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Levelling the retail playing field
Market leading technology
Provides real benefits to customers
Significant global market opportunity
Global customer base
Well developed funding plan
Foresense Technologies* is changing perceptions. For decades now, behavioural data has been collected and analysed in the virtual world in minute detail. Bounce rate. Dwell time. Impressions. Unique and return visitors. Session duration. Foresense Technologies has developed a platform to bring these types of specific parameters into the bricks and mortar physical world – a real-time quantification of human behaviour in-store to provide invaluable insight supporting commercially important decisions and driving revenue.
Utilizing the increasing prevalence of smartphones as a digital marker, powerful on-site sensors interact to capture millions of customer data points every single second, processed and readily accessible in real-time.
Foresense enables store owners and companies to embrace the future and understand exactly how people negotiate their stores.
The Foresense technology has been designed to level the playing field for brick and mortar retailers. Their unique solution presents an opportunity to forecast future trends unique to a retailer’s operational space, offering a certain foresight into how users, clients or customers act and interact in real time; a certain foresense
* The issuer is currently named Buzd Pty Ltd ACN 167 321 888, and is trading as Foresense Technologies. The company submitted an application to ASIC to convert to a public company and change its name to Foresense Technologies Ltd and expects the conversion to occur on 24 December 2020.
Consumers today are smarter, sharper and more cautious than ever before, with skyrocketing demands and expectations. To combat this, accurate measurement and analysis of data is essential to formulate a marketing strategy that successfully encompasses all consumer touch points. As transparency and personalised engagement is more important than ever before, it is now possible through technological advancement and effective integration of traditional and digital channels.
Click on something once and you’ll keep getting ads served up to you until you surrender and buy the item. These hyper-targeted digital marketing tactics have left bricks and mortar operators for dead with price undercutting. Same day delivery. Ease of returns – the list goes on.
The underlying driver to the success of online retail has been the ability to digitally classify and tag individual website visitors by compiling detailed data about their mindset and buying intentions. This allows them to follow potential customers around in cyberspace with targeted display advertisements, emails and SMS communications to give them the best chance of a sale.
In light of the global upheaval caused by Covid-19, the growth of online retail has further accelerated, making it more important than ever for physical retailers to make the most of all the tools and technologies they have available.
By placing powerful sensors throughout a retail business, Foresense is able to capture and analyse millions of customer data points every single second. It provides real-time analytics of foot traffic inside and around an organisation’s physical location, collected by sensors integrating with consumers’ smartphones. It can show how many people are passing, visiting, and/or engaged by an outlet on an hourly, weekly or monthly basis.
In doing this, Foresense provides a unique approach to providing insightful and actionable information to its customers that adds value to their business’ bottom line allowing casinos, smart cities, shopping malls, hotels and retail business to experience a quantum shift in their businesses.
Foresense collects behavioural data utilising leading edge Artificial Intelligence systems in our proprietary presence detection technology. It analyses how people act – and interact – on-site in real world settings. It allows accessibility in real time so highly informed, proactive.
Foresense helps traditional retailers survive in a disruptive digital world
Foresense is pioneering disruptive new trends in retail by creating the world’s most
powerful AI real time data analytics engine, unique sensor location marketing, and real time loyalty programs.
Foresense has already partnered with a leading US data analytics company to deliver the first presence analytics out of the box solution for retailers of any size and is partnering with existing distribution channels to leverage their sales reach and reseller networks.
Having established partners for manufacturing and distribution, Foresense has signed a number of agreements with major national and international clients.
Foresense is also in discussions with a number of other local and international companies for the rollout of their sensors as a real-time analytics partner.
The market opportunity for Foresense Technologies is global. Traditional methods of collecting and collating behavioural data are reactionary and definitive information that drives decisive action is only available after opportunities have been missed.
71% of US consumers are using their smartphones to assist them in-store and 82% of them make their purchasing decision in-aisle. With their smartphones customers are checking prices, browsing products, accessing reviews, sourcing opening hours and location information, and accessing promotional offers presenting a huge opportunity for retailers.
Big Data enables the analysis of customers smartphone and in-store activity in real-time opening up new avenues to provide consumers with real-time information whilst shopping in-store and online. The Big Data market revenues from software and services are expected to grow from US$11 billion in 2019 to US$43 billion by 2024, a CAGR of over 30% presenting a major opportunity for Foresense and their in-store, real-time data analytics.
Foresense Technologies is targeting the physical world to enable bricks and mortar to compete with online services through real-time data analytics and presence detection through sensors and smartphones.
Foresense will look to develop 5 key revenue streams, with two of these already underway. The majority of the Company’s revenue will be on a recurring basis via its SaaS subscription model and share revenue via the creation of location-based marketing and VIP membership programs utilising real-time presence analytics.
Providing consulting and development services to customers, calculated at an hourly rate. Special projects could include the creation of an AI real-time data solution within a company or organisation. Such special projects can range from $50,000 to $2 million+ per project
Buzd Pty Ltd (to be renamed Foresense Technologies Ltd) is an early-stage business, aiming to level the playing field for brick and mortar retailers by collecting behavioural data and utilising leading edge Artificial Intelligence systems. The opportunities for the company and are significant, but there is a degree of risk associated with any early-stage company. These risks include, but not limited to, being an early stage company, the ability to protect their intellectual property, operating in a highly regulated industry, competitive risk and data and reputational risk.
See the Risk section in the Offer Document for further information.
