Logidot

Track, analyse, optimise

Summary

We are a full-stack industrial IOT company helping warehouses and factories track, analyse and optimise the efficiency and safety of material handling operations in realtime. We combine uniquely accurate, low cost and plug&play indoor/outdoor location tracking sensors with a real-time intelligence platform. Our solution works as a stand-alone solution or seamlessly integrates into a warehouse or factory management system (ERP, WMS or MES) giving operators and managers actionable data to continuously improve performance and safety.

Our vision is to empower industrial companies to become more efficient, safe, and sustainable.

Seeking to raise >£1200k for an 18-month runway, of which £200k is committed.

Investment Interview

Explain what your venture does.

Industrial IOT company helping warehouses and factory track, analyse and optimise material handling operations in realtime.

What stage is your business?

Sales.

Describe your advisers.

Richard Green (ex CEO of Ubisense, pioneer in RTLS), Peter Collins (ex CEO Permasense), Brice Ollivault (VC and PE professional).

Give an overview of your startup's financing history.

Raised ~700k from angels to date. 70k in Innovate UK grant. 300k in resources (eg supercomputer time).

Explain the ownership structure of your company.

Niccolo Corsini (53%) , Vasileios Pandis (5%), Startupbootcamp IOT (4%), Spring S.A (38%).

How many employees do you have?

Seven employees.

Please provide the name of a lawyer, who will represent you for the upcoming investment round.

Elliot Cowan (CMS).

How much money are you seeking to raise in the current round?

Looking to raise another £1-1.5million.

Do you have any existing commitments to the current round?

£200k committed.

Explain why you are raising finance.

We are looking to hire sales, marketing, customer support and field engineers team to grow our presence in the UK and starting 2022 in the EU.

The financing will give us 18 months of runway and help reach >500k ARR.

Please explain the history of your venture.

Founded by Dr Niccolò Corsini in 2016, at the time a research physicist at Imperial College, Logidot was born to solve the issue of indoor location tracking at scale using innovative and affordable technology. The team was joined by Dr Jorge Gomes, José Neves and Dr Vassilis Pandis in 2018, Diogo Condeco in 2019 and supported by many employees, expert advisors and interns along the way

Please explain the longer term, future vision for the Company

Business Model: Logidot’s hardware and SaaS OPEX model has been validated with existing pilot partners and includes a one-off installation fee with hardware purchasing and leasing options (£15k for typical mid-sized warehouse) plus annual subscription fee proportional to number of pickers/vehicles tracked (£50-100/asset/month, average £30k/year. For factories also offer tool- tracking at similar price per tool.

Route to market: Logidot will acquire customers both through direct sale in UK and partnership with resellers and system integrators in EU and beyond. Key partners include Arco, SAP and IBCS group.

Explain the core technologies and/or service propositions of your venture.

Logidot Components

1. Sensors - high-performance data collecting hardware. In particular a real-time location system (RTLS) for accurate location and movement using proprietary UWB tracking indoors and GPS for outdoors. Additional sensors such as accelerometer, gyroscopes, thermometers, magnetometers... can also be included.
2. Control Tower - an online IOT platform that analyzes data and optimises operational decision making
3. Services - operational intelligence, advisory, support, and bespoke solutions.

Does your commercial strategy rely on intellectual property assets?

Yes.

What commercial progress have you made?

Logidot’s award- winning solution has been successfully (paid) piloted across 7 UK/EU warehouses with interest from key logistics service users and providers (e.g. Arco, XPO, Zehnder). We have developed reseller partnership with Arco (leading Health and safety equipment supplier in UK with >250k customers). We have an active pipeline of >500 leads and generated ~70k in sales in 2020.