Thinxtra closes $5m pre-IPO funding to expand Massive IoT capabilities

Nicholas Lambrou, Chief Executive Officer at Thinxtra
Nicholas Lambrou, Chief Executive Officer at Thinxtra

Australian Massive Internet of Things (M-IoT) firm Thinxtra has completed its pre-IPO funding round with $5m raised from new and ongoing investors. Thinxtra offers sustainable end-to-end M-IoT solutions that create additional revenue from the insights of untapped data. It is the owner and operator of the only public 0G Network dedicated to the IoT in Australia, New Zealand, Hong Kong and Macau. Its network transmits over two billion messages monthly.

The pre-IPO funding round has raised $5m, with Blue Ocean Equities among its investors. Thinxtra will use the capital to expand investment and partner coverage in Australia, New Zealand, Hong Kong and Macau, ahead of a planned public listing this year. This includes the ramp up of sales and marketing resources, and drive in the implementation of its inaugural partner program. It will also continue to develop productised solutions for new markets.

What does the funding mean for Thinxtra?

“Thinxtra has matured well beyond the stage of proving the impact and return on investment (ROI) of our Massive IoT technology. Today, we can completely transform how organisations manage their assets,” commented Nicholas Lambrou, Chief Executive Officer at Thinxtra.

“Rising costs and environmental responsibility are putting pressure on organisations to look for operational and energy efficiencies which are being achieved through the access of data insights from M-IoT. We are combining this new funding with our ongoing investment to accelerate Industry 4.0 applications, including energy efficiency projects, indoor air quality (IAQ) and CO2 monitoring, asset tracking, and smart building initiatives,” Lambrou added.

“Massive Internet of Things is at an inflection point, and adoption is rising at similar rates to the broader IoT market, which IDC expects to hit $436 billion in 2026. There is an incredible breadth of use cases for driving outcomes with digitally connected devices, sustainably and at scale, and this is spreading rapidly across value chains,” Lambrou further commented.

The funds accelerate Thinxtra’s ability to establish new capabilities. The firm will incorporate and co-develop innovations from its partner community targeting emerging opportunities across the region to help clients manage challenges around operational sustainability, energy conservation, IAQ monitoring, supply chain resilience, and large-scale facilities management.

What were the investors’ thoughts on Thinxtra?

Regal Funds Management was among the largest investors in this round. Phil King, Chief Investment Officer at Regal, said, “We are attracted to the positive macro tailwinds powering the Massive IoT sector worldwide this decade and in Thinxtra for its marketplace solutions in the significant Asian markets of Hong Kong and Macau, alongside ANZ. These in turn are continually generating strong annual recurring revenue streams that investors highly value.”

“The IoT industry has a positive long-term outlook both internationally and locally, with among the most predictable growth scenarios for investors interested in recurring revenue business models,” said Peter Gray, Executive Director and Co-Founder at Blue Ocean Equities.

Peter Gray, Executive Director and Co-Founder at Blue Ocean Equities
Peter Gray, Executive Director and Co-Founder at Blue Ocean Equities

“Thinxtra is a major player in this space in Australasia with a variety of attractive product and service solutions. This is the result of a highly experienced board and management which deliver proven tech as reflected by its strong customer base and international presence.”

Thinxtra works with Coles, CouriersPlease, Optus, Loscam, Konvoy, CORT Community Housing, AGP, PB Traffic, Programmed, LBS, IoTree and Tether, among others. Deployments span asset tracking and facilities management applications for organisations in industries including government, commercial and residential property, supply chain and logistics, theft recovery and utilities. Thinxtra expects to convert further major contracts in its pipeline.