Yepzon, a company that provides location devices with a profitable service, has successfully secured its initial €450,000 funding target on crowdfunding platform Invesdor. The company launched the campaign earlier this week and has just surpassed €500,000 from more than 120 investors.The company stated that it is aiming to be the global leader in ensuring that anyone or anything missing will be found.
“Our goal is to become a household name in the locating category by providing an easily scalable smartphone service that lets you locate everything you care about at a single glance. We are dedicated to making everyone feel safer and offering them the chance to live life to the fullest, free from fear.”
Yepzon also revealed details about its devices/services:
- One: offers up to 4 months of battery life on one charge, and more than 40% of the devices are used for pets. Over 20,000 Ones have already been sold, mainly in the Nordic Countries and North America.
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Freedom: A personal next-generation safety device that is equipped with an alarm button and provides 3G/WiFi indoor tracking.
- Industrial: A single-use device specifically developed for the logistics market. It helps customer companies identify various risk factors that might endanger the transport process.
- Service: All the devices mentioned above run on the Yepzon Cloud.
The company also noted:
“Our goal is a world where nothing runs the risk of getting lost – and where Yepzon is the global standard. Our aim is to hold 15-20% of the global market share by 2021. Locators for everyday use will become much more common in the future, for example in locating children, the elderly, pets and valuables. An increasing number of companies are also starting to use locators in logistics and monitoring high-priced production equipment. Services form a crucial part of our future ventures as the company extends its sights to the Indian and Chinese markets. In India, personal safety is a constantly growing concern and effective solutions – especially regarding the safety of women – are in great demand. Yepzon is joining the Indian market as a domestic player thanks to its Indian JV company and local manufacturing.”
Funds from the campaign will be used to continue Yepzon’s expansion. It is set to close on October 6th.
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