The company is a Danish camera manufacturer specialized in 360° technologies for professional video and photo recordings. We entered the market in December 2017 and sold cameras for 50.000€ within six weeks in five countries. Next to 360° cameras, we offer cloud-based processing and expect +30% profit for each sold camera per year.
This Springboard will be held in English / Dette Springboard vil blive afholdt på engelsk
The company and mission
The company is creating the infrastructure for the media of tomorrow.
We create a new 360° media value chain that allows direct peer-to-peer-to-peer transactions, while providing all the tools and infrastructure to enable content producers to sell their videos and photos directly to their audiences and to collaborate with third party companies remotely.
Product / service
Camera sales are on the decline while the market for 360° technologies is expected to become 100x bigger until 2024. It is hence not a question when VR will go mainstream – but what is needed to get it there?
It requires a significant infrastructure push to make productions easier but also consumption. Holistically seen, it requires completely new infrastructure architecture. In addition to this, the medium requires a large amount of manual labour.
The company is solving exactly these problems from scratch, and is the only 360° technology company in the world that connects all elements into one easy-to-use package. We offer high-end 360° cameras and a cloud infrastructure with a high level of automation for processing, hosting, collaborating, and broadcasting.
Our business model is simple and creates a strong customer lock-in.
A camera sells for 3000€ plus VAT and we generate a second additional revenue for cloud-based services like processing and broadcasting. That means each sold unit will generate an additional annual profit of around 30%.
Since all data processing is through a cloud-based system architecture, the model can be extended through further software-based services and third-party integration offers with low R&D expenditures and follow-up costs, enabling us to enter new markets like AI, AR, and customer-centric data extremely aggressively.
Our cameras are aimed at a professional segment of B2B customers
And are optimal for
- education, and
Typical customers for our system are
- video producers, but also
- And in the future also media stations, and industrial companies in for instance real estate
Insta360 Pro - https://www.insta360.com/product/insta360-pro
Kandao - http://kandaovr.com/
Zcam S1 - http://www.z-cam.com/
Become the #1 technology infrastructure provider and marketplace for 360° media.
Growth potential / goals
Selling 400-600 units by the end of 2018. Selling up to 20.000 units worldwide by 2022.
- Shipping a first batch of units in April
- Automating the marketing-sales-production-transportation process chain
- Accessing retail channel distribution possibilities
Scalability potential (first steps)
- Optimizing cloud architecture (until summer 2018)
- Opening it for people who use other 360° cameras
- Completing development of a second camera product
A, CEO: MSc Marketing Communication | 5y entrepreneurial experience
B, CTO: MSc Mechanical Engineering | 5y mechatronics experience
C, Hardware Engineer: MSc Electronic Engineering | Student w. top grades
D, Software Architect: DSP & computer vision | 20y experience in algorithm development
E, Digital Marketing: 5y digital marketing experience | SMM & lead generation
F, Visuals & Design: MSc Design & Innovation, 3y exp in 360° video production
Board of Directors
Chairman of the Board is an Investment Director at a pre-seed venture capital investor.
The company is currently in the process of identifying profiles to join the Board.
The recent success of our pre-sale campaign (30% discount) has shown us the right recipe for success to sell. We sold 20 units into five countries. We are in the middle of the next campaign to generate leads (15% discount) and have gained requests from +10 EU countries. We invested 600,000 DKK to get there.
We are looking for team members that help us to optimize our sales funnel and make us ready to scale over the next few months.
The hardware will be completed and ready for shipment end-March. Throughout the next coming months, we will further iterate on all software-based building blocks to achieve an effective and reliable system by summer 2018.
Our next workpackages comprise everything that is related to:
a)setting up and automating our processes, as described;
b)making sure the right steps are done to internationalize the product;
c)to raise the necessary funds; and
d)to commence a further R&D project of a 360° drone that we will execute with sub-contractors to an extent of 80%.
Questions for the panel
- Which distribution channels are the most relevant to the company (retail, direct sales, online, Amazon, other)?
- What other development opportunities may accelerate the business while keeping investment of resources at a minimum?
- How do we gear and structure the organization most efficiently?