About Premonition
Premonition is a cutting-edge AI tool revolutionising logistics for B2B businesses. Designed for fleets of up to 1,000 vehicles, it combines real-time route optimisation, visibility, and analytics to save time and boost efficiency. Developed in Australia through years of R&D, Premonition has transformed how logistics companies operate.
The Challenges
As a growing startup, Premonition faced two major challenges:
- Funding R&D Efforts: They needed guidance to navigate the R&D Tax Incentive process, ensuring compliance and minimising audit risks while managing cash flow.
- Navigating Due Diligence for Sale: When selling their business, they faced anxiety over due diligence, especially given high-profile cases of mismanaged R&D funding. They required expert support to ensure compliance and a smooth transition during the sale process.
How Rimon Stepped In
Rimon provided comprehensive support to Premonition, addressing both challenges:
- Maximised R&D Eligibility: Over several years, we simplified complex tax laws, reviewed applications for accuracy, and ensured compliance to unlock maximum R&D benefits while minimising audit risks.
- Due Diligence Support: During the sale, a Big Four accounting firm was brought in to meticulously review every R&D application Premonition had ever submitted to ensure full compliance and a seamless handover process. We passed the due diligence with flying colours giving the Big Four firm the confidence to give the go ahead for the buyer to purchase Premonition with peace of mind.
- Tailored Strategic Guidance: Throughout our partnership, we provided ongoing, customised support to help Premonition navigate red tape and streamline their R&D claims.
The Results
- $2 Million in R&D Grants: Over eight years, Rimon helped Premonition secure approximately $2 million in R&D funding, enabling them to invest in innovation and bring their groundbreaking technology to market.
- Smooth Business Sale: Our due diligence support ensured Premonition received the “green tick” of approval, allowing for a successful and stress-free business handover.
Why It Matters
This case study highlights the value of having a trusted partner like Rimon Advisory to navigate the complexities of R&D funding and due diligence. With Rimon’s expertise, Premonition not only maximised their R&D benefits but also achieved a seamless business sale, setting them up for long-term success.
