The recent closure of Germany-based Twinner, a company specializing in car scanning technology, sends ripples through the automotive industry, highlighting the volatile nature of the Car Scanner Companies sector. Despite developing advanced technology to create digital twins of vehicles for online sales and inspections, Twinner ceased operations after failing to secure further investment for its insolvent business.
Twinner’s innovative approach allowed for the creation of detailed digital representations of cars, both interior and exterior. This “digital twin” technology offered a virtual counterpart to physical vehicles, enabling potential buyers to conduct thorough inspections remotely, streamlining the online car buying and selling process. According to the company, their scanners provided an identical data record, facilitating anytime, anywhere vehicle assessment and transactions.
Despite reaching out to over 200 strategic partners globally in the past six months, Twinner could not secure the necessary funding to continue. Founded in 2017, the company had raised $100 million and partnered with significant players like CarSale24. Twinner expanded with subsidiaries in Hungary and once boasted 150 employees. However, by early 2024, staff numbers had dwindled to just 18, and the company operated 16 scanners across German car dealerships. Even with efforts to find smaller-scale solutions, the company ultimately had to halt its mission.
The insolvency proceedings are being managed by law firm Flöther & Wissing, with ongoing support for existing customers for a limited period. Twinner’s farewell message on LinkedIn acknowledged their journey as a “failed moonshot,” but expressed hope that their pioneering work in car scanning technology would contribute to future advancements in the field. The closure serves as a stark reminder of the financial hurdles and competitive pressures faced by car scanner companies striving to innovate within the automotive marketplace.
