Loop Insights Inc. (MTRX:TSX.V) announced in a news release that its discussions with various government, live events and stadium officials about its automated COVID-19 contact tracing solution have gained traction since its June launch.
"Receiving this level of interest across verticals and geographical borders is a true testament to Loop's unique Internet of Things connectivity capabilities," CEO Rob Anson said in the release. "Our core technology has always been built on automation, simplicity and usability. To be able to support the health, safety, and economic recovery of communities is incredibly motivating. Our opportunity to expand Loop’s global reach has never been greater."
Interest has come from the United Kingdom, North America, Australia and Indonesia.
Loop noted that its contract tracing platform seamlessly integrates into entities' existing technologies through its SIM-enabled connectivity and compatibility with up to 40 languages. As such, it can be deployed quickly anywhere around the globe and scaled up as needed.
The Vancouver-based artificial intelligence tech firm stated that from its contracts with governments for the contact tracing platform, will garner revenue in various forms: onboarding fees per location, an annual software licensing and service fee and, on ongoing basis, active user fees.
From its contracts with venue operators, Loop will generate revenue from onboarding fees, monthly Software as a Service subscription fees and active user fees, the company noted.
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