Quantify claims to be a first mover in the IoT market and “primarily a developer of hardware and software devices that enable the monitoring and management of the next generation of internet enabled devices (such as lighting, power, heating and cooling systems) installed in buildings.”
The company says its patented flagship product, the Q Device, “provides real-time evaluation of environmental and risk factors for building occupants, as well as proactively managing services and utilities to ensure the highest levels of efficiency are achieved – for example, maximum energy efficiency – to create truly intelligent buildings.”
According to its prospectus the Q Device “replaces AC light switched/dimmers and power outlets with intelligent devices to provide real time evaluation of environmental and risk factors for building occupants as well as proactively managing services and utilities to achieve the highest levels of efficiency – for example maximum energy efficiency – to create truly intelligent buildings.”
It says its unique approach removes the need for dedicated gateway devices or communications hubs and provides a seamless communications solution for all connected devices.
“The Quantify Technology Framework utilises standards based communications over a wide range of wired and wireless formats to ensure future interoperability and our core control and reporting API will be available for application developers and partner products,” the company says.
it plans to use the $5m raised for further research and engineering, sales and business development and working capital.
Quantify says its near-term goal is to build a sales pipeline to enable high-volume, cost-efficient manufacture of the Q Device to maximise product profitability. This will be focused on large volume delivery of product via new high volume constructions; iconic commercial and enterprise projects with delivery of the Q Device aimed for the second half of 2017.
Quantify’s staged commercialisation strategy
The company has set out a staged commercialisation strategy targeting four distinct phases, which it aims to target in the following order.
- Energy management: the company’s first feature set offering potential savings to consumers in the form of power savings and delivering the wall mounted autonomous compute power required for future product and solution delivery;
- Behavioural and environmental sensor networks: this builds on the energy management platform by adding sensors and features with improved software analytics via interchangeable components, key to Quantify’s modular design;
- Retirement living market: this uses the additional sensors, features and improved software with further developed algorithms and functionality to aid retirees living at home and in facilities by providing risk assessment, lifestyle reporting and other assistive living functionality; and
- The intelligent buildings market: this uses additional and ongoing upgrades of user features and functions to deliver a flexible, upgradable, autonomously intelligent building.
The company’s managing director is Mark Lapins who has held the post since December 2013. He is described as “a leading innovator in the field of Internet Protocol and large scale network communications technology and solutions” who has “successfully built up and sold two technology companies previously, one of which was acquired by global company Schneider Electric in 2008.”
According to his Linkedin profile that was Vieo systems, described as “a leader in converged communications solutions that provided real time risk assessment of retirees in their homes and other services for the retirement living industry.”