The world has changed and tele-work, tele-presence, fully autonomous remote industrial environments are part of our every day life. We've built the internet connected shelter systems for autonomous field robots monetise them through a AI-enabled digital services marketplace. No geographic barriers, no need to travel.
We started commercialization over the past year, with majority of our digital services sales taking place in Singapore for now, targeting the built environment industry vertical. Our robotics shelter systems sales, currently sold separately and targeting incident and crisis response, began international shipments to Australia, Mexico, Brazil, France and US - and local deployment in Singapore. Our revenues have grown 100% yoy so far and we are looking to grow around 500% this year. Our sales pipeline has now grown to around $22M already.
2 main application areas: Industrial asset inspection and Crisis/incident management. Each has several industry verticals and each vertical has specific use cases. One such use case, building facade inspection - which started commercial sales in 2019 in Singapore, is addressing a total Singapore-specific opportunity of around 30,000 buildings or 5000 buildings a year. The company is currently expanding reach into Hong Kong, Japan, Australia, India, UAE, Brazil, and US - with a combined market in the hundreds of thousands of buildings. This is just one use case and the company has several dozen planned across multiple industries.
Problem or Opportunity
Expert safety inspections of large industrial assets and sites require experts to travel to various locations, deploy scaffolding or various types of equipment, and many times put low-cost labor at heights and at risk to collect information (images) of structural defects or damage - all of which is then reported in a paper format. The process is expensive, takes a long time, and engages human safety risk. A new problem raised by COVID-19 and its related travel challenges, makes it difficult for experts to to go to sites located abroad or in difficult regions to check for structure damage, corrosion, leakages etc.
Solution (product or service)
H3 Dynamics is building a tele-robotics infrastructure tied to a computer vision and machine learning software stack. The result is a digital services platform that helps large corporates, inspection and certification bodies, government agencies and civil engineering firms automate the entire inspection process of challenging structures, and remotely located sites. Such solutions offer a faster, safer, lower cost, more precise way to check for defects, track and maintain structures at a city-wide, regional or global scale. Physical world data input can be from cameras and other measuring devices carried by humans (including cellphones), ground robots, drones, underwater vehicles, trains, automobiles. The company has set up its first autonomous remote aerial data capture system using a shelter system for drones that connects to the internet, and send acquired data to the company's AI on cloud.
We are creating a new category (field tele-robotics associated to digital services). We have competitors in individual digital service offerings, and on the certain aspects of tele-robotics - but no competitors associating both HW and SW eco-systems. We want to be the platform through which software solution providers could access a global market of enterprise clients, with deployability at scale using a pre-installed network of connected robots.
Advantages or differentiators
End to end solution - easy to adopt for end users. Platform approach to turn potential competitors into partners and clients We don't make the robots/drones - we make the shelter systems that connect and recharge them in the field
The company has raised $16M so far and expects to hit breakeven on EBITDA next year (2021).
SaaS subscription to the digital services platform. Robots perceived as "free" to the end user, which purchases outcomes rather than infrastructure.
Money will be spent on
Team growth to deliver existing customers Launch 10 new software products Sales and BD
Offer for investor
ROI of 3X to 5X in 5 years. We are in the final stages of a Series B, and our goal is for this to be the last private round.