Dubai-based startup Immensa, founded by Fahmi Al Shawwa in 2016, has secured $20 million in Series B financing to further its mission of transforming the energy sector’s supply chain dynamics through additive manufacturing and 3D printing.
Originally established with a focus on industrial applications, Immensa shifted its attention to the energy sector in 2018.
The energy sector, encompassing oil and gas, petrochemicals, power generation, and more, faces complex supply chain challenges. Large corporations like Equinor, ConocoPhillips, and Saudi Electricity Company hold significant spare parts inventories, often manufactured in regions distant from their headquarters. Immensa addresses this issue by leveraging additive manufacturing, enabling on-demand production of spare parts without the need for mass manufacturing hubs across the globe.
Immensa’s digital approach streamlines the traditional supply chain process. Clients can easily locate and order required parts online, which are then produced at the nearest qualified 3D printing facility. This eliminates the need for extensive shipping, reducing lead times, costs, and environmental impact.
Immensa focuses on simplifying offerings for large energy companies by assessing their physical warehouses and converting them into digital or virtual warehouses. This digitization allows for the production of parts on demand, significantly reducing the spare parts balance sheet for energy conglomerates.
Immensa claims to be the only company owning and controlling the entire digital supply chain of the energy sector. Operating on the DIS RT platform, the startup provides comprehensive solutions covering assessment, digitization, and production-on-demand, ensuring data security and quality control. With over 100 additive manufacturing specialists and engineers, Immensa also integrates proprietary AI tools into DIS RT, managing extensive data volumes for real-time information processing.
Over the past six years, Immensa has assessed over a million parts, producing more than 15,000 components. It started in the UAE and Kuwait, expanded into Saudi Arabia, and now serves clients across the Middle East, North Africa, and plans to enter North America. Major oil and gas conglomerates, including Aramco, Adnoc, and Schlumberger, are among its clientele.
The recent $20 million funding round, led by Global Ventures, will enable Immensa to become a global solutions provider, constructing the largest digital warehouse in the energy sector. The funds will also enhance DIS RT and fortify its AI tools.
Immensa plans to strengthen its operations in Saudi Arabia and the UAE, expand into two additional regional countries within the next six months, and target North America within 12-18 months. Revenues for the startup reached over $10 million last year, with plans to double figures by the end of 2023. The funding round included participation from new backers such as Endeavor Catalyst Fund and EDGO, along with continued support from existing investors.
Author
