The Golden Phoenix Story of Iveda
We all have heard of some nice growth stories in a hot industry sector sometimes but this one is a very unique growth story to take note. Let’s examine this dynamic growth story of Iveda.
“I” means “intelligent” and “VEDA” means “see” in Italian. And that was the birth of a very promising AI technology company today where the sky’s the limit for this golden phoenix. A mysterious fire flashes from its eyes and a flaming aureole enriches its head, the phoenix is a long-lived bird associated with Greek mythology, with analogs in many cultures, that cyclically regenerates or is otherwise born again with eternity, strength, and renewal.
Yes, Iveda got it all with the phoenix’s symbol of growth during its journey of fire and passion – solid management team, strong board, in large and growing markets, high demand solutions in emerging growth space (AI, IoT, Digital Transformation/DX), high margin software licensing recurring revenue model, strong distribution channels, global presence, capital market reboot in progress, and sizzling news of recently signed contracts showing great potential toward a path to profitable growth and stability. Too many fundamentally successful factors here! What else do we need in a great company like Iveda which is about to reach the valuation it deserves? Potentially a billion-dollar company in the work?
A few years ago, Bill Gates has announced plans to build a smart city outside of Buckeye in Arizona. Through his subsidiary Mt. Lemmon Holdings, the billionaire spent $80 million to purchase more than 24,000 acres of land with plans to build a smart city. Isn’t his visionary plan also in alignment with what Iveda has been planning for leading to its SafeCiti™ platform to reflect a globally appealing business model toward its Digital Transformation strategy.
Fueled with a wealth of IP portfolio having been built around this next big thing, Iveda is at the forefront of Digital Transformation today, rebooting its capital market plan aiming to build a better future for its existing shareholders. The day of ringing the bell at NASDAQ (see NASDAQ listing requirements) might not be too far away for Iveda.
Iveda® (OTCMKTS: IVDA) has been offering cloud video surveillance technologies to service providers. Today, Iveda is at the forefront of digital transformation of many cities across the globe. David Ly, chairman and CEO, founded Iveda in 2003. Under his leadership, Iveda has evolved into a mature, global organization, partnering with service providers for distribution of its products and services. Iveda continuously innovates and remains committed to its vision of providing cloud-based technologies on a global scale using advanced AI and IoT technologies developed by its elite technical talents.
The Department of Homeland Security (DHS) awarded Iveda the SAFETY Act Designation, as a Qualified Anti-Terrorism Technology provider in 2009. The Designation provides liability protection for Iveda, its partners and its customers. The DHS elevated Iveda’s status to “Certified” in January 2016. This placed the company’s technology on the “Approved Products Lists for Homeland Security.” The Certification is currently under renewal review.
Based in Mesa, Arizona, Iveda was founded in 2003. Iveda became a fully reporting, publicly-traded company in 2009, trading under the stock symbol IVDA. MEGAsys, based in Taiwan, is a wholly-owned subsidiary since 2011. The company currently has a total of 30 employees located in the US, Mexico, and Taiwan.
In March 2018, Iveda voluntarily filed Form 15 with the SEC to stop being a fully reporting publicly traded company in order to reserve its capital to wittily dedicate its focus in R&D to build a stronger technology platform which is much more advanced and scalable. Iveda then quickly aimed to become the next-generation AI technology leader in security, IoT, smart home, smart city and healthcare applications. With the superior technologies in the pervading Digital Transformation age today, Iveda now resurfaces itself, getting ready for the next bigger strategic move.
With an immediate plan to reboot its capital market strategy, Iveda has planned to be fully reporting in near term future as revealed in its recent press release dated March 2, 2021. “In alignment with our new corporate roadmap as one of the top industry leaders in our field, Iveda is planning to execute on its total reboot strategy toward capital markets. This will soon culminate in Iveda’s return to full reporting status, as it strives to realize promising new revenue streams in our recently expanded sales pipelines and continues on its steady path to profitability,” stated CEO David Ly.
