The biggest outcome of Sensefinity’s participation in Blockstart was the update of its value proposition and its impact on the company’s business: they got access to new markets and customers.
Although the company manafuctors Trackers and Sensors, it is not a hardware company. Meaning that they are in the business of producing data that makes supply-chains visible. That data is generated by Sensefinity’s devices but is transformed into information and insights by its cloud services. It’s only when that information materializes as real-time alarms, analytics reporting and ML predictions that the true value emerges. Adding blokchain to Sensefinity’s platform enables to add a new layer of value: it’s not just another feature but a new dimension. The source of truth dimension. With this updated value proposition, the company can enter a new world of markets and opportunities such as food provenance, luxury assets as art collections and identify certification for logistics operations.
Such value proposition update reflects on Sensefinity’s business model. The company created a new service offer and its respective price thus generating a new revenue stream. It also increased its target market, growing its total market, which will also impact fundraising opportunities. In fact, the company has updated its pitch deck to reflect it.