$VERS.NE recently closed the second tranche of the private placement, raising another $5.5M after raising $5.24M in the first round. Additionally, insiders bought another 50,000 shares bringing the total insider purchases to 130,000 from both tranches.
Furthermore, $VERS.NE recently joined the Digital Twin Consortium. As a member of the Consortium, they may collaborate with members like Google, HSBC, Microsoft, Kaiser Permanente and Esri over a wide variety of industries. But what is a digital twin? It is a real-time representation of the virtual world that serves as a digital counterpart for practical applications such as testing, system stimulation, maintenance and monitoring. The potential for digital twins to revolutionize how we do common activities is the reason why the market is expected to grow with a CAGR of 40.1% to 2028, reaching $131B by 2030.
https://www.globenewswire.com/news-release/2022/08/18/2501033/0/en/Digital-Twin-market-worth-to-be-around-USD-131-09-billion-by-2030.html
Considering that they’ve raised around $10.7M in a single week, it shows that there’s significant demand from investors for their AI technology. As their Wayfinder application continues to find success with some of the largest warehouse companies in the world, I’ll be looking forward to what other applications they can utilize the COSM OS for. Overall, with multiple 6-figure pilot programs currently underway (most are expected to turn into 7-8 figure contracts), the company is looking fairly attractive at the current $52M valuation.