NuriFlex

What NuriFlex does

NuriFlex Inc. is a privately held digital transformation company headquartered in Bellevue, Washington, and operates as part of the broader Nuri Group alongside Nuriflex Holdings Inc. (British Columbia, Canada) and Nuriflex Co., Ltd. (South Korea). The company positions itself as a complete Energy IoT provider, built on more than 20 years of accumulated AMI (Advanced Metering Infrastructure) and telecommunications experience. Its platform integrates smart metering, cloud-based AMI servers, and a blockchain-based DEX (Digitized Exchange Platform) that combines an E-Wallet with energy-token-based payments for household electricity, alongside supporting modules for Digital Wallet, DID-based identity verification, CBDC, micro-lending, energy trading, and SNS telemedicine.

The company's revenue model is multi-pronged and includes platform licensing and software services to utilities and governments, transaction and processing fees from E-Token payments and P2P remittances, fees from energy-trading and solar-kiosk services, professional services for healthcare payment platforms, and project-based revenue from solar infrastructure deployments under PPAs. Go-to-market relies on enterprise field sales, public-private partnerships, and strategic channel alliances with regional operators such as LINE Plus Corporation (CBDC), Singapore Power Group (Vietnam solar), New Tech Management Cameroon S.A. and Santé Universelle Cameroun (Cameroon UHC).

Customer segments span utility companies (primary), government health programs, central banks and financial institutions, renewable energy providers, and industrial manufacturers. Anchor engagements include prepaid AMI deployments with Ghana utilities since 2013, Cameroon's 17-year Universal Health Coverage PPP targeting 22.9 million beneficiaries, and a 20 MWp rooftop solar deployment in Vietnam projected to generate 28,000+ MWh annually. The company is led by CEO Elizabeth Park, has disclosed only 1–10 US-based employees, and has raised under $0.5 million across two small funding rounds in late 2019 and early 2020.

Name

NuriFlex

Legal name

NuriFlex Inc.

Website

https://nuriflex.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1–10 employees

Short description

NuriFlex Inc. is a Bellevue, WA-based digital transformation company that provides a blockchain-enabled Energy IoT platform—combining AMI smart metering, DEX digital payments, and CBDC/telemedicine modules—to utilities, governments, and financial institutions primarily across Africa and Southeast Asia.

Ownership category

akta.pro rank

Product category

Utility Management Software

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Finance Services (6199), Services-Computer Programming Services (7371), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Micropayments & Streaming Payments (Crypto) (FSADAIAM)

akta.pro secondary industries

Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB), Account Abstraction & Smart Wallet Tooling (AA SDKs, paymasters, session keys) (FSAPABAK), Authorization & Permissions (delegation, allowances, capability-based access, session keys) (FSAPACAJ), Residential DER Aggregation & VPPs (Solar+Storage, Smart Home, Community) (EUAFAHAA)

Keywords

• Smart metering infrastructure
• Blockchain payment platform
• Energy IoT solutions
• Central bank digital currency
• Digital wallet services

Headquarters

HQ city

Bellevue

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Platform Licensing and Software Services: Revenue generated from licensing blockchain-based platforms (DEX, Digital Wallet, AMI systems) to utility companies and government entities. Includes implementation and customization services.
2. Transaction and Processing Fees: E-Token based transactions for electricity payments, P2P transfers, and remittance generate transaction fees. Pre-paid AMI systems process token-based payments with associated fees.
3. Energy Trading Platform Fees: Fees from renewable solar kiosk services, micro-payment processing for merchants, and bill payment services on the DEX platform.
4. Healthcare Solutions: Revenue from telemedicine platform services and blockchain-based payment platforms for Universal Health Coverage projects, including premium payments and billing management.
5. Solar/Energy Infrastructure Projects: Project-based revenue from deploying solar systems (20 MWp rooftop solar) under Power Purchase Agreements, generating electricity and carbon credits.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

NuriFlex provides an integrated Energy IoT solution combining Advanced Metering Infrastructure (AMI) and Cloud AMI with a blockchain-based DEX payment platform, Digital Wallet, and decentralized identity (DID) layer. Its portfolio additionally includes Central Bank Digital Currency (CBDC), energy trading, micro-lending, healthcare payments, and telemedicine modules, sold primarily to utility companies, central banks, and government programs in emerging markets.

