- Investment sought:
- Equity offered:
**Please note that Den has just completed a round of funding on Seedrs for £150,000 which was SEIS eligible. Because the maximum amount that can be raised under the SEIS scheme is £150,000, Den has now launched this new campaign which is EIS eligible to enable those investors who missed out to participate if they so wish. The price per share of both the SEIS and EIS campaign are exactly the same, so the only difference is the SEIS v EIS eligibility.**
Light switches and plug sockets have been around for over 100 years, yet regardless of the huge progression in technology in the recent years, they have been unmodified. They haven't taken advantage of modern tech, and are consequently extremely dated.
We aim to reinvent and replace the existing standard of light switches and plug sockets, by creating a new, smarter, and more efficient standard, to be installed in all new builds globally.
As you can see below, our products look identical to standard switches, they can still be controlled by hand, in the exact same way you would with an ordinary switch. However, they can also be remotely controlled via a range of remotes, sensors, and a smartphone app - in ways that reduce energy consumption, add convenience, and create a safer environment. See examples of uses below.
Reducing energy consumption
In the UK alone this energy wastage equates to nearly 16% of the nation’s energy bill, in simple terms we’re wasting £1.3 billion in energy every year, which is enough to power almost 2.5 million homes.
- Turn off all your lights and appliances from the touch of one button, before leaving the home unoccupied, or before going to sleep, saving you money.
- You could connect up an energy efficient occupancy sensor to our switches within seconds, no need for re-wiring; meaning your lights will only be on when they need to be.
- We are developing our switches to automatically flick themselves off when they detect an appliance has been left in the standby mode.
Adding convenience to your life
- You could turn off your light switch from your bed via your smartphone.
- When your smartphone alarm sounds in the morning, Den could automatically flick on your bedroom light.
- You could monitor the amount of energy your home is consuming, in real time, making sure no energy is being wasted.
- You could limit the number of hours a games console will be powered via our plug sockets, by setting cut of times (e.g. 9pm) or daily usage (e.g. 2 hours per day).
Creating a safer environment
- Next time your child stumbles out of bed in the middle of the night on their way to the toilet, Den’s occupancy sensor would automatically activate your lights to keep them safe.
- Elderly/disabled could control their light switches and plug sockets remotely, consequently reducing the amount of movement required.
- You could cut off power of low-level plug sockets to prevent the little ones getting shocks if they stick objects inside.
- You could turn on your lights while on holiday, giving off the impression your home is occupied to help prevent burglaries.
- We plan to develop our plug sockets to communicate with the plugs inserted, feeding back information relating to the exact appliance being used. E.g. iPhone charger was used for 57 minutes on Monday morning in France, consuming 43.8w of energy - useful for the consumer and for us as a business, and valuable for manufactures of the appliances.
- You could monitor the amount of energy that's being used within your home from each individual socket - useful for splitting the bill shared accommodation.
Substantial accomplishments to date
- We have been working with some of the best engineers and designers in the world to design/develop our products to create many prototypes to test the functionality, both from a mechanical and electronic point of view.
- We currently have a patent pending on our unique switching mechanism.
- We are in talks with British Gas, with whom we are currently discussing a UK partnership to integrate our products into their existing connected home product, Hive, which has been installed into over 150,000 homes in the UK.
- We have received international publicity from Bloomberg TV, Sky News, BBC Radio, TechCrunch, Mirror, The Times Newspaper, Kent Online, and lots of other platforms.
- Julian Nebreda, the Vice President of a multi billion pound global energy provider invested in Den, bringing with him his huge amount of knowledge and global customer outreach.
- We're currently in talks with Berkeley Homes, one of the UK's largest homebuilders.
- As a manufacturing business we would generate revenues by selling our hardware (physical products).
We aim to supply our products at the prices shown below - please note, wholesale prices will be cheaper.
– 1 gang light switch - £8.99
– Single plug socket - £9.99
– Double plug socket - £15.99
– Occupancy Sensors - £24.99
– Remotes – Range from £11.99 to £24.99
– WiFi Hub - £59.99. Required for our app to work with our switches.
