This funding round has closed
SpaceCot - light-weight, easy to use travel cot
234% of minimum goal raised
Lead investor: Nigel Simon |
Minimum Target £ 150,000 |
Minimum investment amount £ 5,000 |
Maximum Target £ 500,002 |
Maximum investment amount £ 300,000 |
'A little bit brilliant’ is developing a range of innovative new baby products by adapting & simplifying selected elements of cutting edge technology. In Jan 2017 SpaceCot, the easiest & lightest full-size folding travel cot was officially launched in the UK, Ireland, France, Germany & China. The company is partnering with one of the top 5 baby product companies to further launch into Asia & the US. They have received multiple awards & are backed by the founder of New Look & the ex-CEO of Mothercare. Their cot is stocked by major UK chains such as John Lewis & over 50 independent retailers. Having achieved their first big milestone, investment is needed to pursue the US & Asia opportunities.
Over the last 15 years childcare equipment has seen limited innovation & advances in core functionality specifically in the designs for baby cots & playpens. The team has identified a number of areas within the market that are ripe for innovation, the travel cot sector being the first. With over 2500 units sold to the UK since its launch in 2017, SpaceCot has already surpassed initial expectations. The business is currently experiencing annual growth of 50%+ from outlets such as John Lewis & Mothercare. In Europe first re-orders are fulfilled. The new partnership with Combi will secure entry into the US & Asia – estimated sales 11,000 units pa with 2000 to be delivered in early Summer.
Existing baby travel cots and travel systems are heavy, complicated to set-up and even slower to put away. To create the world’s most portable travel cot, 'a little bit brilliant' took its inspiration from the way solar panels unfold on European Space Agency satellites. SpaceCot unfolds in 1 second and takes only 3 seconds to fold up again but when in use it is robust and stable and can be used like a permanent cot, making SpaceCot very versatile. They have found that for many of their customers, it is the only cot they require and can replace moses basket and other early stage products.
At present, the production cost is £37-£45 per unit depending on volumes. The company believes, with the increase in production, the cost per unit will reduce to around £30 within the next 36 months. This will leave a gross margin after production & distribution of around £20-£40 per unit depending on retail outlet & country. The sales numbers aim to grow to 17k units sold by Apr '19 and 32k units by Apr '20. They target growth to 100k+ units within the next 4-5 years. In addition, the pending additional accessories, which are being requested by retailers, have higher percentage profit margins. The recommended retail price for SpaceCot in the UK is £139.95, EU-195Euros, $250 US and Asia.
Over the last 15 years childcare equipment has seen limited innovation & advances in core functionality specifically in the designs for baby cots & playpens. The team has identified a number of areas within the market that are ripe for innovation, the travel cot sector being the first. With over 2500 units sold to the UK since its launch in 2017, SpaceCot has already surpassed initial expectations. The business is currently experiencing annual growth of 50%+ from outlets such as John Lewis & Mothercare. In Europe first re-orders are fulfilled. The new partnership with Combi will secure entry into the US & Asia – estimated sales 11,000 units pa with 2000 to be delivered in early Summer.
Existing baby travel cots and travel systems are heavy, complicated to set-up and even slower to put away. To create the world’s most portable travel cot, 'a little bit brilliant' took its inspiration from the way solar panels unfold on European Space Agency satellites. SpaceCot unfolds in 1 second and takes only 3 seconds to fold up again but when in use it is robust and stable and can be used like a permanent cot, making SpaceCot very versatile. They have found that for many of their customers, it is the only cot they require and can replace moses basket and other early stage products.
At present, the production cost is £37-£45 per unit depending on volumes. The company believes, with the increase in production, the cost per unit will reduce to around £30 within the next 36 months. This will leave a gross margin after production & distribution of around £20-£40 per unit depending on retail outlet & country. The sales numbers aim to grow to 17k units sold by Apr '19 and 32k units by Apr '20. They target growth to 100k+ units within the next 4-5 years. In addition, the pending additional accessories, which are being requested by retailers, have higher percentage profit margins. The recommended retail price for SpaceCot in the UK is £139.95, EU-195Euros, $250 US and Asia.