We make authentication absolutely effortless and secured by converting bulky wallet into a fashionable tiny ring. Our customers are able to pay everywhere in the world, wherever contactless payments are accepted; earn loyalty points; open RFID doors and share any kind of identification information with a single gesture. That’s not all, CNICK Ring stores unique token which communicates with the medical databases and provides doctors with a customer’s emergency health information.
CNICK ring is already launched in Georgia, we have over 5000 early customers and we need additional investment to expand.
Wearables market is growing every year by 10-15%, expected to
exceed $51 Billion by 2022, which shows increasing interest in the
smart jewelries, despite the smartphones high adoption rate. By
launching the crypto payments device, we are entering into one of
the fastest growing market. Even so currently there is low rate of
using crypto for every day purchases, we believe adoption rate will
grow every year exponentially and we will benefit from the first move
advantage starting right time, shaping the industry.
Problem or Opportunity
Contactless card development simplified our life, we mostly don’t
have to carry keys, coins or tickets, but we have to fill our wallet with
multiple rectangular plastics with different functionalities and every
time repeat boring procedure of taking wallet and picking appropriate
card. Smartphones look promising solution here, but unfortunately
not a reliable enough to trust carrying our identity information, as we
don’t want to be stuck with battery drained phone when access and
payments are such an urgent task.
Solution (product or service)
CNICK Ring is an unique combination of fashionable jewelry and technologies. Current version of the ring replaces payment cards, access badges and tickets and we are working to enable cryptocurrency payments as well. Beside this, we are partnering with ministry of health of Georgia to enable storing emergency health information.
CNICK ring is handcrafted made from exotic wood and we enable customers to build unique ring design using our online configurator.
Our closest competitors are NFC Ring and Token Ring, beside them there
are Chinese manufacturers of RFID Rings on the market, but they have
crappy quality and poor performance product.
Advantages or differentiators
CNICK clearly stands out of the crowed with design, quality and
Our Ring is the first fully customizable wearable technology and the first
wooden ring, which provides superior jewelry experience for the
What we build is more than hardware technology, we develop platform
which unifies all the identifiaction in one simple tiny wearable device, consisting multiple applications of different needs, some can even become life saving for the consumer such as storing emergency health information and making it available to the doctors instantly.
Starting price is 50$. We expect to have revenue of 350,000$ this year and avg. annual growth rate of 120% during next 5 years.
Our current revenue comes from the product B-to-C and B-to-B sales.
Beside this, we have opportunity to develop new revenue streams by
integrating different companies’ services to our platform, such as loyalty
cards, memberships and ticketing.
Money will be spent on
We need investment for expanding in neighboring countries and Europe as well as for developing our wallet app, which will enable to control cards connecting to our wearables.
Use of funds:
15% Tooling, increasing manufacturing capacity
20% Other operating expenses
Offer for investor
We participate in the new government program which grants us with 250,000$ if we raise another 250,000$ from investors.