Case Study: Leading AI-driven presence detection technology successfully completes equity crowdfunding offer via OnMarket

17 March 2021 @ 12:00AM Equity Crowdfunding: Case Studies

Case Study: Leading AI-driven presence detection technology successfully completes equity crowdfunding offer via OnMarket

Key Takeaways

AI-driven presence detection technology company, Foresense Technologies, has successfully completed its equity crowdfunding offer via OnMarket.

The Company, which provides businesses accurate real-time analysis of foot traffic by integrating in-store digital sensors with leading edge artificial intelligence, successfully raised $657,477 from 228 investors.

The offer got off to a strong start, led by a $250,000 cornerstone investment that generated early momentum in the offer. The announcement of the commencement of the first phase rollout of 10,000 sensors for oOH! Media throughout Australia and New Zealand, coupled with the announcement of a signed agreement with CUED in conjunction with the World Pool-Billiards Association renewed the momentum of the offer in the final weeks. This was most evident in the final week of the offer that saw $145,000 raised.

This has the potential to be a significant future proof partnership that will add great value benefits to oOh!media and our clients…

Noel Cook, oOH!media Limited Chief Commercial and Operations Officer

A quick recap of Foresense Technologies

Foresense is a “disruptive innovator in AI real-time presence analytics” utilising artificial intelligence to collect real-time customer data. The technology provides retailers with the tools and insights that enable them to flourish in a digital world. 70% of sales are still conducted in-store and Foresense helps businesses improve the experience and engagement of their customers to increase sales by delivering actionable information that is collected from powerful sensors placed throughout the premises.

The unique suite of sensors tools integrates with consumers’ smartphones to gather data without impeding personal privacy. Being the only presence analytics provider that can deliver the full set of service solutions and customer insights in real-time, the Company is uniquely positioned at the forefront of its competitive landscape.


What is next for Foresense?

Foresense technologies has a number of agreements in place with major national and international clients as well as being in discussions for a number of additional opportunities:

  • Rollout of 10,000 sensors for oOH! Media throughout Australia and New Zealand
  • Partnership with the Australian Lotteries and Newsagency Association (ALNA) for a real-time loyalty program
  • Agreement with CUED sports in conjunction with the World Pool-Billiard Association (WPA)
  • In discussions with major US casino group that has 13 sites for a real-time loyalty program

The rollout for oOH! Media is already underway and Foresense is working with ALNA to develop their real-time loyalty program. Discussions with the major US casino group in conjunction with leading US data company Capstone Data will underpin Foresense’s expansion into the US market over the next 12 months.

Foresense is also targeting the rollout of sensors at shopping centres, airports, and day care centres as well as expanding its network into Asia and the EU. The Company has plans to list on the ASX in the not-too-distant future.

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