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Nornir - Real Time Web

Nornir - Real Time Web

The New Web -Decentralized AI Infrastructure for Web; establishing the event-driven linking network standard

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Deal Type

Equity

Funding Goal

$1,500,000

Current Reservations

$860,000

Minimum Reservation

$20,000

Maximum Reservation

$3,000,000

Deal Stage

Bridge to Series A

Pre-money Valuation

$20,000,000

Open Date

02/01/2018

Closing Date

03/31/2018

Elevator Pitch

New Internet - The physical world like sensors embedded into smart objects, become plug & play with online services.

Company Overview

The New Web!

We at Nornir have done it! We have developed the Holy Grail within networking architecture that has convinced us and our customers that the new Internet is here. Forget about Blockchain, forget about Cloud.

The new network is called the Real Time Web (RTW) and will enable developers to develop any IT systems in the future autonomously. This network is designed for machines and artificial intelligence (AI) so they can build new solutions and applications for the next 50 years. The network is backward compatible with the current web infrastructure so no major investment is needed to scale this network globally. Today Nornir is making money on B2B deliverables with increasing revenue. We want to take this global and seek your help.

Challenge Of Today

Over 2 billion websites grant the World Wide Web (WWW) its position as the most popular network for sharing information; a virtue made possible by hyperlinks.

However, hyperlinks work in one direction only – simply meaning they are unfit to share data from sensors, actuators and active applications like AI services.

Today this obstacle has been detoured using web servers and middleware processes; leaving developers with no other choice than to program clients (mobiles, sensors, browsers etc.) with complex application interfaces (API) and databases to keep the connections alive.

Inventing Bidirectional Hyperlinks

To end this unnecessary overload and complex development cycle, Nornir has invented the technology enabling hyperlinks to become bidirectional. Using our tools, any developer can create services without middleware, servers, databases and API´s.

Our invention save over 90 % cost and time on hardware and software development and maintenance. The invention has the potential to become the future standard for IoT and AI infrastructure globally.

Along with the new bi-directional hyperlink invention a "new" decentralized Internet has emerged: We name it the Real Time Web (RTW). A network that is self scaling and backward compatible with the current web infrastructure and that is protecting sensible data across networks and domains. RTW does not replace the existing WWW, but is an alternative method for all developers to develop future event driven services within the IoT/AI space.

Uniqueness

The core technology is based on a distributed kernel named Synx BIOS. Synx is a new deep technology invention that enables event driven network and p2p communication. The technology replaces the need of any middleware and API development. The technology also enables semantic systems like future AI services to become autonomous. IT systems will be developed by machines without human intervention.

Read more background information in my blog post here: https://www.rtw.guru/2018/01/25/the-last-it-projec...

Tool for Developers

Our main target customers within the B2B market are developers. Nornir offer series of tools that simplifies development around the world. The tools helps developers to develop Artificial Intelligence (AI) and Internet of Things (IoT) services. With our tool anybody or any enterprises can start developing their own AI/IoT services without being a deep tech expert. Business developers will be able to create AI services with very low training. The RTW is a interlinking medium for service providers where they can connect with external services (data sources). One of the main RTW feature is unification of IoT around the world across different silos and vertical networks. Data can be shares horizontally and WEB becomes the global marketplace for any AI/IoT services. Not only limit to online resources like picture, text and videos, which is the case today.

Increasing Revenue

After researching and testing the bidirectional hyperlink technology for years, we finally launched our first product of our roadmap in October 2017. Since then our revenue has increased rapidly and Nornir has gained traction in several B2B markets internationally. The leads and signed agreements in our pipeline alone brings us in position to reach the break even milestone in mid 2018. The plan going forward is to close several more projects that we have in the pipeline to build a good case towards a series A round late 2018.

Investment Opportunity

To prepare Nornir for a larger series A round we are looking for capital to support our international projects. The investment will be done in Nornir.

