Key Takeaways
- iSense Global secures strategic investment from DNAKE to enhance its expansion in Southeast Asia.
- The Southeast Asia smart cities market is set to grow from $49.1 billion in 2024 to $145.8 billion by 2033.
- iSense aims to innovate smart city solutions through manufacturing transitions and co-development with DNAKE.
Strategic Partnership Boosts iSense Global
iSense Global has announced a strategic investment from DNAKE (Xiamen) Intelligent Technology Co., Ltd., aimed at accelerating its growth in Southeast Asia, particularly in Vietnam, which is rapidly becoming a key smart city market. The partnership signifies a major step toward iSense’s aspiration for a Nasdaq listing within the next five years.
The smart cities market in Southeast Asia is projected to expand significantly, tripling from $49.1 billion in 2024 to an estimated $145.8 billion by 2033. iSense leads with over 80 percent market share in Singapore’s Housing Development Board (HDB) smart lighting network, proving its role as a vital player in smart city infrastructure. Its solutions reportedly achieve up to 70 percent energy savings in parks and over 50 percent in public housing projects. Additionally, it supports extensive IoT deployments, connecting over one million devices with high valuations.
Beyond funding, this partnership will allow iSense to shift its manufacturing operations to DNAKE’s facilities. This move is expected to enhance cost efficiency, enable quicker scaling, and improve quality control. The two companies plan to develop next-generation IoT solutions across various fields, including healthcare and city-scale monitoring, by combining DNAKE’s hardware manufacturing strengths with iSense’s AI analytics capabilities.
Christopher Lee, CEO of iSense Global, described the alliance as a “game-changer,” emphasizing that it facilitates greater speed in scaling operations and the ability to tackle larger projects. Miao Guodong, chairman of DNAKE, expressed enthusiasm for the partnership, highlighting their mutual commitment to advancing urban living through technology.
iSense is already implementing major projects outside Singapore, such as the Smart City Lighting Project in Bangkok, smart lighting in Japan, and highway networks in Malaysia. Plans are also in place for expansion into the Philippines, Vietnam, Indonesia, Australia, Europe, and the US, positioning iSense as a formidable entity in the global smart city landscape.
Vietnam plays a critical role in iSense’s strategy, with its IoT market forecasted to reach $7 billion by 2025—with nearly 100 million connected devices. This growth aligns with the country’s vision for sustainable urban development. The investment marks a significant milestone in iSense’s journey, transitioning from a market leader to a globally ambitious innovator dedicated to enhancing sustainable, smart cities worldwide.
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