– iOS & Android Application – FREE
- Long term; we plan to generate additional revenues by monetising the data that our products will be capturing via our App. (Google acquired Nest, the smart thermostat for $3.2b; one of the main reasons for this was due to the data that could be captured from their thermostat).
Use of proceeds
(Please note. Earlier this month, we already raised £150,000 on Seedrs)
The focus will be to complete the development of our product range. British Gas, one of UK's largest energy providers have asked us to provide our products for testing, however we require further development before handing them over were we to be approved by them.
- We will be growing our team to complete the development of our hardware (switches, remotes, and sensors) and software (iOS, Android app, and web app) - allowing us to then begin the manufacturing stages.
- Completing the development would provide us version no.1 of the product range, ready to manufacture and distribute. This would allowing us to hand over to British Gas for testing, along with selling the products (as we will have the finished range + confirmed unit costs). Thus we could get initial orders in writing from homebuilders, distributors, and retailers.
1) New homes and other new buildings being built every year, globally.
- Every year, millions of new homes and other buildings are built, all which require light switches and plug sockets in order to be habitable.
2) Existing homes and buildings seeking smart/efficient light switches and plug sockets, globally.
- Existing homes, businesses, office blocks, care homes, schools/universities, and other buildings seeking smarter and more efficient light switches and plug sockets, to benefit from, a reduction in energy consumption, a safer environment, and other benefits. This is already a proven market with a large and growing demand for connected/automated technology.
Characteristics of target market
1) New homes and buildings.
- Over 1+ million new homes are being built every year in UK and USA + hundreds of thousands in the rest of the world. In the UK, a government report shows ground was broken for 133,650 new homes during 2014. In the USA, a government report shows homebuilders broke ground for 917,000 new homes. There's no doubt the demand for new homes will exist for many years to come.
2) Existing demand for connected/automated systems.
- This is already a proven market, which is growing rapidly - The market is currently valued at around £6 billion and is expected to reach £27 billion by 2017, meaning there's a huge opportunity.
- Industry experts predict around 11% of the 25 million UK homes will be ‘smart’ in some capacity by the turn of 2015. There is currently a huge demand for smart home tech.
Our plan is:
- Supplying directly to the major homebuilders. E.g. Taylor Wimpey, Berkeley Homes, Crest Nicholson, Red Row.
- Supplying to distributors, wholesalers and retailers, for small homebuilders and end consumers to purchase from.
- Working with strategic partners (E.g. British Gas, EON Energy, Virgin Media) who have existing customers bases along with the infrastructure already in place to market and instal the products. We are currently discussing a partnership with British Gas, one of UK's largest energy provider in the UK.
- Supplying directly to consumers via our own e-commerce website.
Our Competition - The wide range of wireless light switches and home automation systems currently on the market.
- They are extremely expensive (some systems which can cost up to £20,000), and we feel they are also extremely complicated to use - Not suitable for the mass market.
- Rather than replacing the existing standard of light switches and plug sockets, these wireless light switches and home automation systems seem simply a luxury alternative. Consequently, all new homes are still being kitted out with standard non-wireless light switches and plug sockets.
- These products have taken away the rocker switch which we are familiar with flicking on and off, all around the world; which have been replaced with the likes of touch pads and buttons, which we believe seems not suitable for new builds/mass market due to the unfamiliarity.
Our Products - At Den we have a range of products perfectly suited for the mass market.
- Instead of creating another luxury alternative, we aim to reinvent the standard light switch and plug socket, by creating a new, smarter and more efficient standard.
- Our products would be sold at a very competitive price, and are extremely simple to use.
- Unlike most of our competition, you could continue flicking our switches on and off by hand just like you would an ordinary switch (which is the key to a mass market solution), with the added choice of being able to control them remotely in smart and efficient ways. We have a patent pending on our unique switching mechanism.
- Our products won’t require any complicated installation, you could have swapped your switch, synced with a remote, and be controlling in just a few minutes.