Hoyo Tek sophisticated software based on machine learning and artificial intelligence

Share with us some information about your company, when it was established, primary activity, current customers or similar, or if it is newly established, what is the structure and by whom was it founded?

Hoyo Tech is a company founded in August 2018, and we mainly work on creating a complete software ecosystem for any IoT solution, acting as a single point of contact service provider.

Can you tell us more about the project for which you received funding from FITD?

Hoyo.ai is a sophisticated software based on machine learning (ML) and artificial intelligence (AI), designed to serve our IoT products, predictive data analysis. Within 12 months, the module should be finalized and brought to a stage that will guarantee success. For the solution we are also collaborating with a local company that specializes in AI solutions, Magix.AI, to accelerate product development. The final product will be developed from data that will be generated by existing users of one of the products and such are companies that have their own fleet of vehicles and vending machines.

How long and to what extent is it developing? When at the earliest can we expect an MVP from a product available to the public?

The product is initially developed and can be tested as an MVP. For a period of one year, a deeper development and implementation of more sophisticated algorithms from Machine Learning and Data Science is planned. The demo is planned to be available at https://hoyo.tech/.

How much will the additional funding from FITD help you? In which parts of the project will the finances of the Fund help you?

FITD support is important for a small company like ours. These funds will be used in hiring additional appropriate persons who will lead the implementation of the project and who will be dedicated only to the needs of this project in order to be able to function independently in the future.

Is the product / service you plan to develop a domestic or international market? What is your primary target group?

Our main target group for the project are global providers of IoT platforms, local and global companies that have their own fleet of vehicles, vending machines and the like. Our ultimate goal is to establish a presence in international markets keeping in mind that the whole solution is web based.