Analytics and automation startup Nuonic recently announced a strategic investment and alliance with KPMG Australia.
The investment from KPMG brings the total amount raised by Nuonic to AU$1.3 million, and adds KPMG to a prominent roster of shareholders including founders Sebastian Jezierski and Derek Hooper, and fintech firm InLoop, which is backed by Macquarie Capital and Westpac.
Nuonic’s primary product is the proprietary transport analytics platform Prism, which allows organisations to optimally manage their commercial vehicle fleets. It processes and analyses big data from IoT devices on vehicles, helping businesses generate insights and essential operational data.
Since launching in January 2017, Prism has already processed over 500 million data points for major clients in the resources, transport and utilities sectors.
What does this KPMG investment mean for Nuonic?
The strategic investment and partnership with KPMG is a watershed moment in Nuonic’s growth, according to Nuonic CEO, Sebastian Jezierski.
“The demand for Prism has demonstrated the massive market for this tech, with customers using it to make transformational changes to fleet management. Our growth to date and future potential is underscored by KPMG’s investment. Beyond KPMG’s financial commitment, our strategic alliance will help us fully explore the possibilities of this breakthrough analytics technology, develop new tools and expand our customer base,” he said.
Nuonic’s cloud-based Prism technology combines elements from advanced data analytics and automation.
KPMG will exclusively offer its clients access to Prism, with an initial focus on automating the calculation and processing of Fuel Tax Credits (FTC), in order to provide sophisticated commercial insights for vehicle fleet operators. In Australia today, there are more than 3.7 million commercial vehicles, and over 50,000 businesses claim FTC refunds each year. Globally, the market is significant.
Why has KPMG made this investment?
KPMG Australia CEO Gary Wingrove commented: “The big picture excites us. Our investment and alliance with Nuonic provides us with access to world-class new technology which enables us to build out our Fuel Tax Credits business, as well as extend into future applications such as business intelligence for road usage, cities and infrastructure. We see a lot of potential in Nuonic.”
The investment will be used by Nuonic to expand its development teams in Northern NSW, and Brisbane, and accelerate new product development.
Jezierski commented: “We are hugely excited about the global opportunities for analytics technology. Just last month Ford announced its intention to develop a Transportation Mobility Cloud – an open communications platform to manage everything from parking spaces to traffic lights.”
“This demonstrates the increasing global need for tech-agnostic analytics platforms to manage massive amounts of data, which is why scalable solutions like Prism will play an essential role in helping businesses to navigate the future.”