GNSS (GPS) remains an indispensable feature for most mobile IoT devices however as it is extremely power-hungry, it drains their batteries quickly. This increases significantly the OPEX when deployment of thousands of IoT devices should be maintained while other applications are sacrificing the possibilities given by location due to power. Loctio innovative technology migrates all those position computational calculations from device to Cloud or Edge. Hence by its Location as a Service (LaaS) Loctio delivers a sustainable and scalable business model.
There is already a PoC while with two customers (one chip maker and one IoT solution provider) we are working on an MVP. In less than three months the Service will be publicly opened for allowing companies, universities, or hobbyists to test it.
- Asset tracking - Wearables
Currently more than $10bn, it will be exceeding $30bn by 2029
Problem or Opportunity
Partner archetypes: Chipmakers willing to sell IoT chips with low power positioning capabilities, Telecoms/Cloud providers willing to enhance their services portfolio with an advanced location service Customer archetypes: IoT solution providers willing to deploy millions of IoT device featuring accurate positioning - Cost for replacing or recharging is ranging between $1-20 per device per year depending on the use case - Asset trackers and some wearables that need to be at the field for months or years do not fully exploit positioning capabilities - Less power consumption for positioning could enable batteryless applications backed solely by energy harvesting
Solution (product or service)
The product has two parts: a) The IP (software, hardware, or both) residing at the IoT device b) The Cloud or Edge backend that runs all the sophisticated processing
Please refer to the respective deck slide.
However conventional solution dominates the market today (more than 95%) and there is a 5% of alternative approaches like ours attempting to re-segment the market.
Advantages or differentiators
- Being able to accurately calculate the position by operating for just a handful of milliseconds - ML and trained models are playing a central role - 5G positioning merge
Main revenue stream: Location as a Service (Pay-as-you-Go and other pricing models) Auxiliary revenue streams: Licensing of the IP to chipmakers, White labeling the service to Telecoms and Cloud providers
Pricing strategy for Pay-As-You-Go: ~ $1 per 10.000 position requests
Pursuing 2-4M revenues per year within a timeframe of 5 years
Customer segments: (1) IoT solution Providers, (2) Chipmakers (3) Telecoms/Cloud providers (1) -> LaaS (2) -> Lisencing of the device IP (3) -> Leasing of the service
Business channels of (2) and (3) will be utilized for reaching out (1)
Money will be spent on
a) Incorporating 5G positioning to our LaaS b) Designing our own RFIP c) Scaling up our Cloud/Edge
- Market actors decide to stick with the conventional approach due to significant switching costs - New technologies for batteries, energy retention, or energy harvesting to mitigate adequately the issue without shifting from the conventional approach
Incubation/Acceleration programs accomplishment
Won the competition and other awards
I4MS Quality Label
In process of filling 4 patents and we are working on 2-3 more on top