What are the top digital twin startups by revenue today?

The ranking of top startups in the digital twin market by revenue

Below is a table ranking all the companies in this market by their current revenue scale. You can find our methodology at the end of this page.

If you want a deeper understanding of the market and its current dynamics, get our report covering the Digital Twin Market.

What actually counts as a digital twin startup today?

A digital twin startup today is an independent technology company whose core product depends on creating, maintaining or using a digital representation of a physical asset, system, facility, network or process.

That definition immediately removes some of the biggest names that appear in digital twin market reports. Siemens Digital Industries, ABB Automation, Dassault Systèmes, Hexagon, Autodesk, Rockwell Automation, PTC and Bentley Systems all sell digital twin technology, but they are large established companies with much broader businesses.

We also separate companies that have already crossed out of startup territory. Matterport generated $169.7 million of revenue in its last full standalone year, but CoStar acquired it in 2025. 51WORLD generated RMB347.8 million in 2025 and is a remarkably clean digital twin pure play, but the company is now listed in Hong Kong. Both are useful benchmarks, not current startups.

Cognite is the awkward one. Founded in 2017, it still gives us one of the best recent examples of how large an independent digital twin company can become. Schneider Electric has agreed to acquire it for $3.1 billion, so Cognite is now on its way out of the startup category. We still include its latest independent revenue because excluding it would hide the largest commercial success in the current cohort.

Which digital twin startups make the most revenue today?

Cognite is comfortably ahead on the strongest public revenue evidence, while the ranking below it gets much less certain.

Cognite disclosed more than $170 million of annual revenue for 2025. Aize reported NOK465 million through Aker's financial reporting. PassiveLogic is estimated at roughly $64 million, although that figure comes from a third party rather than the company. Skyral filed about £14.6 million of turnover, while ACCURE, Prevu3D, Mondra, Makersite and several others appear to sit around the low-eight-figure range based mostly on external estimates.

That leaves two different rankings inside the same market: a short group where we have direct or filed revenue, and a much longer group where we can only estimate the company's rough commercial band.

Company	Best revenue evidence	Evidence quality	Status
Cognite	>$170M annual revenue	Company disclosed	Acquisition agreed
PassiveLogic	~$63.6M estimated revenue	Third-party estimate	Private
Aize	NOK465M annual revenue	Filed / parent reporting	Private
Skyral	£14.6M turnover	Filed accounts	Private
ACCURE Battery Intelligence	~$14.7M estimated revenue	Third-party estimate	Private
Prevu3D	~$13.1M estimated revenue	Third-party estimate	Private
Mondra	~$11.6M estimated revenue	Third-party estimate	Private
Makersite	~$10M estimated revenue	Third-party estimate	Private
Intangles	₹75.1 crore FY2025 revenue	Corporate financial data	Private
Gradyent	~$8.4M estimated revenue	Third-party estimate	Private

Is Cognite really the biggest digital twin startup by revenue?

Yes. Cognite is in a different revenue class from the other independent digital twin specialists for which we found credible financial evidence.

Cognite said annual revenue exceeded $170 million in 2025. The same company update reported 36% year-over-year growth in ARR bookings, 150% net revenue retention among newer customers and rapid adoption of Atlas AI. More than 70% of 2025 bookings included Atlas AI.

The gap below Cognite is substantial. Aize reported NOK465 million of 2025 revenue, while the remaining private specialists with visible numbers mostly sit in the tens of millions or single-digit millions.

Cognite's scale also shows where the money is going. The company sells much more than a visual representation of an industrial asset. It connects industrial data, contextualizes that data and increasingly layers AI on top of it. The digital twin sits inside a broader operating system for industrial information.

Schneider Electric's agreed $3.1 billion acquisition gives another indication of how far Cognite has moved beyond the normal digital twin startup cohort. The acquisition announcement specifically highlighted Cognite's more than $170 million in annual revenue, 800-plus employees and industrial AI platform.

Is 51WORLD bigger than most digital twin startups?

Yes. 51WORLD is already larger than almost every private digital twin specialist we found, but it is now a public company.

Its 2025 annual report shows RMB347.8 million of revenue, up from RMB287.4 million in 2024. That works out to roughly 21% growth in one year.

This is an unusually useful benchmark because 51WORLD is much closer to a digital twin pure play than Siemens, ABB or Autodesk. Its products span 3D graphics, simulation, synthetic environments and digital twins across cities, transportation, energy, water, automotive and robotics.

