Ubiquilux wins award in Hong Kong

Ubiquilux went on a 2 week China tour, as we were selected by the Ontario government to represent scaling businesses with global potential, especially in the China market. During the tour, we were introduced to many potential investors and partners in Beijing, Shenzen and Hong Kong (where we have also exhibited our technology at the Canada Booth at the ICT Trade show).

The positive reception was overwhelming: we had many discussions and in all of them our technology was acknowledged as unique, original and very beneficial for a range of applications. The organizer of the ICT Expo, the Hong Kong Trade Development Council, gave us an award to acknowledge our “Excellent Performance” for our pitch, which also resulted in additional inbound inquiries around the product and angel investment potential. 

As a result, we have started now a series of partnership discussions and we are very optimistic that soon we will be able to sign our first new partnership agreement.

To accelerate the process (and to maximize the value we create for our investors), we have decided to use a two-step process.

The first step is a (pre-Series A) bridge raise: we offer the opportunity to invest up to CAN$ 1.5M. This round is now open – and since the amount of the raise is not really significant we expect that it will close relatively quickly. This $1.5M will allow us to bring to market the wireless and IoT sensor hub version of our switch.

The second step (Series A) will involve the possibility of various scenarios (from Joint Ventures to licensing and manufacturing partnerships) and a larger raise of $3M to $5M at a higher valuation. That raise is expected to start immediately after closing the pre Series A raise and we want to have the runway to make sure the right (smart and strategic) partners are chosen for that round.

 This approach will allow us to move quickly and it will also allow us to generate significant returns for those who participate in the bridge raise.

To ensure that we maximize the value we can get in the Greater China market we are considering to set up a Hong Kong office. This will also ensure that our new local partner(s) is (are) getting the best possible support.

While we do have some serious investors considering us - there is no deal signed yet. If you are interested to participate in the pre-Series A round to benefit from a quick increase in the value of your investment: do not hesitate to reach out!

If you have any other suggestions or recommendations to allow us to become a global leader faster: please contact me as well !