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What Problem We are Solving

NetObjex is an Intelligent Automation Platform for Smart Cities and Connected Enterprises that enables tracking and tracing of assets, asset performance optimization, and reduce asset shrinkage/waste/inefficiencies, through IoT, AI and Blockchain technologies.

The platform is a hub that consists of five gateways to: IoT Devices, AI Engines, Distributed Ledgers, Enterprise Systems and Messaging Protocols.  The hub includes features such as a digital asset repository, a rules engine, payload management, dashboards and more.  

Solutions developed using the NetObjex network range from peer to peer energy trading, tracking academic credentials on blockchain, supply chain traceability, smart water metering, anti counterfeiting crypto tags, fleet management of kiosks, powering smart medical devices, and more.

About Us

Our platform utilizes IoT for data acquisition and dissemination; works with all major communication protocols; includes features such as rules engine, alerts and messaging, enterprise integration, blockchain integration, and more.  Solutions developed using the NetObjex network range from smart electricity meters, dynamic wireless electric vehicle charging, smart water metering, solar panel efficiency, fleet management of kiosks, powering smart medical devices, and more.

We leverage blockchain technology by giving each asset a unique blockchain id and this facilitates devices having a system of record that functions across trust boundaries for device discovery, authentication, communication and transaction.    Digital assets can also be attached to a digital wallet for inter-device payments e.g. car to parking meter, drone to base station etc.  Our platform integrates seamlessly with a number of private and public blockchain technologies including Ethereum, IOTA, Hyperledger and more.

Venture Highlights

Awards
  • Sep 2017: Top 25 at Spring Singapore, Singapore
  • Jan 2018: Top 20 at Capital Innovators, St Louis, Missouri
  • Feb 2018: Top 25 at PortXL, Rotterdam, Holland
  • May 2018: Top 21 at NetApp XCellarator, Bangalore, India
  • Dec 2018: Top 15 at Pioneers, Smart Energy Hackathon, Bern, Switzerland
  • Feb-Jun 2018: Accenture Open Innovations Cohort Partner 
  • Jan 2019: Quake.VC Top 50 West Coast Challenge
  • April 2019: Telecom Council - 15 Most Innovative Companies for 2019
  • April 2019: Startup World Cup 3rd place for LA Regional Finals
  • May 2019: Vodafone Top 100 Startups for 5G Launch
  • Summer 2019: MassChallenge Texas Cohort

Revenues and Customers
  • $780K in revenues in 2018
  • 14 OEM Clients using our platform across multiple domains in 4 continents

Funding
  • Oversubscribed in Round 1 Reg CF Crowfunding
  • 1 Insititutional investor - Malaysian Listed CCHB

Business Model

We make money in the following ways:
1) SaaS revenues from OEM customers.  Like Cellphone companies sell minutes, we sell events (messages from edge to cloud, blockchain transactions, etc count as events) and events are sold in bundles of 100K to 100MM, no rollover, annual contracts.
2) NRE Revenues for onboarding OEMs, and some service clients

Competitive Advantage

  • Experienced team with prior exits and pedigree
  • 14 OEM clients and scaling and accelerating towards non-linear revenues
  • Well balanced in terms of Tech, Sales, Marketing
  • Global clients and footprint
  • Solid Tech of IoT-AI-Blockchain based SaaS

Customer Costs

CAC $25K

LTV $5M

Churn 10%

Go-To Market Strategy

  • Direct Sales through internal sales team
  • Partner sales - B2B2C
  • Inbound leads

Competitive Analysis

We have credible competitors in the form of 
  • c3IOT
  • ThingWorx
  • VeChain

We believe that we differ from ThingWorx in terms of their focus in manufacturing whereas we are far more horizontal, and the dated nature of their platform.  In terms of VeChain, we are more agnostic on the edge device and blockchain support than their more propreitary approach.  As for c3IOT, they are well heeled but focused on the very large opportunities at a high price point, whereas we are far more affordable, have a turnkey solution which is more geared to the mid market.
Competitor Website
ThingWorx ptc.com
c3IOT c3.ai
Vechain vechain.org

Networking

We are open to meeting up to grab a coffee, or just to chat. We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!

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Capital

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Valuation

$11.7M

Revenue & Users

Total Users 2M

Total Users (Past 30 Days) 25K

Total Paying Users 15

Revenue to Date $1.2M

MRR $50K

MoM Growth $5K

Margins 30%

TAM SAM SOM

TAM $2.15B

SAM $500M

SOM $250M

Business Stage

Paying Customers

Business Type

Investor-Backed

Categories

Other Internet Technology

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Last Updated: 05/24/19
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