Australian Massive Internet of Things (M-IoT) company, Thinxtra has completed its pre-IPO funding round with $5 million raised from new and ongoing investors, including Blue Ocean Equities.
Thinxtra provides sustainable end-to-end M-IoT solutions that create additional revenue from the insights of untapped data. It is the owner and operator of the only public 0G Network dedicated to the IoT in Australia, New Zealand, Hong Kong and Macau.
Thinxtra will use the capital to expand investment and partner coverage in Australia, New Zealand, Hong Kong and Macau, ahead of a planned public listing this year. This includes the ramp up of sales and marketing resources, and significant drive in the implementation of its inaugural partner program.
Thinxtra CEO, Nicholas Lambrou said, “Thinxtra has matured well beyond the stage of proving the impact and return on investment (ROI) of our Massive IoT technology. We can now completely transform how organisations manage their assets.
“Rising costs and environmental responsibility are putting pressure on organisations to look for operational and energy efficiencies which are being achieved through the access of data insights from M-IoT. We are combining this new funding with our ongoing investment to accelerate Industry 4.0 applications, including energy efficiency projects, indoor air quality (IAQ) and CO2 monitoring, asset tracking, and smart building initiatives.
“Massive IoT is at an inflection point, and adoption is rising at similar rates to the broader IoT market, which IDC expects to hit US$436 billion in 2026. There is an incredible breadth of use cases for driving outcomes with digitally connected devices, sustainably and at scale, and this is spreading rapidly across value chains.”
The funds accelerate Thinxtra’s ability to establish new capabilities and co-develop innovations from its partner community to help customers manage challenges around operational sustainability, energy conservation, IAQ monitoring, supply chain resilience, and large-scale facilities management.
Blue Ocean Equities executive director and co-founder, Peter Gray said, “The IoT industry has a positive long-term outlook both internationally and locally, with among the most predictable growth scenarios for investors interested in recurring revenue business models.
“Thinxtra is a major player in this space in Australasia with a variety of attractive product and service solutions in current use and roll-out. This is the result of a highly experienced board and management team which deliver proven technologies as reflected by its strong customer base and international presence.”
Thinxtra works with Coles, CouriersPlease, Optus, Loscam, Konvoy, CORT Community Housing, AGP, PB Traffic, Programmed, LBS, IoTree and Tether, among others.