We’re looking for €800k to enable us to open new sales channels, increase marketing efforts and get to 3.5M revenue in 18 months.

We are currently producing batches of 25 units and delivering to users. We are working on a remote access feature that will allow users to monitor their anchor remotely, which is a priority for consumers as well as fleets. The main goal this season is getting this function available, that’s why we’re also partnering with a marine telematics company that caters to 25000 boats and will be easily implementable.

At the moment we have a transactional model that reaches a 16 billion TAM. With subscriptions, add-ons and rentals we will increase this model significantly.

We’ve tested out different types of online campaigns and discovered Youtube and Facebook are great for lead gen, we’ve optimised SEO, so we’re getting organic traffic to the website and have a growing number of signups and reservations. Next to that we’re reaching out to businesses that will sell the product as a bundle with their product lineup or on its own. Through distributors we’re able to reach a wider audience quickly in different countries. Our primary strategy has been online first with great results as people recognise the brand already at boat shows, which are a great channel to gain recognition and generate sales.

We are using additive manufacturing to produce our buoys, so we can set up manufacturing anywhere in the world and achieve the same results. With hardware and our proprietary software that works on all devices we have the freedom to innovate, add functionality and improve products remotely.

It’s a proven business model that will only increase in scalability with more users, subscriptions and plan to include fleets and other businesses apart from direct to consumers. We’ve got a proven demand and the market is growing with a 4.1% CAGR.