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nuumi

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Intelligent quit smoking solution that unlocks the scientifically proven power of electronic cigarettes

107%
 - 
Funded 26 Feb 2024
€280,000 target
€301,820 from 158 investors
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Business overview

Location Berlin, Germany
Social media
Website www.nuumi.de/
Sectors Healthcare Digital Mixed B2B/B2C
Company number HRB213078B
Incorporation date 19 Oct 2019
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Investment summary

Type Convertible
Discount 25%
Tax relief N/A
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Business highlights

  • Positive MoM user growth since launch in July 2023
  • Experienced founding team with previous exit
  • Research team led by visiting Harvard Professor
  • Secured up to €1.6m in government funding
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Key features

  • Secondary Market
  • Nominee investment min. €10.00 +
  • Direct investment min. €25,000.00 +

Learn more about convertible campaigns.

Idea

Introduction

Nuumi is a consumer health tech company on a mission to empower humanity to conquer addictions. Starting with smoking, we aim to solve the no. 1 cause of preventable death by transforming the lives of over one billion smokers for good.

With an overwhelming desire to quit among smokers and a staggering 90% failure rate in quitting attempts, nuumi has unlocked the scientifically proven power of electronic cigarettes and developed a new category defining smoking cessation solution.

Nuumi integrates a smart vaporiser for nicotine cessation with an app-based behavioural therapy and AI coaching. By treating both physical and psychological aspects of cigarette dependence, nuumi helps smokers quit without common withdrawal symptoms and relapse*, overcoming drawbacks of traditional methods.

Don't miss the chance to be part of this revolutionary mission to empower millions of smokers to kick the habit and embrace a healthier future with nuumi.

*based on data from our Beta users

Substantial accomplishments to date

Successfully developed, licensed (EU) and launched a new category-defining hardware/software product in Germany.

Since our launch in July 2023, we are now revenue generating with positive MOM user growth.

nuumi proved to be 3-5x more effective than common nicotine replacement products at quitting smoking in our beta tests.

Successful registration and approval to conduct the first clinical trial, which will start in October 2023.

Established an exceptional science team led by our Co-Founder, a former visiting Harvard Medical School professor, a postdoctoral researcher specialising in e-cigarette research for smoking cessation, and a psychologist.

Secured €1.6m in government funding from the European Union and Investitionsbank Berlin for our social impact and innovative approach developing an AI-based smoking cessation intervention.

Backed by successful entrepreneurs such as Katharina Jünger (exit Teleclinic), Michael Sonderby (MD & Partner BCG Digital Ventures), Dr. Özbek and Bartosz Reinhold (exit Scopis Medical) and Alf Arnold (2021 finalist best business angel in Germany).

Secured an equity-based hardware product development partnership with a leading vaporiser manufacturer to ensure manufacturing scalability. We are currently developing V2 of the nuumi-vaporizer which we aim to launch in in Q2 2024.

Monetisation strategy

We charge a one-time fee of 69.90€ for the vaporiser and a monthly subscription starting from 49€ for the program (nicotine pods and app). The vaporiser can only be purchased together with a subscription. The program price is at least 15% cheaper compared to a smoker’s usual cigarette consumption (in Germany). After program completion, a relapse prevention program is offered via the app for 99€ per year (planned for Q2/2024).

Channel 1: D2C sales via online store
• Customers can choose to pay monthly or purchase the full program for 4 months, benefiting from a 30% discount. Current avg. order value is 390€.

Phase 2: B2B2C non-medical
• Cooperation with companies to establish employee smoking cessation programs. We are currently in final discussions with a large organisation to conduct a first pilot with 100-200 participants.

Phase 3: B2B2C medical (planned for 2025)
• Once our app-based behaviour change therapy is certified as a medical device and listed as a digital health application (DiGA) in Germany, the app can be prescribed by doctors and we estimate that up to €250 can be covered by German statutory health insurance.

Use of proceeds

In preparation for our seed round in 2024, investment from our crowdfunding round will be used predominantly in three key areas:

GO TO MARKET:
• Marketing activities to drive online sales until our next funding round
• Product launch in the UK

PRODUCT & TECH:
• Production of stock (vaporiser and pods)
• Continuing releases of new product features and development of our machine learning technology to coach smokers even better

CLINICAL STUDY:
• Completion of a first clinical trial to validate the quit rate of the nuumi program compared to current gold standard therapy quit rates (planned for Q2/2024)

Head to this URL for a Nuumi App Review by Health Canal:
https://www.healthcanal.com/health/nuumi-reviews

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key Information

Convertible Loan Agreement

This investment round is being raised by way of a convertible investment structure, in this case a “convertible loan agreement”.

The key terms that apply to the Company’s convertible loan agreement are set out in the CLA Key Terms document in the Documents tab of the campaign.

This convertible differs in a few key ways from Seedrs standard convertible instrument, so please read this carefully.

Share Classes

The company currently has two share classes, Ordinary Shares and Series Seed Shares.

Series Seed Shares shares have the same rights allotted to Ordinary shares, as well as additional rights including 1x non participating liquidation preference, and anti-dilution protection.

Investors in this round will receive the highest class of share in issue at the time of conversion.

Outstanding Debt

The company has two outstanding loans from Investitions Bank Berlin in collaboration with the EU, through the European Regional Development Fund (ERDF).

1. A loan of €300,000 with 3.3% Interest
2. A loan of €560,000 with 6.05% Interest

These loans are due to be repaid on a monthly basis from the 31st March 2025, with the final repayment due on 31st December 2029.

Direct Investment

€220,000 of the direct investment reflected into this campaign was received by the company between the 22/05/23 and 31/07/23.

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

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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

Only shareholders can access this page

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

Buy shares

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 nuumi has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 16 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 Convertible

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.

Pitch type

Investing in a convertible campaign allows you to invest today, with your investment converting into equity in the future, at a discount compared to other investors.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

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).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the 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.

Learn more about Custodian here

Secondary market

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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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

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

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

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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