Investment opportunity :)

[Anon2731]

Greetings UK Business Forum members,

I hope this is in the correct section, my apologies if it's not!

In 2017 I started a company to sell a new gadget I made, a wearable bluetooth button that sends SOS alerts & Google Maps location to safeguard the most vulnerable. My goal was to make panic buttons more affordable by creating a more affordable way to call for help for those who couldn't afford monthly subscriptions, which was the only other reliable method.

In short, the app uses the user's mobile phone to remotely send the alerts when the user can't reach their phone, using the mobile app.

I created a thread on this forum at the very start and was overwhelmed with the positive responses and constructive criticism which helped in many ways to improve the product.

Since then, the app has sold 600 buttons in 15 countries and our customers include the Youth Offending Team and Metropolitan Police Service.

I've been since blessed to have been joined by my 2 business partners on my journey, a B2B specialist and our new chief technical officer.

We are now raising funds for our next generation of button. This upgrade will mean the user will no longer need their mobile phone to send the alerts, but will also be able to use anyone's phone nearby who has the app installed on their phone. The goal is to create a community of app users who are helping the vulnerable by simply having the app installed on their phone; the cost to the community member for sending the alert will be less than 1mb of data used on their phone once the V2 is pressed nearby.

I would love for you to join us on this journey to safeguard the most vulnerable in your own community by investing in our company (as well as having the app on your phone) once the project is complete.

we aim to raise 400k to really change the safeguarding industry for the better, as no other options like this exist.

Please do get in touch with any questions and interest.

I'd like to end by showing my gratitude to this forum. In the very start I was unsure as to whether I was capable of making a change; the support and 'egging on' I got from this community will never be forgotten.

Many thanks for reading,

 

[Nico Albrecht]

I would hardly call 600 sales in 15 countries an item that has a demand at all. The idea is actually really flawed for stage 2 and you already failed on stage 1 to proof there is a need for it. Asking 400k for it I am sorry but April 1st was a couple days ago.

 

[Nico Albrecht]

Your tech is actually really flawed to be honest. With all the wearable Bluetooth paired watches on the market with the likes of Samsung and Apple watches and many more they can easily integrate that function on the OS level if there would be a demand and have it even paired with bio sensors too. All that type of tech is moving towards automatic interaction where sensors doing the job without any human interaction.

 

[Anon2731]

[QUOTE="I am sorry but April 1st was a couple days ago.[/QUOTE]

Thanks for your double-whammy input Nico. The quote above will take some beating..

I'm currently wearing a Samsung Gear S3, which cost me £350 new and has similar, though limited functionality - however, not everyone is fortunate enough to be able to afford such a luxury.

What I provide is a solution for vulnerable people who don't have hundreds of pounds to spend on smart watches, but need to call for help quickly and discreetly.

Though our sales may not be impressive to you, having achieved what I have whilst working full time as a police officer and funding the first button, app and marketing myself, where we are today shows me that there are people out there who need solutions to their problems that are affordable.

 

[Nico Albrecht]

you buy Chinese branded Android smart watches for next to nothing or a starting point of $15 If people want more they spend it on a big brand so pricing to buy it no problem.

 

[Clinton]

I think it's a worthshile product and I like the fact that there are no ongoing monthly fees.

Yes, your target market is somewhat reduced if there are other smart products that can provide the same functionality at no additional cost, but the average grandma is unlikely to be using an Apple watch.

Out of curiosity (more than personal investing interest), for what do you need £400K? Do you have a clear plan and cash flow forecast?

Do you have a pitch deck you could send me?

How are you looking to raise this money? Crowd funding? Angels? Something else? (Surely you don't expect to get it here in UKBF!)

 

[Anon2731]

Hi Clinton,

yes, the same goes for domestic violence victims. As from the start of 2020, the majority of our sales will be made to safeguarding and government organisations who provide the buttons to their service users.

The 400k will go toward, amongst other things (ie marketing) development of the new system and hardware button, which will mean the button no longer relies on the user's phone to send the alerts, but will be able to send via any phone nearby with the app installed. This is what is so valuable and industry changing in our next project. A domestic violence victim is not expected to have access to their phone in situations they would need to call for urgent help, for example.

I'm happy to send you the V2 pitch deck, I'll send you a private message. This hopefully answers any questions you have as to why we are raising this amount.

We are in the first process of crowd funding, have some investment already and need to raise more before the project is released into the wild (ie crowd funding platform).

Many thanks,

Peter

I think it's a worthshile product and I like the fact that there are no ongoing monthly fees.

