We’ve just received our first investment from a private investor, who wanted to help us take the IoT-locks and Ambitlocker-concept to market.
Our latest product, Ambitlocker, was introduced at the beginning of October, and as mentioned in the introduction, Ambitlocker is run as a separate startup alongside our partners.
(If you haven't read the introduction to Ambitlocker, you can find it right here.)
This new constellation has paved the way for a first for us: Ambitlocker has just received an investment from a private investor!
While we can’t disclose the amount, we can tell you that it’s sufficient to fuel the rest of the development and produce the first 1.000 IoT-locks.
Furthermore, we would like to share our learnings from the process, where we used a new model from ‘Heyfunding’ which made the process super smooth.
No cure – no pay
While we are no strangers to getting soft-funding to bring our new inventions from idea to market, Ambitlocker is the first of our product to receive hard-funding from a private inventor.
While we have considered raising money from private investors before, we have been beating around the bush as we were scared off by the whole process and the stories about how tedious it can be.
We had initially been looking for investors for Ambitlocker ourselves, but they were didn't like the risk involved in such an early stage project.
For that reason, we welcomed a new model from the company ‘Heyfunding’ warmly: They would help us raise the funds and offered a ‘no cure – no pay’ model, which made the decision a no-brainer.
After sending our pitch deck to Heyfunding they simply took care of all the groundwork and came back with 3 relevant investors – of which one ended up investing in Ambitlocker. And we’re pretty confident that this model has saved us both time and headaches.
Funding before market
Heyfunding's effort made it a lot smoother for us to raise money, and we are very proud to announce this substantial investment while Ambitlocker is still on the proof-of-concept stage.
The funds obviously help us prepare the product for the market, but it also poses a greater risk for the investor.
For that reason, we’re proud that they trust in the abilities and experience of both our team members and our partners to successfully bring Ambitlocker to the market.
And if everything goes as planned, we will most likely try to raise another investment round in the spring.