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We provide the maritime industry with digital solutions. (Incorporated in the Cayman Islands)
We are a leading provider of maritime digital technologies including satellite connectivity and digitalization solutions in Singapore focused on facilitating the maritime industry towards digital transformation. Based on the Frost & Sullivan Report, as of March 31, 2024, we ranked fifth in the Singaporean market based on revenue from the provision of maritime connectivity and digital solutions with a market share of approximately 6.2%. Our company was established to adopt an innovative approach towards the management of solutions accustomed to contemporary needs and drive the digital evolution in the maritime industry.
We have two operating segments: (i) satellite connectivity solution, and (ii) digitalization and other solutions. In the satellite connectivity solution segment, we offer integrated satellite connectivity solution through the provision of satellite connectivity services and the sales and/or lease of satellite network equipment and devices for shipboard network management. In the digitalization and other solutions segment, we are involved in designing digital solutions, providing IT support, and providing shipboard support services for IT and OT applications enablement.
Our digitalization platform — “Just A Really Very Intelligent System” (“JARVISS”) — has been specifically designed to support enhanced integrated solutions, asset optimization and delivery of secured critical applications globally. It hosts a fleet of native applications developed by us as well as third party applications, consolidating essential functions such as IoT and vessel management. Our unique platform seamlessly integrates these applications, simplifying maritime operations and fostering unprecedented efficiency and leads us to be a pioneer of integrated maritime connectivity and digital solution providers. For further details regarding JARVISS, see the section entitled “Business — Our flagship solution — JARVISS”. In addition to JARVISS, our portfolio of digital solutions also encompasses our “V.Suite” solutions, which currently consist of V.SIGHT AI camera surveillance, V.SION AR smart glasses, V.IoT shipboard monitoring and analytics, V.SECURE cybersecurity, and V.WEATHER route optimization, as well as a new ERP system — “Future Ready Intelligent Digital Assistant System” (“FRIDAY”). For details, see the sections entitled “Business — V.Suite” and “Business — FRIDAY”.
Note: Revenue of $8.57 million is in U.S. dollars for Fiscal Year 2024, which ended March 31, 2024.
Note: iOThree Ltd. reported a Fiscal Year 2024 net loss of US$4,446 – an amount too small for the financial chart below.
(Note: iOThree Ltd. cut its IPO’s size by reducing the number of shares to 2.63 million shares (2,625,000 shares) – down from 3.7 million shares originally – and keeping the price range at $4.00 to $6.00 – to raise $13.15 million, if priced at the $5.00 mid-point, according to to an F-1/A filing dated Oct. 11, 2024. Of the 2.64 million shares in the IPO, the company is offering 2.13 million shares (2,125,000 share) and the selling shareholders are offering an aggregate of 500,000 ordinary shares. The company will not receive any proceeds from the sale of the selling shareholders’ shares. )
(Note: In that F-1/A filing dated Oct.11, 2024, iOThree Ltd. also updated its financial statements for FY 2024 and named Network 1 Financial Securities as its new sole book-runner, replacing Eddid Securities. Background: iOThree Ltd. filed its S-1 on Jan. 24, 2024. The Singapore-based company submitted confidential IPO documents to the SEC on Oct. 19, 2023.)
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