When it comes to financial success, it's important to note that Om3ga is still at a very early stage of development and that it is the first startup team from Montenegro to attract capital from the two most important regional companies which invest in technological startups – ICT Hub Ventures and South Central Ventures.
This is more of a pre-seed than a seed investment, which usually serves to have a prototype developed into a beta version of the product. However, the prototype developed by Om3ga Solutions has had a stronger performance and offered more possibilities and options than the competition from the start, so their beta product, completed in the last week of February, is already a market-ready product, and the startup's team is in the process of preparing contracts with their early clients.
So, in addition to the initial investment, they have an open pipeline for another round of investments, considering that South Central Ventures is an investment company with a capital of EUR 40 million for investments in the startups of the region. In mid-2019, they are expected to exceed the earnings needed for the second round of investments, which would bring the company's value to 5 to 10 million euros.
When it comes to early clients, Om3ga Solutions counts truly important institutions and companies from the region among its clients. The total value of these contracts should reach 100,000 to 400,000 euros by the end of June, which would open another investment round of half a million to three million euros, bringing the company's value up to 5 to 20 million euros.
As for the clients that are a part of city and state administrations, the situation is even better, as most legal acts say that servers used by state organs must be physically located in that state, so the majority of institutions already own their own servers, which increases the company's profit compared to the classic B2B which they otherwise do.
Due to the great scalability, Om3ga Solutions is the first startup from the region in which SCV has invested in such an early phase, which is a kind of an indicator of the company's great potential for growth and income.
The main competitive advantage of this startup is that their solutions do not require a loss of money and time to create functional dictionaries in various fields and for different states, which gives them several additional advantages.
First of all, they can offer far lower prices than the competition, as the client adapts Daktilograf to their own vocabulary and terms characteristic for their profession through training. Furthermore, in B&H, for example, which has three official languages, institutions would have to buy special solutions for each language and specialized dictionaries for various fields if they bough solutions from the competition.
Also, the company develops apps for the needs of their clients very quickly. They have already received orders for apps Snimac, RTV2WEB Konvertor, Zapisnicar, Sudnica, Stenogram, Sastanak Odbora and others, which points to the need for this kind of software in numerous industries and the public administration.
In the second half of 2019, Om3ga Solutions is looking at the launch of apps in the most important world languages, with which it will enter the global text2speech market, whose annual value stands at USD 23 billion.
If Daktilograf Engine is your investment of the year favorite, you can vote for it on Aurea's official website