Digitization of assets is a trend many businesses are embracing, and Immensa Labs is no exception. Immensa, founded in 2016, leads the industry in additive manufacturing. They convert 3D models into digital assets, which are stored in a cloud base warehouse, enabling their customers from all over the world easy access.
Though the company services the GCC region, they have a strong representation in Dammam, Dubai, Sharjah, and Kuwait. Their additive manufacturing capabilities allow other companies to reduce their overall costs. Also, they recently gained two 3D printing companies to help meet the demand for parts.
Fahmi Al Shawwa, the company’s founder, has a dream of creating the area’s largest additive manufacturing platform of spare parts. However, technical issues and the lack of digital inventories are hindering the goal. Those hurdles are requiring Immensa to create its own part digitization process. As a result, the company now offers 3D manufacturing and digitization of parts. Al Shawwa’s goal is to have over a million parts in their digital warehouse by 2023. Right now, they have approximately 5,000 digitalized products available.
Last year, Shorooq Partners invested in the company. The company is known for backing ambitious startup companies. Tina Daher, a Shorooq Partners Senior Investment Professional, explains that they were attracted to the company’s unique technological strengths. Daher states that in a world still affected by chain supply issues, their technology prevents delays and puts them ahead of others in using smart technology. Both companies have the shared goal of creating more competitiveness within their industry. They believe now is the time to take advantage of the momentum within the additive manufacturing industry.
A few years back, Australia’s biggest waste management firm faced unsatisfied investors and struggled to recover from a debt of about $2.1 billion. Cleanaway lacked a cohesive strategy and strong leadership and failed to prepare for changes to the waste management landscape. Currently, it has grown more than 120 places on the market index of ASX and increased market capitalization from below $1 billion to more than $5 billion.
Vik Bansal InfraBuild, the Managing Director and CEO of Cleanaway, was behind the transformation and announced transitioning from the role in June 2021. Fund managers have credited Vik with the success of the company.
Vik knew that the world required to change how they saw its waste, so instead of making small changes to the company, Vik Bansal created a foundation on which the company and country would be able to build hence shifting how waste is seen from a problem that needs to be dealt with to a resource that brings value.
Vik accepted the position at Cleanaway despite the company struggling and having a high turn-over in management because of the people that worked there. His motto during the transition was to take the firm from good to great. Vik is the CEO of the steel recycling and manufacturing company InfraBuild.
Vik is known for pursuing great challenges in his career and is recognized for how he can drive growth. Mr. Bansal was born and brought up in Karnal, India. He pursued a bachelor’s degree in electrical engineering that earned him Honors.
Vik also has a postgraduate diploma in computer since and an MBA. He worked as a process animator in Alstrom and later made a shift in his career by applying to be a project manager at the same organization. It was a huge risk since the product had not been tested in the markets yet; however, in three and a half years, he made it the most profitable product in the firm. This led to him heading the product position and strategic marketing for the Australian market. Refer to this page for more information.