Photo - Finme
52120

Finme

Netflix for water consumption

Vietnam
Market: Internet and IT, Electronics
Stage of the project: Operating business

Date of last change: 26.04.2021
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Idea

We are Finme, eco friendly and smart IoT drinking bottle. We personalize water consumption amount and constantly remind people to drink water correctly to help them keep a healthy mind and body.

Current Status

The project is already sold in the Vietnam market now. We have B2B (customization logos and related accessories for companies) and B2C (e-commerce in Lazada, Tiki, Shopee) channels. Our key B2B clients include Microsoft, Canon, 25Fit ...

Market

Everyone needs to drink water, so in theory, our target group of customer is people with smartphone, care about health and weight, able to spent around 55 USD for a drinking bottle.
In Vietnam, we have focus on 55 million Vietnamese in working age, 25% of them in Mid-High income.
Each of them can buy 1.5 product (average number based on our current data) and for each product, our average revenue is 32.6 USD, which means the total available market in Vietnam shall be 669 million USD. As Vietnam average income will be increase, more people can buy our product, which mean the market in Vietnam will continue to rising.
For international market, we will target the same market segment in Vietnam, especially focus on office worker. Since the average income of developed countries are much higher than Vietnam, the total percentage will be much higher.

Problem or Opportunity

Our mission is to constantly help to improve human health through self awareness. Majority of people are born with a healthy mind and body, but as time go by, we are affected by the enviroment and unhealthy living style. We might understand that it is not good for our health, but we usuaaly forget it, and continuon with what we have currently doing. For example, drinking just enough water can help to prevent many diase, but many people are too busy to remember drinking enough water. They just drink when they feel too thirsty.
So we want to build a company that will constantly remind people to do small but important thing to help them keep a healthy mind and body.

Solution (product or service)

Our target customer is busy people who too focus on their tasks and forget to drink water. We help them to personalize their drinking amount based on their body measurements and exercise behaviors.
Smart bottle, Finme, reminds busy people to drink enough water everyday through sound and visual light effects; and notification from our application. Smart bottle is connected with mobile phone and visualizes the drinking process through a virtual character, tracked and calculated by our own designed smart sensor and circuit board. This character will grow through time if it is fed with enough water daily. If not, it will die. When reaching a certain stage, it can compete with friends through a competition system for additional rewards.

Competitors

Our indirect competitors are well-known high quality water bottle manufacturing like Lock&Lock and Jetty.
We provide high quality bottles like them (stainless steel 304, medical grade rubber, fashion and convenient to carry around) plus smart features.

Advantages or differentiators

We have combined physical IoT and software together to create an ecosystem for our services. It helps us to have a better competitive position and create a more difficult barrier for our competitors.
The product R&D is done by us.

Finance

For each physical product, we are making about 32.6 USD
In the last 6 months, we have sold around 3000 units, and currently have a deal with 2 partners for 10000 units each.
We expect to sale around 3.7 million units in Vietnam market for the next 3 year, and more in other markets if we can raise enough fund for market expansion.
We do have other revenue streams in our application, but not yet release to the market until we have built enough users with our IoT bottle.

Business model

We will provide a health and lifestyle tech ecosystem, with four main channel:
1. Smart bottle and its accessories
2. Integration with other tech partner (currently we are working with doctor - health tech startup and Triip - lifestyle startup for integration)
3. Paying in game with our application
4. Other smart IoT products (currently working on smart pill box)

Money will be spent on

We plan to use this money for enhance product’s features (50%), market expansion (40%) and backup (10%). Details as below:
• Finme application and accessories:
- Finme application (23%)
- Small, medium, large size of bottle body (6%)
- Air tank bottle cap, straw bottle cap (6%)
- More colors (2%)
- Extention for bottle tray (to be able to attach with existing normal bottle in the market) (3%)
• Market expansion target:
- Europe market (25%)
- US market (15%)

Offer for investor

We would like to propose 2 cooperation model:
1. Cash investment and distribution partners.
2. Cash investment only

We are willing to offer a max 20% share of our company.
We have received a letter of intent for funding 1,000,000 USD from UK (detail shall be shared during the matching session)

Team or Management

Photos

Photo 1 - Netflix for water consumption

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video