IDsys Online | Fundwise

Quick Pitch

IDsys Online is a web and app-based management software that can be easily integrated with various hardware devices. The service is comprehensive, as it provides companies with an end-to-end solution, from digitizing their needs to consulting, solution integration, and customized hardware installation. The setup is faster and more cost-effective compared to existing specialized inventory and production management software, making it an ideal choice for all types of businesses.

Problem & Solution

There has long been a demand in the market for solutions that eliminate human labor and errors by automating item counting and data entry directly from various processes. The problem that we at IDsys solve is the need for an automated solution that provides accurate tracking data. Accounting programs that have some level of warehouse management suffer from hardware integration limitations and require a lot of manual data entry. Warehouse management software focuses narrowly on inventory management and lacks RFID or other hardware integrations.

Overall, there is a lack of a system that provides an overview, helps with planning, and automates management operations. Work processes are inefficient. IDsys considers its solution to be a customizable product-service package tailored to the customer's interests, incorporating technological expertise in customizing, installing, and integrating machine vision and RFID systems with the customer's infrastructure, as well as understanding the customer's business processes. We provide process analysis, consultations, user training, and user support.

The technological solutions offered by IDsys in the future will include autonomous drones, biometric authentication, smart cards, access control systems, and other innovative technologies that help securely and efficiently manage identities, permissions, assets, resources, and real-time tracking and analysis of people.

Machine vision and RFID technologies come into play, allowing companies dealing with physical objects to reduce logistics-related risks, save on personnel costs, and save time on object entry and inventory management.

Product/Service Details

A complete digital comprehensive solution for service, construction, warehouse, production, and other companies. Warehouse, production, and personnel management.

The company has a ready-made asset management software called IDsys ONLINE, which is already being used by a dozen clients. The focus so far has been on inventory and asset management. Additionally, the company has provided tool and key management solutions and has also created specific, extensive, and complex solutions for manufacturing companies. The goal of the current project is to integrate the broad previous experience into a comprehensive software solution that addresses the customer's data processing needs throughout the entire process. This includes personnel planning, asset management, receiving goods, tracking and planning production, and issuing finished products or shipments from the warehouse. To achieve this, we are developing additional features for the existing inventory, warehouse, and production management software, thereby creating a high-value product. In addition to industries such as warehouses and manufacturing, we are expanding to include functionality for personnel time tracking and management, which also has its own market in the service and construction sectors.

Furthermore, the software has interfaces with various hardware components that facilitate the quick and easy installation and implementation of the following solutions.

RFID HANDHELD READER FOR INVENTORY

Inventory management has a place in every company. We offer solutions for conducting inventory and identifying and actively tracking assets using a handheld reader. The handheld scanner, together with the IDsys Online software, is a modern tool that provides information about assets and past inventories and allows for inventory management.

With this solution, inventory/asset management can be performed using a specialized RFID handheld scanner that identifies assets equipped with special tags using radio frequency technology. It is also possible to use simple barcode solutions as well as camera-based machine vision solutions. The solution is complemented by a web application with an extremely flexible and configurable document module, which is convenient for inventory, warehouse, and production management.

PRODUCTION TRACKING

Production process monitoring can be carried out using RFID or machine vision solutions. The purpose of the solution is to track the produced objects using machine-readable technologies and tags. This allows real-time data to be obtained about the product, batch, or order.

REAL-TIME INVENTORY

The monitoring solution is designed for those who want to automatically identify mobile assets. For example, by using RFID gates installed at exits, previously tagged assets can be automatically detected. The solution works with both RFID and machine vision technologies.

RFID INVENTORY

RFID gates count tagged items as they pass through, automatically detecting multiple units of goods at once, up to several hundred units. This solution is primarily designed for laundries, hospitals, and hotels.

BARCODE/NFC/QR INVENTORY MANAGEMENT AND MAINTENANCE OPERATIONS ON SMARTPHONES

A simple solution suitable for Android phones. The application works in conjunction with IDsys Online.

Business model

The company operates with customer-specific software development and installation of customer-specific hardware solutions. The general business model so far is to implement customer-specific smart and hardware solutions using RFID, barcode and QR code. It includes both customer-oriented service and a small amount of hardware development. We mainly focus on inventory solutions and help digitize customers' production, warehouse-internal logistics and asset management.

