MOGEES — here we are.
I’m a Mogees investor and I love this startup.
Mogees is a London-based technology company whose objective is to disrupt the relationship between people and physical objects through technology.
Mogees now has two consumer products in the market.
Mogees PRO targets professional and amateur musicians and includes the Mogees sensor and an app for mobiles and computers.
It was launched in Nov 2015 and has generated £500k in revenues so far with close to zero marketing budget. 8.000+ units have been sold, mainly to specialised music distributors and retailers and retails a list price of $129.
Our second product is called Mogees PLAY and targets lifestyle gamers as well as edutainment. It includes three music games, see video teaser here.
Demand for educational use has already been demonstrated by winning a EU funded project in which Mogees will be used in schools across six different countries from February for three years.
The distribution of this product across mainstream games and consumer electronic channels will give Mogees the brand awareness necessary to promote its platform and create an ecosystem of developers who build applications using Mogees’ unique machine learning technology.
Opportunity of investment
Mogees is looking to raise up to £1,5M via shares issued at pre-money valuation of £2.9M.
You can see how is going on AngelsDan
The round is led by a group of high profile serial investors including:
- Two former CEOs of EMI music: Elio Leoni Sceti and Sir Eric Nicoli.
- The CEO of Coty: Camillo Pane;
- Haim Perry, founder of hotels4u.com — board member of Thomas Cook and early investor in Corephotonics (Samsung is a 10% investor), Centtrip, Yakatak, Invision Biometric (sold to Intel) and many others.
Our patent-pending technology allows anyone to transform ordinary physical objects into ‘smart’ ones through the power of machine learning and a vibration sensor. Our algorythm analyses vibrations generated by interacting with the object and converts them into unique fingerprints about the way a gesture has been performed. This information can then be used to generate multiple outputs such as sounds and images or to trigger actions.
Our points of strength include the extremely low hardware manufacturing cost and the indiscernible latency of the machine-learning algorithm (< 3ms).
Our unique technology is therefore scalable across different verticals. Extended applications include smart toys, VR/AR interfaces, Internet of Things, home automation and security.
Use of funds
The funds raised will be used to sustain the business until the next phase of the company: Series A to scale or exit.
Funds will be spent to produce a wireless version of the product (which will open doors to gaming consoles and game publishers), the development of an API and more game content, marketing and production to launch the product in mainstream channels including Steam, the largest online game platform (100M+ monthly users).