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mIQroTech isn't accepting new investments

mIQroTech’s deadline was January 27, 2018

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mIQroTech

Where Internet of Things and Artificial Intelligence meet pipelines
Hardware B2B Subscription IoT Sensors
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$164,145
Raised
344
Investors
Successfully funded and closed on January 27, 2018.
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Closed on January 27, 2018. Information may not be up-to-date. Campaign closed on January 27, 2018. Information displayed may not be up-to-date.

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by mIQroTech, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
mIQroTech Crowd SAFE
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Hear from some of the 344 investors in mIQroTech


Show more

Deal highlights

  • Capable of preventing 93 leaks per year for the average sized customer, saving them over $18M every year.
  • Targeting a $8.72B addressable market.
  • Subscription-based business model; recurring income.
  • 6 game changing patents in the works, many more to come.
  • A projected 96% AI-assisted accuracy in determining pipeline risks.

Oil and gas industry has a massive leaking problem.


Predict leaks before they happen.

Our solution set is three parts:

A hardware device, using Internet of Things technology, collects data using the most important variables to pipeline longevity. This data is then transmitted wirelessly to our cloud-computing systems. Finally, this data is analyzed by artificial intelligence modules to help see risks humans cannot.

Our Internet of Things (IoT) devices are rigorously tested to meet the demands of the industry.

Recording this data at up to 48 data-points per second, this data is submitted to our cloud-based storage for review from our Artificial Intelligence modules.


Market Demand

Growing Infrastructure

Thousands of miles are added every year to the already enormous, 2.5 million mile network of pipeline.

Huge Savings

A medium-sized company can save over $18M by switching to our artificial intelligence system, allowing that customer to avert 93 leaks every year.

Our technology not only alerts stakeholders in the case of a sudden disaster such as an earthquake, but using our AI, we analyze the longevity of the pipeline and its wear to predict failures.


Customers

Through what we call our "Experimental Partner" program, we are perfecting our technology with some of the biggest names in natural gas.

Targeting mid-sized pipeline and production companies in Pennsylvania, West Virginia, Ohio, and Texas, we are aiming to gain dozens more customers within first six months of production.

Business Strategy

Our business model is two fold:

  1. Customers buy each device.
  2. Subscription fee to access the interface and receive alerts.

Customers pay for a subscription fee based on how many devices they have. These subscription tiers are below:

We want to overwatch every pipeline in this country; All 2.4 million miles. That will be nearly 500,000, industry changing, devices deployed.

Our Goal

We are aiming to capture 5% of the pipeline monitoring market in the next five years.


Future Vision: Innovation Industry Wide

After solving the midstream pipeline crisis, we plan to design three systems to further expand our reach on revolutionizing the oil and gas industry:

Our objective in these projects is to become the "missing link" between the oil and gas market of today and the energy source of tomorrow. This, what we are terming as "Petroleum 2.0", the safe oil and gas market, will bring the industry the innovation it is so desperately in need of.

Competitive landscape

We provide our customers with many features the competition does not:

Our devices are also mounted externally; no need to tap into the pipeline. In addition, our solution is cheaper than our competition.



Meet the Founders

We are a lean, mean innovation machine. This mitigates our costs and allows us to focus on our solutions and projects.

Meade Lewis, Founder - Moving to the energy industry, Lewis was quickly elevated the Information and Technology Officer role for two growing firms. There, he managed projects and visions of radio frequency identification, hydrostatic pressure testing modules, embedded microprocessor board technology, and real-time sensing and computing systems. In this next step, he plans on bringing his leadership, inventive mind, and IoT expertise to the oil and gas, mid-stream market.

Justin Stewart, Co-Founder - During his 15 years of database admin experience, Stewart has developed proprietary processes and work products propelling project deliverables and client relationship with success. With clear vision, strong design and creation instincts, and passion for honest communication, Stewart confidently commands the helms of process efficiency and product quality. The IoT space feels like home for this gadget guru with database prowess.


Why Invest

1. Huge, growing market with little innovation

With our state of the art technology set, we are on trajectory to truly shake up the industry. With petroleum demand ever increasing and thousands of miles of new pipelines made every year, pipeline monitoring will grow to meet that demand. Valued at $8.72B by 2026, our disruptive approach is aiming to capture 5% of that market in just 5 years.

2. Funding a better, greener future

We are focused on creating a safer petroleum industry; Petroleum 2.0. Projected to have a 96% accuracy, our Artificial Intelligence is using advanced neural networks and our IoT solution captures data at blazing speeds. Our solution will make pipeline leaks a thing of the past; No more environmental damage and oil and gas companies save money in the process. This makes our solution beneficial for everyone.

3. Subscription-based, Recurring income

Our customers are here to stay. Not only is our service invaluable to them, but our tier-backed subscription market strategy makes sure that customers can expand their service as they need to. This means that rather than being a single purchase, customers continue to pay for the services and data we provide, producing profits to fund new projects.