The business model of the solution is license-based software rental and additional customer-based software developments. Customer-specific additional developments are viewed from such a point of view that they supplement the functionality of the overall program for all customers. In the scope of this project, the basic functionality of most customers is solved. Part of the business model is also later additional work, which customers already order their own development based on their needs, for example integration with their accounting software. Additional software upgrades are paid for by the customer and are not covered under this plan. The plan is to develop an API for quick and convenient interfacing with other business software. They are created based on customer needs when a customer with a corresponding need arises.

Technologies include C#, Javascript, HTML, CSS and .NET frameworks known in software development.

Digital warehouse and manufacturing solutions currently in use are manual, slow and costly, and potentially error-prone. Most solutions lack automation functionality.

Similar solutions for fixing working hours currently in use are very much hardware-based, for example fingerprint readers, access systems, security systems and the like. Most systems do not have a good and convenient user interface, it is necessary to write report modules according to the selected hardware system. They are purely focused on a very narrow part of the solution and are therefore not convenient for the customer. - These are not flexible solutions, and for their larger scaling, the hardware base needs to be increased again. In the long run, they are very customer-friendly, and customers would like to have more flexible and easier-to-manage solutions. Customer-specific developments are often behind the times because they were made at some point on the basis of specific hardware for a customer-specific solution and they do not continue to develop as software. The fact that

Revenue would be generated on a license basis. The product is rented to a large number of companies across Europe, which ensures a stable and long-term revenue base. Since the program is constantly updated and optimized according to the latest technologies, it ensures the up-to-dateness of the system, which in turn ensures the satisfaction of the long-term customer base.

Market

More than 37% of companies today have not digitized their assets and business processes, while 63% have only partially done so. The work is slow, inefficient and stressful. IDsys ONLINE is here to solve this problem. We provide AI computer vision and RFID-based digital solutions that increase efficiency, improve employee well-being, and improve the profitability of our partners.

There has long been a demand on the market for solutions that exclude human work and errors, which automatically count items and enter data directly from different processes. Accounting programs that have some form of inventory management suffer from hardware interface deficiencies and there is also a lot of manual data entry.

Customer segments:

The product is mainly intended for micro, small and medium-sized warehouse and production companies with a few dozen to a few hundred employees and whose annual turnover is about 2-25 million. For example, our clients are Aru Grupp, Viking Window, Harmet Constructions and Tartu University Hospital.

The product is also suitable for state institutions in the public sector that have a lot of assets, such as museums, hospitals, ministries, law enforcement agencies, the military, schools and municipalities.

Traction & Accomplishments

Our existing clients and solutions:

ABB AS - IDsys Online RFID inventory solution

Aru Grupp AS - RFID production solution

Enefit AS - RFID-based railway wagon movement monitoring system

Viking Window AS - RFID production solution, barcode digital warehouse management (storage of package units), warehouse issue, digital delivery slip and automatic tracking of the issue
Nõrkvoolu Paigalduse OÜ - RFID tool rental and inventory, working time registration

Harmet Constructions OÜ - RFID tool rental and inventory

Tallinna Lennujaam AS - RFID handheld reader inventory solution

Hoolekandeteenset AS - RFID handheld reader inventory solution

Tartu University Hospital SA - RFID-based laundry management information system

Ministry of Finance - Phone-based IDsys Online inventory application with barcode

Eesti Meremuuseum SA - RFID hand reader inventory solution

NetGroup OÜ - RFID handheld reader inventory solution

Bepco OÜ - RFID real-time inventory (tested, under development)

Vevid AS (Rehvid.com) - Digitization of production management

Orkos - Digitization of production Raw material reception and automated identification in production + new software
Kallavere Middle School - RFID hand reader inventory solution
Tallinn Polytechnic - RFID hand reader inventory solution

In addition, the company has implemented a QR-code-based personnel registration system for Nõrkvoouli Paigalduse OÜ, which has proven to be a convenient and reliable solution to replace existing hardware-based solutions.

How We’re Different

The advantage of the IDsys Online software itself is its high adaptability, taking into account the user's wishes, both in the display of information (views) and in the transmission (reports) and integration into other business software.

