Close

Jump to:

  • Navigation
  • Content
  • Footer

Den

Follow

We've built the next generation of light switches and plug sockets, for the world.

149%
 - 
Funded 22 Mar 2018
£750,001 target
£1,147,991 from 1,104 investors
More
Less

Business overview

Location London, United Kingdom
Social media
Website www.getden.co.uk
Sectors Home & Personal Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 08448361
Incorporation date 18 Mar 2013
More
Less

Investment summary

Type Equity
Valuation (pre-money) £14.2M
Equity offered 7.33%
Tax relief

EIS

  • Idea
  • Market
  • Team
  • Updates
  • Investors 1,104
  • Discussion
  • Documents

Idea

Introduction

Light switches and plug sockets have been around for over 100 years and have hardly changed since. They are extremely dated.

Although some wireless light switches and plug sockets do already exist, we've found they are all really complicated products that no one really understands how to use. Many of these have replaced the familiar rocker-switch with high-tech touch pads and buttons, making them complicated, unfamiliar and essentially not mass-market.

At Den, we're reinventing the light switch and plug socket, and we aim to wipe out the existing standard of switches around the world.

We're building products that we believe are far more intelligent than other wireless switches available, however as you can see in the photo above, our products still look and work in the exact same way an ordinary switch would - our products provide various benefits including energy saving, convenience, security and safety - see examples of use cases below (intended impact).

Intended impact

Leaving appliances on standby amounts for up to 16% of our energy bill. In the UK alone, we're wasting £1.3b in energy every year, which is enough to power almost 2.5 million homes.

- Turn off all your chosen lights and appliances before going to bed or leaving to go to work, with one simple tap.
- Monitor how much energy your lights and appliances are using in real time, making sure no energy is being wasted.
- Connect up an occupancy sensor to our switches within seconds, without the need of an electrician; so your lights will only be on when they need to be.

- Receive a notification next time you forget to turn your iron or hair straighteners off.
- Receive a notification if a loved one hasn’t been active for a worrying amount of time.
- Next time your child stumbles out of bed in the middle of the night on their way to the toilet, Den’s occupancy sensor will automatically activate your lights to keep them safe.
- Elderly/disabled can control their light switches and plug sockets remotely, reducing the amount of movement required.

- Your lights can automatically flick themselves on and off when you're away, giving off the impression your home is occupied to help prevent burglaries.
- If we detect activity or motion in the house while you're on holiday, we can send you a notification to let you know

- No more arguing over whose turn it is to turn off the light before bed
- You can reposition a switch that was previously in a hard-to-reach spot
- Works with Alexa: you can use voice to command the Den products

Substantial accomplishments to date

- We recently hired Bob Watkins as CEO. Bob was previously CEO at Amstrad where he worked alongside Alan Sugar for 25 years. While under his directorship, Amstrad generated £4b+ in revenue.

- We've commenced commercial discussions with some of the biggest retailers, homebuilders, distributors and energy companies in the UK including Argos, Amazon, Berkeley Homes, Taylor Wimpey, Crest Nicholson, Maplin, British Gas, BEW Electric and Smith Bros, YESSS Electrical, CEF, Electric Centre and many more.

- We have a Granted European Patent for our unique manual/remotely operable switch. Also granted in Saudi Arabia and pending in 9 other countries.

- After 2 years of development, we've completed development for our 11 products, we've developed a smartphone app for iOS and Android and we've developed our own cloud infrastructure - all in house from scratch.

- We've partnered with a manufacturing firm in China. We began producing tooling in December 2017, conducted our engineering pilot run in January 2018 & pre-production run in February 2018. Mass production is scheduled to begin in April with products expected to be available to the public early May 2018.

- We received investment from the YESSS Group. YESSS are a major electrical wholesaler with over 100 branches across the UK and 400 across Europe.

- To date we've raised £3m+ in funding via Seedrs, making Den the most overfunded campaign to exist on Seedrs and making our founder Yasser Khattak the youngest to raise funds on the platform

- We have received international publicity from the likes of Financial Times, Bloomberg TV, Sky News, BBC Radio, TechCrunch, The Guardian, The Times, Mirror, and lots more.

- We've built a great team of 24 people who've previously worked at companies like Google and Amstrad.

- We were nominated for Product Of The Year by London Innovator Awards, making it into the top 5.

