A disruptive innovator in real-time customer presence analytics
“Foresense” – The perception of a thing in advance. The ability to perceive in advance
OnMarket Bidding Closed Foresense Technologies
.
Min exceeded. Now targeting $750k!
$691,477
Raised4.2-14%
Equity235
InvestorsPlease consider the offer document and general risk warning before investing.
Investors are entitled to a 5 day cooling-off period.
Investments over $10,000 are restricted to Sophisticated investors - Apply here
Update
Major commercial supply agreement signed with CUED Pty Ltd for the global roll out of Artificial Intelligence prototype black boxes and digitised live gaming technology for global markets.
Investment Highlights
Levelling the retail playing field
- An artificial intelligence solution enabling brick and mortar stores to more effectively compete with the growing presence of ecommerce
Market leading technology
- Proprietary presence detection technology combined with in-store digital sensors and mobile app technology enables real-time quantification of human behaviour in-store
- Unique sensors monitor in users’ smartphones to gather data, and then distils the information and delivers it a in a way that can be understood and utilised
Provides real benefits to customers
- Provides insights to allow retailers to understand and improve the experience and engagement of their customers
- Ability to forecast future trends unique to the operational space, offering a foresight into how users, clients or customers act and interact
Significant global market opportunity
- 71% of US smartphone owners are using their device for online price comparisons, product reviews and to research additional products
- Global AI market is worth an estimated US$157 billion in 2020 with Big Data market revenues from software and services expected to reach US$43 billion by 2024
Global customer base
- Signed agreement with oOH!media to rollout 10,000 sensors throughout Australia and NZ to create Australasia’s largest real time data location base data analytics footprint
- Final stage preparations to roll out up to 2,000 sensors for a US based casino resorts group and to create VIP Loyalty App programme for their 14 million members
Well developed funding plan
- Well supported by investors, having raised close to $2 million in convertible notes and equity in the last 24 months
- Over $240,000 committed by cornerstone investors as part of this Offer
- Sights set on an ASX listing in the not too distant future, subject to market conditions
About Foresense Technology
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.
The Problem
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.
The Solution
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
Traction
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.
- oOH!media Ltd – a signed agreement with one of Australia’s largest out of home media companies for the rollout of 10,000 sensors throughout Australia and New Zealand from airports to shopping centres
- Australian Lotteries and Newsagency Association (ALNA) – a signed agreement for a real-time loyalty programme incorporating real-time location-based sensors in 4,000 newsagents across Australia reaching 10 million customers.
- Major US Casino Group – in discussions with a major US Casino group for the rollout of 2,000 sensors to create a real-time VIP loyalty programme for their 14 million members
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.
Market Opportunity
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.
Revenue Model
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.
SaaS Subscription & sensor sales
- Recurring revenue via SaaS subscription model and the sale of sensors targeting 2 to 3 year agreements. The price of each membership varies based on the type of data analytics solution selected by the client, the geographic location of the space occupied, and any monthly allowances for business services.
- A typical SaaS agreement for a café would include a yearly subscription fee for sensors and a monthly data analytics fee on a 3 years contract.
Shared revenue: VIP loyalty memberships
- Providing location-based marketing and creation of VIP paid Memberships with real time presence analytics for a fixed fee with recurring revenues generated via the sale of data insights, provision of sensors, advertising revenue and a share of the membership fees from the program.
Big Data reporting
- Foresense will collect large amounts of data via their real-time presence detection and analytics sensors that can then be sold to third party clients. There are 3 key elements to this:
- Identify valuable business opportunities from the data to drive decisions and improve marketing return on investment (MROI)
- Turning those insights into well-designed products and offers that appeal to customers.
- Delivering those products and offers effectively to the marketplace.
Development solutions-based consulting
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
Management and Board
Joseph Barton
Proposed Non-Executive Chairman
Glenn Weiland
CEO and Director
Peter Avery
Non-Executive Director
Anthony McIlwain
Chief Technology Officer
John Morrow
Company Secretary
Chris Williams
Director of Business Development
Julian Danisan
Director of Strategic Partnerships USA
Terms of the Offer
Issued Capital
Use of Funds
Company Risks
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
Risks
RISK WARNING: Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks. You may lose your entire investment, and you should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares. Your investment is unlikely to be liquid. This means you are unlikely to be able to sell your shares quickly or at all if you need the money or decide that this investment is not right for you.
Even though you have remedies for misleading statements in the replacement offer document or misconduct by the company, you may have difficulty recovering your money. There are rules for handling your money. However, if your money is handled inappropriately or the person operating this platform becomes insolvent, you may have difficulty recovering your money. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself to any investment.
5 DAY COOLING OFF PERIOD: There is a 5 business day cooling off period for retail investors. During this period, you may withdraw your application and receive a full refund into your nominated refund account. Please note: After the 5 day cooling off period has expired, you will be unable to withdraw your application. More information here.
ONMARKET FEES: Upon successful completion of the Offer, a maximum fee of 7% of the funds raised will be paid to OnMarket by the Company.
ONMARKET INTERESTS: OnMarket and its associates may be participating in this offer.
ONMARKET INTERESTS AND AMOUNTS SUBJECT TO COOLING OFF: The funding bar displayed under each crowd funding offer may include applications where payments are yet to be made and amounts that are subject to the cooling off period.
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).
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R3D Resources Ltd ASX: R3D
Copper/gold focused explorer and developer with leading position in the Chillagoe region, North Queensland
The Company has advised that they have received firm commitments to cover the offer. Applications and payments must be submitted by Wednesday 3 March 2021, 5:00pm (AEDT)
R3D Resources Limited (ASX: R3D) through the acquisition of Tartana Resources Limited aims to become a significant copper-gold explorer, developer and producer in the Chillagoe Region in North Queensland. These projects vary in maturity from granted mining leases, mining lease applications and exploration permits.
