Photo - Juix
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Juix

Distributed Network of on-demand power banks.

USA, California
Market: Services, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 19.02.2020
Min investment
$  32.500
Show contacts
Total required
$ 650.000
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Idea

We allow users to rent power banks while they are out of the home or office. Think "Bird" for power banks. We place our charging stations in bars, clubs, tourist destinations, etc., and allow people to remain mobile while charging their devices.

Currently we've deployed 17 stations in SF and are planning to expand into a full launch at the beginning of March, by introducing another 215 charging stations to the Bay Area.

Current Status

We launched a pilot in October 2019 with only an iOS App live and 17 charging stations.

Since then we have gotten:
- 423 Rentals
- 20% Average Returning Rentals
- 859 Hrs of Rental Time
- 2.24 Hrs of Average Rental / Customer
- $1382 of Wallet Balance Uploaded
- $3.27 of Avg. Wallet Balance Uploaded / Customer
- 29% Average Bounce of Sign Ups --> Rentals

We launched our Android Application 2 weeks ago and are about to expand our deployment by 215 charging stations.

Market

Market Opportunity is calculated based on all smartphone users in the US, on a pay per use model.
TAM - Every smartphone user in the US: $20B
SAM - Every smartphone user in US Cities > 100,000 people: $3B
SOM - NY / SF / LA, Juix Initial Target Markets: $644M

Market Opportunity calculated on the same data, but with a Subscription Pricing Model.
TAM: $25.9B
SAM: $7.5B
SOM: $1.6B

Problem or Opportunity

Currently, charging outside the home or office requires carrying cables, finding an outlet to use, and then waiting around while your device charges. This is archaic, inefficient, and cumbersome.

Spending 30 min / day charging = 15 hours / month = 180 hours / year of charging rather than doing anything else.

The only portion of our smartphones that isn't mobile, is charging.

This is targeted at users 18-34 yrs old, millennials / young professionals who value experience over ownership, and live asset light lifestyles.

Solution (product or service)

Our solution is a distributed network of on-demand power banks, able to be rented anytime, anywhere.

We allow users to physically rent a power bank, charge their mobile device on the go, and return to any other location when done.

The concept can be described as "Bird" for power banks.

Our power banks contain all the cables anyone would ever need as well as enough capacity to charge up to 2 phones.

Competitors

Competitors in the space are:
RedShare - In NY and LV
Powershare - In Chicago
ChargeFuze - In LA
FuelRod - In SD, LA, and small presence in other various markets

Advantages or differentiators

Our advantage is our distribution channels and our target demographics.

We are focused on deploying initially to the highest demand locations, specifically dominating all of nightlife.

Here we win as we have networks to get us into the nightlife industry and expand to multiple large locations. For us, it is key to get as much market share as possible. As a commodity service, it will be accessibility and product that determines the winner.

Further, we will be introducing fast charging for smartphone and support for USB-C laptop charging and will be the only company to do so in our space.

Finance

From our pay per use model, we have modeled out the next three years of Juix.

The key levers for us are sales and ground operations, with a majority of our spend being on hiring and distribution.

Business model

We only charge consumers in our business model.

Partner locations that house our charging stations get the station for free and receive a 20% revenue share for any rentals generated.

User's pay the following:
$1 / Hr to rent
$5 / Day = Max Rental Fee
48 Hrs = Max Rental Time
If held over 48 Hrs, the user is charged $20 + $10 (2 days of max rental fee)

Money will be spent on

We will use this upcoming raise to:
- Expand our deployment throughout the Bay Area by 325 Charging Stations
- Improve internal tooling for more granular cohort analysis
- Achieve a $1M Run Rate by Q4 2020
- Prepare for blitz scaling / fully develop a scalable sales strategy

Offer for investor

$650,000 at a $5M Pre-money Valuation Cap
Convertible Note
12 Months

Team or Management

Risks

The risks associated are if battery technology has a leap in innovation or if a large player like Lime or Uber decide to enter this market as opposed to acquire us.

Another risk that we face is exclusive contracts. Once we place our unit in a location, it becomes extremely hard for any other company to come in and place their hardware. This is a double edged sword as if another company beats us to a location, we face the same issue.
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Idea
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Finance
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Money will be spent on
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