Deal terms


Valuation cap

$8,913,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

18%

If a trigger event for mIQroTech occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$25

The smallest investment amount that mIQroTech is accepting.
Learn more

Funding goal

$1.07M

mIQroTech must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
mIQroTech needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by mIQroTech, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
mIQroTech Crowd SAFE

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in mIQroTech.
147 investors
Invest
$100
Receive
  • Your name on the "investors" page of our website to thank you.
  • You can choose not to have your name listed.
  • Limited (103 left of 250)
Invest
$250
Receive
  • Our engineering runs off of coffee. You get an investor exclusive mug with our logo to show your support.
  • (All of the above included)
Invest
$500
Receive
  • Get your very own mIQroTech t-shirt to show off your investor status!
  • (All of the above included)
Invest
$1,000
Receive
  • Get access to live Q&A/progress sessions with the Founder and Co-Founder over webcam! (All of the above included)
4 investors
Invest
$5,000
Receive
  • An individual meeting with the Founder via webcam! (All of the above included)
  • Limited (21 left of 25)
2 investors
Invest
$10,000
Receive
  • Get invited to an exclusive investor event/party at our office to celebrate the completion of the campaign! (All of the above included)
  • Limited (48 left of 50)
Invest
$25,000
Receive
  • Get invited out to the lovely State College, Pennsylvania, where we will travel to see our devices in action! We also enjoy food, so let's do dinner and coffee! (All of the above included)
  • Limited (5 left of 5)

Why others invested

See all reviews (0) See all (0)

I invested in MiQroTech because the oil and gas industry will grow over the next 3 years during the current presidential administration. The product looks promising and subscription businesses are easy to forecast as far as income.

Profile picture of Patrick O'Toole
Patrick O'Toole
Investor
over 7 years ago

Fascinating upside potential.

Profile picture of Yvette Korell
Yvette Korell
Active investor
over 7 years ago

Oil industry needs new innovative products and services for production at the same time protection of the environment

Profile picture of Steve Lehenbauer
Steve Lehenbauer
Active investor
over 7 years ago

About mIQroTech

Legal Name
mIQroTech, LLC
Founded
May 2016
Form
Pennsylvania LLC
Employees
0
Website
miqrotech.com
Social Media
Headquarters
Google Map location of of mIQroTech
660 Toftrees Avenue, Condo #308 , State College, PA
Headquarters
660 Toftrees Avenue, Condo #308, State College, PA, United States 16803

mIQroTech Team
Everyone helping build mIQroTech, not limited to employees

Profile picture of Meade Lewis
Meade Lewis
Founder
Featured in Superheroes · Read
Moving to the energy industry, Lewis was quickly moved into the Information and Technology Officer role for two growing firms. At mIQroTech, he plans on bringing his leadership, inventive mind, and IoT expertise to the oil and gas, mid-stream market.
Profile picture of Justin Stewart
Justin Stewart
Co-Founder
During his 15 years of service, Stewart has developed proprietary processes focused on project deliverables. The IoT space feels like home for this gadget guru with database prowess.
Profile picture of Dean Love
Dean Love
Unofficial Industry Advisor
Profile picture of Richard (Rich) Herbold
Richard (Rich) Herbold
Financial Advisor
2 more team members
Meade Lewis
Founder
Justin Stewart
Co-Founder
Dean Love
Unofficial Industry Advisor
Richard (Rich) Herbold
Financial Advisor

Press

TEDxPSU
Tedxpsu Tedxpsu
·
Jan 15, 2018

"By the age of 21 Meade Lewis was the chief information technology officer (CITO) of multiple oil and gas firms where he ...

Startup Showcase: mIQroTech
WGN Radio - 720 AM WGN Radio - 720 AM
·
Jan 6, 2018

Today on the show Technori's Scott Kitun and Partner with Kelley Drye & Warren LLP Matt Luzadder talk to the founder of m...

Ocean Class 4 - Press Release
Google Docs Google Docs
·
Jan 4, 2018

Cincinnati-based business accelerator, OCEAN, announced its fourth class today. This year’s class of 8 startups will be ...

Crossroads-founded Ocean Accelerator names new class: EXC...
Cincinnati Business Courier Cincinnati Business Courier
·
Jan 3, 2018

Ocean Accelerator, the Crossroads Church-backed tech accelerator and the first in the nation to provide spiritual guidanc...

Logo of mIQroTech

mIQroTech

mIQroTech successfully raised $164,145 from 344 investors on January 27, 2018
Profile picture of Chris Wenchell
Profile picture of PETER JUNOT
Profile picture of Connor Close
Profile picture of Anthony Caracillo
Profile picture of Neeraj Sabharwal
Chris, PETER, Connor, Anthony, Neeraj, and 339 others invested. 116 Reviews
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