IRM.Life operates an asset-light licensing model. The company designs, licenses and supports the MRT-E system, while device manufacturers integrate the receiver, complete final approval and manufacture the end device.

The €3.0M Series Seed funds a 24-month validation and commercialisation plan covering the integration kit, pilot evidence, pre-compliance work and license readiness.

Under management’s current financial plan, no revenue is forecast during the first two years. Commercial revenue is expected to start in Year 3, following successful pilot acceptance and license execution.

IRM.Life plans to generate revenue primarily through enterprise deployment licenses granted to OEM partners.

The current financial model assumes a reference value of approximately €2.0M per license-equivalent unit, generally based on a 3-to-5-year term.

Years 1–2: €0 revenue
Year 3: 2 license-equivalent units / €4.0M revenue
Year 4: 4 units / €8.0M revenue
Year 5: 8 units / €16.0M revenue
Year 6: 16 units / €32.0M revenue
Year 7: 32 units / €64.0M revenue

Final contracts and revenues remain dependent on OEM acceptance, deployment scope and agreed commercial terms.

IRM.Life’s financial model assumes significant operating leverage as the licensing model scales.

Year 3 revenue of €4.0M, compared with approximately €2.5M in operating expenses, is forecast to generate approximately €1.5M EBITDA. Operating break-even is therefore expected in Year 3, while cumulative cash break-even is expected in Year 4.

The first two years generate a maximum cumulative cash requirement of approximately €3.0M, corresponding to the Seed financing requirement.

Management forecasts revenue to scale rapidly from Year 3 onwards while operating costs increase at a significantly slower rate.

From Year 3 onwards, revenue is forecast to double annually, while annual operating-cost growth is expected to remain around 11–14%. If achieved, this would result in increasing operating leverage and profitability as the licensing model scales.

IRM.Life’s financial projections are supported by an asset-light operating structure:

This structure is intended to allow revenue to scale significantly faster than the company’s operating cost base.

The round combines paid and committed investment, a grant application, crowdfunding and support from biaNergy’s own resources.

The EU-supported grant is currently in the application phase and has not yet been awarded. The exact split between crowdfunding and other resources remains to be determined and the financing mix may change until completion of the round. The round may also close in stages.

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