“IoT Automation is a Queensland based emerging company which has commercialised an AI-assisted lighting system that dramatically improves workplace safety and operational efficiency within the multi-billion-dollar underground mining sector.
We have recently secured a worldwide patent for the technology and have immediate plans for further product variations to extend our market. IoT is profitable and cash-flow positive. We are already generating significant industry interest with the system presently installed in several world-class mines.
We aim to raise additional capital of $4m to rapidly scale up our operations and secure a dominant position in the global market.”
Rob Paine, Founder, IoT Automation
Underground mining involves the construction of underground tunnels, blasting and removal of ore. Workers are exposed to substantial risk to life from blasting, seismic activity, toxic gases, explosion, fire and vehicular collisions.
Environmental conditions, operational workflows and events constantly change the safety status of locations within a mine. Workers don’t know in real-time which zones are safe or unsafe.
The Firefly Smart Lighting System provides underground mining operations with the ability to indicate safe, unsafe work zones and provide visual alerts for evacuations – all in real-time. The system uses AI to interpret various environmental and location sensor data (seismic, smoke detectors, RFID tags on individuals and vehicles, etc) to provide intelligent illumination that communicates critical safety and workflow information.
IoT has secured a worldwide patent for the Firefly Lighting System and first-mover advantage. The entire system has been conceived and developed in house. Several additional R&D extensions are planned to be patented. The standalone system may be integrated with additional 3rd party technologies to provide enhanced capabilities. Consequently, Firefly provides the base platform for a range of extensions.
The IoT team is bolstered by its founding members who bring together decades of mining technology and engineering experience. In-house disciplines include electronics and communications networks, mining and civil construction, electrical engineering and new product development. Funding is to be partially utilised to bring on additional management and sales capabilities.
IoT is seeking to raise $4m in return for 20% of the issued capital of IoT Automation Global Pty Ltd representing a valuation of $20m.
This offer is restricted to sophisticated and professional investors.
IoT intends to capitalise on its first to market position and plans to become the dominant force in the provider of underground and light industrial safety and workflow systems. Further product variations, patent extensions, global distribution agreements, strategic alliances and enhanced production efficiencies provide immense scope for growth into new markets and ever-increasing valuations.
- 1st to market with a fully commercialised game-changing solution
- Secured International Patent with multiple high-value points of the invention
- Utilised by several world-class mines
- Pilot programs underway with leading global miners