Optelos

Optelos

A patented data management, visualization, and AI analytics SaaS solution for industrial asset inspection

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Security Type
Convertible Note
Min Investment
$1,000
Location
Pflugerville, TX
Offering Date
November 12, 2020
Expected Close Date
January 29, 2021
Target Raise
$300.00K-$2.50M
Deal Notes

Conversion Discount: 20.0%

Interest Rate: 5.0%

Note Term: 24 months

Company Description

A patented data management, visualization, and AI analytics SaaS solution for industrial asset inspectionAsset inspections represent a significant cost for most industrial enterprises.  Enterprises are actively seeking ways to modernize asset inspection and data management to provide actionable insights. What they’re finding falls short of expected results.  Why? Inspecting, evaluating and auditing involves people, often in dangerous places. Drones, robotics, and advanced computer vision have largely replaced field inspectors.  The outcome? Dramatically more content, especially video and images! Unstructured content and images are delivered to a centralized asset inspector – who rapidly became the bottleneck without efficient ways to process all of that information. The solution?  Optelos' solution is to transform the high volume of unstructured images and meta-data into an information model married with reality modeling and automation to dramatically increase throughput and quality.  It takes us a bit of engineering, a bit of IT system know-how and the application of AI to lift productivity, throughput, and quality of asset inspection and insights. Optelos is enabling digital transformation of what has been an intractable problem.  Our flagship offering, Enterprise Asset Advisor is one of the first products to offer an integrated solution. Leveraging patented digital-twin IP to create a fully searchable and shareable digital asset repository of a physical asset. Optelos correlates telemetry, time, and other digital markers from images and videos to create this repository. Optelos combines data analysis with intuitive workflows to view multiple, selectable visualizations, in-process AI and enterprise system interoperability to deliver enterprise solutions – all at scale!

Key Deal Facts

U.S. patent granted to founders in 2019 for data management technology used to synchronize and analyze visual digital inspections
Optelos is a Microsoft One Commercial Partner and engaged in collaborative projects with Accenture to develop enterprise solutions
Current notable customers include Georgia-Pacific, Accenture, and Texo Group
2020 YTD revenue is over $750K (as of October 2020), representing a 897% increase in annual revenue since commercialization began in 2017
Optelos was accepted into Capital Factory’s 2019 VIP Accelerator program and is backed by key investor AustinLee Ventures

Use of Proceeds

  • Full Stack Engineers
  • Marketing & SEO
  • Business Development
  • Embed Software

Management Team / Advisory Board Bios

David Tran
CTO
Founder, CTO & co-CEO

David Collmann
CEO of TesCom
Founder and Chairman

Deal Notes

Conversion Discount: 20.0%

Interest Rate: 5.0%

Note Term: 24 months

Amount Raised : $888,509
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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