Mymanu, an AI-powered, “patent-pending” translation-embedded Clik Pro earbuds provider seeks to enhance cross-cultural communication and have raised £270,489 from 53 investors (at the time of writing) via its crowdfunding campaign carried out via Crowdcube.
As explained by its developers, with Mymanu there are “no smartphone needed, just real-time translation in 50+ languages.”
As described in the update, it is a tool “to empower travelers, businesses, and humanitarian organizations to create new experiences whilst connecting with others.”
The product’s developers are now on a mission to become the creators of the #1 AI translation electronics. There are now 10 days remaining in this crowdfunding campaign.
Based in the United Kingdom, the initiative has secured 56% of its £480,000 target. The firm reports a £15,000,000 pre-money valuation; Equity – 3.1%; a £6.12 share price; tax relief; EIS.
As noted in the update, the Crowdcube raise forms “part of a wider round, in which the company had already secured £200,000 as further investment prior to the Crowdcube Raise, which has been reflected onto the progress bar.”
The company may spend up “to £100,000 whilst the pitch is live.” The company says it has worked with a wholly-owned subsidiary of Deutsche Telekom, which is said to be the EU’s largest telecom operator. The company supports real-time translation in 50+ different languages.
According to the firm, it is estimated there “are up to 7000 languages spoken around the world and 1 in 4 adults don’t speak a second language in the UK.” In today’s globalized world, language barriers remain a significant challenge, “hindering communication and cultural exchange.” These barriers can potentilly “impact personal connections, business operations, and access to information across different languages.”
The company says it is “an innovative developer of AI-powered translation-embedded earbuds designed to provide high quality of translation accuracy.” Their translation earbuds have “different translation modes (voice/text/group) and enable real-time communication and content access across multiple languages.”
According to the update, the global translations market “was valued at US$39.37 billion in 2020 and expected to reach US$46.22 billion by 2028. This presents an opportunity for growth in technological devices in communication.”
The company says it will “adopt a D2C and B2B business model.”
They sell their translation devices directly to their consumers while “offering enterprise solutions to businesses for improved global communication and operations.”
Pilots with business such as Louvre Group Hotel and The Marriott Hotel chain. They claim to face competition from other technology firms offering translation and communication devices.
But they believe their translation earbuds which can provide real-time translation in different translation modes (voice/text/group) and connectivity “set them apart in the market.”
They are now raising to:
- fund the manufacturing our products,
- focus on their marketing strategy and
- invest in their R&D for future growth and development.
Mymanu is said to be “backed by investors including Ringo Francis, the founder and former CEO of Zenith Hygiene Group Plc and Lord Stanley Fink, former CEO of Man Group plc.”
They have launched their enterprise solutions, trialing it with the Louvre Hotel Group and Marriott Hotel chain, as well as retailers including Bestbuy. They have also filed for “a comprehensive patent portfolio, registered trademarks in the EU, US, Canada & Asia and 10+ domains.”
This signifies their commitment in “protecting their core audio and communication technology.”
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