There’s an element of excitement around startup culture that appeals to many: the closely-knit teams, a unified vision to create an incredible product and, of course, the late nights, pizza, pop, and foosball. It is these moments that ultimately set the stage for a company’s culture; it is what set the foundation for us at Index Exchange. When we launched IX Labs, it was with the idea of startup culture and building from the ground up that we hoped to encourage and foster with up and coming companies.
Our early days at Index served us with a great advantage when approaching new startups.
As an engineering-first company, we had unique insights into the issues early stage tech companies face. We were once a startup. We understood the hard work and sacrifices made, we understood the issues they’d be facing, and most importantly, we understood that engineering was more than just a role fulfilled. With nearly 20 years of experience, we at IX Labs were eager to meet with startups and share our journey with them, ultimately helping to grow them into a global brand.
Today, I am excited to announce our investment in Mero Technologies. Mero is an IoT startup that combines hardware and software to provide a technology foundation that brings dynamic cleaning to commercial buildings. Mero’s peel-and-stick sensors, which monitor supply and traffic levels, provide real-time alerts to property managers who are able to manage custodial services much more efficiently, saving time and reducing waste.
What made Mero stick out for us? They align perfectly with our vision of using technology to solve everyday problems in underserved markets. Mero is focused on commercial cleaning, an area very few people think about and an area largely untouched by technology. Mero’s founders, Nathan Mah and Cole MacDonald, recognized an opportunity to introduce innovative technology into a traditionally manual process. In a world with smart watches, smart speakers, and smart cars, technology has done little for the commercial cleaning industry. And that’s where Mero comes in. Their sensors detect the supply levels of materials like soap and toilet paper, restroom traffic, and cleaning frequency to reduce waste and optimize cleaning processes.
We are bullish on Mero for many reasons, but there are two I’d like to highlight:
- The COVID-19 pandemic has undoubtedly created a renewed focus on office hygiene, and the standards for cleaning and sanitizing have never been higher. Mero’s platform provides transparency on how buildings are being cleaned, inspiring confidence as we return to the office. The company has added support for third-party sensors such as Poppy, Xandar Kardian, and Cleanslate UV, all of which are designed to minimize the spread of COVID-19.
- There is a growing concern for our planet, and sustainability has become increasingly important for businesses to address. This issue is at Mero’s core, and their products are designed to reduce waste. As part of their sustainability efforts, Mero is helping clients work towards achieving BOMA BEST Smart Building certification and LEED certification.
Mero is already showing tremendous potential as a company and exhibiting positive impact around the world; they are currently in 100+ buildings across Canada, USA, and Europe, with over 10,000 sensors deployed. As part of our partnership, I have joined Mero’s Board of Directors and will work closely to help the team scale and grow their operations. I see a lot of early Index in Mero: a company using technology to disrupt an inefficient system, while driving growth at the same time, along with mission driven co-founders, Nathan and Cole, showing incredible passion and dedication. These early signs signal a promising future ahead.
Our investment in Mero Technologies represents the first of many investments for IX Labs. This partnership demonstrates how far we’ve come and how much further we intend to go. Mero is on a mission to foster beautiful, healthy, and sustainable urban environments for all, and IX Labs is very excited to join them on this journey.
“If we pull this off, we change the game. We change the game for good.” Billy Beane, Moneyball (2011)