The Prague software house eMan joins the startup Hardwario, which specializes in the development of electronic devices for the industrial internet of things (IoT). By joining forces, the companies aim to support the use of IoT technologies in the energy and manufacturing sectors, in which eMan has many years of experience.
eMan invests in the technology startup Hardwario. Revenue estimates for 2021 are increased to CZK 224 million [PRESS RELEASE]
With a capital investment in the order of millions of Czech crowns, eMan promises to expand its portfolio of products and services which, until now, has been focused primarily on software solutions and applications.
“Our strategic goal was to expand eMan’s portfolio with scalable products that address customers’ needs across the board. We therefore needed to add hardware to our applications, and thus have more control over the final solution. After previous cooperation experience between the two teams, we can safely say that together we are able to create extraordinary products,” explains Jiří Horyna, Chairman of the Board of Directors at eMan.
eMan is diversifying its activities across the entire technological spectrum. They established their own investment fund eMan Innovations and the gaming studio Legend Has It, which is working on the development of one of the first Czech online RPG cryptocurrency games, Alteration.
“We have been following eMan’s successes with great pleasure. I believe that, with joint products, we can succeed in many industrial sectors. Nowadays we are focusing mainly on the digitalization of the energy sector, and we will create meaningful solutions not only for big players in the field,” commented Alan Fabik, CEO of Hardwario.
Czech IT in the world
By combining sales and marketing activities, both companies plan to strengthen their positions on the Czech market and beyond. With the ambition to grow past the borders of the Czech Republic, the two companies aim to gain a foothold in the United States and Great Britain, where they already have offices. Together, they intend to expand to other countries in Europe and Latin America, as well as Australia.
New projects and higher revenues
With this investment, eMan expects to achieve even more impressive financial results. The adjusted economic forecast for 2021 shows estimated revenues of CZK 14 million higher than the originally planned target of CZK 224 million. The EBITDA is now estimated at CZK 22.8 million, instead of CZK 20 million. The audited financial results will be available during the first half of this year.