X2M Connect Limited (ASX:X2M) is an Australian-based technology company focused on digitising the utilities sector across APAC with its proprietary technology.
The technology enables a range of devices and sensors to communicate with other devices, capturing data that can be analysed and processed on one platform. The benefits include the replacement of manual processes such as meter reading, the detection of leaks, valuable customer insights and increased public safety. A connection involves an initial sale of hardware and ongoing SaaS monitoring fees per device. X2M currently operates in South Korea, Japan, Taiwan, Australia and has just recently entered the Chinese market and the Australian Energy Management market. Following funding from an IPO in September 2021, device sales have grown strongly in South Korea, Japan and China, with a further $3.7m raise undertaken in July to maintain momentum. These markets remain under-penetrated relative to key client addressable markets, offering sustained hardware and software growth as there is little point having just part of a clients customer base monitored once going digital
RaaS Advisory provide various paid services to X2M and have released their initiation report on the Company.
The report is an independent report issued by RaaS and not by X2M and can be downloaded at: RaaS Initiation Report