Nodle.io: Turning Smartphones into Power Outlets
The connected future is becoming more innovative and more eco-friendly!
The world we live in has hundreds of different smart devices, such as e-Scooters, intelligent lights, speakers, etc. This is commonly referred to as the Internet of Things (IoT), and these devices need to communicate somehow.
This is where Nodle comes into play: developed by Garrett Kinsman and Micha Benoliel, Nodle is a wireless network that promises to connect the IoT conveniently and straightforwardly.
Nodle is entirely software-based and runs on the user’s smartphone. The app uses Bluetooth Low Energy (BLE) to allow seamless communication between IoT items without affecting the smartphone’s performance. The best part is that the user gets Nodle Cash, so it’s a win-win situation for everyone.
Continue reading this story about how these two geniuses came up with this practical new approach to connecting IoT devices!
The Sprouting of Geniuses
Garrett Kinsman grew up as a boy really into art. He was talented and would spend most of his free time drawing whatever caught his interest. Luckily for him, his parents were supportive of his hobby and encouraged him to follow his passion, wherever that may lead him.
Even though he wasn’t a star student, Garrett did well enough to complete his high school education without any setbacks. However, he was engaged in many extracurricular activities that helped him express and develop his artistic abilities.
Most notably, Garrett was in charge of the school newspaper and acted as the leading designer. Doing this, Garrett realized that he immensely enjoyed the work and decided to make it his future career.
Micha Benoliel was raised in London, the UK. He grew up as a social and outgoing boy, always getting along with his friends. In London, he got his primary education and performed really well at school, passing most of his exams with flying colors.
At the age of 14, his family moved to Nice, France. There, young Micha attended Lycée Masséna, one of the best public schools in France. Though the move came as a shock to him, Micha adjusted pretty quickly to his new environment, and he made the most out of the situation.
Paving the Path to Success
Micha Benoliel started his professional journey with a bang - he knew he wanted to start a business, so he did. In December 1999, Micha founded Digitrad Communications and remained CEO for 12 years. It was difficult in the beginning, but it proved to be the key to his future success.
After over a decade of leading Digitrad, Micha decided that he wanted to try something new. In 2011, he got together with 3 other entrepreneurs and used his knowledge to set up Open Garden, a mobile virtual network operator. He remained Chairman of this company until late 2016.
On the other hand, Garrett began his career by undergoing a 4-month graphic designer internship at WXXI Public Broadcasting Council. Being a fast learner, he acquired a large part of the skills he needed in this industry in such a short amount of time. Being a restless, knowledge-hungry young man, Garrett also learned what it takes to work and be a part of a large organization.
After that internship, Garrett got a proper job as a photographer and graphic designer. He worked at many different companies, changing things up every couple of years. By doing this, Garrett never got bored with his job and expanded the business network of people he knew.
One Faithful Day…
After a few years, Garrett became a wholesome, experienced professional. With that in mind, it shouldn’t come as a surprise that he became the Lead Industrial and Graphic Designer at a brand new company called Open Garden.
As faith would have it, Open Garden was the place Micha met Garrett, and the two hit it off immediately. They were so compatible that they knew they had to keep working together.
Blueprinting the Dream
Garrett and Micha saw the rise in popularity of IoT items in the mid-2010s and the problem with communication. Since these devices mostly use BLE, Garrett and Micha realized they could also use smartphones to act as messengers, sending and receiving data among IoT items.
With that realization and the experience of working together, the duo decided to start a business together that would tackle this exact issue. It was the summer of 2017, that Garrett and Micha founded Nodle.io in San Francisco.
Nodle is a smartphone app that runs in the background and securely sends and receives signals between Internet of Things devices. It doesn’t impact the smartphone performance at all, as the app is optimized to use only a few percent of the battery per 24 hours.
Changes Come Knocking
Nodle can run in one of two modes: Eco and Expert. In Eco mode, the app runs only when it’s open and is more resource-friendly. On the other hand, Expert mode runs in the background and contributes more to the network.
The only problem Nodle had was incentivizing people to use the app. As there wasn’t a lot of inherent benefit to the user running the app, not a lot of people adopted it. And around that time the team saw the rise in popularity of cryptocurrencies, and they realized that it was a perfect match.
In early 2020, Nodle acquired Brickchain and created its cryptocurrency, aptly called Nodle Cash. Users can earn Nodle Cash every time they use the app, and they can send and receive the currency between themselves. The Expert mode yields more Nodle Cash, so users are encouraged to run that mode.
Fortifying the Finances
Nodle has had a lot of luck.
It had its first funding round on September 13, 2018. Since then, it participated in 4 other rounds, with the latest happening on December 20, 2021. In total, the company has managed to raise around $5M from these 5 funding rounds.
Thanks to the forward-thinking of Garrett and Micha, Nodle managed to attract as many as 10 investors backing the company, with the most recent ones being MaxxCapital and COIN GROUP, and Blockchain Ventures as the lead investor.
Because of its success, Nodle managed to acquire Brickchain on March 2, 2020. This proved crucial as it was integrated into Nodle cash, a key component of the app and the company in general.
After the company launched, the world of cryptocurrency was already dominated by a few giants in the industry. However, Nodle did well in fending off the competition coming from companies like Hiber, Ingenu, and Net Objex, among a few more.
What Does the Future Hold For Nodle?
Nodle has certainly grown a lot from a humble startup to a groundbreaking fintech company in a few short years. Today, the company counts about 50 employees in its headquarters in the San Francisco Bay Area, California, USA.
The company is currently optimizing its software to run more efficiently on as many different devices as possible. By doing this, it hopes to expand its network and make it encompass more areas.
As for what’s in the cards for Garrett and Micha’s company, the management states that Nodle is working on ways for customers to start using its cryptocurrency, the NODL coin.
Nodle’s offering of an interconnected IoT network where people get to earn money by just running an app is certainly interesting. We cannot wait to see what revolutionary new technologies become available from this pioneer.