About

IoT platform for construction and rental companies to monitor their equipment.

Solution & Product

The construction industry, being so vast, has yet to see complete digitalization of its components and processes. One of the components that still is under digital transformation is the machinery, such as power tools and valuable construction equipment. Most of the construction site managers that we reached have experienced cases regarding theft and asset misuse by their workers. Meanwhile, there is a lack of holistic asset management solutions for rapidly commissioning, assigning and transferring the aforementioned assets to the desired location of operation. The problem escalates for large construction sites (>100 assets). These cases result to immense time – loss, money consuming recovery processes that are not always feasible and often drive the project out of budget. On the other hand our solution is universal regardless of the tool be being monitored, since we provide our own external device that is being attached the outer casing, therefore commissioning of our service is rapid. Our solution is a universal compact cube that gathers vital information and the location of the equipment. It can be easily attached to all kinds of equipment and can be used remotely through Web and Smartphone Apps from everywhere in the world, since it's connected to the Internet. The user of the App can see the location of the tool and be alerted if it leaves a bounded area. They can also check how much time it was used, and whether it had overheating issues or a heavy fall.

Innovation & Scalability

-The unique selling points are: 1) Universal application of our technology with respect to competition. Brand agnostic characterization mechanism and tracking of any construction tool in any part of the world. 2) Zero entering cost for the clients. No CAPEX, only OPEX which progressively leads to thinner spending per number of tools per client. This provides incentives for holistic adaptation of our service for any construction tool per site 3) Based on accelerometer and position data, our business model can differentiate the tools stored in the inventory from the tools that operate. A flat monthly cost per tool is introduced for tracking (regardless of operation) and a cost on top of that while operating. Pricing is dynamic and is driven by the device’s sensors (either the accelerometer or/and the GPS) 4)Based on intrinsic firmware intelligence we secure the lowest possible data acquisition cost per tool over NBIoT

Traction & achievements

We have pilots in Greece and we will start two pilots in Germany and the Netherlands. Our main partners in the IoT infrastrucutre is Vodafone for Europe and du for the UAE area while we are in negotiations with another European telecom. At this moment, we have pre-sales for almost 800 devices.

Team & Why Us

The founders come from various backgrounds. CEO George Foroglou, Accounting and Finance graduate, has worked for the Greek stock exchange market and was part of the sales force for Hilti AG. His business affinity helped the team develop a solid and sustainable business model. Eleftherios Adalakis, Product Manager of the team, has recently graduated with a M.Sc. degree in Electrical Eng. And Computer Science from AUTh and is responsible for crafting use cases and evaluating potential features. Eleftherios has also worked for Hilti AG as Software Developer as well as Global Product Manager. His technical and marketing background in the power tool industry are a great advantage for the team. George Kyriazidis is about to graduate with a M.Sc. in Electrical Eng. And Computer Science from AUTh, as first of his class. George is highly skilled in technical topics and a professional in embedded systems. He has worked for Hilti AG as an Embedded Software Engineer.

Funding Needs

Please contact us for more info on Funding related needs.