GlassUp

by GlassUp srl

We are developing eyeglasses that show to the user any kind of information: emails, text messages, news, scores, heartbeats, translations, speed, directions, build instructions, subtitles, captions, sheet music – depending on the app you download. Conceptually similar to Google Glass, but not eye-straining, and with the appearance of classy sunglasses.

9%
Equity Offer
100%
Funded
250000
Raised over € 250000 goal
46
Supporters
Success!
and we love to see this word again

 

Background

GlassUP S.r.l. was founded in 2012 and is located in Modena, Italy. We are developing eyeglasses that show to the user any kind of information: emails, text messages, news, scores, heartbeats, translations, speed, directions, build instructions, subtitles, captions, sheet music – depending on the app you download.  Conceptually similar to Google Glass, but not eye-straining, and with the appearance of classy sunglasses.

The GlassUp mission is to become a benchmark in the international market of wearable technology trough a SmartGlass easy to use , aesthetically pleasing , comfortable to wear, with a low price level . The main goal is to create a mainstream effect  : focus on features  that have a high impact in the life of every day and be smart to use.  GlassUp wants to simplify and improve the lives of people , every day. 

 

The Problem

We started with the concept of not having to grab your mobile every time you receive a message, and to ease your interaction with the world of information that surrounds you.  But we soon learned that the product we were developing was very useful to a large number of potential users: sportsmen (bikers, golfers, sailors, joggers, etc.), tourists, deaf, foreigners, surgeons, drivers, maintenance workers, pilots, musicians, and so many more.

 

The Solution

We started about at the same time as Google (who had not disclosed their project yet), but from the beginning we focused on finding a way to display the information near the center of your field of view, rather than at a side.  We wanted our glasses to show the messages like in the windscreen of a car, not like in the rearview mirror. It was technically much more difficult, especially since we wanted our system to fit in a normal pair of glasses.  We have found the technical solution and filed patent applications.  We have a technical advantage over our competitors since our system is kind to the eyes of the user; but this technical advantage turns into an esthetical advantage, that is almost as important.

 

 

Market and Competitors

The following data are about the market size:

97 million 2015 unit sales of A/R wearable products 

600 million 2020 unit sales of A/R wearable products (8% smartglasses)

Our main competitors are Google Glass, Recon Instruments, Epson, Vuzix, Laster, Lumus, Optinvent.  Many more big names seem to have plans to enter this field, such as Apple, Samsung, Microsoft, Sony, Ericsson, and more.  Our competitive advantage is technical and esthetic, as indicated above.  We believe that such a competitive landscape is worrisome, but can also bring easily good exit opportunities. 

 

Business Model and Operating Plan

Our business model is to develop, produce and sell the glasses to distributors in each country. 

We are also in talks with many of the biggest companies in various fields: eyewear, telcos, electronics, software, automotive, and more. who would be much better structured to distribute the product, and perhaps also to manufacture it.  In case a partnership of this kind is successful, we will leave to them the distribution, and possibly cooperate on the manufacturing.

  

In order to extend the possible applications of our product we are releasing the SDK & APIs, so that all external developers will be able to create apps for any kind of usage. 

As future step, leveraging GlassUp optics R&D competence, we are planning to develop specific technology that can be included in products for different targets, such as: helmets for motor bikers, ski-masks, professional glasses for surgeons, or musicians, or special glasses for sight impaired people.

 

Marketing Plan

The marketing will be one of the key levers to support the commercial development of the product.
Positioning marketing objective is typical of a "mainstream": a product for everyone, pop, simple and with the aesthetic and functional characteristics to be considered a "icon."
The Brand Value are : DESIGN, COMFORT, SMARTNESS and  FANTASY.
 
The marketing plan is focused on the "consumer engagement" concept : the consumer behaviour drives the project way. 
The marketing milestones are : 
  1. SOCIAL MEDIA MARKETING  >  to involve the "Glass Up Experience." Focus also on specialistic  blog and community of makers/developers.
  2. TRADE& RETAIL MARKETING > support to retailer with a in store branding activation plan
  3. LATERAL MARKETING  > events and co-marketing partnership connected to the brand value  : sport, art, trips.
 

Team

 

GlassUp has invested in creating a team with a high know how level. The members : 

Francesco Giartosio (CEO - Co-Owner) / Strategy & Business Developer 

Gianluigi Tregnaghi (CTO - Co-Owner) / Optical Team Leader 

Riccardo Soffritti (COO) / Industrialization Project Manager 

Enzo Francesca / Developer Team Leader 

Emiliano Della Casa / Professionale Line  Project Manager 

Manuel Montini / Developer 

Daniele Meschiari / Developer

Thomas Miletti / Optical Lab Manager 

Federico Canuti / Marketing Manager 

 

 

Financial Projections

This is a brief overview of our financial forecasts for the next three years:

 

2017

2018
Unit Sales 50k 100k
Turnover 10.000 20.000
C.O.S. -5.000 -10.000
Gross Margin 5.000 10.000
Sales & Marketing -1.000 -2.000
General Expenses -2.000 -4.000
EBITDA 2.000 4.000
Depreciaton & Amortization -400 -500
Pre-Tax Result 1.600 3.500
Taxes -500 -1.100
Net Result 1.100 2.400

 

And here our short-term cash-flows:

 

Year 2016   2017      
Trim. III Trim. IV Trim. I Trim. II Trim. III Trim. IV Trim.
Product Cash Flow   -200 100 1.000 1.500 2.000
Sales&Marketing   -50 -100 -250 -300 -400
Operations -100 -100 -200 -400 -650 -850
Development -100 -100 -100 -100 -150 -150
Cash Flow  -200 -450 -300 250 400 600
Cumulative Cash Flow -200 -650 -950 -700 300 900
     

 

             

What we are seeking

We are seeking an investment of €250k to complete development, patenting, industrialization, certifications, for which we expect to give in return 9.09% of equity of the Company.

 

GlassUp on the media

 



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Info

01 July 2016 09:37:00
11 November 2016 23:59:00

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Modena, Italy

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