Twinner

About Twinner

Twinner GmbH developed a hardware and software solution to create a "Digital Twinn®," a comprehensive virtual replica of a physical vehicle. Founded in 2017 by Jozsef Bugovics in Halle, Germany, the company aimed to bring greater transparency and trust to the automotive retail market, particularly for online used car sales.

The core of the business was the "Twinner Space®," a proprietary vehicle scanner that used multispectral sensors and lasers to capture a detailed 360-degree view of a car, including its underbody, interior, and exterior. This process generated a rich dataset that could reveal minute details, such as scratches, small dents, and even repainted areas from prior accidents, creating a digital record of the vehicle's condition. This technology was developed to address a critical barrier in online car purchasing: the lack of trust and certainty for buyers who cannot physically inspect a vehicle. Twinner's model targeted business clients such as car dealerships, fleet managers, leasing companies, and online marketplaces. The company did not sell the scanners but operated on a pay-per-scan basis, allowing clients like dealer groups to digitize their inventory without a large capital investment.

The company showed early promise, securing a total of $47.6 million in funding over two rounds, including a significant Series B round of over €40 million (~$47.6M) in 2021. This investment was intended to fuel technological development and international growth. Twinner established strategic partnerships with major industry players, including Volkswagen, MOSOLF, Sojitz Corporation, and CarNext, to integrate its digital twin technology into their operations. However, despite its technological advancements and significant funding, the company struggled to achieve profitability due to high development costs. After failing to secure a new investor, Twinner filed for insolvency in late 2023 and ultimately ceased operations in March 2024.