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TownChat

TownChat will create seamless travel experience for tourists

USA, Delaware
Market: Tourism, sport, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 05.07.2020
Min investment
$  50.000
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Total required
$ 500.000
Rating
equalizer из 1000
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Idea

TownChat will create seamless travel experience for tourists by connecting them with local residents and brands, generating Traveler Identity QR Codes for documentless identification, facilitating navigation through airports and providing in-flight entertainment.

Brands will be able to do marketing of products and content through our "Push for Marketing" service. QR Code based Digital Identity will replace conventional passports for entry and exit at borders and could be used for Check-in and Check-out at airport lounges and hotels.

Current Status

So far we have done validation of our MVP with 763 users. Other KPIs include $14K Traction MRR, 90% Conversion Rate, 97% Retention Rate, 95% Users Engagement Rate, 30% MoM Growth Rate and 90% Net Promoter Score.

Our KPIs Dashboard is available at https://public.tableau.com/profile/adeel.javaid

Market

We are targeting 1.3 billion tourists and social mobile users across the globe. Total Addressable Market of mobile content marketing is $20 Billion. We will initially be targeting $3 Billion market or 15% of TAM. Compound Annual Growth Rate (CAGR) of market is 18.9%.

Problem or Opportunity

Tourists want seamless travel experience. More than 60% tourists use navigation and social media apps during traveling as an alternative to social travel app. As per IATA Survey 82% travelers want Smart Passport on their smartphones for seamless immigration and check-ins and check-outs at airports, hotels and other places.

As per statista there are 1.3 billion tourists globally.

Solution (product or service)

We are using AI and ML to match tourists with local residents, prevent the creation of fake profiles and to generate Traveler QR ID. We are using deep learning for anti face spoofing and Machine Translation for automatically translating messages in user's primary language. All messages including group messages on TownChat will appear in primary language of users.

We are also introducing "Push for Marketing" concept for brands. Our content marketing channels are powered by AI and will match brands/products with users based on their interests. Only users who select the option to receive marketing and promotions push messages will receive those messages.

Competitors

Our competitors include WhatsApp, WeChat, Nextdoor and Airside. We have first mover advantage for QR Code based Digital Traveler ID.

Advantages or differentiators

We are using facial recognition, Machine Learning and Artifical Intelligence to prevent the creation of fake profiles. We are using deep learning for anti face spoofing including face spoofing using 3D Masks. Our process of generating dynamic QR Codes is such that no one can create and use fake passport id as is the case with conventional passports. Leveraging the power of 5G Technology our QR Codes will keep track record of all user check-ins and check-outs could also be integrated with KYC providers for KYC verification by immigration authorities and banks and other financial institutions. This is obviously something our competitors WhatsApp and Nextdoor does not offer.

Finance

We are Pre-Revenue. 645 users signed up for our in-app content marketing solution which is equivalent to $14K in MRR.

Invested in previous rounds, $

Business model

We will earn revenue from in-app content marketing through AI powered Channels for influencers, brands and enterprises. Brands and organizations will be able to do content marketing on monthly subscription basis. We will charge $20/mont from individuals and service providers, $50/month from Small businesses and $100/month from Brands and Enterprises.

Money will be spent on

45% on Operation, 25% on Marketing, 10% on Hiring, 10% on Product R&D and 10% on Legal and Miscellaneous.

Offer for investor

20% Equity at $2.5 Million Pre-Money Valuation.

Risks

Timing for entry in market is crucial to take unfair advantage.

Incubation/Acceleration programs accomplishment

Silicon Valley's GSVLabs is our Incubator. We are also Member of Nvidia Inception Accelerator Program and Plug and Play Tech Center.

Won the competition and other awards

We got featured among Top 100 Startups at Startup Istanbul, Got Honorable Mention at Family Office Funding Challenge and became Finalist at Pepperdine University's Most Fundable Companies Competition.

Invention/Patent

We are filing patent for our innovation. We have already got copyrights for our code and innovation.

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Photo 1 - TownChat will create seamless travel experience for tourists

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video