A working prototype, presold 1500 units to 135 B2B customers, raising capital to fulfill preorders and to start mass production and sales.
Market potential: According to Gartner, in 2017, total U.S. training expenditures including payroll and spending on external products and services took an upward trajectory, soaring 14.2 percent to $70.6 billion. Spending on outside products and services skyrocketed 29 percent fr om $6.1 billion to $8 billion, while other training expenditures (i.e., travel, facilities, equipment) more than doubled to $28.7 billion. With Vyoocam, the plan is to grab a large portion of the 28.7 billion dollar market, especially the part wh ere businesses spend money on travel and equipment.
Problem or Opportunity
On their smartphones, people use apps for video conferencing, live video streaming, video recording or apps for computer vision (AI) and more. In many professional uses, technical personnel often find it challenging to use smartphones when their hands should be free and available to perform high-quality work. With Vyoocam, professionals can use the same apps they use on their smartphones, but while having their hands free.
Solution (product or service)
The first wearable device running on a standard Android OS with Google Play store preinstalled. Only Vyoocam supports thousands of apps already built for businesses. By running video conferencing apps only, Vyoocam presents an enormous potential for cost savings, more specifically reducing travel and training expenditures, ultimately improving business profitability.
Companies building smart-glasses like Vuzix, RealWear, ODG and similar.
Advantages or differentiators
Because of a head-up display built into the device, every Smart Glasses device runs on a custom developed OS. As a result, to work with those devices, app developers need to develop custom apps, and that's why there are no apps for Smart Glasses. Compared to any Smart Glasses, Vyoocam is running the same OS as any Android smartphone, and therefore supports thousands of apps already built. Also, Vyoocam can clip to any eyewear or surface, and having no head-up display, makes it less invasive to wear and easier to operate. Moreover, Vyoocam is small and robust, fits into any pocket, provides improved battery life, and it’s far less complicated to build, hence provides a more affordable solution.
Seed stage, Raised $250K, $3M Cap, convertible debt, Raising $1M on a $6M Cap convertible debt, Product in development, Expona (Shenzen) Customers secured for 1,500 (12K in 1Y) units
Our business relies on several recurring and non-recurring revenue streams.
The plan is to build and sell wearable devices, to license the technology to other hardware companies, to sell Vyoocam SDK to app developers for video/AI/computer vision, to sell a monthly subscription for our cloud-based video streaming service and to build and sell hardware accessories like mounts, cables, battery packs, device add-ons.
Money will be spent on
- production: BOM (bill of material), manufacturing, assembly, packaging
- product development
- marketing & sales
Offer for investor
Looking for 1M USD convertible debt, 6M cap (discount and interest rate negotiable)
Defensibility: We have developed a proprietary technology which allows Vyoocam to remotely use a screen of any other mobile device as its own. The so-called Remo-droid technology is being tested on 5 million users. The plan is to further patent the technology.
Incubation/Acceleration programs accomplishment
ABC accelerator (SLO), ReadWrite Labs (US, San Francisco)
Won the competition and other awards
- IdeaKnockout Winner (Cro), won booth at Eureka Park @ CES (Las Vegas)
- winner of the 2018 China Mobile Innovation Competition in Silicon Valley
- finalist of 2019 EU Wearable Technologies as the best wearable for the Industrial application (Germany, Munich)
- top ten B2B wearables by TechRadar