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Fobi AI debuts new-look brand with the same focus on AI automated marketing, venue bubble solutions and tracing

Snapshot

The tech company combines artificial intelligence with marketing automation to helps its customers access new-line revenue and increase engagement

Loop Insights Inc. - Loop on growth fast-track as it drives AI automated marketing, venue bubble solutions and tracing

Quick facts: Fobi AI

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TSX-V:FOBI

Price: 3.5 CAD

Market Cap: $466.4 m
  • Fobi platform provides real-time insights and analytics
  • The firm delivers venue tracing and contactless solutions
  • The company has earned repeat business from bdG Sports

What Loop Insights does:

Fobi AI Inc (CVE:FOBI) (OTCQB:FOBIF), is an Internet of Things (IoT) technology company that combines artificial intelligence (AI) with marketing automation.

The company formerly known as Loop Insights also delivers venue tracing and contactless solutions.

Its unique IoT device — Fobi — provides real-time insights, analytics, and visibility into buying trends. It also provides real-time data applications that enable retailers to improve on operational efficiencies with automated supply chain and inventory management tools. Loop offers digital adverting, marketing, research, and other related activities for retailers.

The company’s location-based marketing intelligence platform provides brands, agencies, and retailers with real-time actionable insights to optimize customer experiences.

Loop operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.

The company is headed by CEO Rob Anson who is the founder of Fobisuite Technologies.

How is it doing:

It has been a busy spell for Fobi which is seeing rapid growth in terms of its technology stack, customer acquisitions, Tier-1 partnerships, technology deployments, and most importantly, the growth of its sales pipeline.

A brand refresh occurred in late May 2021, when it debuted as Fobi AI to focus on “enterprise clients.”

The company told shareholders that the purpose of the rebrand is to help the company align with its key product, the Fobi IoT platform, as it transitions out of a startup and into an “enterprise player,” according to the firm.

In the weeks following its rebrand, in June, Fobi announced it had signed a licensing agreement with CareSpace.AI, a digital health company, to bring its Fobi Wallet Pass to higher education facilities across North America.

The Fobi venue management system will provide secure coronavirus vaccination confirmation and validation, contactless registration, promotion, payment and more. Fobi Wallet pass technology, SmarTap and Insight portal solutions will be integrated with the CareSpace CampusPass platform.

The integration of Fobi’s Wallet Pass with the CampusPass platform will also offer community partners and sponsors ways to engage with students through personalized promotions, events and digital touchpoints.

Also in June, Fobi extended its relationship with Canadian telecoms giant Telus Communications Inc (TSE:T) through a a proof of concept (POC) deal to integrate its data platform into the Telus Insights Location Services Data solution.

The two companies inked a multi-year reseller deal in May 2021 that sees Telus selling Fobi solutions directly to its national customer base.

Fobi said it will work with Telus’s Insights division to build a custom, real-time business intelligence dashboard and portal that will deliver real-time analytics and reporting to Telus clients.

Inflection points:

  • Realizing the next stage of significantly larger business developments
  • Earning repeat business from bdG Sports
  • Revenue opportunities from its agreement with Telus
  • Uplist to the Toronto Stock Exchange, followed by an application to dual-list on the US technology-laden Nasdaq

What the boss says:

CEO Rob Anson told investors recently that the company has experienced “exponential growth” from partnering with major players like Amazon Web Services, Oracle, NielsenIQ and Telus.

“With the company also completing two key strategic acquisitions this year, the need for a unified brand became quickly apparent and had to happen sooner than later,” Anson said in a statement announcing its name change. “We believe that Fobi is now well-positioned to become a recognizable enterprise leader in real-time data and digital wallet applications.”

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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