Thingswell

Thingswell operates in Hangzhou, China, focusing on commercial concrete solutions. Founded by Wang Haijun, the company has pivoted to IoT technology to streamline concrete logistics.The company, Thingswell, specializes in providing an integrated intelligent commercial concrete solution based on Internet of Things (IoT) technology. Their core offerings include a comprehensive smart concrete mixing and delivery system that utilizes an array of devices such as mixing plants, remote control systems, access control systems, and weighing systems. This system is designed to optimize the concrete production and delivery process, ensuring that concrete is poured within a limited time frame to prevent deterioration. The target customers include construction companies and contractors who require various concrete types, quantities, and delivery schedules, especially in urban areas where logistics can be affected by traffic, weather, and other unforeseen events.The revenue model for Thingswell is based on direct B2B transactions with construction firms and contractors who utilize their smart concrete solutions. Clients benefit from a streamlined ordering process facilitated by mobile applications that enable real-time ordering and delivery management. The transactions typically involve pricing structures tied to specific quantities of concrete ordered, with potential partnerships based on long-term supply agreements. By leveraging IoT technology, the company enhances efficiency and reduces costs for its clients, fostering recurring business relationships. The company is focused on developing new IoT-based concrete solutions that will be launched in the upcoming year. Furthermore, there are plans to expand into other key regions within China and potentially explore markets outside of the country by the end of 2023.

1. Angel

   Sep 17, 2021

   Amount

   $1.5M

   Investors

   Locked