Product overview

NuriFlex offers a modular platform portfolio centered on energy IoT and blockchain-based financial services. The core platform combines AMI (Advanced Metering Infrastructure) and Cloud AMI for utility data collection and management, connected to DEX (Digitized Exchange Platform) and Digital Wallet for blockchain-based payments using Energy Tokens. Supporting modules include DID Issuance for blockchain identity verification, CBDC for central bank digital currency, Energy Trading for utility commerce, Health Care for medical payments, Micro-Lending for credit services, and SNS Telemedicine for remote healthcare communication. The portfolio serves utilities, governments, and consumers across Africa, Southeast Asia, and the Caribbean, with over 25 years of telecommunications and utility sector experience.

Differentiator

Problem solved

Functional benefit

Brands

• DEX (Digitized Exchange Platform): Blockchain-based E-Wallet payment solution combined with smart metering infrastructure for utility payments and energy trading.
• Digital Wallet (E-Wallet)
• SNS Telemedicine
• AMI (Advanced Metering Infrastructure)
• Cloud AMI
• DID Issuance
• CBDC Platform
• Micro-Lending
• Health Care
• Energy Trading

Products and services

• AMI (Advanced Metering Infrastructure) Remote-control solution that collects, manages, and analyzes daily energy consumption data for utilities including electricity, water, and gas, with smart metering, two-way communication, billing integration, and power theft surveillance. Targets electricity, water, and gas distribution utilities.
• Cloud AMI Cloud-based server environment for AMI system deployment and operation that removes upfront infrastructure costs, provides scalable capacity, and reduces ongoing maintenance expenses.
• DEX (Digitized Exchange Platform) Blockchain-based payment platform combining E-Wallet solutions with smart metering infrastructure, using Energy Tokens (E-Token) as currency linked to local electricity prices for utility bill payments, P2P transfers, and cross-border remittance.
• Digital Wallet Blockchain-based system enabling instant cashless payments, P2P remittance and transfers, online purchases, and digital storage of personal and banking information with FIDO-standard authentication.
• DID Issuance Platform Blockchain-based certification platform issuing Decentralized Identifiers (DIDs) to customers who complete identity verification, providing KYC status and trust level for identity requests.
• CBDC (Central Bank Digital Currency) Platform Platform for central bank digital currency issuance and management, supporting both retail CBDC for general economic participants and wholesale CBDC for financial institutions, with single or distributed ledger architecture options.
• Energy Trading Digitized energy exchange platform enabling utilities, merchants, and end users to sell and procure utilities, process payments, and trade goods and services, with prepaid/postpaid power purchase, electronic bill payment, and renewable solar kiosk features.
• Health Care Blockchain-integrated healthcare service combining DID-based identity verification with universal healthcare provider integration for patient registration, hospital and pharmacy payments, and health insurance claims processing.
• Micro-Lending Micro-finance lending service allowing utility customers to purchase electricity on credit, with e-Token issuance for power trades and lending, QR code payments via Digital Wallet, and P2P remittance capabilities.
• SNS Telemedicine Secure telemedicine platform enabling authorized patients and doctors to exchange text, audio, and video messages, with real-time audio/video group conferencing for remote medical consultations.
• Telemedicine SNS Comprehensive telemedicine service providing health care coverage information, health center directories, GPS localization for nearby hospitals and pharmacies, and digital ID storage for medical services.

Quantifiable outcome

• Power theft reduced to near zero in deployment regions
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Six partnerships are on record, tiered core and minor.

