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AirSensa

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Providing hyperlocalised air pollution data allowing cities to make informed life-saving decisions.

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Funded 10 Aug 2020
£675,001 target
£763,890 from 0 investors
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Business overview

Location Southampton, United Kingdom
Social media
Website www.airsensa.com
Sectors Data & Analytics Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10858151
Incorporation date 10 Jul 2017
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Investment summary

Type Equity
Valuation (pre-money) £21.7M
Equity offered 3.01%
Tax relief

EIS

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Business highlights

  • Proprietary globally-scalable cloud platform (STORRM)
  • Exemplars operating in Manchester and Jersey
  • Covid-19 recovered patient app in development
  • Experienced investor group and advisory council
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Key features

  • Secondary Market
  • Nominee investment min. £12.78 +
  • Idea
  • Key information
  • Team
  • Updates
  • Investors 0
  • Discussion
  • Documents

Idea

Introduction

The World Health Organisation (WHO) estimates that 7 million die prematurely every year because of air pollution, and according to the World Bank, it costs the global economy more than $5 trillion annually in social & welfare costs, including $225 billion in lost income alone.

Airsensa is creating a big data platform with a hyperlocal and real-time monitoring capability to help cities and individuals make informed decisions on the basis of AI and machine learning analysis. We have completed two successful projects in Manchester and Jersey which proved our model.

Intended impact

Air pollution is like a cancer on society, causing hundreds of thousands of deaths across Europe every year and preying on the most vulnerable. We have a unique approach to tackling it, because the solution starts with having better data - and we’ve proven our approach over the past several years. Better data can help city authorities to make effective interventions, help businesses to improve operations, and help citizens avoid the worst of pollution as they move around.

Our technology is also useful to understand the ramifications of the coronavirus. Medical research shows that people that are exposed to even tiny increases in air pollution may have a much higher chance of dying from Covid-19, and those that recover may be more vulnerable to air pollution because of damage to their lungs.

Millions of people across Europe may, therefore, become much more vulnerable to post-Covid complications. It is vital that we provide hyperlocal, real-time information to those people as well as the existing vulnerable groups - asthmatics, heart disease patients, the elderly, and those with young children.

After the pandemic, we will, therefore, need to redouble our efforts on pollution, but also on climate change. Over 60% of city pollution contributes to climate change; deeper and higher quality data and insights will help provide the products and solutions that will reduce it.

Substantial accomplishments to date

- Developed and tested the STORRM platform, and the knowhow needed to deploy the complete solution over a number of years.

- Ran a pilot in London which proved the value of hyperlocal and real-time data.

- Successful, continuous, and hyperlocal Manchester & Jersey exemplar projects proving the viability of the solution as well as the calibration system and capabilities of the in-house STORRM cloud platform.

- Covid-19 freemium app launching soon to aid research efforts & provide early revenue potential.

- Growing relationships in the USA, and the Middle East.

- Built a deployment strategy for rapid rollout working with corporate and channel partners such as the UN’s U4SSC program. Working closely with the UK Government's Department of International Trade, we secured a partnership with a major company in the GCC region, and have subsequently been invited to bid for a national monitoring solution for a significant country in the region.

Monetisation strategy

AirSensa’s backbone is the proprietary STORRM cloud software platform. STORRM delivers scalability, analytics, automation, event management, machine learning and security across the networks. This is technology that is unique to AirSensa.

Real-time, granular, and continuous external air pollution monitoring, initially in developed countries, is among the first very substantial IoT applications. Collecting validated commercial data on external air pollution will generate continually updating datasets of considerable value.

Proprietary data will be produced, analyzed, and delivered on local, national, and international scales. We plan to monetise this through Data Sales, Data Licensing Fees, Report Sales, Subscription Fees, and Ad Revenue through our freemium applications.

Use of proceeds

AirSensa is well placed to help deliver a better world. We need this investment to drive business development so that people understand what we have and why they should invest in our technology. In the next 12 months, we expect to be building out the business at very large scale, driven by a further capital injection from venture funds later in the year. This seed funding round enables us to get to that point.

Key information

Company structure

Investors in this round are investing into and will become shareholders of Airsensa Holdings Limited (10858151). This is the holding company for the group.

The group structure is as follows; all subsidiaries are wholly owned.

Airsensa Limited is the group operating company, contracting with third parties.

Airsensa Products Limited owns the intellectual property relating to the hardware.

Airsensa Research Limited owns the intellectual property relating to the software.

Airsensa Middle East Limited- a subsidiary of AirSensa Limited and set up to manage operations in the Middle East.

All are UK registered companies.

Operations and technology lab

AirSensa’s technical facilities are based in Southampton, which houses 6 FTEs working on current projects, calibration and sensor testing, and next generation products.

Deliver Change Limited asset transfer

Upon the formation of the AirSensa group in April 2018, AirSensa Holdings Limited acquired IP and assets necessary for Airsensa's business from Deliver Change Limited, a non-profit company limited by guarantee, for a deferred consideration of £250,000, which falls due for payment by April 2023. None of the funds raised in this investment round will be used to pay for any of the outstanding balance relating to the transfer. The CEO of Airsensa is the sole member of Deliver Change Ltd.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for AirSensa has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 21 May 2020 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £21,742,844

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

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Equity Offered

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When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

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Direct investment

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

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Security Token

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