The Offer is subject to a Maximum Subscription amount of $2,000,000. If the Maximum Subscription is reached, the Offer will close early. Applications will be treated on a time priority basis and may be subject to scale back, so please fund your application as soon as possible
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Section 734(6) disclosure: The issuer of the securities is Foresense Technologies Ltd ACN 167 321 888. The securities to be issued are fully-paid ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
Question time
We'd love to answer your questions, we'll have one of the OnMarket team or the company representative of the offer get back to you asap. So ask away ...
Are you planning to list in the stock market? If so when?
Ashish J (OnMarket member) on 14/12/2020If I decide to go ahead in participating in the offer and would like to sell my shares in a future date, what options do I have?
Subject to market conditions and the success of the rollout of our sensors under current agreements and potential sales within the funnel, we intend to list on the ASX and have started the process. In the event we do list, you will be able to sell your shares on the ASX subject to ASX regulations. If we enter into a trade sale prior to an ASX listing you will also have the opportunity to sell your shares.
Glenn W (Foresense Technologies representative) replied to Ashish J on 22/12/2020Your leadership team and proposed board lacks diversification on several metrics. As diversity has been linked to growth and results generally, what plans do you have to remedy this?
Samantha S (OnMarket member) on 15/12/2020Samantha, we are at early stages of our evolution and are aware of the need for increased diversity of our board. We do have solid plans to diversify our team as we expand both domestically and internationally. This will include the addition of a number of high level industry leaders from numerous industry verticals.
Glenn W (Foresense Technologies representative) replied to Samantha S on 22/12/2020can you disclose what each sensor could ballpark generate per annum?
Edward T (OnMarket member) on 18/12/2020Hi Edward,
Glenn W (Foresense Technologies representative) replied to Edward T on 23/12/2020We cannot disclose specific information on the revenue generation per sensor, however, the Company has in excess of $1 million in potential contracted revenue over the next 12 months including an agreement for the rollout of 10,000. There is more information on our current pipeline of opportunity in section 2.10 of the Offer Document.
Is Mr. Mcllwain and Mr. Weiland part of failed Firmware Technologies trading as Vistime ?
Peter S (OnMarket member) on 20/12/2020Peter,
Glenn W (Foresense Technologies representative) replied to Peter S on 22/12/2020Firmware Technologies Inc. was a company incorporated in Delaware USA which has been deregistered for some time. Vistime was a product of Firmware Technologies Inc. created to service the medical conferencing market. Mr McIwain and Mr Weiland were directors at different and overlapping stages of Firmware Technologies Inc. prior to its deregistration.
That's wonderful. How do I get a copy of that ?
Stephen K (OnMarket member) replied to Glenn W on 29/12/2020I am interested in the answers too
Christine W (OnMarket member) on 21/12/2020Hi Christine,
Glenn W (Foresense Technologies representative) replied to Christine W on 22/12/2020Christine, Apologies for the delay in responding to the questions. They are all now answered. If you have any more questions in addition to the above, please do not hesitate to ask.
Do you have a side by side comparison of competition ? Or any information against your strongest competitor ?
Stephen K (OnMarket member) on 22/12/2020Hi Stephen, Yes we do have a side by side comparison of competition including product feature list comparisons and a strong understanding of our closest competitor. When we started we a were a one sensor company and today we have a full product suit with over 7 sensors including wifi, bluetooth, infra red and other selected. Our analytics dashboard is unique in our journey mapping and we believe we are at the forefront of presence detection.
Glenn W (Foresense Technologies representative) replied to Stephen K on 22/12/2020Sorry , posted incorrectly. How do I get a copy of the competitor analysis ?
Stephen K (OnMarket member) replied to Glenn W on 29/12/2020How much is each sensor making?
Rabei M (OnMarket member) on 22/12/2020Hi Rabei,
Glenn W (Foresense Technologies representative) replied to Rabei M on 23/12/2020We cannot disclose specific information on the revenue generation per sensor for obvious commercial reasons, however the Company has in excess of $1 million in contracted revenue over the next 12 months including an agreement for the rollout of 10,000 sensors with one of Australias largest out of home media companies Ooh!media. There is more information on our current pipeline of opportunity in section 2.10 of the Offer Document.
Hi,
Brendan B (OnMarket member) on 23/12/2020Your SaaS product mentions that it integrates with the consumers smart phones. Can you elaborate more on this? What data does it collect from the consumer? How does this enact with privacy laws in Australia and US? Is the consumer aware made aware of any data being collected/tracked?
. As mentioned in our Offer Document , Foresense stores no resulting data pertaining to an actual persons identity and complies with the current regulation as well as what we believe the reasonable, and foreseeable regulations may become. Firstly, its important to preface these responses with the fact that Foresense isnt so much interested in what a person does, we track and compile analytics regarding what people do. This contextual difference alone forms an important separation between legal frameworks respective to information and data pertaining to an individual and their respective identity and rights
Glenn W (Foresense Technologies representative) replied to Brendan B on 26/12/2020Foresense creates vast data models using a number of AI processing techniques to ascertain machine grown individual personas/behavioural tendencies capable of interacting with retail spaces that are supported by data discerned to have individuality so far as their onsite collective behaviour is concerned. At Foresense we use a considerable number of available data stores, abstraction methods to ensure absolute separation of individually from an actual identity.However if a person opts into a programme like one of our casino projects or cafe app or Swipe N Save newsagency loyalty app , we can gather connecting information of exponential value and also offer benefits to the end use.
In some cases like Day Care Centre products and Hotels/Casinos our technology seamlessly works within the organisations to enhance security. Ultimately the insights presented to our customer bases is reflective to specific needs rather than arbitrary metrics historically collected by this industry.
The resulting datasets and models while potential reflecting a particular person or group of people, are not at all respective an actual individual and their identity. Foresense is unique in this sense, utilising new AI methods to abstract individuality from identity.
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