Company Interview / X2M plugs into South Korea

Key points:

X2M Connect (ASX: X2M) secures a $3M deal for IoT safety devices in Seoul, Korea.Plans to expand tech across South Korea and Australia.Focuses on AI data aggregation and utility digitalisation.

Mohan Jesudason from X2M reveals a major $3M contract with Seoul, Korea, to deliver 100,000 IoT-connected personal safety devices for the Smart City initiative. These gadgets alert emergency services and support community safety, targeting vulnerable populations.

Mohan shares X2M's strategic direction, aiming to extend this technology across South Korea and potentially into Australia. With 46 cities onboard, the South Korean market is pivotal. Beyond safety, X2M connects utilities like water and gas to the internet, boosting productivity.

Despite past share price challenges, Mohan sees growth in the AI data aggregation market. With recent funding strengthening the balance sheet, X2M positions itself for a positive 2026, focusing on revenue growth, profitability, and cash flow positivity.