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MUNIC.io, the specialist in artificial intelligence and embedded technologies for the automotive and fleet sectors, today announced that despite the worldwide shortage of semiconductors, the French telematics box supplier achieved a top-flight commercial performance in 2021. Munic’s balance sheet shows a 156% growth in turnover, to €19.26 million. Partnerships including ALD Automotive, AGC Automotive and SELECT AG were key to growth in 2021.
While the semiconductor crisis continues to affect the telematics manufacturers as a result of the COVID pandemic, Munic.io has successfully navigated the crisis and continues to deliver its telematics solutions targeting the European and North American markets.
The company, which markets smart telematics devices with a unique ability to collect and decode data from vehicle sensors, in addition to delivering their artificial intelligence computing platform called Munic.io, has released in 2021 its new Edge Computing Gen 8 devices, offering higher processing performance and data decoding capability at a lower cost vs previous generation.
The exceptional growth of the business originated in the first half of 2021, with revenue of €5.214 million. Munic.io then achieved growth of 105% compared to 2020 and 66.8% compared to 2019. A trend, which was, accentuated in the second half when the turnover of €14.05 million was 182% above that of the previous year to practically align with that of 2019 (-0.2%).
Commenting on the sustained growth, Aaron Solomon, CEO, Munic.io comments: ‘Munic.io has been able to demonstrate its agility in terms of supply as well as its flexibility to adapt to market conditions to ensure the delivery of the majority of orders to its customers, in particular by rapidly developing changes to its products using alternative sources of components to overcome the shortage of semiconductors and by concluding solid and long-term partnerships with the main component manufacturers and distributors.”
Munic.io operates worldwide with key markets in Europe and in North America. In the longer term, the listed company maintains the ambition to reach 100 million euros in turnover.