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Rapid IoT development of Electronics, Software, Firmware.

Russia, Republic of Tatarstan
Market: Internet and IT, Electronics, Drones, Gadgets , Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 19.11.2019
Min investment
$  250.000
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Total required
$ 5.000.000
Rating
equalizer 394 из 1000
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Idea

Mircod is the first company to offer a completely automated platform for rapid IoT development. Mircod’s “drop and drag” interface allows everyone (technical and non-technical users) to design and develop new IoT infrastructure and devices.

Current Status

The fully operational company with Offices in Russia, USA, Canada and Europe. (50 engineers)
Early proof of concept demonstration.
Revenue at 2018: $150.000.00
Revenue at 2019: $1.500.000.00
Projected revenue at 2020: $4.500.000
Link: https://youtu.be/7pxBJwnn17U

Market

With less than 1% of things connected today, the IoT market continues to expand and is expected to grow to $661 billion in 2020. By 2020 it will be responsible for generating 22 times the current data traffic, with 40% of all data being generated by sensors. It will add over $10 trillion to global GDP doubling the US economy.
While 94% of companies have seen a return on their IoT investments, it will also drive trillions of dollars in infrastructure upgrades while reducing 25% in maintenance cost and 35% in downtime.
Mircod will generate revenues through usage fees for:
- IoT as a service (fully automated).
- IoT service model as a Joint venture (with market leaders who do not want to take on the technological obligation).
- White Label Solutions (one-time fee for a turn-key solution).
- Fees and maintenance services related to all of the above.
In addition, the company sees tremendous revenue opportunities in the area of “big data” as well as peripheral services, referrals, and subscriptions.

Problem or Opportunity

Pushed by the demand for more and “bigger data”, the drive to develop new and innovative IoT devices cuts across all markets, industries, and continents. The problem for developers at all levels is that are many and varied ”components” in the IoT develop chain. From multiple hardware and software development segments to the Integration of multiple API’s, certifications, security, storage as well as analytics, how do you go - from
Sketch to Scale. For small companies with an idea, it demands resources and funding, while established companies lacking a technology base need to “leapfrog” into their existing markets. For either it is expensive.

Solution (product or service)

Mircod’s rapid prototyping platform for IoT development simplifies expedites and streamlines development from Sketch to Scale for companies of all sizes and levels of technological expertise. It serves as an “Open Source” Development Platform and One-Stop- Shop for IoT development.
The Mircod platform is creating a complete modular IoT eco-system consisting of the following segments:
- PCB’s, Chipsets: SiP, SoC with Over the Air (OTA) updates, 3D and mock-up
prototyping.
- SDK/API Development Kits: iOS, Android, Windows, Smart TV, Augmented Reality (AR)
for adaption and visualization of all data.
- Secure Cloud: Amazon, Azure, Google, Samsung…..security, HIPPA compliance.
After users choose components from each segment, the Mircod AI platform assesses and selects the most compatible solutions based on criteria such as form factor, availability of parts and cost. As a modular system, the platform allows users to select only those segments that they require.

Competitors

https://www.seebo.com/
https://www.vention.io/

Advantages or differentiators

Mircod platform is capable to provide the complete turnkey solution ("sketch to scale") starting from industrial design concept and manufacturing until the fully functional, up and running engineering prototype (hardware, firmware, reference mobile application) with the assembled enclosure from the most advanced materials. All IoT products and services are coming with SDK and API and ready to be connected to the leading cloud providers (Azure, AWS, Google, Samsung, etc.)

Finance

Revenues from initial sales have already begun. The company projects significant sales within the third year of operations and becoming cash positive in year four.

Revenue at 2018: $150.000.00
Revenue at 2019: $1.500.000.00
Projected revenue at 2020: $4.500.000

Business model

Mircod will generate revenues through usage fees for:
- IoT as a service (fully automated).
- IoT service model as a Joint venture (with market leaders who do not want to take on the technological obligation).
- White Label Solutions (one-time fee for a turn-key solution).
- Fees and maintenance services related to all of the above.
In addition, the company sees tremendous revenue opportunities in the area of “big data” as well as peripheral services, referrals, and subscriptions.

Money will be spent on

R&D, Sales, and Marketing, Strategic Partnerships.

Offer for investor

Current company evaluation $15.000.000.00 pre-money.

Risks

The company founders have proven successful tracking records, including NASDAQ IPO, previous company acquisition by Bloomberg and a few more interesting cases.

Incubation/Acceleration programs accomplishment

Skolkovo

Won the competition and other awards

SMMT, CES 2018, Red Dot Awards

Invention/Patent

Patents pending.

Product Video

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address