The company began trading in Hong Kong at the end of 2025, so we no longer count it as a startup. Still, 51WORLD shows that a fairly focused digital twin company can reach revenue measured in hundreds of millions of renminbi before turning into a diversified industrial giant.

Should Matterport still count as a digital twin startup?

No. Matterport remains an important revenue benchmark, but CoStar now owns the company.

Matterport reported $169.7 million of total revenue in 2024, including $99.6 million of subscription revenue. Q4 ARR reached $104.2 million, its subscriber count reached 1.2 million and the platform had more than 50 billion square feet under management.

CoStar completed the acquisition in 2025. Since then, Matterport's technology has been integrated into a much larger real-estate data company, so ranking Matterport as an independent startup today would be misleading.

Its last standalone revenue is still useful. Cognite has now reached roughly the same annual-revenue territory that Matterport occupied immediately before being acquired.

How much revenue does Aize make?

Aize generated NOK465 million of revenue in 2025, putting it among the largest private digital twin specialists with strong public financial evidence.

Aker's reporting says that Aize's customer-contract revenue included development work for key funding partners, software subscriptions to Aize Workspace and implementation and professional services.

So we should not read NOK465 million as pure SaaS ARR. Some of that revenue comes from development and services. Even with that caveat, it is much stronger evidence than an employee-based revenue estimate.

Aize is also tightly connected to the digital twin market. Its software brings engineering, operational and asset information together around complex industrial facilities, particularly in energy.

Is PassiveLogic really making around $64 million a year?

Maybe, but the roughly $64 million PassiveLogic figure is much less reliable than the revenue numbers we have for Cognite or Aize.

The current estimate comes from an external company-intelligence provider rather than PassiveLogic itself. That is enough to suggest that PassiveLogic may already be a substantial business, but not enough to treat $63.6 million as an accounting fact.

PassiveLogic is still important to the ranking because its product is one of the clearest examples of a live operational twin. The company models building systems and uses those models for autonomous control and optimization.

For now, we keep PassiveLogic close to the top while giving the exact number low confidence. A direct company disclosure could move it considerably.

How big is Skyral today?

Skyral is one of the larger private companies in this ranking for which we found actual filed accounts.

Skyral Group filed 2025 group accounts with Companies House, and those accounts put turnover at roughly £14.6 million. That gives us firmer evidence than the modeled revenue figures attached to many startups of similar apparent size.

The category fit needs more care. Skyral develops simulation and synthetic-environment systems for defense and other complex environments. Some of that work sits squarely inside digital twins, while some is better described as simulation.

We therefore count Skyral, but with a wider product perimeter than a company built purely around operational twins.

Which digital twin startups have crossed $10 million in annual revenue?

Only a fairly small group can be placed above roughly $10 million using public evidence, and several of those numbers are still estimates.

Cognite is far above the threshold. PassiveLogic appears to be. Aize clearly is. Skyral reported £14.6 million of turnover. ACCURE is estimated around $14.7 million, Prevu3D around $13.1 million, Mondra around $11.6 million and Makersite around $10 million. Intangles also belongs around this commercial band with ₹75.1 crore of FY2025 revenue.

The size of this group is more interesting than the exact ordering. Once we remove public companies, acquired businesses and giant industrial incumbents, there simply are not dozens of independent digital twin startups publicly showing $50 million or $100 million of annual revenue.

Revenue band	Companies visible in that band	Quality of evidence
>$100M	Cognite	Direct disclosure
~$40M–$70M	PassiveLogic; Aize directionally	Estimate / reported revenue
~$15M–$25M	Skyral; ACCURE directionally	Filed accounts / estimate
~$10M–$15M	Prevu3D; Mondra; Makersite; Intangles directionally	Mostly estimates, plus corporate financial data
~$5M–$10M	Gradyent; Cupix; VEERUM; XMPro	Mostly estimates
<$5M	Dexory; Bisly; Sensat; Myrspoven; CYVL; Aetos; Cetasol	Mixed filings and estimates

Are most digital twin startups still below $20 million in revenue?

Yes. Most visible independent digital twin startups still appear to be below roughly $20 million a year.

The cluster is surprisingly dense. ACCURE is estimated around $14.7 million, Prevu3D around $13.1 million, Mondra around $11.6 million, Makersite around $10 million, Gradyent around $8.4 million, Cupix around $7.3 million, and VEERUM and XMPro around $6.7 million each.

