KPMG invests in IoT startup

Analytics and automation startup, Nuonic, has announced a strategic investment and alliance with professional service company, KPMG Australia.

The investment from KPMG will bring the total amount raised by Nuonic to $1.3 million, adding KPMG to a prominent roster of shareholders including founders Sebastian Jezierski and Derek Hooper, and fintech firm, InLoop, which is backed by Macquarie Capital and Westpac.

Nuonic’s primary product is the proprietary transport analytics platform, Prism, which reportedly allows organisations to optimally manage their commercial vehicle fleets. It processes and analyses big data from Internet of Things (IoT) devices on vehicles, helping businesses generate insights and essential operational data. Since launching in January 2017, Prism has already processed over 500 million data points for major clients in the resources, transport and utilities sectors.

The strategic investment and partnership with KPMG is a watershed moment in Nuonic’s growth, according to Nuonic CEO, Sebastian Jezierski.

“The demand for Prism has demonstrated the massive market for this tech, with customers using it to make transformational changes to fleet management,” said Jezierski. 

“Our growth to date and future potential is underscored by KPMG’s investment. Beyond KPMG’s financial commitment, our strategic alliance will help us fully explore the possibilities of this breakthrough analytics technology, develop new tools and expand our customer base,” he said.

Nuonic’s cloud-based Prism technology combines elements from advanced data analytics and automation.

KPMG will exclusively offer its clients access to Prism, with an initial focus on automating the calculation and processing of Fuel Tax Credits (FTC), in order to provide sophisticated commercial insights for vehicle fleet operators. In Australia today, there are reportedly more than 3.7 million commercial vehicles, and over 50,000 businesses claim FTC refunds each year.

“The big picture excites us, said KPMG Australia CEO, Gary Wingrove. “Our investment and alliance with Nuonic provides us with access to world-class new technology which enables us to build out our Fuel Tax Credits business, as well as extend into future applications such as business intelligence for road usage, cities and infrastructure. We see a lot of potential in Nuonic.”

The investment will be used by Nuonic to expand its development teams in Northern New South Wales, and Brisbane, and accelerate new product development.

“We are hugely excited about the global opportunities for analytics technology,” said Jezierski.

“Just last month Ford announced its intention to develop a Transportation Mobility Cloud – an open communications platform to manage everything from parking spaces to traffic lights.

“This demonstrates the increasing global need for tech-agnostic analytics platforms to manage massive amounts of data, which is why scalable solutions like Prism will play an essential role in helping businesses to navigate the future,” he said.

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