• LINE Plus CorporationcoreStrategic or Co-development Partner · 27 May 2021NuriFlex signed MOU with LINE Plus Corporation (Korea-based subsidiary of LINE Corporation) to collaborate on Central Bank Digital Currency (CBDC) platform business in Caribbean, South America, and Africa. LINE provides blockchain technology and CBDC platform experience while NuriFlex contributes regional business experience and existing blockchain platforms.
• New Tech Management Cameroon S.A.coreStrategic or Co-development Partner · 17 January 2020Strategic partnership for development of blockchain-based payment platform for Cameroon's Universal Health Coverage Project. NuriFlex serves as main technical partner for the national health coverage system. Partnership scope expanded to include telemedicine platform and multifunctional messaging application.
• Santé Universelle Cameroun (SUCAM)coreImplementation/ SI/ Consulting PartnerSUCAM is the implementing company for Universal Health Coverage in Cameroon under a 17-year PPP agreement. NuriFlex provides technical solutions including Datacenter construction, blockchain payment platform, and telemedicine services in partnership with SUCAM.
• GK Engineering and DevelopmentminorStrategic or Co-development PartnerKorean partner cited as supporting partner for Universal Health Coverage project in Cameroon, involved in building the Data Centre alongside SUCAM.
• Singapore Power GroupcoreStrategic or Co-development PartnerPartnership to deploy 20 MWp rooftop solar systems across three manufacturing facilities in Vietnam. Project supported by Power Purchasing Agreement with TKG Taekwang Vina. Aims to generate over 28,000 MWh annually and reduce carbon emissions by more than 22,000 tons per year.
• TKG Taekwang VinacoreChannel Partner/ Reseller/ DistributorCustomer and PPA partner for 20 MWp rooftop solar deployment. Singapore Power Group and NuriFlex Vietnam are deploying solar systems at TKG Taekwang Vina's manufacturing facilities.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Siemens Smart Infrastructure: Large diversified industrial vendor with smart grid, AMI, and energy management offerings under its Smart Infrastructure division. Comparable on utility-side metering and grid management, but as part of a much broader portfolio and without emerging-market blockchain payment integration.
• Huawei Smart Grid: Global ICT vendor with a strong smart grid and AMI practice, particularly in Africa and Southeast Asia where NuriFlex operates. Comparable on smart metering and energy IoT for utilities, though Huawei is a broad incumbent rather than a blockchain-native specialist.

Direct peers

• Sagemcom: Smart metering and energy management solutions provider serving utilities globally. Directly comparable AMI/meter data management overlap with NuriFlex, especially in emerging-market utility rollouts.
• Kamstrup: Smart metering solutions provider for electricity, water, and heat utilities. Comparable to NuriFlex AMI offerings on multi-utility meter data collection and remote management, but primarily serves European utilities with hardware-centric deployments.
• Landis+Gyr: Major AMI/smart meter vendor competing in the same utility procurement cycles as NuriFlex. Comparable on metering hardware, meter data management, and utility-grade software, but without the integrated DEX/E-Wallet layer for emerging markets.
• Power Ledger: Blockchain-based peer-to-peer energy trading platform. Closely comparable to NuriFlex's Energy Trading and DEX modules, with overlap on renewable solar kiosk services and P2P energy commerce.
• Energy Web Foundation: Open-source blockchain ecosystem purpose-built for the energy sector. Directly comparable to NuriFlex's grid-focused blockchain stack and energy trading tools, though Energy Web operates as a foundation rather than a commercial vendor.
• Itron: Global leader in AMI and smart metering for utilities. Directly comparable to NuriFlex's AMI and Cloud AMI offerings, though Itron serves larger Tier-1 utilities and does not bundle blockchain-based payment infrastructure.

Emerging players

• ConsenSys: Blockchain software house offering enterprise and CBDC infrastructure, including the Quorum stack used in several central bank pilots. Comparable on CBDC platform and digital wallet tooling, though ConsenSys is far larger and serves Tier-1 financial institutions.

Regional players

• Safaricom (M-Pesa): Mobile money leader across East Africa with deep penetration of utility bill payment use cases. Comparable to NuriFlex's E-Wallet and DEX for utility payments in Africa, though M-Pesa is regional, telco-anchored, and operates at vastly larger scale.

Market position

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nuriflex

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NuriFlex