Yes, your target market is somewhat reduced if there are other smart products that can provide the same functionality at no additional cost, but the average grandma is unlikely to be using an Apple watch.

Out of curiosity (more than personal investing interest), for what do you need £400K? Do you have a clear plan and cash flow forecast?

Do you have a pitch deck you could send me?

How are you looking to raise this money? Crowd funding? Angels? Something else? (Surely you don't expect to get it here in UKBF!)

 

[Nico Albrecht]

Can't believe you entertain this idea Clinton. Their tech req. an actual subscription in form of a data and phone package to work.

If pricing is a concern granny gets a £25 china Android smart watch paired to her mobile phone. Since they make it already all they need is modifying their app to allow a tab gesture or bio input to trigger an action on the phone. Now granny is save got a watch, panic button and with a few more lines of code a possible medicine reminder and can make phone calls as well via speech rec. already build in. One product at a very low price point that does several function easily integrated into existing low cost tech.

 

[billybob99]

Fair play for getting to where you got to.

Apple watches are never going to be integrating this into their watch. Anyone who was hypnotised into buying an Apple watch will know how ridiculously stupid it is to use.

I do remember an Israeli startup doing something very similar, a panic button that came around just after some shootings in US synagogues.

The other one that springs to mind is Revolar.

There are a couple more but forgot the names.

You just need to talk to the right people.

 

[billybob99]

Can't believe you entertain this idea Clinton.

Some people know what potential is.

Others just play it safe and recover data from dud HD's.

 

[Anon2731]

Fair play for getting to where you got to.

Apple watches are never going to be integrating this into their watch. Anyone who was hypnotised into buying an Apple watch will know how ridiculously stupid it is to use.

I do remember an Israeli startup doing something very similar, a panic button that came around just after some shootings in US synagogues.

The other one that springs to mind is Revolar.

There are a couple more but forgot the names.

You just need to talk to the right people.

Thank you for the kind words at the start of your comment Billybob. As you know, it takes work, commitment and most of all trust in the cause.

There are a few similar products out there, though in my opinion lack the simplicity and custom options (in terms of specific message, ability to add crime reference number ect) to do what the app does. We are also going to be the first to be linked to the emergency services' direct text message service.

I'm confident the majority of the replies to this thread will be constructive, and that the posters will have the self control to avoid negative sarcasm.

Many thanks,

Pete

 

[alan1302]

How does the app work to send a call from the button press is it Wi-Fi?

 

[Nico Albrecht]

Others just play it safe and recover data from dud HD's.

Don't care much about the dudes as the dude customer most likely cannot afford it. But cooperation's and other agencies pay me well to play it safe.

600 in sales and asking for 400k for tech that cannot be protected and very easily replicated is just insane. Nothing wrong with risks but the odds here are awful based on current tech and development from other companies. The way it is done is obsolete and a generation behind with a very tiny market.

 

[Anon2731]

How does the app work to send a call from the button press is it Wi-Fi?

Hi Alan,

With the current app, the alerts are sent using data or wifi from the user's mobile phone (whatever is best available), within 30 metres range of the button.

With the our next development (which we are raising funds for) V2 will not only need to be in range of the user's mobile phone, but within range of anyone nearby who has the app installed on their phone.

The plan is to have everyone have the app installed on their phone, and to partner with phone companies to pre-install the app on all mobile phones as factory default so that the chances of the alerts being sent are greatly enhanced. I aim to create a true social network.

The reason why Google Maps is so accurate in terms of location and traffic updates is due to use of the technology we will be implementing into the V2.

Many thanks,

Pete

 

[Anon2731]

The way it is done is obsolete and a generation behind with a very tiny market.

The point of this thread is to aid in raising funds for a project which is a generation ahead of any distress button on the market.

 

[alan1302]

Thanks, Pete. Sounds like a great idea and wish you well with it. Myself and my wife would be very happy to have an app like that installed knowing it could help someone in need.

My wife used to work with a company who had a similar type of device which NHS workers wore on built into their ID badges when in dangerous/threating environments when out visiting.

 

[Anon2731]

Thanks, Pete. Sounds like a great idea and wish you well with it. Myself and my wife would be very happy to have an app like that installed knowing it could help someone in need.

My wife used to work with a company who had a similar type of device which NHS workers wore on built into their ID badges when in dangerous/threating environments when out visiting.

Thanks Alan,

I'm proud to have some members of our cherished NHS as customers. I'm grateful for your support and please thank your wife for her service - you both obviously get it, and I do appreciate that some people don't. Members and family of emergency service workers do have an advanced understanding of the needs of vulnerable people, and I cannot expect everyone to understand without explanation.

