Kilkenny's DataEgg signs big Huawei deal
DataEgg, a Kilkenny-based company specialising in the delivery of industrial augmented reality (AR) applications, has signed an agreement with Huawei Technologies that could see the company expand rapidly.
CEO Gary Sheedy said DataEgg is in talks over a number of potential multi-million-dollar deals that it hopes to sign by the end of the year. So far it has been funded by co-founder Brendan Morrissey's $300m venture capital fund.
DataEgg's technology enables its customers to automatically generate AR content based on their own workflows for use in a range of tasks such as inspection, supply chain management, maintenance and training.
The agreement will see the pair develop and jointly bring to market augmented reality and connected IoT solutions addressing opportunities in the SmartFactory and SmartRetail spaces throughout Europe.
Huawei will use DataEgg's platform to offer AR solutions to its customers in areas as diverse as automotive manufacturing and the retail sector. "The potential monetary value of this deal is huge. Given the potential customers we are talking to at the moment, it could run into hundreds of millions very quickly because of the scalability of it.
“It is very exciting. We are now engaging on deals with automotive manufacturers in Germany, with telcos across Europe. We are at a level where we are looking to deliver scale,” said DataEgg CEO Gary Sheedy.
He added that the company was initially focused on regulated industries, such as the pharma, medical devices and automotive sectors, because “we see massive value in being able to automate that regulatory process because it is so expensive”.
Sheedy said that DataEgg’s technology had the ability to help workers in many different types of factories and facilities to do a diverse set of tasks without going through huge amounts of training to do it.
“It also helps companies to broaden what they can do and increase production so they benefit too. So it is a win-win type of technology,” he said. The company is currently hiring and expects to bring in 20 new staff this year in areas such as program management, solution architecture and business development.
Co-founder Brendan Morrissey said that DataEgg had been “in stealth development” for over a year.
“Our mission is to become the leading industrial app development platform empowering companies institutions and individuals to easily generate AR content and solutions on any device,” Morrissey said.
“Our agreement covers the delivery of location-based services integrated with AR applications and solutions utilising current and new tracking technologies. Our Huawei partnership enables DataEgg to scale quickly and gain market share.
“We’re excited about the business and technical opportunities both companies can now address together,” he said.
Sunday Indo Business