AI powered one-stop parenting app. VC backing from investors of Tree App, Jenson Funding Partners.
|Location||London, United Kingdom|
|Sectors||SaaS/PaaS Digital Mixed B2B/B2C|
|Company number||Onoco Limited|
|Incorporation date||10 Jan 2020|
- Reached the Top 60 Medical apps on App Store
- Backed by an institutional investor
- Experienced leadership team (Betfair, Starling Bank, Palantir)
- Strong traction with more than 6,600 monthly active users
Onoco is a fast-growing, parenting super-app. We have merged the most common app categories in the parenting space – baby trackers, family organisers, and child development plans - into one app. And this is just the beginning. Our ambition is to create a hub for the whole family. A platform that uniquely applies the power of data science to health and development and connects parents with sleep consultants, speech therapists, healthcare and childcare professionals.
The parent tech market ($46Bn TAM) is very fragmented. Most of the available tools only focus on one area and are not designed for every type of family, rarely considering collaborative caregiving and instead focusing on the old traditional expectation of one key carer.
Onoco understands that the old model of ‘stay at home mum’ and ‘working dad’ is no longer relevant, and instead recognises that every family is different - inviting family members, nannies, step-parents and more on each child’s development journey.
Substantial accomplishments to date
Since launch, we've been working hard to build Onoco and deliver the best possible experience to our families. We now have over 30,000 downloads, over 460 developmental milestones drawn from the Early Years Foundation Stage Framework (EYFS) to be monitored against, and are seeing the number of events logged in-app growing by 40% month on month; that's more than 300,000 naps, 700,000 feeds and nearly 50,000 milestones to be celebrated!
Recently we were highlighted as one of ‘the best apps for new mamas in 2022’ by My Baba alongside a few very well-positioned apps within the parenting space, demonstrating the impact and level of recognition we are already receiving at this early stage.
The primary source of revenue in 2022 is going to come from subscriptions. We plan on offering a monthly or annual subscription, which will provide families with a set of more advanced personalisation options across their accounts, while the main app and standard features will remain free to use.
2) Payment by a third party
We aim to find intermediaries, such as NHS or Insurance companies to pay for the subscription/product fee, while the end-user (parents) enjoy Onoco’s services for free.
We plan on giving parents the possibility to book appointments with: baby sleep consultants, speech therapists and paediatricians.
Use of proceeds
2022 is set to be a pivotal year for Onoco, and that's why we are fundraising! Your investment will help us to fuel further growth (our logged events are currently growing 40% MoM) and continue developing even more family-focused features including:
- The planned release of premium membership subscriptions for new families
- Increased personalisation options
- An AI nap predictor and
- A hub of childcare consultants available in-app for parents to connect with.
All while allowing us to expand the Onoco team and working towards our goal of reaching hundreds of thousands of new users.
The company has the following outstanding loans:
£10,529 director's loan at an interest rate of 5%. The loan is to be repaid out of revenue when the business is deemed to be in a position to do so.
The funds raised from this investment round will not be used to repay these loans.
The share price for this round is £1.2286. The investment multiple for the campaign has been set as £12.28 for 10 shares in the business.
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