Backed by Aviva, Cocoon has been dubbed the home security revolution as it hopes to protect homes around the world with its unique Subsound® technology.
Hoping to raise £2.5 million on Crowdcube, Cocoon is a revolutionary smart home company solving the problems that plague other home security devices and their customers.
“Last year 730,000 UK homes were affected by burglary, costing insurers over £1.4 billion. Until recently home security had been expensive & difficult to install, leaving 70 percent of UK homes unprotected. Cocoon can set up in seconds and protect your whole home, making security more affordable for the 19 million homes currently unprotected. Our patented Subsound®
“Cocoon can set up in seconds and protect your whole home, making security more affordable for the 19 million homes currently unprotected. Our patented Subsound® technology, detects infrasound created by intruders, protecting the whole home from one device, and by using machine learning avoids false alarms.”
Already on a successful path, Cocoon received positive reviews & features in titles such as The Financial Times, The Telegraph and The Times, with Gartner naming Cocoon ‘Cool Vendor’ for the Smart Home in 2016.
So far the home security service has raised over £1.5 million from 466 investors and still has ten days to raise the remainder of the target.
“Your investment will enable us to reduce per unit production costs by 68%, develop additional upgraded monthly subscription services to develop recurring revenue and expand our business development team to focus on UK / US retail distribution and partnership sales.” says CEO Sanjay Parekh.
Since launching in September 2016, the start-up has seen a growth in monthly sales consecutively. They forecast £1.96 million revenues for 2017, and with increased marketing spend, online sales are expected to grow up to 1,000 units per month with retail sales reaching 3,000 units per month by December 2017.
Cocoon has raised an impressive 62 percent of its total and offers an equity of 14.29 percent.