News
11 December 2024
The rapid growth of the multibillion-dollar global edge computing industry has created new opportunities for technology companies, paving the way for First Nations business Kalinda IT to secure new revenue streams.
The rapid growth of the multibillion-dollar global edge computing industry has created new opportunities for technology companies, paving the way for First Nations business Kalinda IT to secure new revenue streams.
The company, which provides full-scale enterprise technology services, has enjoyed strong growth in revenues and EBITDA over the past three years, including matching 2020’s annual revenues already in 2021.
But the company is now eyeing off the rapidly growing edge computing sector, which is tipped to grow to $250.6 billion by 2024, to fuel the next phase of the company’s growth.
Edge computing is an extension of the cloud computing that has come to dominate the way most businesses and consumers use technology.
Cloud computing allows users to access centralised services (such as emails, file sharing services, and even streaming services like Netflix).
Edge computing represents a shift to bring those cloud services geographically closer to users, reducing the amount of time users wait for responses after clicking a link or asking their virtual assistant a question, and improving the security of their personal data.
“The key thing about [edge computing’s growth] is the three big public cloud offerings, from AWS to Google Cloud and Microsoft Azure, have all started to provide edge computing capabilities,” said Josh Griggs, who manages Kalinda IT’s revenue strategy and corporate development.
“What you’re seeing is a time in history where the goals and requirements of the big multinational tech companies are aligning to some of the aspirations of Kalinda IT and First Nations people around driving employment opportunities in-country, out in regional areas, and delivering services out there.”
The edge computing space is growing rapidly, with 2021 expected to be an inflection point for the burgeoning sector, Mr Griggs said, adding that Kalinda is well-placed to benefit from this shift as a First Nations service provider.
Australia’s reconciliation plan pays dividends for First Nations businesses
The increasing focus on businesses’ environmental, social and governance (ESG) attributes in recent years has cast a new light on the importance of working with Indigenous Australian entrepreneurs and businesses.
Governments at state and federal levels have mandates to procure predetermined amounts of goods and services from First Nations suppliers, with some government agencies permitted to transact with Indigenous businesses without going to tender.
Many major businesses have implemented similar plans through their Reconciliation Action Plans.
Kalinda IT Services CEO Michael Dickerson said this paves the way for further growth for the company, which was founded with a view to bridge the gap between Indigenous Australians and digital technology.
Reach Markets this week opened an opportunity that gives exposure to a Convertible Note with Kalinda IT. It has a 12% coupon per annum and the option to redeem or convert at maturity after 24 months. Join Founder and CEO Michael Dickerson for a live investor briefing on Monday at 12pm where he will go through the details. Book here.
Reach Markets are the advisors assisting with the management of this offer and may receive fees depending on whether an offer is taken up by investors.
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