New investment round for fastest crowdfunded startup KiGO | #Crowdfundclub
In 2014 KiGO (former Kidswatcher) managed to reach it’s Crowdfunding goal of 185k in a record time of 48 hours via Symbid. We are very curious to hear where they are now. What progress has been made, and what are the plans for the future? We interviewed the team to get their view on this, and also to hear the plans for a new crowdfunding campaign they will start soon at Symbid.
The name change First some explanation on the name to prevent confusion. Symbid investors remember this idea by the name of the earlier campaign: Kidswatcher (See earlier successful campaign), part of Watcher Enterprises. This was the working title of the project, and now that the product is ready for the market it is named KiGO. Still the same team, and same project.
A quick refreshment for the investors, who are you and what does your company do? We are Watcher Enterprises and we have built a localization platform allowing us to connect various in-house developed locators. The first product we have launched was the alarm for elderly people named the “Vlinder” (Dutch for butterfly). Now it’s time for the KiGO, the most reliable GPS-watch which gives parents the opportunity to track their children.
You have changed the name from Kidswatcher to KiGO, why? We noticed that in Asia the name Kidswatcher was difficult to pronounce so we came up with KiGO, an active name that gives the brand a new fresh face.
What did you achieve since your previous crowdfunding campaign? With the funding from our first 2 successful crowdfunding campaigns we have financed the development of our platform and the products.
Are you on schedule of the plan you have shared with the investors before? Developing KiGO wasn’t an easy process. No wonder that so far no other company managed to develop a watch with comparable features. To guarantee the highest quality and reliability standards we had to give it all we got. The watch is waterproof and communicates on almost every network worldwide. We are very proud that we managed to do so, and that the KiGO is now ready to be launched.
What are the most important milestones you have reached? 1. We have finished our platform to which all the locators can be connected. Both the front-end and the back-end are ready; 2. The introduction of the Loox app, the smart tracking app for families 3. The introduction of “Vlinder”, the mobile locator for active elderly people. 4. KiGO is ready to be launched into the global market. There are a few challenges we will be able to solve with the investment from the next crowdfunding campaign.
What have been the major learnings from the last couple of months First of all, it’s important to be able to control the entire development process. With a strong team this is definitely feasible. Secondly, in some cases it is good to make a pivot to the plan you have. We used the same techniques we developed for KiGO for a product in a completely different market. That is “vlinder”.
What are the most important things you are working on now? Now that the KiGO is market ready we focus on optimizing the production process. In addition, to increase our reach into the market, we are setting up partnerships for distribution and sales of our products globally.
What is planned for the coming 6 months? For the KiGO we will continue to optimize the production process and further expand the international distribution. For the “Vlinder” we are working on introducing an international B2B model in professional healthcare.
What do you want to say to the people who invested in your crowdfunding campaign before? You have invested in a company that develops products for the global market. Demand for KiGO, but also for our other products, is enormous. On a daily basis we receive many requests from all over the world. The importance of securtiy and protection topics for children and elderly people is growing fast. Therefore we are very confident we will be able to deliver a very interesting ROI both for the people who invested already and the people who will be investing in our next crowdfunding campaign
KiGO will soon start a new equity crowdfunding campaign via Symbid. Are you interested? Register for our newsletter and we will let you know once the campaign is open for investing