Last week, one of our competitors Ayla Networks (who are Edge Centered IoT platform) raised $60 Million in Series D at an estimated valuation of about approximately $250 to $300 Million from Institutional investors. This pegs their valuation at 35 times of their current revenue base.
One of our lead investors said to me "Mobodexter is probably undervalued". I said, "Probably yes, as we are at 20X of our revenue base" to that statement and gave him the rational. The rationale is that we want to make the valuation realistic for everyone who wants to invest in our company until the end of this year. With a guaranteed revenue contract for 100 Million, our revenue trajectory is going to be looking better than our competitor Ayla Networks or FogHorn systems based out of the Silicon Valley. Neither of them will have the software capabilities we are rolling out in our Jan 2018 Release of Passmer 2.0 which will have industry's first Mico-Services based software for the Edge based on our IP. Micro-Services software approach gives extremely flexibility to our clients from usability and billing standpoint much like how it is done in IoT cloud software today.
We also strongly believe in the fact that connected devices go beyond IoT into robotics, drones, and blockchain as there can be no future smart city without integration capability for all support capabilities under one platform. Also, usage of a platform can be in any domain beyond the realm of IoT today and we encourage our Paasmer development community to think beyond the obvious use cases of today. One integrated use case envisioned is in the arena of Healthcare where sensors track vitals of a patient, a robot helps the patient as an attendant and a medical drone can deliver medical supplies in emergency situations triggered by the sensors or the robot. The payment for all these services is handled via virtual currency Blockchain. We are positioning ourselves to be the only player in the market who can deliver this solution for a Smart City.
We want to make sure you are not missing this opportunity. We would love to have as many of you onboard along with the other 375+ and growing Wefunder investors. Join us to be a part of this success story.
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