A lot has happened and we cannot wait to tell you about it. Please keep in mind that this information is confidential.
All our best,
The EllieGrid Team
(Regina, Abe, Hieu, Nic & Ben)
We Are Shipping!
Oh ship! Our team is proud to announce that we are now shipping out our first batch of products. We will be shipping 700+ units to people who pre-ordered EllieGrid on Indiegogo. We will be closing sales while we take some time to collect user feedback before opening sales again during our official launch.
Co-founder, Regina Vatterott, proposed a SXSW 2018 Panel Picker and she needs your vote to get to the next round! The topic is covering designing health and wellness products for people rather than for patients. What we mean is that companies should work towards creating stigma-free products even if they are medical devices. Learn more and vote here.
The EllieGrid mobile app is now available in the Apple and Google app stores.
May 15 | InnoSTARS US & China Competition // Houston, TX (Abe)
May 31 | TO BE ANNOUNCED // Raleigh, NC (Regina)
June 2-3 | NGS (tentatively) // New York, NY (Abe)
Now that we have released the beta, our focus is coming back to raising our growth seed round of funding. We are raising up to $1M for scaling. If you or someone you know is interested in investing in EllieGrid, please contact Abe Matamoros.
What are we raising?
Up to $1M
What is the runway?
What are the terms?
$5M dollar cap with a 10% discount
Who are the main competitors?
- Traditional plastic containers
- Smart bottles (GlowCap & AdhereTech)
- Smart containers & dispensers (Hero, Pillo, Phillips)
- Internet Pharmacies (Pillpack)
What makes EllieGrid different?
First, we are targeting completely different target markets. The competitors are targeting people 70+ whereas EllieGrid is targeting users 65 and below, specifically Baby Boomers. This reflected in our functionality, brand, design, and marketing strategy.
How big is the addressable market?
We consider our addressable market to be anyone who takes multiple medications and/or supplements and owns a smartphone. In the US alone, this market consists of about 82 million people, which results in a market size of $8 billion (at $100 per unit). Now, if we account for the value of EllieGrid’s data, the market size is at least double that size.
Vision for the future:
Our vision is to create empowering products that help people live happier and healthier lives. We plan to do this by building a great brand and a powerful software platform. By creating a product that people engage with we will be able to gather enough data to use machine learning to predict when people will become non-compliant before it even happens. The current version of the EllieGrid pillbox is just the beginning. As we learn more from our users, and people who are accustomed to using technology get older, we plan to create different sizes and entire different products.
Go to market strategy:
We are going to take advantage of our low CAC and start by targeting people online through our website and other online retailers (year one). Once we have a well-established supply chain, healthy amount of working capital, and a recognizable brand, we plan to sell in physical retail stores (year two). Next, we plan on integrating with healthcare providers (year three).
Tell me about Your IP:
We did two separate patent searches with two different law firms, and both came to the conclusion that we are not infringing on another patent. We have filed our patent and are now have a patent pending.
Where are you in regards to Supply Chain:
We have our supply chain established. Obviously, there is room for improvement and we will keep working to optimize our supply chain as we start scaling. For example, we are currently assembling electronics in Sugar Land so that we can keep a close eye and make sure everything goes smoothly with our first batch; however, we have already started to create relationships with manufacturers in China so that we have the option of move there when it makes sense. The plastics are steel injection-molded in China, the electronics are assembled in Sugar Land, TX and we store everything here in Houston. The price per unit should decline beyond $20 once we pass over 50,000 units, and start moving supply chain to China.
What kind of employees do you plan on hiring with investment?
We plan on hiring software developers.
For more FAQs visit here.