How Trusted Twin's Digital Twins Could Help Turn Your Product Into A Service

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Large companies are increasingly looking for ways to move from selling physical products to selling the functionality of those products as a service. For example, Rolls Royce, which is one of the leading manufacturers of jet engines besides luxury cars, now allows airlines to subscribe to an engine offer as a per-mile service. Companies pay according to flight hours and type of trip. This helps airlines control costs and forces Rolls Royce to improve quality and reduce maintenance costs.

It's one thing for a $6 billion company like Rolls Royce to do the programming and integration needed to turn products into services. However, small businesses can struggle to scale their data infrastructure to share the operational data that powers product-as-a-service offerings between partners.

Trusted Twin, based in Gdansk, Poland, raised $1 million in pre-seed funding to meet this challenge. The platform uses digital twins of real and abstract objects to communicate between business teams, developers and data scientists from different companies.

This promises to streamline the development of new applications that take advantage of operational data from many sources, including facilities, equipment, and business applications. These applications can improve predictive maintenance, logistics, and order fulfillment business processes.

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Trusted Twin CEO and co-founder Krzysztof Malicki told VentureBeat that he started working for the company in 2020 when he had a hunch that companies would soon be collaborating around digital ledgers representing objects. “The digital twin philosophy is perfect for sharing real-time operational data,” he said.

Many low-code tools exist for developing applications within a company's operations. But there are fewer options when companies try to share operational data across corporate boundaries.

“Today, if you want to share operational data with partners, you essentially have to develop your own solution,” Malicki said.

A company that manufactures utility meters turned to Trusted Twin to transition from selling meters to providing metering as a service to utility companies. Trusted Twin automates governance to share data with customers in a safe and controlled manner. It also streamlines cloud integration. This allows the company to focus on developing a better meter and business development rather than application integration.

There are also many data analysis tools like Snowflake and data lakes to analyze data about events that have happened. In contrast, Trusted Twin focuses on operational data that provides real-time insights into live processes, services, objects, and settings.

"There just aren't many options on the market right now for B2B sharing of operational data," Malicki said.

Trusted Twin's platform promises to complement existing data analytics platforms. For example, in a predictive maintenance application, analytics data stored in data lakes could help train data patterns to identify failure patterns. Trusted Twin helps build applications that correlate live data with these failure patterns. Then the app could automatically schedule a third-party maintenance company to replace critical parts when failure seems imminent.

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