We should not pretend those estimates are precise enough to settle whether a $13 million company is really larger than an $11 million one. They are more useful as revenue bands.

The broader picture is clear enough: digital twin adoption can be widespread while most standalone vendors remain relatively small software companies.

Which construction digital twin startup is making the most money?

We cannot confidently name the construction leader by revenue because Buildots, arguably the strongest current candidate, still does not disclose an absolute revenue figure.

Buildots recently said it had raised another $130 million, bringing total capital raised to $297 million. More interestingly for this ranking, the company says it has maintained roughly 3x annual revenue growth for several years and is now deployed by more than 100 large-scale firms. It also says seven-figure, portfolio-wide, multi-year agreements have become normal for the business.

Prevu3D has an estimated $13.1 million in annual revenue. Cupix is estimated around $7.3 million. Both figures are easier to put into a revenue table, but neither proves those companies are larger than Buildots.

So Buildots is one of the clearest cases where refusing to invent revenue matters. Its commercial evidence looks strong enough that it could rank much higher than some companies with published estimates, but we do not know exactly where.

Is NavVis bigger than its missing revenue figure makes it look?

Almost certainly. NavVis has one of the largest directly disclosed operating footprints among private companies in this article.

NavVis recently raised $85 million and said more than one billion square meters were scanned, processed and distributed through its platform during 2025 alone. The company also reports more than 150,000 users and over 1,500 customers across more than 50 countries.

Those customers include major industrial names such as BMW, Volkswagen, Toyota, Mercedes-Benz, ExxonMobil, BASF, Bosch, KION and Siemens.

NavVis therefore looks commercially larger than many startups sitting in the lower half of a revenue table. What we still cannot do is turn 1,500 customers into annual revenue. Contract sizes can vary dramatically between a factory deployment, a construction project and a smaller spatial-data account.

Which industrial and energy digital twin startups have built real businesses?

Industrial and energy digital twins currently produce some of the strongest commercial results in the startup market.

Cognite leads by a wide margin with more than $170 million of annual revenue. Aize reported NOK465 million. ACCURE, which continuously analyzes operational battery data, is estimated around $14.7 million. Gradyent, which builds live models of district-heating networks, is estimated around $8.4 million. Below them, etalytics, Bisly, Myrspoven, Cetasol and Tibo Energy attack narrower energy or building-control problems.

Tibo Energy provides another useful non-revenue signal: the company says its systems are trusted by more than 100 companies in the Benelux. METRON says it works with 185 international groups across more than 22,000 sites.

The economics are fairly easy to see here. A refinery, battery fleet, heating network or factory generates live operational data, and improving uptime or energy consumption has a measurable financial value. Customers do not have to buy into an abstract “digital twin strategy” to justify the software.

Company	Main use case	Best visible scale evidence
Cognite	Industrial data and operations	>$170M annual revenue
Aize	Industrial asset information	NOK465M annual revenue
ACCURE	Battery intelligence	~$14.7M estimated revenue
Gradyent	District heating	~$8.4M estimated revenue
etalytics	Industrial energy	~$5M estimated revenue
Bisly	Building automation	€3.29M filed revenue
Myrspoven	Building energy	SEK15M filed net sales
Cetasol	Vessel optimization	SEK4.45M filed net sales
Tibo Energy	Energy systems	100+ companies
METRON	Industrial energy management	185 groups; 22,000+ sites

Are Prevu3D, Mondra and Makersite really $10 million-plus companies?

They appear to be around that level, but the exact numbers should be treated as rough estimates.

Prevu3D is currently estimated at roughly $13.1 million in annual revenue. Its software turns industrial facilities into navigable 3D environments so teams can work around an existing physical site.

Mondra is estimated around $11.6 million and focuses more on product and supply-chain models, particularly around environmental impact. Makersite is estimated around $10 million and also sits at the product and supply-chain end of the market.

A ranking that shows $13.1 million, $11.6 million and $10 million can look more precise than the evidence really is. A relatively small estimation error could reverse the order.

All three appear to have reached the low-eight-figure commercial range rather than remaining tiny pilot-stage businesses. That is the useful takeaway.

Do the biggest digital twin companies actually sell “digital twins”?

Usually, no. The biggest businesses tend to sell a much more concrete outcome, with the digital twin sitting underneath it.

Cognite sells industrial data and AI. Aize organizes industrial asset information and workflows. NavVis sells spatial-data infrastructure. Buildots sells construction intelligence. Matterport combined spatial capture, software subscriptions and hardware. 51WORLD combines digital twins with simulation and synthetic environments.

