Jesse Lee the co-founder and CEO of M2M Circuits, spoke at Dallas new tech on Tuesday. Lee was originally in Cyber Security, but co-founded M2M Circuits to focus on bringing 4g to the IoT.
He was first inspired to get into this space by his father-in-law, who worked on over 40 water wells, that were out in the middle of nowhere. The electronics used had not previously been able to be connected to the internet in an affordable way. Lee realized there was a huge opportunity to bring 4g services to connect these devices and make them accessible and controllable remotely. Now, these connected devices are capable of sending a text or even MMS to your phone. He was able to accomplish this by leveraging something most of us use every day- 4g cellular networks.
The perks to the M2M Circuits model are vast. With an open API, they ensure that expanding internationally later on will not be an issue. Being able to piggyback off current mobile networks allows his devices to fall back to 3g connections, should the 4g connections falter or become unavailable.
Their target audience is wide. The target markets include oils, gas, agriculture, shipping and receiving, banking, vending machines, and even the commercial drone industry. Unfortunately, due to the technology involved, the cost to begin is around 100k.
Check out Lee’s pitch below.