbone of public safety and economic development – and massive economic value is at risk from aging global infrastructure and construction defects in new assets, due to inadequate inspection and maintenance. Screening Eagle is pioneering the $68B Inspection Tech industry, building digital-first, intelligent inspection solutions that secure an AI-powered future of long-term sustainable assets and infrastructure for the public and the asset owners.
Screening Eagle’s ecosystem disrupts the traditional non-destructive testing (NDT) market with cloud-connected devices and real-time analytics software that scale with mobile computing. Screening Eagle’s customers benefit from a lower cost of hardware ownership and continuous state-of-the-art performance via over the air software performance updates. For service providers or asset owners, the Eagle Platform connects all inspection data in one place, while Eagle Inspect, the world’s first project management and workflow software tool dedicated to field inspection, due to roll out later this year, will provide end-to-end digital records, AI-assisted condition assessment and automated reporting.
The funding will accelerate Screening Eagle’s growth trajectory with new product development, talent acquisition and M&A. Screening Eagle intends to acquire, partner and expand in end markets from buildings and infrastructure to energy and aerospace, connecting more sensors to its software platform to accelerate its pursuit of data-driven inspection and predictive asset healthcare.