O

OMIS CONNEX

Industry 4.0 Value-Chain Management Platform

Analysis Date

February 10, 2026

Stage

Seed

Investment Recommendation: PASS (Conditional Re-Engagement)

Overall Score: 2.55/5.00 - Below typical investment threshold of 3.0+

2.55

1 Company Overview

Current Adopters

12

Status unclear (paying vs pilot)

Grant Funding

RM 4.6M

~$1M USD secured

Team Size

2

Founders only disclosed

Breakeven Target

150-200

Customers required

Strengths

  • •Low entry barrier for SMEs
  • •High margin potential with SaaS model
  • •Network effect with connected supply chain
  • •IDS-RAM & RAMI 4.0 standards compliance

Weaknesses

  • •No disclosed MRR, churn, or unit economics
  • •Projected losses through 2027
  • •Only 2 team members disclosed
  • •No sales/GTM leadership visible

2 Category Analysis Scores

3

Problem

3

Solution

2

Traction

3

UVP

3

Business Model

2

Market

2

Team

2

Use of Funds

3

Clarity

4-5: Strong
3: Average
1-2: Weak

3 Market & Competitive Research

Target Market Size

🇲🇾

Malaysia

Manufacturing: 57K

1.08M

Total SMEs

🇪🇺

EU

Manufacturing: 2.6M

26.1M

Total SMEs

🌏

ASEAN

Manufacturing: 7M

71M+

Total SMEs

🌍

Africa

Manufacturing: 4.4M

44M+

Total SMEs

Competitive Pricing ($/user/month)

Odoo
$25
High
SAP B1
$100
Medium
Oracle NetSuite
$125
Medium
MS Dynamics
$110
Medium

Odoo at $25/user poses highest threat with similar SME positioning

Claim vs Reality Verification

Supported

86-91% SMEs at Level 1-2 (Industry4WRD data)

Malaysia 1.08M MSMEs (DOSM confirmed)

Cannot Verify

IDS-RAM/RAMI 4.0 compliance (need tech audit)

12 adopters (no public references)

Policy Risk

Industry4WRD program discontinued Jan 2024

Removes key government demand driver

4 Scenario Simulation

5-Year ARR Projection ($K USD)

2025
2026
2027
2028
2029
2030
Base ($875K)
Upside ($2.75M)
Deck Target ($2.4M)

2030 Scenario Outcomes

Downside 30% prob

$190K

Base 50% prob

$875K

Upside 10% prob

$2.75M

Deck Target 10% prob

$2.40M

Deck projection probability: 5-15%

Key Sensitivity Levers

#1 Monthly Churn Rate High

Each 1% increase reduces 2030 ARR by 15-20%

#2 ARPU Expansion High

Each $500 increase adds $250K to 2030 ARR

#3 Customer Acquisition Medium

Each 10 customers/year adds ~$35K ARR

#4 Gross Margin Medium

Each 10% adds $50-100K to cash position

#5 Funding Timing Medium

6-month delay reduces outcome by 20-30%

Failure Modes & Early Indicators

Churn Spiral High Risk

Trigger: First 90-day churn >25%

Sales Velocity Collapse High Risk

Trigger: Pipeline conversion <10%

Team Scaling Failure Medium Risk

Trigger: Customer:employee >25:1

Market Timing Mismatch Medium Risk

Trigger: Penetration <0.5% after 3yr

Funding Gap Medium Risk

Trigger: Grant 80% depleted w/o term sheet

5 VC Investment Memo Summary

Deal Snapshot

Company OMIS CONNEX Sdn Bhd
Product No-code/low-code Industry 4.0 SaaS
Ask Not disclosed
Valuation Not disclosed
Current Funding RM4.6M grant (~$1M USD)
Traction 12 adopters (status unclear)

Top Investment Risks

1

Traction Gap

12 "adopters" with no revenue, MRR, or churn data disclosed

2

Projection Disconnect

5-15% probability of achieving deck projections

3

Team Composition

No sales/GTM leadership for consultative enterprise sales

4

Policy Risk

Industry4WRD discontinued Jan 2024 - removes demand driver

Re-Engagement Criteria

Traction Proof

5+ paying customers with 6+ months retention and disclosed MRR

Sales Leadership

Hire with relevant industrial software experience

ARPU Path

Clear expansion strategy with evidence of customer willingness to pay