Mero – 20 October
Mero is providing sensing on critical supplies such as soaps, sanitizers, and paper products for a safe return to public spaces. The product utilizes flexible sensing on any commercial dispenser and dispatches cleaning staff to areas before dispensers run empty, for an up to 30% more efficient operation. Mero’s devices are already deployed at hospitals, offices, stadiums, and airports.
Numerous competitors exist in the market, such as InnerSpace, that uses spatial recognition of traffic and people in facilities. However, Mero’s key differentiation is their ability to measure down to the level of dispenser supplies, allowing them to prove ROI instantly in the first few months.
Tork, EasyCube, and Kimberly-Clark Ovation are other competitors prevalent in the market, but from these companies, Mero’s solution stands apart as they are the only company to:
- Implement a proprietary algorithm for cleaner routing, based on historical usage trends
- Partner with distributors and suppliers on the way to create intelligent inventory management in facilities for the first time
- Have a single sensor board for all implementations, maximizing the flexibility of installation, battery life, and range
Mero grew at nearly 40% MoM since September 2019. The customer base spans ~60 buildings in Toronto, Calgary, London UK, Boston, and Calgary, and have expanded to over 4000 devices globally. Customers include enterprises such as QuadReal Property Group, Colliers International, Crown Property Management, Gatwick Airport, Pearson Airport, and more.
Mero has validated a significant market need for their products, especially following COVID-19, and cash concerns are top of mind for the firm.
The founding team consists of individuals with backgrounds in property management who each have an extensive network in the Toronto property management space, including CTO, Cole MacDonald.
Their CEO and Co-Founder, Nathan Mah, has experience working in real estate development. Both founders are graduates from Queen’s University, where the concept for Mero was initially generated. Since attending university together, Cole and Nathan have gone on to scale and grow Mero in Toronto and internationally. They have a team of engineers across hardware, data science, and analytics, focusing on delivering value and ROI to their customers.
Mero raised $850k on a convertible note in Q1 2020. Currently, Mero is looking to raise $2.5 million to expand its product through distributor networks and grow AI-routing capabilities of alerting platforms.
They are also aiming to expand their sales, marketing, and software teams to continue building leading analytics and cleaner routing platforms.
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