In effect, Iveda filed all financial disclosure with OTC Markets in late May 2021 and reached the Current Pink Sheet status on June 2, 2021. The Company subsequently plans to engage with a PCAOB auditor to complete its financial audits to come back to the fully reporting OTCQB status. Iveda even has a plan to move further to uplist to a more senior stock exchange as it anticipates a significant revenue growth by this year end 2021. With a currently healthy financial status, Iveda has disclosed some of its new achievements as seen in very exciting public announcements lately.
Recent Press Releases
May 24, 2021: Iveda Announced Appointment of Greg Omi as Chief Technology Officer
“I’m confident that with Greg’s addition to our executive team, we can crystalize our position as a leading force of Digital Transformation and Smart Cities, leveraging AI (artificial intelligence) and AR (Augmented Reality) technologies delivering even stronger value to our partners and end-users globally,” stated CEO David Ly.
May 17, 2021: Iveda Announced a $1.5M Contract with Taiwan Taoyuan International Airport
“Over the years, we’ve successfully demonstrated our capability to deploy smart city solutions, said CEO David Ly. “As we develop new technology to fuel the digital transformation of many cities, Iveda is leading the charge in making cities worldwide, truly smart.”
May 3, 2021: Iveda Resumed $1.7 Million Contract from Chunghwa Telecom/Farglory Dome
“Having Chunghwa, the largest integrated telecom service provider in Taiwan, trusting our ability to deploy a cloud video surveillance system on a large scale further validates our credibility and the quality of our technology,” said CEO David Ly.
April 26, 2021: Iveda Won Taiwan Power Co.’s 30-Year Green Project with Chunghwa Telecom
“Long-term projects like this will help Iveda, not only in Taiwan but other parts of the world to realize its Smart City implementation successes,” commented CEO David Ly. “For a city to be truly smart, secured connectivity for delivery of sensitive data is vital. We continue to innovate to respond to the ever-growing demand for smart city technologies.”
April 19, 2021: Iveda Introduced Smart Utility Cabinet for Smart City Solution
“Iveda’s Smart Utility Cabinet is an important addition to our growing line of DX Smart Utility solutions for smart building and smart city deployments,” stated CEO David Ly. “Our technology roadmap will expand to complete our DX offering.”
April 9, 2021: Iveda Entered Hospital Asset Management Industry with 2021 Artificial Intelligence Award Winner Claro Enterprise Solutions
“We are honored to be a part of Claro’s solution. The financial model they built for hospitals riddled with massive losses on misplaced and lost mobile medical equipment makes a lot of sense for hospitals to implement,” said Iveda CEO David Ly.
March 2, 2021: Iveda Made It on the List of Top 25 Industry Players in Video Surveillance and Storage Market
“This achievement of making it on the hefty list of video surveillance and storage market leaders including Honeywell, HP, Cisco, Western Digital, Pelco, is the direct result of our management’s dedication during the past few years to invest more time and resources to fine tune and finalize all facets of our digital transformation product offerings. Today Iveda is sturdily determined with its reboot efforts in its state-of-the art technology suite to enter numerous essential industry applications including airports, construction, retail shopping, situational awareness, smart city, school, traffic management and others, garnering new channel partners in both international and U.S. domestic markets,” stated CEO David Ly.
Key Technologies and Products
IvedaAI™ is Iveda’s intelligent search technology utilizing deep learning technology, enabling accurate search across dozens to thousands of cameras in less than 1 second. IvedaAI video search is similar to Google for text search. AI video search allows users to search for a combination of objects (100+ types) with multiple colors and quantities in both real-time and recorded videos. IvedaAI works with any ONVIF-compliant IP cameras and most popular NVR/VMS platforms. IvedaAI servers include multiple AI functions such as face recognition, intrusion detection, object search, and license plate. IvedaAI intelligent video search technology adds critical intelligence to normally passive video surveillance systems.
IvedaPinpoint™ technology centrally manages Bluetooth trackers and sensors and display them on a map for exact location. Trackers and sensors are small devices that can track assets and people such as medical equipment at hospitals, students at schools, workers at factories, and dementia patients at senior care facilities. The same platform manages TempPad sensors to monitor temperatures of patients at hospitals for increased nurse productivity and employees and students for initial COVID-19 screening and contact tracing.
