Yokogawa backs European digital twin tool developer
Yokogawa Electric is investing in Belgian low code digital twin tool developer Waylay to boost its cloud services for industrial automation and smart buildings.
Yokogawa and Waylay have been working together on digital transformation (DX) solutions and services and the investment aims to accelerate the growth of Yokogawa’s cloud portfolio of applications and services while helping Waylay expand its market reach.
Waylay in Gent has only raised $1.3m of seed funding according to Crunchbase, from five investors including the Ark Angels Activator Fund and Belgian research lab imec. The terms of the Yokogawa investment were not disclosed.
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The two will use Waylay’s low-code automation expertise to simplify the development and execution of cloud-based applications on the Yokogawa Cloud platform and help retro-fit IoT networks into existing legacy infrastructure. This will provide faster development of complex and custom cloud-native solutions with the support of local or regional Yokogawa engineers
As well as a test and measurement business, Yokogawa has an industrial automation (IA) Software as a Service (SaaS) portfolio and customers can also use the cloud service for utilities, smart buildings, telecom, and data centres on the Yokogawa Cloud.
“For Yokogawa and our customers, this investment is about advancing the application of digital technology and our Yokogawa Cloud platform to accelerate industrial autonomy and smart manufacturing,” said Yukihiro Funyu, a senior vice president of Yokogawa and head of the Digital Strategy Headquarters and DX-Platform Centre in the Digital Solutions Headquarters. “Our work with Waylay will support our customers’ transition to cloud computing and propel the transformation of their digital enterprises.”
”We believe the Yokogawa and Waylay partnership will further enhance our ability to support customer digital transformation journeys by easing the complexity of cloud computing and liberate developers from getting tied down into actions that deviate them from the actual problems they’re supposed to solve,” added Leonard Donnelly, CEO, Waylay. “The reusability, scalability, and fast implementation of our automation engine helps customers shorten development cycles drastically, namely building in days and weeks for what has traditionally taken years.”
www.yokogawa.com; www.waylay.io
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