This Canadian success story is part of this week’s ICT sector series.
To learn more about export opportunities for companies in this sector, please read Canada’s ICT sector is built for exporting.
When Montreal’s mnubo launched in 2012, its very first sale was to the United States. Its second sale came along soon after and it wasn’t a Canadian customer either — this time it was a Hong Kong smart-watch maker.
Knowing what the company name stands for is helpful in understanding its mission: the “m” in mnubo stands of machine, as in “machine-to-machine,” which is what the company’s field — now referred to as the Internet of Things — was called before its new handle came along. And “nubo” is the word for cloud in Esperanto.
The company’s business, which is in fact a service, is to help makers of Internet of Things products become data-driven and to help them transform and use the data they are collecting from their connected products. Those products could be anything from your smart-watch, household climate regulator, Agtech (e.g. irrigation systems) or industrial equipment (e.g. HVAC).
“The market calls us an Internet of Things analytics company,” explained mnubo CEO Frederic Bastien. “We’re a service platform and our customers make all sorts of very innovative products — from smartwatches on up to agriculture and manufacturing equipment. We have the full spectrum of consumer, enterprise and industrial products and we transform that data.”
In addition to collecting, analyzing and transforming the data, the company will also enrich it. For example, an agricultural equipment user might want to know what the weather was while he was running his equipment. mnubo can give him that.
“We’ll do maps, analytics and statistics on those data flows,” Bastien said. “We make the results available through an application programming interface (API) so our customers can integrate them back into their business processes or even the end-user app if they like.”
The company actually does have an API to allow many types of customer queries such as energy consumption or the probability of the failure of a machine.
mnubo was launched in 2012 by four former colleagues of Blueslice Networks. Today, it has grown to 50 employees.
“And, in the last year, we’ve processed and analyzed more than a half-billion data points from our customers and we have more than 30 clients on the platform,” Bastien said.
Today, mnubo exports to the Americas and Asia-Pacific with southeast Asia as a region of interest for future growth, particularly Taiwan, Hong Kong and China.
“We do have customers in Canada,” Bastien said. “It’s starting, but it’s taken more time to sell here. We’re still 90 per cent export.”