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Onoco

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AI powered one-stop parenting app. VC backing from investors of Tree App, Jenson Funding Partners.

124%
 - 
Funded 12 May 2022
£250,009 target
£323,738 from 220 investors
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Business overview

Location London, United Kingdom
Social media
Website www.onoco.com/
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 12397107
Incorporation date 10 Jan 2020
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Investment summary

Type Equity
Valuation (pre-money) £2.2M
Equity offered 12.60%
Share price £1.228
Tax relief

EIS

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Business highlights

  • 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
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Key features

  • Secondary Market
  • Seedrs nominee min. £12.28 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 220
  • Discussion
  • Documents

Idea

Introduction

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.

Monetisation strategy

1) Subscriptions

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.

3)Consultations

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.

Key Information

Debt

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.

Share price

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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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 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.

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 £2,167,420

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.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • 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

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.

Seedrs nominee

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

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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

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the 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 Seedrs Nominee). 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.

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