In multiple updates from the Apac region, Australian energy management firm Simble plans to list on the ASX while Movida Japan has backed a $4.3 million investment in Shoof. Meanwhile, TEPCO has made a strategic investment in Electron.
Simble to list on ASX
Energy management technology firm Simble is planning to conduct an initial public offering (IPO) on the ASX in February. The firm is planning to raise up to A$7.5 million ($5.99 million) at A$0.20 per share, valuing the company close to A$18 million.
The public float comes as it seeks to commercialise the Simble Energy Platform and adopt a channel partner sales model. The new energy platform is intended to be the main revenue growth driver for the firm.
Founded by former Accenture consultant and Viewlocity vice president Fadi Geha in 2009 under the trade name of Acresta, it rebranded to Simble in 2016. It intends to expand its channel partner network throughout Australia. the UK and New Zealand, targeting energy retailers and service providers, telecoms operators, energy consultancies and financial services.
Its customer base is mainly enterprises and small businesses, who use its software to track and analyse real-time energy usage. The company also offers IOT devices such as smart metres, switches and beacons and software for mobile work forces.
Movida Japan backs $4.3m investment in Shoof Technologies
Shoof Technologies Incorporated, a provider of advanced wireless technology for the Industrial Internet of Things (IOT), has raised $4.3 million in seed funding in a round led by Kleiner Perkins and Movida Japan, an affiliate of Mistletoe.
Shoof offers a cloud platform and equipment – including base stations and tags – to track assets in motion in real-time. The company claims its technology is applicable to a wide range of industrial markets, with its initial focus on manufacturing and transportation.
“In today’s $750 billion logistics market, one of the biggest problems for Industrial IoT is building a cost-efficient solution for managing and monitoring an exponential amount of assets indoors,” said Wen Hsieh, general partner at Kleiner Perkins. “Shoof’s leading technical approach is poised to transform how manufacturers move their track-and-trace logistics into the future.”
Shoof will begin product trials with some of today’s largest manufacturing and logistics customers in early 2018.
TEPCO invests in Electron
London-based Electron, which harnesses blockchain technology to establish more efficient, flexible, and reliable systems for the energy sector, has secured financial backing from the Tokyo-listed Tokyo Electric Power Company Holdings, Inc (TEPCO).
Financial terms of the investment are undisclosed. The strategic investment will see the firms collaborate to develop decentralised systems in energy transactions powered by the blockchain.
New assets joining energy networks at both the transmission and distribution levels have driven the need to create a “robust shared infrastructure that can identify and record the properties of these assets”.