Luxembourg – August 2019 Upstart Tech-oriented developer, Neovate, which is poised to be the first to integrate a seamless conversational AI voice assistant -called Wisp- into the fabric of buildings, has just launched its share offering as a compliant Security Token Offering (STO) on Tokeny Solutions’ platform, the compliant tokenization platform based out of Luxembourg.
This is the company’s first asset-backed shares offering and it is in the form of “Tokenized Securities”, fully compliant with EU regulations. The attention to this project has been high as they have already attracted private investors in their pre-seed round and are now set to deploy the platform across multiple markets. They have secured their first full integration project in Asia, several arrangements with township developers, and initial agreements with fiber-optic infrastructure and broadband providers, Wisp will be launched initially to around 250,000 users within about 12 months, before expanding to a target user-base of around 10 million. The company is aiming to raise up to US$42 million, with asset-backing in the form of including fractional ownership units within a 45 storey micro-suite tower being developed in the heart of Kuala Lumpur City Centre called Neopod One (first Asian property to have a fully integrated Wisp system) into the tokenized shares. The share offering aims to allow qualified investors from all over the world to get a convenient head-start into investing in Wisp roll-out, and as a tokenized share offering it is accessible online from anywhere. Luc Falempin, CEO of Tokeny commented, "We are very excited to power Neovate's tokenized share offering and help this project be the first of its kind. We're glad to be working with such an innovative project in the PropTech sector."
Wisp as a platform is an intelligent voice and gesture interface that will allow residents in their homes and offices to interact with their living spaces using natural speech and simple waving gestures; controlling lights, temperature, entertainment, kitchen appliances, security as well as the buildings’ facilities and city services, regardless of the manufacturer of the equipment. It will also act as the built-in butler that connects to the building’s property manager’s platform to review and pay the bills, book the badminton court and control visitor access. Wisp will also be able to handle interfacing with a variety of cities’ local services enabling conference hall bookings, reserving a table at a café, calling an Uber or taxi service, ordering deliveries from restaurants and grocery stores, sending flowers, to name a few.
Sam Helmy, CEO of Neovate, explains “We developed Wisp after finding that the current solutions on the market are nowhere near the intelligent AI assistants and integrated systems that can be built using today’s latest technology platforms, nowhere near what we grew to aspire for from seeing in the movies and listening to futurist visions. It is not easy to integrate all the modules together, but it can be done with the right talent, and we certainly got clear traction to confirm the demand.”
Neovate has attracted some of the world’s most respected and specialised professionals for this project, with Tech leaders who worked at Google, Dell and Amazon before as a key part of the development team. UI/UX development is lead by Dan Mazig from Sweden, while the AI development is handled by “TopCoder” competition winner Jon Coates from the US, and well known developer Richard Forsythe designing the IoT infrastructure.
Helmy continued, “We are excited about taking control of our fund-raising and going out directly to qualified investors all over the world using the tokenized share offering. We had to make sure that the process is trustworthy and reliable, which is why we chose to be compliant with EU regulations, and chose Tokeny Solutions to be the issuance platform.”
Neovate is a solution driven property development firm renewing the way people build, live, and work in urban centres. They aim to build the most innovative property developments; projects that solve persisting problems of society using high efficiency and technology to bring the greatest satisfaction to residents.
Neovate reimagines how people interact with their homes, schools, and offices, provides them with new exciting and ultra-convenient living experiences, and develops new solutions that enhance prosperity and living standards. In doing so, we advance our way of life towards the next level as a civilization.
For media information, please contact:
About Wisp STO
Neovate has launched an EU compliant tokenized share offering out of Malta, listed under Bursa Malta and issued on Tokeny Solutions’ platform as an STO.
For more information, please visit: https://wisp.my