Sentir™ DX Cloud is Iveda’s IoT platform with smart sensors and devices specifically developed for service providers for smart home and smart city solutions.
Sentir™ Video is Iveda’s core IP Video Surveillance technology where Iveda got its start. The solution consists of IP cameras, NVRs (Network Video Recorder) and CMS (Central Management Software).
Cerebro™ is a software technology platform that integrates a multitude of disparate systems for central access and management of applications, subsystems, and devices throughout an entire environment. Cerebro™ provides remote access to a Dashboard for a single user interface. Cerebro™ provides a convenient anywhere, anytime access and analysis of relevant information in a timely manner for managing an entire organization or city. Cerebro links city systems and subsystems inseparably to each other. This integration and unification of all subsystems enables acquisition and analysis of all information on one central entity allowing comprehensive, effective and overall management and protection of a city.
IvedaSPS™ technology converts existing power panel into smart, self-managed system, integrated into smart city initiatives and buildup. This technology concludes digital transformation crucial in smart city deployment solutions as well as in large organizations.
Iveda’s ideal customers are service providers with millions of loyal subscribers, accustomed to paying a monthly fee for service. Such companies include telecoms, data centers, Internet Service Providers, and security integrators.
Some of its largest customers are Claro (200MM subscribers), PLDT Telecom (70MM subscribers), and VNPT Telecom (70MM subscribers).
With its products on the Approved Product Lists for the DHS, Iveda has built a very stable and growing revenue generation platform over years of arduous works via long-term partnerships with industry leaders and value-added resellers who have multi-year and sizable contracts with the U.S. government and its worldwide allies.
Iveda implements its 2-pronged revenue model to ensure recurring revenue sources. With high gross margin, its software licensing fees include monthly hosting and annual software maintenance services. Iveda’s end user applications include the following:
- Safety and Security
- Temperature Monitoring
- Public Health Analytics
- Asset Tracking • Smart Home
- Smart City
- Intelligence Building management
- Energy Efficiency
- Environment Preservation
Iveda, while constantly innovating more technologies, actively participates in $74.6 billion global video surveillance market by 2025, $561 billion global IoT market by 2022, and $190.61 billion artificial intelligence market by 2025. (Source: MarketsandMarkets)
With several years of technology development and innovative ideas from its talented and hard-working engineers in large and growing markets in the Ai era, Iveda is getting stronger in customer base expansion today while its management team is highly committed to build a much greater company with unstoppable global expansion with an ambition to be the next power house of the Digital Transformation sector, Iveda has demonstrated its recent corporate transformation and accelerated growth in many directions with these noticeable remarks:
- Iveda has entered the AI sector which is one of the hottest sectors in the capital markets today.
- With high demand solutions, Iveda currently occupies worldwide markets in several countries with a $190B market potential.
- Entering emerging growth space – AI, IoT, Digital Transformation (DX), Iveda has recently reinforced its technology stronghold by evolving advanced technologies supporting its scalable business model with smart home, smart city and senior care solutions among many others.
- With high-margin software licensing recurring revenue model, Iveda anticipates stronger revenue growth and more stability in near-term future with recently signed contracts to soon achieve its path of profitable growth.
- Iveda holds a strong IP portfolio applicable in several useful applications.
- Iveda has strong distribution channels via long-term partnerships with ANCs (Alaskan Native Corporation) having sizable government contracts and continued relationships with many large telecom/service provider companies in several countries including US, Canada, Mexico, Costa Rica, Taiwan, Philippines, Vietnam, Japan, South Africa, Egypt, and Caribbean countries.
- The Company has a very experienced board and solid management team led by its visionary and dynamic CEO who is highly committed to build a multibillion-dollar enterprise via a scalable business model in the rising AI era.
- Iveda has recently announced its total reboot in capital market strategy, aiming to uplist while showing noticeable achievements, thus demonstrating its serious intention to continue its growth in all directions.
Iveda – a company on the ubiquitous move? What would be better than a global solutions provider specializing in AI technologies and real-world applications that constantly improve our quality of life and safety worldwide?
Always do your own analysis and make your own sagacious decision.