Unfortunately, services similar to this which large organisations implement come at a great cost (yearly contracts, monthly costs), sapping vital resources away from medical equipment and services. My goal is to reduce the cost to the taxpayer and organisations who should be free to otherwise spend on more vital operational needs.

Many thanks,

Pete

 

[Anon2731]

Hi Alan,

With the current app, the alerts are sent using data or wifi from the user's mobile phone (whatever is best available), within 30 metres range of the button.

With the our next development (which we are raising funds for) the V2 will not only need to be in range of the user's mobile phone, but within range of anyone nearby who has the app installed on their phone.

The plan is to have everyone have the app installed on their phone, and to partner with phone companies to pre-install the app on all mobile phones as factory default so that the chances of the alerts being sent are greatly enhanced. I aim to create a true social network.

The reason why Google Maps is so accurate in terms of location and traffic updates is due to use of the technology we will be implementing into V2.

Many thanks,

Pete

Let me clarity that the alerts are sent as an SMS text message to selected contacts. They will receive an alert stating that urgent help is needed, displaying the user's name, dob and address as well as a Google Maps link which will display where they were when the button is pressed. The user is also free to edit the message to include any relevant reference numbers relating to either crimes or cases, if being sent to service workers or emergency services. It is not a tracker.

 

[bodgitt&scarperLTD]

Bit Orwellian if you ask me. I can’t see you managing to get this installed on enough phones.

 

[Mark T Jones]

Unfortunately you lost me at opportunity- which sadly has become a ‘dead cow’ sales terms too often used by low level MLM and bitcoin sellers

on a more serious note , your passion is great and the cause itself will create some positive engagement but there has to be a clear business proposition - leading ultimately to a return ( think in terms of minim 3 x investment over 3 - 5 years)

I tend to stay away from recommending crowd funding - all too often it it a sold as the Patron Saint of lost causes, but I can see how you could build and it / find a decent crown to invest here

 

[fisicx]

I’m a bit confused.

If you need the cash to develop a new model that doesn’t need a nearby phone doesn’t this mean the device will need its own sim? And if that is the case won’t there now be a subscription?

 

[Stas Lawicki]

I’m a bit confused.

If you need the cash to develop a new model that doesn’t need a nearby phone doesn’t this mean the device will need its own sim? And if that is the case won’t there now be a subscription?

I think this is the only way it will work. The op said if a users near by has the app it can piggyback off that (unless I've missed a post, which is entirely possible).

I would say it would have great value if it didn't have to rely on:

1) phone being on
2) Bluetooth being on
3) app being open
4)phone being in range and not travelling off somewhere else (ie, triggered in a car driving passed)
Etc etc

If it can work on its own, with a nanosim or some other way off broadcasting a signal then great. Problem then is how do you keep sufficient power in such a small device abs what if you don't have a signal?!

Can and is it possible to use the emergency service rf frequency?

I would buy one for my aunt but she doesnt have a mobile phone and lives in a detached house far from neighbours!

Finally, there is something similar to this that is wired into a dwelling and works via rf (I think). Been around for years. Is your usp the bt?

 

[mattk]

I recently bought an alert button for my Mum who suffered a stroke. Can I ask why you chose Bluetooth rather than the traditional base station? Having suffered a brain injury my Mum often forgets to charge her phone. I presume this would render your button inoperable.

Secondly, what is the range? Although my Mum is in a wheelchair she can traverse the downstairs of her house, although unlike us youngsters she doesn't take her phone everywhere she goes.

Finally, with no ongoing fees I assume this means you don't have a call centre and therefore you just pick emergency contacts from a predefined list?

I have to say, when it comes to an item like this I would much rather shop by reliability/service than price.

 

[Chris Ashdown]

I would be wary of having the app on my phone as this open link could be open to misuse by others possible using my account for phone calls or grabbing my data

Whist I liked the idea of the first option, I would have thought the second would use say prepaid simms and use a inbuilt mobile phone to alert, making it a total one piece solution maybe worn around a necklace of some sort

 

[Financial-Modeller]

This sounds perfect for raising money by crowdfunding.

People 'investing' via crowdfunding websites tend not to ask too many questions or place the 'opportunity' under much scrutiny.


edit: @Mark T Jones beat me to it, with similar sentiment.

 

[BusterBloodvessel]

I’m confused. What happens if somebody has a fall, presses the button, and nobody is around them / nobody has the app installed? What is the backup option to make sure the SMS gets sent out?