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.

Switzerland - April 3, 2020 -- 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.

Marcel Poser, co-founder, and CEO of Screening Eagle:

"Our motto is to explore, challenge, and create. We are exploring the limits of physics and the promise of AI; we are challenging traditional asset inspection and maintenance to create a company with a purpose - to protect the built world with software, sensors and data. We are pleased to welcome new partners who share our mission. Let's dream big, build once, and ensure sustainable infrastructure for the generations to come."

Bruno Valsangiacomo, Chairman Screening Eagle and Tectus Group

"We founded Screening Eagle within the Tectus Group as the culmination of 75 years of experience in infrastructure, construction, engineering, and technology. Screening Eagle is defining the next frontier of asset inspection and maintenance. Our new investment partners add diverse expertise and growth capital to scale our operations and pursue mergers & acquisitions."

Chu Swee Yeok, CEO & President of EDBI

"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."

Further information, please contact:

Donald Monson
CFO & Chief Strategy Officer
+65 6331 4151 (Singapore)

Sonia Giron
Head of Marketing
+41 43 355 38 00 (Switzerland) | media@screeningeagle.com

Donald Monson
CFO & Chief Strategy Officer
+65 6331 4151 (Singapore)

Sonia Giron
Head of Marketing
+41 43 355 38 00 (Switzerland) | media@screeningeagle.com

Ringstrasse 2
CH - 8603 Schwerzenbach

About Screening Eagle
Screening Eagle Technologies is a cloud-based technology platform for intelligent inspection of assets and infrastructure, created through the merger of Dreamlab in Singapore and Proceq in Switzerland with a mission to protect the built world with software, sensors and data. Screening Eagle's full-stack inspection solution combines intuitive software and powerful portable sensors to deliver reliable data for construction and asset maintenance decisions. Powered by data from intelligent and autonomous inspection, Screening Eagle is on a steep growth path to realize its vision of predictive healthcare that extends asset life and increases long-term value for asset owners. The Eagle team is creative, innovative and inclusive with a passion for inspection technology contributing to a world of safe and sustainable assets and infrastructure for all.
www.ScreeningEagle.com

About Tectus
The Tectus Group is a family-owned multinational business with headquarters in Zurich, Switzerland. The group has diverse activities across six market segments: IoT & sensing, digital health, entertainment & lifestyle, real estate, engineering & construction, and advisory & investments. Tectus has built industry-leading businesses since 1944 - bbrnetwork.com and TVN Group - while continuously exploring next-frontier technologies with new ventures such as Tectus Dreamlab, neuropro.ch and virtuallylive.com.
www.tectusgroup.com

About EDBI
Investing since 1991, EDBI is a Singapore-based global investor in select high growth technology sectors ranging from Information & Communication Technology (ICT), Emerging Technology (ET), Healthcare (HC) and other strategic industries. As a value creating investor, EDBI assists companies achieve their ambitious goals by leveraging our broad network, resources and expertise. With our growth capital, EDBI supports companies seeking to grow in Asia and globally through Singapore.
www.edbi.com

This release was published on openPR.