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Zobi

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We're a technology company with a passion for creating products that put your privacy first.

296%
 - 
Funded 4 Dec 2020
£150,004 target
£511,386 from 918 investors
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Business overview

Location London, United Kingdom
Social media
Website zobi.ai
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 11335678
Incorporation date 30 Apr 2018
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Investment summary

Type Equity
Valuation (pre-money) £6.5M
Equity offered 6.40%
Tax relief

EIS

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Business highlights

  • Featured in Wired
  • Winner of European Product Design Award 2020
  • Won The Startup Series - UK's largest seed funding competition
  • Recognised by Google and KMPG as a top startup
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Key features

  • Secondary Market
  • Nominee investment min. £10.30 +

Idea

Introduction

Imagine a world where you could connect to any Wi-Fi without a password, without compromising on security.

How often are you at the back of the router, reading out the Wi-Fi password to visitors?

You are inadvertently exposing your privacy and personal data to untrusted devices.

Over 30% of smart devices have security vulnerabilities, with 15 billion personal data records sold on the dark web.

Our first device and app, Hedgehog is simple & secure

Features currently in development:

- Contactless Wi-Fi for guests. Tap and browse. No passwords

- Visitors have access for 24-hour per tap

- Your home or workplace Wi-Fi is isolated from visitors’ devices

- We anonymously monitor the Wi-Fi

- Learning what ’normal’ looks like for you

- Artificial Intelligence detects and blocks suspicious activity or devices

- Regular scans show you security holes and how to plug them

- Activity log gives visibility of what’s happening on your Wi-Fi

- The ability to reserve Internet bandwidth when you’re working from home

Substantial accomplishments to date

Our sales are growing quickly, spurred by the increase in people working from home. In only 6 months since graduating from the Founder Institute, the global tech accelerator, we have built a revenue-generating business model with an addressable market that is expanding more than 15% every year.

Across the UK and the USA alone, its estimated there are currently around 135 million connected homes and by 2025, the spending per year on smart home devices is said to be $160 billion.

We’ve been in initial discussion with some global technology companies who have expressed an interest to collaborate or come on board with us in the future

- Featured in Wired

- Won the European Product Design Award 2020

- Graduated Founder Institute silicon valley accelerator

- Selected by Google from 2,500 startups for Startup Grind Global conference

- Winners of Startup Series, the UK's largest seed funding competition

- Graduate of Cyber 101 funded by UK government

- Alumni of Hut Zero and Cyber101, UK funded cyber accelerators

- $120k of grants from Amazon and Google for their cloud services

- $25,000 worth of credits from Segment.io

- Invited to join KPMG as one of only 12 cyber startups for their expert arena and venture matching programme

- A community of 230 beta testers

- $30,000 of revenue in our first month of pre-orders

- IoT recognition technology for 14 billion devices

Monetisation strategy

We're creating a new category 'Home Intelligence' to protect your privacy and personal and sensitive data.

Including financial records, medical data, photos of your kids & corporate data.

Our ethos is ‘Always Secure’

We follow the government’s Secure By Design approach to IoT (Internet of Things) technology, using the world’s top ethical hackers to push us to our limits.

Zobi aims to become the must-have lifestyle brand for smart devices with privacy and cybersecurity protection at the core.

Our first product, Hedgehog is for consumers and businesses and will be sold under a subscription model with year one’s fees including the hardware.

- £149 to £199 in year one (different models)

- £49 each year after

We have different sales channels in the pipeline:

- Direct to customer

- Wholesale and retails

- Value Added Resellers

- An offline B2B offering

Our three-year goal is to license our software Intellectual Property to other hardware manufacturers as we shift towards a software-only company.

Use of proceeds

We are raising this round to help us in our mission to become the market leader with iconic and timeless designs that appeal to the masses.

We feel the market, especially smart home, is on the cusp of exponential growth and we want to be at the forefront with the best and most secure products and software.

The investment funds will enable us to:

- Hire partnerships and business development team

- Expand offering to other regions

- Prototype and develop new features

- Scale-up marketing and PR

- Recruit a senior CTO and Chair with relevant market sector experience

We have a solid five-year strategy building software IP for a wide-reaching audience.

Our first product, Hedgehog, is billed as 'Your home's digital guardian'

#homeintelligence

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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 Zobi has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 17 September 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 £6,510,527

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

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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).

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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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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

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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