The product also takes into account the client's hardware needs, and therefore any hardware interface is suitable for identifying different types of identifiers. These include RFID tags (NFC, UHF, BT, WIFI, UWB) as well as visual QR and stripe codes, and in the future also cameras working with a trained data recognition model (machine vision).

Leading the development of Industry 4.0, IDsys ONLINE offers fully customizable software that connects all aspects of your business - employee tracking, asset management, goods receipt or production, document management and much more.

With more than 20 years of experience in the market, experts understand the shortcomings and mistakes in the industry. Our core solutions are designed and hand-tailored for specific industry needs and goals - so these mistakes never happen again.

Automation, optimization, i.e. reduction or complete elimination of human activities

Focused on real-time information movements and results are immediately available. (Direct Business Software Integrations)

Uses of Funds & Timeline

Use of money
The need for investment can be seen in the costs forecast table in the Business plan file, which shows that a large part of the first year is spent on staff who develop. In addition, the involvement of the sales staff and then general expenses with renting an office and marketing expenses. The first year is a small loss, but from the second year, the product is already ready and completely demonstrated to customers that selling to new customers will only become easier over time.

An implementation plan is expected
The expected end result is that a large part of the companies on the market will be able to use our solution. Evaluating its performance according to the top-level number and planned financial results given in the turnover-profit forecast. The aim is to stay within the aforementioned milestones (quarters).

Future plan for 2025 and beyond:
In addition to all the main functions, the ambition of the business is to offer other high-added-value improvements to the existing solutions. These include UWB RFID technology and drones. UWB (RTLS - real time locating system) enables tracking and positioning of objects with an accuracy of 5 cm. It is suitable for both forklifts and people, which helps to increase both safety and significantly improve warehouse operations. Efficiency comes from the fact that forklifts do not have to brake everywhere, because the software shows who is moving where.

When deploying drones, it is intended to either deploy an RFID antenna or a camera (machine vision), which helps to detect the movement of an object, from the air and if necessary also without human action, i.e. automated. These methods further increase lift and profitability, further reducing the need for human resources. The content of these projects will be defined when the program's core functionality and a stable customer base have been achieved.

The expected end result is that a large part of the companies on the market will be able to use our solution. This performance is evaluated based on the number of customers joining and the planned financial results in the turnover-profit forecast. The aim is to stay within the aforementioned milestones (quarters).

Obligations to Investors, Profit Distribution

We promise that the product will be successful and find widespread use due to its strong value proposition and the involvement of a competent sales team. Scaling can be achieved quickly and smoothly.

We pledge a favorable return on investment to investors, estimated at around 40-60% over the next three years, during which we plan to increase revenue from €439,000 to €4,800,000. Dividend payments will depend on the company's success but are also planned to be distributed in a small amount within the next 3-5 years. Additionally, we are willing to buy back shares from investors. Currently, no investors have been involved, and hypothetical profits would be shared among the three active shareholders. In reality, every penny of profit is currently reinvested.

Currently, no investors have been involved, and profits are distributed among the three active shareholders.

Risks and Mitigation

The risk lies in achieving a significantly smaller customer base or slower customer growth than planned. In the worst-case scenario, the company's growth for this project may be significantly slower than anticipated, but it does not necessarily mean that the project would be unprofitable. If this risk is realized, profitability will be achieved over a longer period than initially planned.

Company name: IDsys OÜ
Company's registration code: 11716262
Company's address: Laki 5, Tallinn 10621, Estonia
Company's phone no.: +372 5126275
Company's e-mail: anton.mesila.jr@idsys.ee
Homepage

Fundwise's e-mail: info@fundwise.me

Investment amount

99 900 - 333 000 €

Equity offered

3,22 % to 9,99 %

Equity offered per investor

300 € to 333 000 €

Current share capital

10000 €

Company current valuation

3 000 000 €

Share capital after campaign

10 333 - 11 110 €

Company valuation after campaign

3 099 900 - 3 333 000 €

1 € nominal share price

300 €

TEAM

Anton Mesila Jr

Partner, CEO

Anton is a ambitious, driven and passionate visionary who has always seeked to make the world a better place. Starting from himself and moving to the world he is constantly seeking ways of improving things. Always interested about technology he is now passionate about is to digitalizing the world by introducing digital technologies. Graduated from Tallinn University in Computer Science, with experience in project and team management, and understanding of various digital technologies. Completed Impinj training as an RFID system specialist.

