Company: OTSA
Filing Date: 2025-01-28
Form Type: DRS
Source: 0001213900-25-007614
Chunk: 15

Company: OTSAW Ltd
Filing Date: 2025-01-28
Form: DRS
Chunk 15
---
 a low cost. RaaS is a subscription -basedservice model, that will give our customers the convenience of included on -goingmaintenance, support, and software upgrades in addition to the use of our products. We envision that the RaaS model would be attractive to the end -usersand accelerates market adoption of our products as it lowers the upfront costs of deployment, shifts capital expenditures to operating expenditures, and provides the operational and technical support with the ability to upgrade any leased product as new technologies emerge. Revenue from our direct sales model accounted for approximately 18.0% and 17.7% of our total revenues for the years ended April 30, 2024, and 2023, respectively, while revenue from our RaaS model accounted for approximately 2.7% and 4.7% of our total revenues for the years ended April 30, 2024 and 2023, respectively. We also provide a range of support and maintenance services, including preventive and corrective maintenance of our robots, manning services, training, data transfer, and both software and hardware upgrades. Customers can opt to purchase a service and maintenance contract tailored to their requirements, offered at a fixed price without variable consideration, typically for an average term of 5 years. Revenue of service and maintenance represented approximately 79.3% and 77.6% of our total revenues for the years ended April 30, 2024 and 2023, respectively. Corporate History and Structure Our Group’s history can be traced back to May 4, 2015 when Otsaw Digital Pte. Ltd. was founded by Mr. Ling Ting Ming, our chairman, director and chief executive officer, after Mr. Ling’s return to Singapore from Silicon Valley in 2015. Under the leadership of Mr. Ling, we specialize in designing, developing, and manufacturing of Autonomous Mobile Robots (“AMRs”) and other next generation robotics products and solutions, with the aim to disrupt the facilities management industry with our AI -enabledAMRs and robotics solutions in the realms of security, sanitation, last -miledelivery, logistics, and healthcare. As of the date of this prospectus, our Group comprises Otsaw Limited and its subsidiaries, Otsaw Digital Pte. Ltd., Otsaw Digital, Inc., Otsaw Technology Solutions Pte. Ltd., Otsaw Technology Pte. Ltd., Otsaw Swisslog Healthcare Robotics Pte. Ltd., and Otsaw Swisslog Healthcare Robotics GmbH. Corporate Structure