Gilytics convinces with software for the construction of lines
Gilytics raised CHF 1 million in a financing round. The spin-off from ETH Zurich has developed software based on geospatial data that makes it easier, for example, to lay power lines.
Gilytics has raised CHF 1 million as part of a seed financing round, according to a media release . The high-tech start-up fund, the Swiss Startup Group and the Zürcher Kantonalbank have invested.
Gilytics was able to convince with software that can be used, for example, to plan overhead line and underground cable connections. The software can determine the routes of power lines based on geospatial data. Users can analyze detailed scenarios with 2D, 3D and augmented reality visualization. In addition to laying power lines, the software can also help with the planning of rails or roads.
"We are impressed by the team's industry knowledge, the proven technology and the commercial traction that has already been generated with leading companies in the industry in Switzerland and across borders," says Fabian Hogrebe, Investment Manager at High-Tech Gründerfonds, quote in the communication.
Gilytics wants to use the fresh funds to further develop functions to support construction supervision and the operation of solar and wind projects. At the same time, the company wants to expand its operating network.
Gilytics was spun off from the Swiss Federal Institute of Technology Zurich ( ETH ) in 2017 and is based in Zurich.