An Australian IoT Startup Won a $5.8M Contract in South Korea
Published on by Water Network Research, Official research team of The Water Network in Business
Melbourne company Freestyle Technology has revealed it has signed a $5.8 million contract to roll out an Internet of Things (IoT) water management solution for a South Korean county.
The end-to-end system of smart water meters, communications equipment and cloud-based software will be deployed to 24,000 residences in a five-year deal with the municipality of Gochang in the southwest of Korea.
The company labelled the deal as its “first significant success” in water management and stated that it beat several Korean suppliers over a grueling two-year selection process.
“It is a major achievement for an early stage Australian technology company to be punching well above its weight in highly advanced and competitive markets,” said Freestyle chief executive Mohan Jesudason.
South Korea has legitimate claims to be the most internet-connected society in the world, with high mobile and broadband penetration as well as consistently leading the global speed rankings for broadband. But even in such a technologically advanced country, the Freestyle water management platform will be the “first full-scale deployment” of its kind.
The system in Gochang will detect any water leaks among the 24,000 premises and automatically work out the best course of action after taking into account the environment and the temperature around the fault.
Customer service transforms to customer care where, for example, an alert is raised at the municipality if water consumption stops for the elderly living alone. The municipality responds with a customer visit,” stated the company.
Read more: Business Insider
Media
Taxonomy
- Sensor Systems
- Leakage Detection
- Integrated Water Management
- Water Supply
- Leakage
- Water Management
- Consumption
- Water Software
- Internet of Things (IoT)