Founded in December 2019 and headquartered in Mount Waverley, Victoria, X2M Connect Limited has developed and commercialised a patented IoT platform that facilitates the connection of utility devices to the internet. This technology enables data exchange and remote control, delivering productivity improvements, cost savings, and improved public safety for enterprise and government clients.
\The company's focus is on servicing the utility sector in the Asia-Pacific region, with significant operations in South Korea and China. As of December 2022, X2M had over 361,000 devices connected to its platform, reflecting a 100% year-on-year increase. The company generates revenue through hardware sales and monthly subscription fees under Software as a Service (SaaS) arrangements.