IoT is the abbreviation for the Internet of Things. IoT is a network of interconnected smart devices that can communicate with each other without human intervention. Each device is assigned and addressed by its IP address. This technology became popular from the year 2006. A lot of industries have adopted this technology and it has helped them cut down on labor costs. It can also be highly useful at home. For example, instead of manually checking what one’s refrigerator needs, if the refrigerator is IoT enabled, it can automatically check itself and message the owner what needs to be bought. Another example is, if one’s car’s engine is IoT enabled, it can automatically monitor itself and notify the owner when it needs servicing. Traffic signals can also be IoT enabled so they can communicate with each other and manage traffic better.
Overdrive is an IoT based company that was founded in 2015 by Aston, Zen, and Alex. Overdrive has designed IoT based sensors for various companies in the B2B, B2C, transport, logistics, and automobile sectors. Its IoT based sensors can detect vehicles’ locations, monitor their engines’ conditions and record their performance during motion. The IoT based sensors store their information on Microsoft’s cloud platform, Microsoft Azure so that corporates can access that information easily and on any device. Corporations can build smart applications using the data given by the IoT sensors and they can also keep track of their vehicles. Corporations can also scale up easily because the IoT sensors store their data on the cloud platform rather than on an individual server, which may be prone to damage or theft.
Services offered by Overdrive
Enterprise Integration: Not only vehicles, the information of any device, be it an office system or an employee’s ID card, is stored in Microsoft Azure. This way, any company can gain instant access to any information it wants on any device that can connect to the cloud platform. It has greatly increased the productivity and efficiency of corporations.
iBeacon Technology: The IoT enabled sensors that the company manufactures, communicate with each other using Bluetooth Low Energy (BLE) wireless technology. This helps them operate in low-power mode and enables them to last longer. The sensors transmit location and sensory information to the cloud server and other smart devices using BLE wireless technology.
Scalable Software: Overdrive has also designed software that operates on Microsoft Azure cloud platform. The software collects data from various IoT enabled sensory devices and organizes them into a more meaningful and easy-to-read pattern. The software organizes the data in a dashboard from which it is easy to read and share the information. The dashboard is fully customizable. The dashboard automatically derives patterns, reports and other meanings from the raw data collected to better support business decisions.
Funding And Expansion Plans
The Singapore-based Overdrive has only this month (January 2019) secured US$2.9 million in Series A round of funding from the China-based VC firm, Tin Men Capital. The company plans to use the capital to increase its footprint in other parts of Asia and for mass recruiting. The company has so far designed IoT based sensors for major corporations like FedEx, Ascendas, Nanyang Technological University, Volkswagen, Mazda and the Ministry of Manpower in Singapore.
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