TraceSafe Inc said it has now sold more than one million of its wearable Internet of Things (IoT) devices.
The company noted that the offering has allowed it to increase its average selling price per device kit and build a continuous revenue stream by collecting monthly software fees.
“Forward-thinking companies see wearable technology as an opportunity to leverage the vast amount of data at their fingertips that would otherwise go to waste,” TraceSafe CEO Wayne Lloyd said in a statement.
READ: Tracesafe expects to recognize US$3.4 million in revenue for Q2 2021, a 6.6 times increase over Q2 2020
“Companies can use that data to shape their industries and create new opportunities and services for their customers,” Lloyd added.
TraceSafe also noted that its platform currently processes more than 15 million contacts per day, which it says highlights the scalability of the company’s IoT solutions and its ability to accommodate the needs of any sized enterprise.
It added that over the past year the company, together with its customers, has designed new rechargeable and re-usable devices, removing the need to manufacture a new device per user and reducing electronic waste.
TraceSafe has a portfolio of real-time location management services and contact tracing solutions enabled through advanced low-power Bluetooth beacons and enterprise cloud management.
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