Last week Paradigm Interactions Inc. created a new subsidiary UbiNET Inc. set up as a stock corporation to support several funding rounds to deliver it’s global technology, data and service platform for IoT3 Smart Living. This change in strategy is due to an over subscription for Series A investment which has created a focus on investors outcomes.
The formation of UbiNET Inc. will have no immediate impact on staffing and facilities but it is intended to focus R&D on the open network ecosystem protocol already filed at USPO.
The CEO of Paradigm Interactions Karl Smith described this change as “it’s fundamental that we have the business structures in place to enable investors to have clarity around their participation” further “having worked in global M&A and with VC funded start-up’s, I recognise that a good idea needs to be supported by and understanding of how to facilitate investment, engagement and exit”.
Further details will be published on the UbiNET website.