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A personal exoskeleton by Benedics

Project No: #18713
Capital needed
EUR 2,500,000
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Minimum investment per investor: 50000
Country: Norway
Reason for needing Capital: Working Capital
Stage: Pre-Startup
Ideal Investor Role: Equity partner
Highlights: *Innovative exoskeleton device, pioneering in the market.
*After-sales services.
*$300mln market in Norway.
*Several side products to be launched before the main product.
What you offer to investors?: 10% of equity for €2,500,000 (two and a half million Euro).

We are an European company located in Kristiansand, Norway.

Benedics specialises in development and sale of automatized, robotized devices intended for the general consumer audience. 

We are a high ambitions team, well oriented in the market trends, and we aim to be a well recognizable hi-tec company with products for the general consumer market, not for scientists or engineering geeks. Our products are a combination of Tech, MedTech, Mobile, IT and Consumer Electronics. This specific combination is something that noone has done before for such devices and the market audience we focus on.

We have a project ongoing (wearable technology) with several side products and after-sales services. By achieving each consecutive milestone from our project plan, we will have side products with great potential to be launched separately in order to make profits earlier.

Our business case studies give us strong reasones to proceed, being sure that the competitors do not have the same solutions to solve the problem as we thoroughly planned it.

The mobile technologies and online services play significant role in our business and are related directly to our products. Plenty of room to grow with several products to be launched individually. They are expected to contribute significantly to the company's growth and profitability.

Our focus is the general consumer market globally, with a simple business model: pay per unit + subscriptions (revenue model: retail, e-tail, subscriptions).

In the age of humanoid robots, there is a large market of people, especially in elderly or anybody after injuries or long hospitalization. Some of our products are addressed to both: households and industry.

This is actually entering the new, unsaturated market, where the competitors focus on a very tight audience (0.1% of population).

In our case, the target market is of other order of magnitude.

The whole competition have duplicated each other for nearly 20 years. All the devices, patents, publications or even  academic research being conducted are based on the same principles and assumptions which were elaborated during early 80's for absolutely and totally different purposes.

Due to plenty of technical assumptions, different from ours, the competitors cannot scale their production and they would need to start from sketches if they would like to go our path. This practically means another years of R&D since our technical solutions will be registered and protected by that time.

We have identified the competition, including start-ups and the alternatives that the customer use currently. Hence,  our strategy of how to seize the market share is thought out reasonably.

We have critical components for our device already designed and we are going to move it forward in terms of applying for intellectual property rights, including patents and trademarks registration.

The research on the subject is already behind us and we know exactly what is the edge in our case. Taking into account the present devices and patents, we have strong arguments, that the competition would need to start from sketches if they would like to go the way we have already been following for some years. Hence, our business plan is ready.

The pictures and advantages over competition can be presented upon request during further discussions. We do not want to show it everywhere at the beginning to people not involved in this venture.

Our functional model will be ready within 19 months in order to work directly on a prototype of the device and to work on our side products to have some of them ready for commercialisation within 2 years.

The total amount of funding ensures the development of prototype for the whole duration of the project, until it is ready for commercialisation. No dead money for academic research.

The competitors practically are limited with their offer and distribution to healthcare institutions only, where the patients (potential users) are the ones with all restrictions and limitations in terms of fitting the device. No customization, no possibility to scale the production, no possibility to redesigning the device or to easily reposition the whole company with the same products. Something totally in opposition to what we offer.

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