We have leased a single arm to develop a one-arm high functioning prototype and confirmed that a robot can be programmed to follow a complex human body contour and apply a specified force (See Video) . In fact, we have now demonstrated robotic massage to many users already. We were at the Technology Innovation Forum trade show in Newport Beach, California where we demonstrated this new technology to hundreds of users. We gave a keynote speech at the UCI Innovation Center in front of a large audience and gave demonstrations after the talk. We continue to give demonstrations at our office at Techspace in Aliso Viejo, California. We have received wonderful reviews and valuable feedback that continues to drive our innovation. We are now raising $1M in seed funding through convertible notes and SAFEs to build a Minimum Viable Product (MVP) that can be deployed in our first store.
|Funding / Milestones||Funding||Expense||Time|
|Seed (Production Model)||$1,000,000||$1,000,000||0-12M|
|Seed (First Store & Revenue)||$4,000,000||$4,000,000||12-24M|
|Series A (10 store + Runway)||$15,000,000||$15,000,000||24M+|
Please use the following waterfall analysis to evaluate different investment vs. return scenarios.
Values in blue may be changed within specified ranges.