Large incumbents follow the same pattern. Siemens, PTC, Bentley, Autodesk, Dassault Systèmes and Hexagon embed twins inside engineering, lifecycle management, simulation, design or infrastructure software.

Customers generally have a clearer reason to spend money on reducing construction delays, cutting energy bills, understanding a factory, improving asset reliability or making industrial data usable than on buying a “digital twin” in isolation.

That helps explain why the companies reaching the most revenue increasingly describe themselves in broader terms.

What kind of digital twin startup makes the most money?

Industrial operations, asset management and other expensive physical systems currently produce the biggest visible revenue opportunities.

The largest private examples, Cognite and Aize, both sit deep inside industrial workflows. Battery intelligence, district heating, factories, buildings, warehouses and construction projects make up much of the next layer.

Supply-chain twins form another smaller cluster. Mondra and Makersite appear to have reached roughly the $10 million range by modeling products and supply networks rather than individual machines.

Spatial twins are also commercially important. NavVis has already reached more than 1,500 customers, while Matterport showed before its acquisition that spatial-data software could support a business approaching $170 million in annual revenue.

The common thread is less about what the twin represents and more about whether the model becomes part of a recurring decision or workflow.

Can customer counts tell us which digital twin startups are secretly bigger?

Customer counts can show that a company has real commercial scale, but they cannot tell us its revenue with enough precision to rank it.

NavVis says more than 1,500 customers use its technology. Buildots reports more than 100 large-scale firms. METRON works with 185 international groups and more than 22,000 sites. Tibo Energy says more than 100 companies use its systems.

Those figures are useful because they stop us from treating a company with undisclosed revenue as if it were automatically smaller than a startup with a $5 million estimate.

The problem is contract size. Ten major utilities could potentially produce more revenue than hundreds of smaller commercial-building customers. A global manufacturer can also deploy one platform across dozens of factories under a single contract.

So customer counts help us identify companies that may be under-ranked. They do not give us permission to manufacture revenue.

How much should we trust estimated digital twin startup revenue?

Enough to identify rough commercial bands, but not enough to believe every position in the ranking.

Cognite's >$170 million figure comes directly from the company. Aize's NOK465 million appears in Aker's reporting. Skyral has filed accounts. Matterport's old standalone number came from public financial reporting. 51WORLD has audited public-company accounts.

PassiveLogic, ACCURE, Prevu3D, Mondra, Makersite, Gradyent, Cupix, VEERUM and XMPro are different. Their visible revenue figures are mostly external estimates.

That difference becomes critical in the middle of the ranking. We can reasonably say that a company estimated around $10 million seems commercially larger than a business reporting a few hundred thousand dollars. We should be much more cautious about saying a $13.1 million estimate definitely beats an $11.6 million estimate.

Company	Revenue evidence	Confidence in exact amount
Cognite	>$170M	High
Aize	NOK465M	High
Skyral	£14.6M	High on turnover
Intangles	₹75.1 crore	Medium
PassiveLogic	~$63.6M estimate	Low
ACCURE	~$14.7M estimate	Low
Prevu3D	~$13.1M estimate	Low
Mondra	~$11.6M estimate	Low
Makersite	~$10M estimate	Low
Gradyent	~$8.4M estimate	Low

Which digital twin startups are growing fast enough to move up the ranking?

Buildots and Cognite currently give us the clearest evidence that this ranking could change quickly.

Cognite's latest annual update showed revenue above $170 million alongside 36% growth in ARR bookings. The company's Atlas AI product also spread quickly across the customer base, with more than 70% of 2025 bookings including Atlas AI.

Buildots has not published revenue, but the company says it has produced roughly 3x annual revenue growth for several years in a row. It now serves more than 100 large-scale firms and says seven-figure, multi-year enterprise contracts are increasingly normal.

NavVis is another company worth watching. The business recently raised $85 million, has more than 1,500 customers and processed over one billion square meters through its platform in 2025.

These disclosures do not tell us exactly where Buildots or NavVis belongs in the revenue table today. They do tell us that relying on a two-year-old private-company estimate can get stale very quickly.

Is AI making digital twins easier to sell?

Yes. AI is giving digital twins a clearer job inside industrial and construction software.

Cognite is the strongest example. More than 70% of its 2025 bookings included Atlas AI, according to the company's latest annual update. Schneider's acquisition announcement also centered heavily on combining Cognite's industrial data layer with AI and automation.

