An important step forward for the IoT industry.
Mobile Vehicle Technology (MVT Solutions), a start-up from Pisarovina launched by Ivan Golubić and Luka Beban, has developed a solution which shortens the process of developing new IoT products in any industry from two years to two months. It also reduces costs from at least 200,000 euro as an initial investment to 300 euro a month, reports Poslovni.hr on June 23, 2018.
Ivan Golubić, a co-founder and the technical development manager of MVT Solutions, says that they have came to the idea of creating their product, which they call “IoT s a Platform” (IoTaaP), after they realised that their smart electric bicycle Grunner X, currently tested by police in Dubai, was in fact just one of many possible forms of application of the technology which they had developed.
“The same IoT system, which works in the background of Grunner X, has been integrated into the Flow smart traffic management system, which brought us victory at the Startup Factory in Zagreb in December. We have also tested it on projects in agriculture, meteorology and other fields, and in that way reached our IoTAAP solution,” said Golubić.
He added that their product includes hardware, software and a cloud platform that allows everybody, from start-ups to large corporations, to quickly and cheaply develop new IoT products. Golubić pointed out that they have a major advantage over the competition because other companies offer only sensors or only a cloud solution. “For example, Amazon offers the IoT cloud and then expects you to develop hardware, internet connectivity and cloud integration by yourselves. This requires large resources, while we provide you with all the infrastructure and let you develop your own IoT product independently of whether you use sensors purchased at Alibaba or those made by Siemens," Golubić explained.
Luka Beban, a co-founder and business development manager of MVT Solutions, says that there are 6,000 companies in Europe which need a solution that will enable them to develop their own IoT products faster. Their plan is to win ten percent of the market in the next year and a half. “There are eight of us in the team, but we do not have a service seller. We are now looking for a 350,000 euro investment to expand to Europe and hire sellers,” said Beban.
He added that there is already an initial interest from Switzerland. One international group is testing their product and its owner is in negotiations about the investment. In addition, the product will become commercially available in September, so they expect additional revenue from sales.
“In the last year, we have talked to a number of investors, some of whom gave us specific offers, but unfortunately they were only financial offers. That is why we expect other investors and potential business partners to contact us,” concluded Beban.
Translated from Poslovni.hr.
