WDSP
Industry:
Hardware

DESCRIPTION

World Scan Project is a small, early-stage Japanese industrial automation and hardware company that operates through its wholly owned subsidiary, World Scan Project Corporation, based in Tokyo. The company sells two primary products: SkyFight-X drones and ZEXABOX cryptocurrency mining rigs. SkyFight-X drones are small, lightweight (~40g) drones designed for competitive racing, sold exclusively to Drone Net, a Japanese company that operates drone racing tracks across Japan. This makes Drone Net World Scan Project's sole drone customer, creating significant customer concentration risk. ZEXABOX is a line of GPU-based mining rigs that World Scan Project sources from Web3 Computing Corp. and resells to customers in Japan, with sales and marketing outsourced to third-party agencies. The company also offers Flylly, a consumer mini drone with a 4K camera, and META DIVER, a free VR smartphone app for viewing heritage sites in 3D, though neither appears to be a meaningful revenue contributor. World Scan Project has 14 full-time employees and has funded operations primarily through equity raises. The company's growth plans include direct-to-consumer online sales in Japan, expanding ZEXABOX distribution, and entering the U.S. market, though no material progress on U.S. expansion has been made. Additional products in development include JIKAI, a magnetic exploration system, and FREAP, a hovercraft bike that has completed flight testing but is not yet available for sale.

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