Nornir is growing steady with increasing revenue within the B2B market. We using our own tools to deliver project implementations. Without any marketing we manage to double our revenue every month since our launch in october. Going forward our plan is to launch our tools for the public market (B2B2C2C). When make this launch we expect to go viral. The reason for this is that developers reduce their cost by over 90% and if they experience what we do when we developing projects, they will never go back to old developer tools.

Use of funds

The funds will be used to launch our services and tools in 2018. In addition we will establish a spin-off company named Synx that will be owned 100% by Nornir. Synx will launch the tools with different branding strategy. Synx will focus on the horizontal market. The horizontal market provide extreme market and growth opportunity for our organisation.

We believe in unicorn prizing in series A and changing the game of the ITC industry globally. Lets make history together!

About Nornir

Nornir is a deep tech company specialised in infrastructure and networks for AI and IoT. Nornir provides wireless coverage enabling advanced bidirectional data distribution solutions for the Internet of Things. Our mission is to empower partners and clients to participate in the evolution that is taking place on the web. The world is becoming interactive, and intelligent objects can be linked when needed. Nornir's Real Time Web brings unique technologies to make Internet of Everything a reality.

Our game-changing developer tools are carefully designed to provide the best environment for any hardware and software developer to invent, create, and deploy their physical web services. Interact in a more direct, easy, and safe way with clients, partners and consumers, while saving money and effort in the process.

Company Facts

  • Established 2013
  • Location Oslo and Steinkjer, Norway
  • Demo City Steinkjer
  • IoT conference Things4web.com
  • Number of employees: 10

Vision

Empower human emotions among physical things

Services

  • Hosting Physical Infrastructure for Smart Cities
  • R&D, development and prototyping services
  • Provide state-of-the-art IoT/IoE developer tools for hardware and software developers

Doing Business in Norway

Norway is a great and safe place to do international business. Read more about it here:

http://www.innovasjonnorge.no/en/start-page/invest...

Traction

  • Finished: Pilot Steinkjer municipality (Norway).

    August, 2017
  • Signed Health&Care platform. Development of Intelligent system for hospital using Real Time Web to connect people and devices in hospitals.

    June, 2017
  • Pilot project for intelligent coffee machine. Using Real Time Web to connect coffee machines to predictive maintenance services.

    October, 2017
  • Signed NDA with international airport. Upcoming project.

    December, 2017
  • Signed agreement for developing AI system for newspaper group.

    November, 2017
  • Signed deal with Norwegian company developing IoT safety system for kids.

    December, 2017

Pitch Deck

Press Mentions

Key Customers & Partners

Alloy | www.thealloy.com Norsk Regnesentral | www.nr.no NTX Research | www.ntx-research.com/en Steinkjer Municipality | www.steinkjer.kommun T:Lab | www.tlab.no WizziLab | www.wizzilab.com Dash7 Alliance | www.dash7-alliance.org

Previous Funding

  • $500,000 Equity
  • Raise Source: Friends
  • March 2013
  • $500,000 Equity
  • Raise Source: Investors
  • March 2015
  • $1,000,000 Equity
  • Raise Source: Investors
  • June 2016

Frequently Asked Questions

How is Real Time Web network compared to Blockchain?

Both Web and Blockchain are distributed systems. Real Time Web is an enhancement of the web linking network. Real Time Web is a heterogeneous network like the web. Nobody owns nor controls the network. The network grows by adding more domains (URLs) to itself. Blockchain is not a heterogeneous network so it is not comparable as a self growing network. The technology behind Real Time Web also enables event driven networks and data distribution. This can be applied to Blockchain networks to increase speed and enhanced the distribution of data. But since linking technology on web is a far better network for sharing information/data and the physical infrastructure is in place globally, we don't see any reason to spend time enhancing Blockchain at this point.

How will Real Time Web scale?

Like World Wide Web, Real Time Web (RTW) scales when a domain or service is created in the network and becomes addressable (linkable) with a unique url. Our strategy is to trigger and facilitate a self scaling mechanism among developers. Therefore, getting developers from all around the world to innovate, create and build new services is the key to scale. To facilitate this growth Nornir will launch a series of developer tools.