Buildots uses computer vision trained on years of construction-site data to turn site imagery into a continuously updated view of project progress. The company can then identify delays and compare what is physically happening with plans and schedules.

Battery, energy and industrial startups use a similar logic in narrower environments: ingest live physical data, maintain a model of the asset or system, then predict what will happen or recommend what to change.

AI gives the twin a more obvious economic role. A model that continuously helps a customer detect, predict or decide something is easier to justify than a sophisticated digital representation that people mainly look at.

Why do digital twin revenue rankings get misleading so quickly?

Digital twin rankings become misleading when company type, revenue metric and business perimeter are mixed together.

An $8 billion industrial-automation division is not an $8 billion digital twin business. ARR is not recognized revenue. GMV is not revenue. A customer count is not revenue. A parent company's sales cannot automatically be assigned to one digital-twin product.

Corporate status creates another problem. Matterport has been acquired. 51WORLD and Modelon are public. Cognite has an acquisition agreement in place. Putting all four beside a young private startup without explaining those differences produces a clean table and a bad comparison.

We therefore prefer an imperfect figure whose limitations we can explain over an apparently precise figure built on assumptions.

So who are the top digital twin startups by revenue right now?

Cognite is the clearest number one, while Aize has the strongest direct revenue evidence in the group below it and several other apparent leaders depend on estimates.

PassiveLogic could be the second-largest private specialist by revenue if the current ~$63.6 million estimate is close to reality. Aize's NOK465 million is far better documented, however, so we have much more confidence in its actual scale. Skyral follows with filed turnover, while ACCURE, Prevu3D, Mondra, Makersite and Intangles form a rough low-eight-figure group.

The lower half should be read as a commercial-scale ranking rather than a perfectly precise accounting league table.

Rank	Company	Best current evidence	How we read it
1	Cognite	>$170M annual revenue	Clear leader; acquisition agreed
2	PassiveLogic	~$63.6M estimated revenue	Potentially very large, but low-confidence estimate
3	Aize	NOK465M annual revenue	Strong direct evidence
4	Skyral	£14.6M turnover	Filed figure; broader simulation perimeter
5	ACCURE Battery Intelligence	~$14.7M estimated revenue	Strong category fit; estimated number
6	Prevu3D	~$13.1M estimated revenue	Low-eight-figure scale, estimated
7	Mondra	~$11.6M estimated revenue	Low-eight-figure scale, estimated
8	Makersite	~$10M estimated revenue	Low-eight-figure scale, estimated
9	Intangles	₹75.1 crore FY2025 revenue	Better financial evidence than most nearby startups
10	Gradyent	~$8.4M estimated revenue	Strong digital-twin fit; estimated
11	Cupix	~$7.3M estimated revenue	Construction twins
12	VEERUM	~$6.7M estimated revenue	Industrial asset twins
13	XMPro	~$6.7M estimated revenue	Industrial operations twins
14	etalytics	~$5M estimated revenue	Industrial energy twins
15	Dexory	£3.2M filed turnover	Stronger evidence than nearby estimates
16	Bisly	€3.29M filed annual revenue	Clean small-company disclosure
17	Sensat	~$3.8M estimated revenue	Infrastructure twins
18	Myrspoven	SEK15M filed net sales	Building-energy twins
19	CYVL	~$2M estimated revenue	Road and infrastructure twins
20	Aetos Imaging	~$1.8M estimated revenue	Facility operations twins

Buildots and NavVis deserve a separate mention because both may be materially under-ranked by a revenue-only approach. Buildots reports several years of roughly 3x annual revenue growth and more than 100 large enterprise customers but no absolute revenue. NavVis has more than 1,500 customers and 150,000 users but also keeps revenue private. We would rather leave both unranked than reverse-engineer fictional revenue from those operating metrics.

Matterport, 51WORLD and Modelon sit outside the startup table for a different reason. Matterport is now owned by CoStar, while 51WORLD and Modelon are listed companies. Their financials remain valuable benchmarks for what specialist digital-twin businesses can become.

The clearest picture today is a market with one standout private company around the $170 million-plus level, a thin layer of companies in the tens of millions, and a much larger group below roughly $20 million. The companies reaching serious scale are also becoming harder to describe as pure “digital twin startups” because they increasingly sell industrial AI, construction intelligence, spatial data, energy optimization or operating software around the twin.