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MyPetGo, Pte. Ltd

The World's Most Powerful Comprehensive Pet-Tech Solution

USA, New York
Market: Appliances, Services, Electronics, Gadgets, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 24.08.2023
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Idea

Commercial partners looking to expand
As a data-driven pet-tech company, we have built the most advanced pet-health-monitors and pet-tech solutions, using real-time data.

Current Status

• We have invested $3M+ and nearly three years across R&D, building robust and scalable IP.
• We are certified and have mass-produced; 7,000 monitors with a stock value of $1.1M (5,000 left in stock).
• We have signed a strategic deals in North America.
• We have lined up strategic B2B2 partners across all continents.
• We are investing in Gen2 by leveraging the feedback and data sets from the first 7,000 users and improving our AI/ML.
• We are building the worlds largest and exclusive; pet care, health and wellness database for the future of pet care.

Market

1.B2B2C - We belive the big opportunity to shift quantity is not by selling one monitor at a time, but via strategic distribution partners who have a big addressable audience of pet owners. These companies are being sought out and we structure win, win partnerships. These companies are: Pet Insurance, Pet Commerce (online and offline), Pet Care (TeleVets, Diagnostics, Clinics, Hospital's and general care) in addition to Telecom companies.

2.B2B2C - WhiteLabel is another opportunity which is unique to us as a pet wearable offering. This enables us to enter certain markets that are not on our immediate radar.


3.B2B2C - Remote Pet Monitoring, sell monitors to clinics and pet hospitals that they can lease to pet owners to remotely observe pets and act on the data as and when needed. This would mimic that of RPM in human medicine.

4.D2C - We will invest some money to build a brand and thus in; performance marketing, social media, public relations, referral, events, pop-ups and exhibitions. We have a warehouse in Singapore for global fulfilment with additional PPL capabilities in Europe and USA.

ONLINE CHANNELS
Performance marketing
FB, IG, GDN, Adwords, etc.
Pet-focussed groups
FB groups, breeding groups
Digital advertising
Blogs, influencers, lifestyle magazines
Reseller partnerships
Agencies & other pet related companies
Digital malls & e-commerce sites
Shopee, Lazada, Amazon, etc.
PR efforts
Earned media

OFFLINE CHANNELS
Partnering pet-shops
In-store POS
Partnering with specialists
In-store POS
Insurance partners
Package with insurance plans
Pet rescue centres
Re-selling via pet adoption centres
Pop-up sales
Experiential campaigns
Referral Marketing
Give $ get $

Problem or Opportunity

•The lack to Monitor Pet Health easily: Pets don’t talk and are experts at hiding their emotions.
• The lack of Data-Driven Recommendations: No triaged data, and the lack of data means data driven recommendations are not possible.
• The lack of a “one-stop pet-care solution” the lack of digital transformation in the industry.
• The lack of insurance adoption rate.

Solution (product or service)

We take the guesswork out of pet parenting. The data received from the health and wellness monitor will send the pet owner next-step recommendations with solutions to identified problems, bridging a connection to our marketplace and a suitable product/service provider using our powerful advanced analytics and AI/ML-engine.

Competitors

Our competition is focused on GPS tracking, not Health and Wellness and should not be labelled competition as such, but another type of pet wearable doing a singular function. MyPetGo is different in that we are a three dimensional offering with understandable and unique health and wellness data as the first dimension. What the data entails with a next-step AI driven recommendation as a second dimension and bridging a connection to a product or service that can combat the issue at hand. This forms the MyPetGo ecosystem and helps users consolidate all their pet care needs into one app and one place completely data-driven.
We are a first mover in this space in many ways similar to the OURA ring or WHOOP strap but for pets with the added second and third dimension. Other competitors include for example, Tractive, and Apple.

