Fwd: Growth capital for ARROE -- the CX platform for battery powered products
Ward Hills
This was sent to me unsolicited.
I am curious what the Office Hours Group thinks of the
opportunity. We have all either prepared or reviewed investment
proposals is this a good one or not. Why? What are the criterial
on which we are making a decision? What are the risks?
Might be a good discussion.
- Ward
-------- Forwarded Message --------
| Subject: | Growth capital for ARROE -- the CX platform for battery powered products |
|---|---|
| Date: | Wed, 27 Oct 2021 01:49:09 -0700 |
| From: | Randolph Manderstam <rand...@arroe.com> |
| To: | W Hills <w.h...@jbs.cam.ac.uk> |
Dear
Ward,
I hope all is well.
I am contacting you about our startup ARROE.
We are augmenting the user experience for battery powered products using real time data collection and remote diagnostics.
Working with Sunnybag to integrate their products onto our platform (SaaS). In negotiations with other companies about licensing our software including Best Buy and Faurecia.
3,000 MAUs of our consumer facing apps for iOS, Android, macOS, Windows, Wear OS, watchOS. The data insights gathered from our software can be sold to advertisers.
$250k in sales (1,500 units sold) for our Smart Charging System (hardware) that runs on our software which we are selling in the US via our website and Amazon (D2C), Best Buy (B2C) and Ingram Micro (B2B). We just launched in 125 Best Buy stores across the US this week.
£835k committed to our funding round. We are raising £1.5m at a £5m pre money valuation and are backed by Loyal VC and the COO of Lenovo. Our round closes on the 10th of December.
Funds raised will be used to grow our SaaS business as this is where we see the highest growth potential. We have EIS tax relief available for UK investors and the minimum investment size we are taking is £25k.
I have attached our short engagement deck. If you are interested to know more please let me know and I can send you our full pitch deck.
Kind regards,
Randolph
