Halle (Saale), September 2021. Car sales are booming: worldwide car sales are expected to reach 69.8 million vehicles in 2021. The soaring demand, combined with less new vehicles in the market, due to the ongoing shortages of semiconductor chips are fuelling the online used car business, a segment showcasing continuous growth. One of the key prerequisites of building a successful e-commerce space for used cars is creating trust with the buyers through a transparent and convincing online vehicle analysis and presentation, achieving a realistic valuation of the vehicle. Twinner is establishing itself as one of the key technology providers of digital car sales with its Twinner Space®. The device can take an exceptionally close look at any vehicle. The results are available online and enable both a viable calculation of the sale price and a profound inspection. The multispectral surface analysis of the Twinner Space® extends the offering of Twinner, allowing an even more precise analysis for vehicle inspections.
More than you can see: Multispectral surface analysis
The multispectral surface analysis of a car can be carried out in a Twinner Space® within the shortest amount of time. Highly sensitive industrial cameras, an in-house developed multispectral device and a complex algorithm ensure that the smallest irregularities can be uncovered. The principle: the car paint reflects the light generated by the Twinner Space®, while the cameras record the various wave lengths. Even slightest differences in the contrast of the images recorded can inform about possible divergence or irregularities of the paint. The precision analysis of all reflections of the vehicle surface covers not only visible light, but also light invisible for the human eye. Damages, repainted finish and exchanged parts can be visualized and automatically documented.
The difference in the composition of the car lacquer finish and the varying characteristics in aging are specific evidence for replaced or repainted parts of the chassis, unveiling the history of the vehicle. Even the smallest traces of foiling can be uncovered, indicating the former use of the vehicle (e.g. usage as taxi or by driving schools). This technology differentiates Twinner from other players in the market. Other solutions, such as thermography require significantly more time to inspect a vehicle. Additionally, the scanning process of the Twinner Space® is fully standardized within a controlled environment, allowing replicable results independent of the time and place.
In a pilot project with a European OEM, around 2,000 vehicles were scanned with this new feature. The pilot has successfully proven the technology, uncovering 13% additional repainted or exchanged vehicle parts, which went undocumented during the traditional manual inspection.
Transparency in the vehicle valuation – from the family car to valuable vintage cars
The standardized and optimized processes of the Twinner Space® generate value especially in the valuation of large vehicle fleets, such as returns from leasing and company fleets, which are then remarketed.
Twinner further delivers valuable data points for the valuation and assessment of high-value vintage cars. The Leipzig based Classic Lounge, specialized in the restauration of vintage cars has been using the modern sensor technology for a precise valuation of their vehicles. The precious four wheelers can be digitally presented around the world, up until the smallest details, thanks to the Digital Twinn®.
Financing round successfully closed
The most recent financing by well known investors is further supporting the growth of the company. In the recently closed series B financing round, the company in the field of vehicle digitalization could convince new and vital investors. Thanks to a total investment of over 40 million Euros, Twinner belongs to an exclusive group of technology companies with international ambitions. The company wants to further advance technological development and, in the medium term, create a standard for the visualisation and evaluation of vehicles to establish a fair and transparent automobile trade worldwide. Currently, the company is aiming for targeted growth through partnerships with established players in the automobile trade, such as CarNext, a leading European online marketplace for high-quality used cars.
The Japanese industrial and automotive conglomerate Sojitz Corporation, an international leader in automotive assembly, wholesale and retail, has also been won as an investor and strategic partner. Together with Twinner, the corporation wants to accelerate the digitalisation of the Japanese automotive market.
Twinner also plays a central role at Volkswagen. In a pilot project of the manufacturer for comprehensive vehicle digitisation, tens of thousands of Digital Twinns® of vehicles have already been generated. There is also a close cooperation with MOSOLF, one of the leading European automotive logistics companies. At its location in Kippenheim, Baden-Württemberg, the company generates Digital Twinns® for the digital remarketing of returns from the employee leasing of various car manufacturers.
About Twinner: Founded in 2017, Twinner® is on a mission to revolutionise the automotive industry. Twinner®'s technology makes it possible to create digital images of vehicles so that they no longer need to be viewed in person at specific times in specific locations. In this way, the company brings transparency, security and trust to one of the largest sales markets in the world. Twinner® obtains an incomparably large data set from each vehicle, based on which a Digital Twinn®, i.e. a "digital twin", is created, with which the customer can virtually see more than if he were standing in front of the vehicle themself. The start-up company from Halle has a team of more than 150 experts, all of whom have extensive experience in the automotive and start-up sectors as well as innovation sectors.