- Origin: UK
- Grant awarded in: 2018
What is MYMA.io?
myma has developed a market leading Internet of things platform. We partner with companies to provide bespoke B2B solutions for their needs and we design all our own software and hardware in-house. Our open RESTful API means you can connect your IoT devices in a matter of minutes, not months.
Circular as the product benefits everyone involved. The OEM gets a better understanding of their machines usage and programme settings (cycle, temp, heat, pump, wash, can all be detected) and can reduce R&D, customer service and engineer call out costs (currently at £800M per year). The end user gets an extended 12 months warranty and a better understanding of their usage and real time interactions with their machines. By using it's own classification engine in the cloud with predictive maintenance AI and Preventative maintenance, Myma can extend the lifetime of the machine by up to 3 years or 2,000 cycles.
They charge a simple SaaS model, have several verticals and take a cut of the D2C sales. They understandably, have a huge, untapped total addressable market of 10Bn appliances globally, of which, none of them are connected to the manufacturer and their user (yet). Electrolux & Bosch ship 120M appliances per year and have a remit and urgency to get millions of their machines connected. Team Myma are ahead in more ways than one; they have been in the IoT space for over 6 years (with WIFIPLUG) and they have several unique IP plays that give them the market leader advantage, offering their customers a full turn-key solution, ready to scale.
Leon the CEO is a seasoned Entrepreneur, he has had 3 Technology startups and has been in the space since 2005 with stints on the BBC Apprentice and Dragons Den. If you have heard of Techstars, here is the Demo Day pitch it's 7 minutes so only watch if you like what you see in the deck. The team (of 7) have so far, signed contracts with two of the Worlds largest, competing OEM's (Electrolux & Bosch / Siemens). Using their custom IoT platform they can make your washer, drier or dishwasher smart, which is the exact remit of these corporates right now. Myma understands customer usage and feeds it back to the manufacturer via a dashboard giving detailed analysis and insight to up sell D2C.