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Tracesafe is playing a key role in reopening economies in a post-COVID-19 world with its wearable safety technology

Snapshot

The company has developed a suite of real-time location management services and contact tracing solutions enabled through advanced, low power bluetooth beacons and enterprise cloud management

TraceSafe Inc. -

Quick facts: TraceSafe Inc.

Price: 0.7 CAD

CSE:TSF
Market: CSE
Market Cap: $24.81 m
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  • Full suite of self-quarantine monitoring technology that consists of a bracelet or access card that has an embedded chip that can trace the wearer’s location
  • Designed with user privacy and security in mind
  • Currently in use by governments and private enterprises around the world to help manage the coronavirus outbreak
  • Signing major contracts in regions like Singapore, Hong Kong, India and Texas

What Tracesafe does:

Tracesafe Inc (CSE:TSF) is playing a vital role in the safe reopening of a post-coronavirus (COVID-19) economy.

Headquartered in the British Virgin Islands and listed in Canada, the company has developed a suite of real-time location management services and contact tracing solutions enabled through advanced, low power bluetooth beacons and enterprise cloud management.

Designed with user privacy and comprehensive administrative control, the TraceSafe suite of products do not require the installation of apps on user cell phones. Its wearable technology only collects anonymous interaction data with other wearables, and all communication between devices is secured using top-level encryption.

The product comes in either a clip tag format or as a wristband that an administrator assigns to a user, which is then viewable on Tracesafe’s cloud based platform where access levels can be assigned based on needs.

In addition to their government work, Tracesafe is developing leading edge solutions for enterprise, healthcare, education and large-scale venue management.

Led by a strong team of wireless technology professionals, including Dennis Kwan, who heads up TraceSafe Technologies Inc, the firm is well set up to deploy its safety management portfolio to help the world emerge from a global crisis.

How is it doing:

With global contracts rolling in around the world, Tracesafe is seeing its most significant growth in the Asian region – especially in Singapore.

The firm has established an operating team in the city state to help support and expand the application of its products in the healthcare, government, and construction sectors. It is already working with Singaporean construction firm Boustead Projects E&C Pte Ltd, who will use the company’s location management technology as it reopens its construction project sites.

In November, Tracesafe launched a new product line called "Patient Path” and a pilot project at a leading 1,000-plus bed hospital in Singapore. Patient Path assigns a wearable device with a dynamic display that navigates patients through the interior of a hospital. Patients are guided by the device and the cloud-based system ensures they arrive at the correct location in time for their appointment. In addition, the team was rewarded with cost subsidies and a funding advance of SGD$300,000 after winning an award from the Singapore National Innovation Challenge, allowing the company to fast track its projects in the region.

Outside of Singapore, the company received an order for 120,000 wristbands by the Hong Kong government. TraceSafe’s disposable wristbands have been utilized in Hong Kong since the end of March to assist the authorities in managing and enforcing its quarantine program for foreign visitors and returning citizens.

The firm also received a large new order for 30,000 wristbands and its new LTE Gateways from a southeast Asian technology and defence conglomerate.

In India, Tracesafe is teaming up with technology startup Spykke Innovations to deploy TraceSafe’s quarantine management solutions in Bengaluru, the fifth-largest city in the country.

Closer to home, the firm will send over 1,000 wearable devices to an education client in Texas, representing its first foray into the fast-growing sector.

Inflection points:

  • Reopening of economies and venues in a safe manner as the pandemic continues
  • Increasing the adoption of smart technology in the workplace
  • Deployment of massive amounts of wearables to government and private sector
  • Further partnerships and deals

What the boss says:

In an interview just after winning the innovation award in Singapore, Tracesafe Inc CEO Wayne Lloyd told Proactive: “COVID was a catalyst for the deployment of wearables in enterprise, but we see that trend accelerating. This award is about the integrated management of workflow and workforces, which is where we sit. We see enterprise wearables as a larger and much longer-term trend.”

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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