The Tartana mining leases contain an existing heap leach – solvent extraction – crystallisation plant which has been held in care and maintenance since 2014. A proposed restart of this operation along with potential ongoing low grade zinc furnace slag/matte shipments from our Tasmanian project can underpin the financing of our exploration activities across the highly prospective project portfolio.
BrewDog Group Australia Ltd
Equity for Punks Australia: Tomorrow Starts Today
BrewDog's 2 Year Blueprint for Australia and New Zealand - read it here
BrewDog was born in 2007 with a mission to make other people as passionate about great craft beer as they are. In 2019, BrewDog opened their first facility in Australia, and are now on the verge of releasing awesome craft beer made by BrewDog, in their new home in Brisbane.
Their mission is to become the world's most sustainable beer business and this year announced they are officially carbon neutral.
BrewDog have a community of over 145,000 Equity Punk investors, and now, they are expanding that community into Australia. This is your chance to join them.
Before investing please consider the Offer Information Statement.
Min exceeded. Now targeting $750k!
$577,600
RaisedTo 10%
Equity852
InvestorsSPP Harvester
Harvesting the discount from Share Purchase Plans
The COVID-19 pandemic has caused a wave of discounted capital raisings with ~$53 billion of discounted new shares issued in the last 12 months.
Share Purchase Plans (SPPs) allow individual shareholders to apply for up to $30,000 in shares at the same discounted price paid by institutions. In the 12 months to 31 December, in-the-money SPPs were issued at an average 10% discount to the ASX closing price on the SPP closing date. But, you must be a shareholder before the SPP is announced.
SPP HarvesterTM gives you access to SPPs by buying you 1-share in 300 of the largest, liquid, operating companies listed on ASX. It will identify and apply for in-the-money SPPs and automatically sell the new securities, efficiently recycling your capital into the next SPP. This automatically harvests the discount for SPPs, with minimum capital outlay, low establishment costs and minimal administration.
Foresense Technologies
A disruptive innovator in real-time customer presence analytics
Update: Final agreement with CUED signed - Announcement here
Foresense Technologies has developed an artificial intelligence solution enabling brick and mortar stores to more effectively compete with the growing presence of ecommerce. Proprietary presence detection technology combined with in-store digital sensors and mobile app technology enables real-time quantification of human behaviour in-store.
Near term revenues from signed agreements with oOh!media and a network of 4,000 newsagents across Australia, as well as being final negotiations with a large US based casino group, a major national retailer and several other iconic global brands.
Before investing please consider the offer document and the general risk warning.
Min exceeded. Now targeting $750k!
$691,477
Raised4.2-14%
Equity235
InvestorsSprintex Ltd ASX: SIX
Leading supplier of automotive superchargers, reducing emissions and fuel consumption
Commitments received for $6.5 million offer size.
Sprintex Limited (ASX: SIX) is an Australian based automotive engineering, research, product development and manufacturing company that designs and manufactures superchargers for use in a wide variety of combustion engines. It is currently focused on the development and commercialisation of the Sprintex® twin screw supercharger in the automotive aftermarket and original equipment manufacturer (OEM) market in Australia, USA, Asia, Africa and the Middle East.
The patented Sprintex supercharger plays a key role in reducing fuel consumption and lowering emissions in combustion engines, which is assist in meeting increasingly stringent environmental standards.
Azura Consulting Pty Ltd
Fashion tech-retailer with zero-inventory model enabling massive growth with minimal risk
More Info
Azura is a fashion-tech retailer, delivering curated luxury and fast-fashion Brands for e-commerce marketplaces, using a zero-inventory model. Using AI and machine learning, Azura is able to process 150,000 products into data-rich, market ready items listed for sale on 100+ marketplaces within a few hours.
With the move away from bricks and mortar, Azura’s plug ‘n’ play access to 100+ e-commerce marketplaces has already attracted 1200+ Brands and delivered 34% month on month growth over the past 6 months.
Before investing please consider the offer document and the general risk warning.
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.
Hi -
Tze-wei C (OnMarket member) on 03/02/20211. Your offer document notes that your sensor technology relies on MAC mapping and user opt-in. How does this operate given IOS randomises MAC addresses (and Android moving to this too).
2. Skyfii does something very similar but using wifi WAPs and people counters. For the reason above, their data is quite inaccurate for IOS. How does yours differ?
Thanks
Hi Tze-Wei
Glenn W (Foresense Technologies representative) replied to Tze-wei C on 06/02/2021That is a great question. We are able to deal with randomised MAC address through our proprietary technology and IP. As you would understand we cant go into much detail on this in a public forum.
In response to your second question we dont have issues with inaccurate data. best regards
under Terms of Offer, the minimum investment amount is $500,000 !! is this a typo? and should read $500?
joachim d (OnMarket member) on 16/02/2021also is I wish to sell shares in 12 months , how would this be done?
Hi Joachim,
Nick M (OnMarket staff) replied to joachim d on 18/02/2021The "Minimum Subscription Amount" of $500,000 detailed in Terms of the Offer is the minimum offer size, which has now been passed.
$500 is the minimum investment amount.
In terms of being able to sell the shares in 12 months, the company does have plans to undertake an IPO in the near term, but this cannot be guaranteed, and is subject to listing approval and market conditions.
How far away are you from listing on the ASX? Do you have any plan to expand to Asian markets where there density of usage of mobiles phones is significantly higher than here?
Ramachandra Bhargav C (OnMarket member) on 01/03/2021Please sign in to post a question