Generally speaking, apps are developed independently for different operating systems per the requirements and standards of each operating system. To be used on a smartphone, at the very least an app must satisfy the requirements of Android and iOS operating systems to work on those platforms. YajanTech is a startup that provides augmented reality/virtual reality (AR/VR) technology and integration services. Using a software development kit (SDK), YajanTech helps customers develop apps that can be seamlessly transplanted to other operating system software.
Japan market accounts for 80% of YajanTech's revenue
Using the Taiwan market as an example, YajanTech CEO James Tsai explained that to develop an app similar to Pokemon on a single software platform would take an average development cost of around NT$3 million (US$108,530). Therefore, developing an app on both Android and iOS platforms would require at least NT$6 million. YajanTech can help customers reduce development and maintenance costs, which is particularly attractive to countries with high manpower costs. That is why Japan accounts for 80% of YajanTech's business, as well as Taiwan, South Korea and Singapore.
YajanTech CEO James Tsai
In terms of YajanTech's cross-platform SDK solution, in addition to Android and iOS, it can also be used for end applications such as PCs, kiosks and AR glasses. However, every major operating system and software undergoes an annual update. YajanTech has a dedicated team that handles SDK development and updates, ensuring that the SDK is operating properly after the platform is updated.
Tsai pointed out YajanTech is an AR/VR technology and integrated software provider, whose core product is this SDK, which includes 22 critical functions such as hand, face and eye tracking, as well as other recognition technology. With this SDK, YajanTech can help customers meet relevant AR/VR application requirements and development.
At the same time, YajanTech can use the functions from its own SDK to develop all of the necessary systems and services customers need, which customers can then use commercially. Since YajanTech operates based on a B2B business model, its main application fields include retail, factories and smart exhibitions. Currently, 99% of the company's total revenue comes from retail and factory applications.
Starbucks uses emotion recognition for precision marketing
The majority of YajanTech's customers in Taiwan are retailers. In terms of smart retail, Universal Vision Biotechnology, one of YajanTech's customers, launched a virtual try-on service for eyeglasses using YajanTech's face tracking and detection technology.
YajanTech also used its SDK with emotion recognition technology to help Starbucks develop an AR Smile app. Customers simply scan the QR code provided by Starbucks and smile at their smartphone to unlock a promo. Through this process, Starbucks can obtain important consumer data, such as the time promos are used and the age of its customers, providing them with clear records to reference.
Smart factories are mainly using AR for education and training, remote collaboration and worker records. YajanTech's customers in this sector include fastener and gear factories in Taiwan, as well as airports and power plants in Japan.
Tsai said if a smart factory requires an area with a high degree of customization, YajanTech will focus on equipment malfunctions and maintenance, troubleshooting, and how far a knob can be turned in that production area. These processes will then be taught to workers on-site. YajanTech goes a step further and creates an SOP that will also allow new employees to learn quickly via AR glasses.
Expanding from Asia to Europe and the US markets
The purpose of YajanTech participating in CES 2022 is to expand into and gain customers in US and European markets; YajanTech is already in discussion with a startup in the US and hopes to use their familiarity with the local market to expand in the US. In terms of customer groups, YajanTech is focusing on systems integrators and application service companies.
Regarding the South Korean market, YajanTech plans to establish a branch office in the second or third quarter of 2022. The branch office will allow YajanTech to provide better technical support to local customers.
YajanTech plans to begin fundraising for an estimated NT$350 million at the end of second-quarter 2022. The company hopes that 60% of the funds will come from Japan. Once YajanTech gains a firm foothold in the Japanese market, it will be able to expand in the European and US markets.
The YajanTech team