- Yavor Mihailov (CEO): focused on back-end development, as well as deep neural network segmentation algorithms
- Mihail Georgiev (CTO): developing the front-end, also working on image consistency checker algorithms
The co-founders have worked in close collaboration for more than 7 years, and possess significant expertise in the areas of software development and robotic technology, having started from a high school robotics club.
In today’s fast-paced business environment, there is growing demand for real-time, data-driven tools for decision-making – with the current approach of taking action on the basis of assumptions (as opposed to real data) exposing companies to significant room for error and costly mistakes.
MYX tackles this issue by putting the necessary data at the fingertips of its clients, allowing them to make quick, accurate and efficient decisions.
Products & Services
During Phase 1, the product is based on clients' needs. Examples include:
- Creation of a 3D model of a city, allowing for segmentation of different objects within it (e.g. buildings, roads, trees, etc.)
- Inspection and AI-based analysis of telecom cell towers/power line infrastructure
Following the launch of Phase 2, MYX’s main product will become the platform, where users will be able to purchase discrete pieces of information/analytics.
MYX’s product will target a wide range of sectors where accurate 3D data and analytics can generate added value, with a particular focus on industries involving the management of complex asset networks such as Infrastructure, Telecom, Government and Agriculture.
Within Phase 1 of the project, we are working on specific projects with clients on a B2B basis in order to establish traction, while leveraging existing data to develop an alpha/beta version of the platform.
As we transition to Phase 2, we will begin rolling out the platform while on-boarding existing clients to it. Our end-game is to have the platform as our sole product, a one-stop-shop for clients to purchase the data and analytics they need.
As part of our initial efforts, we will focus on the following sectors/industries as we believe they provide the largest opportunity for our product:
Once sufficient traction is reached within the above-mentioned sectors, operations can be expanded to adjacent industries where opportunities exist.
Sales & Marketing Strategy
During Phase 1 of the project, customer acquisition will be based on direct contact. We are already working with Sofia Municipality and are in talks with a number of other large global/regional companies, including Nokia and A1.
As we move to Phase 2, we will aim to increasingly transition to a platform business model, where we do not initiate a direct contact with each client, but rather employ a broader marketing strategy for the product.
We have not yet identified any direct competitors.
Currently available alternatives vary depending on the industry; some specific examples include:
- Local authority management of public assets (e.g. buildings, roads, trees): based on manual inspection at a significant cost and time investment
- Telecom cell tower/power line inspection: carried out manually by employees who often have to work in hard-to-reach areas with dangerous terrain
MYX’s competitive advantages include:
- First-mover advantage, with no current competitor in the market
- Unique platform business with data provider incentives, ensuring consistent inflow of raw data
- Taking advantage of latest innovations in AI to develop powerful analytical tools
- Leveraging parallelized processing for swift data processing
- Ability for 3rd party add-ons/developments
- Infinitely scalable visualization