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Baulogic

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The simple smart home control system set to make new homes intelligent and energy efficient

101%
 - 
Funded 31 Jan 2024
£600,003 target
£611,284 from 166 investors
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Business overview

Location London, United Kingdom
Social media
Website www.baulogic.com/
Sectors Energy Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11908711
Incorporation date 27 Mar 2019
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Investment summary

Type Equity
Valuation (pre-money) £18.5M
Equity offered 3.20%
Tax relief

EIS

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Business highlights

  • Proven founders with two successful exits
  • £1.2m invested to develop software and product
  • Recurring revenue through SaaS model
  • Growing demand from builders & developers
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Key features

  • Secondary Market
  • Nominee investment min. £16.42 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

We all hear that smart homes are the future with technologies that can control all aspects of our homes with the touch of a button. But the reality is eclipsed by the perceived cost and complexities in installation. We believe that home automation can revolutionise the way we live - improving quality of life and creating a new generation of greener, more efficient homes.

Our founders have firsthand experience in property development and management and understand the complexities of installing tech into larger scale developments. That’s why Baulogic developed a simple smart home control system with the aim of providing a more affordable, easy to install alternative that addresses the urgent need to save energy. With the funds raised in this round we intend to roll out a hard-wired home control product on a mass scale, something never before achieved in this market.

Our mission is to make all homes intelligent and energy efficient using smart home controls and energy data. We aim to make the green tech revolution accessible for all. Join us on our journey.

Substantial accomplishments to date

· £1.2m invested so far to develop our own front and backend software, layered on top of a KNX standard, enabling best-in-category functionality. Users have access via iOS and Android phones.

· Evolved product design and working with an electronics factory to manufacture product at scale.

· Launched new simple smart home system into the market and embarked on marketing campaign aimed at self-builders and developers. Early traction proved the value and quality of our system.

· First client installation completed in a 3-bed home in Leicester in April 2021. On 'go-live' day the pre-programmed switches and smart boxes are delivered it can take a matter of hours to install.

· Winner of best home technology product or installation at Build It Awards 2020. Shortlisted subsequently in 2022 & 2023, and shortlisted in Proptech Innovation category at Property Management Awards 2022.

· Leased studio space in London for sales meetings, tech demos and hosted roundtable series attended by industry leaders on green tech, building trends, the power of data and emerging trends in the residential living sector.

· Continued building the team with key appointments in sales, operations and marketing.

· First major London apartment installation completed in Dec 2022.

· First client installation focused on assisted living completed in Jan 2023.

· New office and client fulfilment space opened in Northants in Oct 2023.

· Secured third multiple-property deal with regional developer in Cambridge in Oct 2023.

Monetisation strategy

To date, we have proven the value and quality of our system with self-builders and regional developers. Now we intend to accelerate our growth by targeting higher volume sales from private new build developments, the residential living sector and the supply and refurbishment of social housing.

We're on a mission to roll-out a hardwired home control product on a mass scale - something never achieved before in this market.

We're building the Baulogic system with a view to becoming a standard inclusion in new build homes and apartments.

SUBSCRIPTIONS: As installations complete, this will generate greater SaaS revenue. We will look to offer various subscription packages including support, video cloud storage and software updates, for example, responding to dynamic energy tariffs.

DATA: As user numbers increase, we will utilise the aggregation of anonymised energy data to provide unique data insights on building trends and energy consumption, with the potential for significant future revenue.

Use of proceeds

SALES: Scale sales team and drive engagement with regional developers and national housebuilders. Evolve a structured sales force to efficiently tender and specify. Focus on residential living sector, later living, co-living and student developments.

R&D: Focus on a new iteration of hardware aimed at the apartment sector with a smaller form factor and targeted functionality enabling delivery at a lower cost per unit. Extend software platform to give functionality to building operators/managers, leveraging data for enhanced energy management and supporting ESG reporting.

MARKETING: Create hard-hitting marketing campaigns to raise awareness with key target audiences in conjunction with building the sales pipeline.

OPERATIONS: Support with increase in staff numbers and client fulfilment spaces.

ADOPTION OF AI: Further evolution of AI to streamline the specification and quoting process and introduce to the customer support function.

NEW SECTORS/LOCATIONS: Alongside the above, we will also look to review opportunities within other sectors, including retail, hotels and international expansion outside the UK for all our products.

Key Information

Founder Interests:

Co-founders Neil Robinson and Stephen Chard have been working together in the property space for over 25 years, and have previously founded and sold companies together.

As a result of this, both founders have multiple shareholdings and directorships in other companies as ongoing investments. None of these companies have daily operations and therefore no daily management is required. Stephen and Neil are dedicated full-time to working on Baulogic.

Founder Ownership:

Alongside their direct shareholding, co-founders Neil Robinson & Stephen Chard also hold shares in Baulogic Holdings Ltd through another company, Aparthotels Limited, a company owned 50:50 between the two founders.

Prior to this round, both Stephen and Neil hold 26.5% of the company each directly, with a further 15.6% each indirectly through Aparthotels Limited.

Material Debt:

The company has the following material debt:

1. £175,418.64 loan from Chard Robinson Limited, a company owned by the founders Neil Robinson & Stephen Chard, at an interest rate of 7.25%. The loan was entered into in July 2023 and is to be repaid by March 2029.

The funds raised from this investment round will not be used to repay these loans.

Corporate Structure:

Investors in this round are investing into and will become shareholders of Baulogic Holdings Ltd, 11908711. This is the holding company for the group. Beneath this,there is one wholly owned subsidiary, Baulogic UK Ltd, 12114104.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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This campaign for Baulogic has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 24 November 2023 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 £18,498,279

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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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Direct investment

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Business Involvement

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