Advantages or differentiators

MyPetGo Differentiation & USP (with our GenAI being a heavy hitting differentiator in this ""ready for innovation sector"":

- We redesign the category of pet-tech through innovation
We innovate across all three types of innovation:
1. Incremental Innovation (Monitor):
Our monitor is more powerful, functional and accurate. Through our unique propitiatory technology we have a clear focus on health and wellness. Others are mainly GPS trackers. Our offering works in all countries and it’s the worlds first only true global health and wellness monitor.
2. Business Model Efficiency Innovation (One-stop-complete-shop):
We consolidate all pet-care needs into one app, one platform. Our complete solution of everything pet-related comes with diversified multiple revenue streams with an optimised CAC. We focus on our subscription business, analytics and artificial intelligence to make the most of our customers and vice versa. In addition we leverage strong strategic B2B partners for expansion, sales, marketing and distribution instead of trying to be the next DTC wearable as most others.
3. Disruptive Innovation (Actual data + AA/ML/AI = Right decision):
Our customers get notified with timely health and lifestyle recommendations of what they can do to improve their pets' happiness, well-being, and longevity. In other words, we can dictate engagement in the super-app by meaningful recommendations and thus increase retention rate and improve CLV/LTV, while positively impact pets and pet parents.

Finance

Subscription: We assume 25% will take up month-on-month ($9.99) and 75% the 1 year plan ($8.49 x 12). (Based on actuals)
Churn rate: We assume we have a churn rate of 20%. I.e. we manage to carry over 80% of the users to next year. The USA wearable market stands at 7% CR.
Accessories: for the monitor, we assume 10% of the consumers will spend $35 per average in the shop for other personalised bands, collars, charging stations, and other items. Year two onwards. (WHOOP upsells 20% of their customers as a reference)
Market place transactions (conservative assumptions on transactions, used lower commission than what we can actually get): Shop - E-commerce: We believe 50% of the customers will spend $200 per average per year. We presume our commission is 10% of the actual basket value.
On-demand Bookings: We assume a $5 per booking on average. (Groomer lower and clinics higher). We believe 25% of the users will use this service one time per year on average.
• Entrepreneur + Investor + Venture-builder
Tele-Vet service: we assume our share to be $5 per session. We believe 5% of the users will use this service one time per year. Insurance plans: We assume 3% of the users will buy a recommended insurance plan at an average of $450 per plan with a 10% commission.

Business model

B2B2C

Our business model contains the following customer acquisition approaches

1.Subscription
2. Accessories for our monitors
3. E-commerce
4. On-demand Bookings
5. Tele-Vet Services
6. Insurance Plans

Money will be spent on

We are raising: up to USD 1M, to timely:
• Market and deploy our pilot of 7K monitors/subs by latest Dec 2023. (We have 5.3K in left in stock)
• Develop Generation 2 and manufacture 10K monitors, to prepare sufficient stock for 2024.
• Develop our GenAI initiative and infrastructure needed, while collecting underlying exclusive datasets.
• Develop strong brand equity across key markets / B2B partners to scale distribution channels (monitors/subs).
• Improve team and hire key front facing personnel in Europe US markets, keep back-bone in Asia.
Investment Terms
• Minimum ticket size: $50,000
• Type of security: Common Stock
• Pre-money Valuation: $10,000,000
• Alternative structure: Convertible or safe note.

Offer for investor

We are offering investors a short window chance to enter at a low and humble valuation of 10mm USD, prior to our ICO/IPO.

Additionally we are offering a partial acquisition into the company.

NOTE: The minimum investment here is 50,000 USD, while our ideal target check is 1mm USD.

We are however willing to oversubscribe on this round at over 1mm USD and up to 5mm USD.

Risks

There is always a risk of a failure point or multiple failure points in any business, so that is a big risk of course.

Other risks include:
Supply chain and logistics issues affected by such as what we saw during Covid, furthermore affected by Geo political as in tariff wars, exporting monitors etc.

With our global strategic partners, we believe that we have taken adequate and confident steps to mitigate this and even potentially eliminate most drastic risks.

Incubation/Acceleration programs accomplishment

N/A

Won the competition and other awards

Most innovative product - The Animal Health, Nutrition and Technology Innovation Summit 2022

CEO, Founder, Richard Nilsson is frequently a keynote or panel guest at leading pet innovation conferences, such as the Pet Care Innovation Summit, Europe, USA and ASIA. As well as The Animal Health, Nutrition and Technology Innovation Summit. Usually around the areas of AI for the pet sector, AIoT, Wearables 2.0 etc.

Invention/Patent

We have decided that patents is a waste of time for what we are doing; if you ever get them, which is costly and time consuming your tech is already outdated. We will probably not patent hardware but possibly our algorithms and generative AIs; but for Gen 2 not, Gen 1

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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
Presentation