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Douglas Jendras | Managing Director
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(203) 501-7667
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Overview
Komstadt is raising $210 million to expand its next-generation flexible workplace platform and AI-enabled Platform-as-a-Service in the US.
Platform-as-a-Service (PaaS) – a specialized developer platform that helps developers of smart devices, commercial applications and industry solutions for the office — even non-technical customers — to effortlessly create their own smart, connected products tailored for commercial real estate.
- FY2024 revenue was $10.21 million
- AI driven hardware integration platform: AI automatically recognizes and integrates new hardware devices. When a user connects a new device, the AI analyzes its capabilities, interfaces, and protocols, then generates the necessary code and configurations to seamlessly integrate it into the ecosystem
- Natural language hardware programming: AI-powered interface that allows users to describe desired functionalities in natural language, which the AI then translates into actual code and hardware configurations
- Up to 70% less than the cost of traditional renovations
- AI-generated User Interfaces: Instead of requiring developers to create custom interfaces for each application, use AI to dynamically generate intuitive user interfaces based on the connected hardware and desired functionalities
Opportunity
- The COVID pandemic, along with developments in technology, have significantly changed the office and the behaviors that shape it. This has served to create an office space crisis, including what to do with all that unused, undervalued office space that sits in core downtown areas of major cities in the US and around the world
- The global market for office renovations and fit-outs is $1.4 trillion, growing at a CAGR of 4.1%
- Growing trend towards digitalization of “dumb” office products to collect usage data along with the application of AI driven hardware integration provides massive opportunities for licensing of software and technology
Solution/Strategy
- A flexible workplace platform, Workplace2GO – modular, integrated turnkey solution for companies to easily set-up and manage their own connected workplace ecosystem
- Workplace2GO combines software and technology to provide “coworking in a box” eliminating the need for third-party systems integration while providing up to 70% savings over traditional renovations and fit-outs
- Specialized developer platform with advanced cloud and generative AI capabilities delivering a comprehensive suite of Platform-as-a-Service (PaaS) offerings
- Designed for developers of smart device, commercial applications, and industry solutions
- AI-driven hardware integration solution and intuitive no-code tools, empowering even non-technical customers to effortlessly create their own smart, connected products tailored for commercial real estate
Key Revenue Streams
- Workplace2GO:
(1)One-off sales of hardware;
(2) annual software licenses; and
(3) revenue sharing agreements
- Platform-as-a-Service: licensing revenue
Go-To-Market
- Growth marketing campaigns to build awareness and drive inbound leads
- Direct sales for strategic clients
- Distribution network
- Broad-based participation in targeted industry trade shows (e.g. Blueprint)
Management Team
STEVEN MAN – Co-founder & CEO
Experienced senior executive with a track record of success in sales, marketing and corporate development in technology ranging from data centers and network infrastructure to smart office technologies. Built $20 million smart office systems integration business with an Asia-wide presence.
DAVID J WONG – Co-founder & COO
Entrepreneur and senior executive with 20+ years of experience in technology start-ups, corporate business development and M&A in Asia and Europe. Instrumental in the execution of two trade exits and one management buy-out.
MARK IP – Co-founder & MD, North Asia
Experienced entrepreneur with over 30 years in the technology, AV and IT industry. Accomplished business builder. Successfully managed and grew pan Asia operations.
CHARLES OH – Co-founder & Chief Product Officer
Technologist with a background in venture companies and private equity (Credit Suisse) in Asia and the US. Founded two start-ups with one exit (Construction Tech company) via trade sale. Led development of and successfully launched SaaS product for commercial real estate.
KELVIN TEH – Co-founder & MD, Southeast Asia
15+ years in AV & IT industry. Built a highly profitable multimillion dollar systems integration business in Singapore. Managed large scale turnkey multi-site projects across SE Asia comprising design-and-build and project management
Specific Risks
- Delays on fundraising will impact growth
- Changes in statutory/regulatory/compliance requirements that might impact ability to deploy solutions in specific markets
- Changes in macro-economic environment
- Insufficient budget to scale quickly, allowing competitors to gain ground
- Delays on fundraising will impact listing plans
- Lack of advanced components due to global/political risks
- Private securities are speculative, illiquid, and carry a high degree of risk – including the loss of the entire investment