Monetisation strategy

1) Hardware: As a manufacturing business we will generate revenues by selling our hardware (physical products). We plan to sell via wholesale at 40-50% off RRP.

We will be selling our products at the prices shown below:

– 1 gang light switch, RRP £35
– 2 gang light switch, RRP £45
– Single plug socket, RRP £50
– Double plug socket, RRP £60
– Occupancy Sensor, RRP £30
– Remote, RRP £20
– WiFi Hub, RRP £60

2) Subscriptions: our iOS and Android app will be completely free for the first 6 months, we will then charge £1 per month for particular premium features.

3) Data: Long term, we plan to generate additional revenues by monetising the data that our products will be capturing. (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

April to May 18
- Mass produce Den products in China, ship to UK
- Launch marketing campaign for UK product launch
- Launch in UK, products publicly available from early May 2018

June to December 18
- Grow in the UK
- Complete development of our US product offering
- Produce tooling for US offering
- Build a US team

2019
- Launch in US

Market

Target market

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, a more secure building 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, globally.
- Millions of new homes are being built every year around the world.

2) Existing demand for connected/automated systems.
- This is already a proven market, which is growing rapidly - The global market is generated £61b in 2016, which is expected to grow to around $460b by 2019, meaning there's a huge opportunity. 30% of people plan to buy a connect device.

Marketing strategy

Routes to market:

1) Supplying directly to the major homebuilders (e.g. Taylor Wimpey, Berkeley Homes, Crest Nicholson, Red Row).

2) Supplying directly to distributors, wholesalers and retailers (e.g Maplin, Screwfix, Argos, B&Q, Homebase, Apple, Currys, TLC, Smith Bros, BEW Electric.)

3) Working with strategic partners (E.g. British Gas, EON Energy, Nest, Carphone Dixons, O2) who have existing customers bases along with the infrastructure already in place to market and instal the products.

^ We are already in talks with some of the companies mentioned above.

4) Supplying directly to consumers via our own e-commerce website.

Competition strategy

Theres no doubt that wireless light switches and sockets already exist.

They've been around for over 10 years and have never caught on. Many of the current wireless switches available on the market have replaced the familiar rocker switch with complicated touch pads and buttons - we believe this makes them complicated, unfamiliar, and not mass market.

At Den, we're building products that we believe are far more intelligent that the other wireless switches available, however our products still look and work in the exact same way an ordinary switch would: we haven't taken anything away from the original user experience - We believe this is extremely important for the worldwide adoption of smart light switches and sockets.

We have a Granted European Patent that protects our unique conventional/remotely operable switch.

Apart from retaining the rocker switch, our products offer a wide range of features that many of our competitors do not.

Open an account to get access to the team members of Den

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

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

Only shareholders can access this page

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

Buy shares

Share on:

Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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 webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, 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. Seedrs 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 Seedrs, you should consult a professional adviser.

  • About Seedrs
  • Our Team
  • Careers
  • Partnerships
  • Contact us

  • Invest
  • Raise
  • Referrals
  • Tax Relief
  • Types of Equity

  • Case Studies
  • Guides
  • Blog
  • Investor help centre
  • Entrepreneur help centre
  • Glossary
  • Feedback

  • Risk Warnings
  • Privacy Notice
  • Security
  • Terms of Service
  • Referral Fee Terms
  • Campaign Terms
  • Secondary Market Terms
  • AutoInvest Terms

Facebook Twitter LinkedIn Google Plus

For information on how Seedrs uses your personal data, please review our Privacy Notice.
Seedrs small logo

Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

Trustpilot rating
Trustpilot Stars

Trustpilot Logo

Company

  • About Seedrs
  • Our Team
  • Careers
  • Partnerships
  • Contact us

Get Started

  • Invest
  • Raise
  • Referrals
  • Tax Relief
  • Types of Equity

Learn

  • Case Studies
  • Guides
  • Blog
  • Investor help centre
  • Entrepreneur help centre
  • Glossary
  • Feedback

Legal Info

  • Risk Warnings
  • Privacy Notice
  • Security
  • Terms of Service
  • Referral Fee Terms
  • Campaign Terms
  • Secondary Market Terms
  • AutoInvest Terms

Get Social

Facebook Twitter LinkedIn Google Plus
For information on how Seedrs uses your personal data, please review our Privacy Notice.
Seedrs small logo

Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

Trustpilot rating
Trustpilot Stars

Trustpilot Logo
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.
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 rounded from £14,229,675

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs.