Project Tracker has built out and is monetizing the critical wireless network infrastructure underlying the proliferation of Internet of Things (IoT) devices, initially in Hong Kong, Australia and New Zealand and with the strategic intent to expand throughout Asia.
By 2020 it is estimated that 20 billion IoT devices will be inter-connected driving a data revolution as vast amounts of information is captured, analyzed, and processed.
Typical wireless networks (e.g. 3G, 4G/LTE, 5G; Wi-Fi) are inadequate to the task as they are optimized for high bandwidth (e.g. video streaming, measured in Megabits per second) rather than the low bandwidth (e.g. measured in bytes) sufficient for IoT updates, resulting in high cost, high power consumption, large size, short range and other complexities.
A first mover in its sector, Project Tracker has built and operates a proprietary wireless Low Power Wide Area Network (LPWAN) that is tailored to the specific needs of IoT devices and solves the issues described above.
Advantages of Tracker’s LPWAN Infrastructure
Range: Sensors can connect up to 50km away from gateway
Low Cost: Customer pricing 10 times cheaper than 3G
Low Power: 100 times more power efficient than 3G
Secure: Security built-in at every level, from devices to cloud
Coverage: Currently covers 97% of HK population,
94% in New Zealand and 82% in Australia
Sources of Revenue
- Subscriptions for access to Tracker’s LPWAN networks
- Global sales of internally developed sensors
- Services / consulting developing client solutions
- Roaming charges for sensors ‘visiting’ Tracker’s networks
Vertical Markets (examples)
SMART BUILDING: security, space utilization, HVAC monitoring
SMART UTILITIES: water & electricity monitoring, remote meter reading, leakage detection
SMART INDUSTRY: asset geolocation, process automation, predictive maintenance
SMART CITIES: smart parking & lighting, waste management, traffic monitoring, air quality
E-HEALTH: aged care at home monitoring, equipment tracking & monitoring
SMART AGRICULTURE: air & water quality, soil & irrigation monitoring, animal tracking, supply chain management
The network infrastructure employed by Project Tracker (developed by a European group) will be operating in 60 countries by the end of 2019, enabling increasingly global solutions for clients.
- 3 IoT networks
- 45 team members
- 350 ecosystem partners
- USD32 million raised
- 2m+ connections across industries; $500m exp. contract value (5-years)
- 20m connections pipeline (170+ opportunities)
Customers and Partners (examples)
Investment and Use of Funds
Seeking USD 17 million (Series B2) to fund expansion of Sales, Customer Success, Marketing and Product Development to accelerate revenue growth.
Australia and Hong Kong