Anton Mesila Sr

Founder, chairman of the board

Has 22 years of experience in low-voltage systems, integration, equipment programming, complex access control systems, surveillance, fire automation, and 10 years of RFID experience. Has experience in writing software specifications and attained higher education degrees on two occasions.

Jüri Kaljuvee

Founder, Strategic Advisor

Has worked in leading positions such as Chairman of the Board of AS Standard, Advisor to the President of the Republic on security, and has extensive experience in business development and management.

Rainer Piil

Junior software developer

Hi, my name is Rainer Piil. I'm really passionate about software development. Through personal projects and self-learning, I've gained extensive experience building web applications using modern technologies. Right now I’m focused on learning new things and to do that I'm currently pursuing a specialization in software development through my education. I can do both front-end and back-end development with ease. It's just so exciting to me to be able to work on all aspects of a project and really bring it to life. I love the challenge of figuring out how to make everything work together seamlessly. All in all, I just can't get enough of software development! 2 years of active experience.

Max Frolov

Junior software developer

I'm a passionate software developer with a strong foundation in both front-end and back-end development. My journey into the tech world has been diverse and exciting, allowing me to gain expertise in over five programming languages and a multitude of software development methodologies. I've honed my skills and applied my knowledge through various projects, both academic and personal, where I've not only deepened my understanding but also discovered innovative solutions to complex problems.One of my favorite projects was developing a web page for an Autonomous Driving Lab. This challenge required not only coding skills but also the ability to manage and transform massive data files generated by autonomous vehicles into a readable and accessible format. Alongside web and software development, I have a keen interest in game development. I've taken part in several team projects where we created engaging games, further broadening my skillset. Authored a comprehensive guide on creating a 2D game in Unity, a testament to my ability to not only create but also to instruct and lead.

Arvi Saluste

Executive software developer, system architect,

I have wrangled C# for the past 17 years. I have led big and small projects from start to finish. Have a wide understanding of different technologies (C#, databases, Android, etc.) and experience integrating hardware (RFID readers, printers, IoT, etc.) into a cohesive solution.

Rasmus Riiner

Senior software developer, system architect

Having a keen eye for both detail and the bigger picture, I enjoy architecting complex, but performant software, working across the whole stack (including UX) to make it happen. Memorable projects include an array based database written in C, a javascript library for intuitive excel-like editing of tabular data, and cross-platform middleware for a small game project. Time after work is spent dancing or playing the piano. I’ve been with the team for two years.

Dmitrijs Pavlovs

Software team lead

Dmitrijs Pavlovs is a seasoned Software Developer and Team Lead with over six years of wide-ranging experience across marketing, warehouse, and financial sectors, including blockchain fintech. Skilled in both front-end and back-end web development, Dmitrijs has demonstrated his leadership abilities by serving as a core developer in agile teams, successfully leading projects from conception to deployment. Beyond his technical expertise, he also excels in UI/UX design, adapting to diverse teams, and executing a broad spectrum of projects from marketing websites to comprehensive technological solutions for start-ups. His adaptability, commitment to quality, and proficiency in delivering sophisticated web applications mark him as an invaluable asset in any tech-driven environment.

Bence Toth

Machine learning engineer

Bence Toth is a skilled Software Engineer based in Delft, South Holland. He has a proven track record in various sectors, contributing significantly by automating systems at Just Eat Takeaway and co-founding Alter Ego Beauty. His expertise is in utilizing his technical skills to drive efficiency and innovation.

Sandra Mesipuu

Project manager

This individual is a natural project manager with extensive experience in product design and development, marketing strategies, sales, and event management. They have a proven track record of generating ideas and creating new business growth opportunities. They possess the ability to see the big picture, lead teams, generate leads, and build partnerships. Additionally, they have the capacity to transform individuals and businesses through their inner compass and intuitive vision. They are passionate about driving companies forward and helping individuals reach their highest potential. This individual has studied bureau and business management, IT project management, multimedia marketing and assistance. They have attended numerous webinars, including ones on Chat GPT, blockchain, tokenomics, UI/UX deisign, e-commerce, business development, spiritual practices, and has a keen passion for performing arts when business becomes mundane.