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109%
Raised
£219,760
Investors
220
Target
£200,000
Equity
9.90%
Pre-money valuation
£2,000,000

The Gator watch, by Techsixtyfour, is a connected watch allowing parents to keep track and contact their young children without giving them access to the internet. Now available in several high street outlets, this round of funding will be used for marketing and to launch the product into Europe.

  • Available in Bentalls Kingston, John Lewis and on Amazon Launchpad
  • Plans to expand the product into Europe over the next 12 months
  • The wearables market is estimated to be worth $30bn
  • Founder was named one of 50 most inspiring women in tech in Europe
Information The company had £150,000 of its SEIS allowance remaining at the start of this raise. This will be allocated to investors on a first come first served basis. Any investments made after that limit has been exceeded will not be SEIS eligible but will potentially be eligible for EIS. The potential tax relief of any investment will be confirmed by email to investors, after they have submitted their applications to invest, and will depend on an investor's individual circumstances.

Idea

I am Colleen Wong, founder of Techsixtyfour and this is the story of my start up journey and how I plan to take the business into the future.

Problem We are Solving

Most of the parents we have spoken to dislike their younger child owning/using smartphones but for a peace of mind, they want to stay connected. The problem is, smartphones offer too much access to information and they are easily lost.

Our Solution

The Gator watch is a wearable mobile phone/tracker made for young kids. It can make and receive calls with up to 13 trusted people. It also has a built in location tracker. Once connected to our service plans, Gator watch works almost anywhere in the world (free EU roaming). The Gator watch is the smarter way to stay connected to your child as it does NOT connect to the internet, social media or games.

Marketing Strategy

Nov 2016 - in store at Fenwicks Bentalls Kingston store

Dec 2016 - launched on Amazon Launchpad

Mar 2017 - launched at John Lewis online

May 2017 - launched on AXA's My Active Plus platform

We see retail distribution as the faster way to enter the market.

We market the Gator watch primarily on social media, using ads on Facebook, Instagram and Amazon. Marketing spend is low but targeted and measurable.

We have received fantastic reviews from Wareable, T3, Pocket-Lint, E&T and GQ. The Gator watch has been featured on BBC, Telegraph, Netmums, Stuff, Metro and parenting blogs.

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Risk warning

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Techsixtyfour - Gator Watch has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.