Lexi launches crowdfunding effort to boost its enterprise IoT platform

Lexi launches crowdfunding effort to boost its enterprise IoT platform

Lexi, an enterprise IoT platform provider, has announced an equity crowdfunding campaign on the Republic investing platform. Lexi’s software allows businesses to manage and automate the smart home ecosystem through a single interface.

By launching the investment campaign, the IoT platform provider will bring more attention to its enterprise IoT solution, executives hope. According to Lexi, it earned $2.5 million in 2021 and may triple that revenue in 2022.

Lexi’s white-label Enterprise IoT Platform includes a multi-protocol gateway that is upgradeable to Matter, iOS and Android mobile apps. The company says it has an extensive IoT product portfolio, a U.S.-based cloud service model, a platform-as-a-service business model, and monthly recurring revenue services.

“Through our software, hardware and services, we facilitate the smarter home, smarter building, smarter everything,” said John E. Osborne II, COO at Lexi. “Lexi enhances experiences to nurture the relationships we’re making with the technologies around us. Our platform and the people behind it all work diligently to propel the promise of the IoT.”

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Lexi offers support to most of the major smart home ecosystem products from Amazon, Google, Samsung and soon Apple HomeKit. The IoT platform has rich support for wireless connectivity, such as Wi-Fi, Bluetooth, Zigbee, Z-Wave, LoRaWAN and cellular networks.

The Lexi universal IoT gateway is upgradeable to new IoT protocols, Thread and Matter. The IoT platform stores all data securely and privately in the cloud, costing 90% less than similar offerings.

“In addition to our solid technical advantages, our senior executives have been in the IoT space for over a decade,” said Scott Cahill, CEO at Lexi. “This gives us a front-row seat to not only see but more importantly to help shape what’s coming next in the IoT space.”

Lexi universal IoT gateway controls complex smart building deployments with integrated multilayered network security and the ability to run AI models at the edge.

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