Photo - Loctio P.C.
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Loctio P.C.

Reducing the power consumption of mobile IoT devices

Greece
Market: Another
Stage of the project: Prototype or product is ready

Date of last change: 20.01.2021
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Idea

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.

Current Status

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.

Market

- 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

Competitors

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

Finance

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

Business model

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

Offer for investor

Post money evaluation ~ 30M

Team or Management

Risks

- 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

None

Won the competition and other awards

I4MS Quality Label

Invention/Patent

In process of filling 4 patents and we are working on 2-3 more on top

Photos

Photo 1 - Reducing the  power consumption of mobile IoT devices
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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