Screening Eagle raises CHF 55 million to protect the built world
Screening Eagle Technologies (SET), a cloud-based technology platform connecting sensors, software, and data for intelligent inspection of assets and infrastructure, is pleased to announce it has raised CHF 55 million in its first institutional round of equity funding.
Screening Eagle is on a mission to protect the built world. Massive economic value is at risk from aging global infrastructure and construction birth defects in new assets. Roads, bridges, buildings, energy and transportation assets form the backbone of public safety and our economic development. This vital neural network of our society is failing due to inadequate inspection and maintenance. Screening Eagle is pioneering the $68bn Inspection Tech industry, bringing together talent to build 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.
The funding will accelerate Screening Eagle’s growth trajectory with new product development, talent acquisition, and M&A. Our ecosystem is disrupting the traditional non-destructive testing (NDT) market with cloud-connected devices and real-time analytics software that scale with mobile computing. Subscriptions are growing at triple digits as our customers benefit from lower cost of hardware ownership and continuous state-of-the-art performance via over the air software performance updates. Whether you are a service provider or asset owner, the Eagle Platform connects all your inspection data in one place with a single sign-on. Eagle Inspect, the world’s first project management and workflow software tool dedicated to field inspection, which rolls-out later this year, provides end-to-end digital records, AI-assisted condition assessment and automated reporting.
Screening Eagle Technologies is a merger of two Tectus Group founded and funded companies – Dreamlab, a Singapore-based software and robotics company, and Proceq, a Swiss-based NDT company with a 65+ year heritage as a market leader in portable sensors. The fragmented NDT industry needs digitization and consolidation – SET intends to acquire, partner and expand in end-markets from buildings and infrastructure to energy and aerospace, connecting more sensors to our software platform to accelerate our pursuit of data-driven inspection and predictive asset healthcare. SET is a creative, innovative, and inclusive company – our team is actively recruiting talented individuals who share our vision to join us.
The funding round was led by a prominent Swiss family office (advised by JL Financial Advisory AG) with participation from EDBI, a global Asian-based investor, and other high-net-worth individuals.
Screening Eagle is a market leader in the inspection industry and is well-positioned to capture digital transformation opportunities in an industry ripe for disruption with the adoption of AI-enabled solutions and advanced robotics technologies. EDBI is pleased to be their partner in Asia as they amplify their Singapore operations to develop advanced software solutions that will help the built environment industry achieve significant productivity gains.