Why would developers be interested in Nornir's developer tools?

Nornir specializes in developing tools for developers enabling them to create services using bidirectional links and access the network kernel. These new tools help developers by removing the need for middleware and server side development when creating any advanced IT services. The new Linking technology follows the web standard and can potentially become the future standard for the web and AI development. The time spent on IT development will be reduced drastically for both hardware and software development. Instead of spending month on developing API and middleware, the integration and data that is shared between services can be done in minutes or be done autonomous by machines.

Who has used these tools so far and what has been their response?

The tools are not launched for the public market yet, but they are available for our B2B projects and partners. The tools are perceived as easy to use and alter the way developers think while developing new systems. Being introduced to our tools it feels rather outdated and laborious going back to old practice; like driving a car compared to horse and wagon. Once you started using our tools, you don't want to go back.

Are there any other developer tools like yours in the market?

No, our tools have been designed and based on our innovation SynxBIOS (distributed runtime kernel), which enables event driven networks and bidirectional linking. Web today and TCP/IP stack does not offer such features. We have made, and will continue to develop supporting tools for developers with these new features. The closest initiative to build similar solution is the Solid project (https://solid.mit.edu/).

Do you have any video demos of the product in action on the Internet?

Nornir will publish several training videos closer to launch of our developer community. Following we expect developers around the world to create many cool videos on rapid IoT prototyping of future services. Including global developer communities is one of Nornir's main sale strategies.

Is there an early release version we can download and test?

Yes on request, but it's only accessible to our partners officially. Today we make money on B2B deliverables. Once we manage to close funds we will launch our tools for the public market and go global.

Do you plan to IPO, sell to M&A, or remain private forever?

Going forward and when we gain growth we plan to spin out our tools in separate companies in the horizontal market. Additionally, we plan to spin out Nornir IoT market to several vertical industries like Oil&Gas, Health&Care, Logistics, Airport and more. This provides multiple exit opportunities for investors both in horizontal and vertical markets. Nornir will become mother company for our spin off´s

Apart from crowdfunders, who else is investing?

Existing shareholders and angel investors will join this round. We expect 200K-500K to be invested by local investors.

Can anyone easily copy Nornir's developer tools and make their own network?

No. It's very tricky to develop our technology since you have to have full stack overview of all network layers to understand how to implement the frontend layer. However, once our technology is public available we expect several research labs to try reverse engineer our tech, risking they will launch competitive networks. We're predicting at least 1 year head start from launch day. One of the key benefits that has been solve by our invention is that the network is heterogeneous. This is the essence of a self scaling network that is not controlled by one single entity. The web is a good example of this where one company cannot control the whole network. This is also something that has not been solved by Blockchain since you have to be part of the same network entity to be able to secure the transaction.

What will Nornir be like in 5 years?

Web is the biggest market in the world and RTW will be in symbiotic relationship and big part of it. Nornir will be the leading tech company in the world. We just acquired Google. :-)

What are the biggest goals for you before series A?

We need to close this round to be able to prepare a larger series A. The company will focus on doing reference projects and make money to build credibility. We are lucky to have already started these projects with large high end clients.

How many months can you last with this round of funding?

This round will secure the B2B initiatives in Nornir. Establishment of Synx company. Prepare series A which will fund public launches. Nornir will break even in June.

Are there any room to join the team?

We are always looking for new talented and experienced colleagues to join the team. We are also looking for potential partners that want to conquer the world with us. The team of Nornir today consists of several veteran entrepreneurs who have built and sold businesses before. Nornir’s board of directors consist of Gaetan Japy (NetValue) and Arne Peder Blix (Accurate Equity, MeaWallet). The founders Paal Kristian Levang and Henrik Silverkant are experts in distributed systems, large transaction engines, cybersecurity, and military grade security systems. And the chief commercial officer, Halvor Kalve, is a serial entrepreneur and co-founder of an international software development company (Correlate).

Documents

Confidential

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