Augmate

About Augmate

Founded in 2013 by a team including Pete Wassell, who brought over 20 years of IT industry experience from IBM, Augmate originated as a wearable technology firm focused on augmented reality applications for the enterprise market. The company has since pivoted to address the broader Internet of Things (IoT) landscape, positioning itself as a device management platform provider. Based in New York City, Augmate has secured $8.9 million in funding over five rounds from investors such as Counterpointe Ventures, Next47, and the UPS Strategic Enterprise Fund, signaling confidence in its strategic direction.

Augmate's core offering is the Augmate Connect platform, a sophisticated IoT device management solution. This platform empowers enterprises to securely manage fleets of internet-connected devices, including smart glasses and other IoT hardware, from a centralized portal. A key technical differentiator is its use of distributed ledger technology and blockchain protocols, making it blockchain-agnostic while initially integrating IOTA's Tangle for fee-less value transfer between devices. This architecture is designed to provide a secure and scalable ecosystem for device connectivity and management in a market projected to encompass billions of devices.

The business model is primarily subscription-based, charging clients a recurring monthly fee per device managed through the platform, formerly known as the Wearable Environment Manager (WEM). The platform provides features such as remote device locking, data visualization, firmware updates, and predictive maintenance powered by machine learning. Augmate serves a diverse clientele of large enterprises across various sectors, including logistics, manufacturing, and retail, with notable clients like Veolia, UPS, and Toyota. The company's ecosystem also includes the Machine Access Token Exchange (MATE), a cryptographic token intended to facilitate transactions and access to services within the Augmate platform.