09 Mar OneUP, client of Icofunding, issues a digitized participative loan to raise funds
OneUP, an innovative life preserver, is issuing a digitized participative loan to raise funds to further expand their company. Their participative loan is represented digitally in the form of a token linked to a blockchain (this kind of investment rounds are referred to as STOs).
OneUP: an innovative life preserver
OneUP is a 17.5 centimeters portable and self-inflating life preserver which activates in less than 2 seconds when it gets in contact with water. This means that is doesn’t need to be activated manually. The device can be used by both children as adults, and works for people that weigh up to 150 kilos. It can be thrown up to 30 meters away, so anyone can use it to save someone’s life without having to put him/herself in danger.
We asked the founding team of OneUP a few questions to get to know the product and the team better, while also touching on why they decided to launch a STO.
1. How was the idea for OneUP born?
The idea behind OneUP was born in the Canary Islands out of personal concern of its CEO and Co-founder, Saúl de León. He noticed the problems that the Red Cross volunteers face at beaches and harbours due to the high rate of emergencies that occur, which leads to them not always being able to help everyone who is in danger in open waters.
2. What makes OneUP different from other life saving devices?
OneUP is the first life ring that self-inflates when it gets in contact with water. It’s lightweight and has a small size, which means it can be easily transported. The lifesaving devices that are currently on the market don’t fully cover all the needs that exist among (potential) customers. Products such as the life jacket, the life ring, Restube or Kingii are designed for specific environments or use cases, which limits them in their use. Our device is designed to be a all-round solution to reduce drowning deaths worldwide.
3. Why did you decide to launch an STO?
We have launched an STO in order expand OneUP in new markets and to turn it into a mass device that will be present in any aquatic environment (beaches, swimming pools, hotels, vessels, etc.). That’s also why we have designed it to be suitable to any environment.
Blockchain technology is perfect for bringing OneUP to the top; not only due to the transparency and immutability it can bring to (the production and sale of) our product, but also because it makes our project scalable.
In addition, we tokenize the sales around the world to reward investors, and we also use blockchain technology to trace the entire cycle of our device, from the manufacturing of the product until its delivery.
4. What traction does OneUp have made so far?
OneUP has made an impressive traction so far. We see this reflected in the growing sales that are based on a scalable model that allows an increase in the profits as the sales volume increases.
When it comes to the sales and the monetization, OneUP presents an exponential increase in its annual turnover since it was created.
When we look at the acquisition of new customers, OneUP has 150 unique clients as of today, among them are companies, distributors, institutions and individual clients. Among these early adaptors, two of them who have become international ambassadors of OneUP: the Red Cross and the Maritime Rescue Federation. If we analyze the the engagement cost, we can determine that OneUP invests a total of €384.61 per client; an amount that represents less than a 1% within the average purchase, which amounts to 870 units.
Another interesting fact on our traction is that we have reached a retention rate of 43%. This high percentage is directly related to the high demand that comes from the specific niche we operate in. Likewise, the fact that our product is different from our competitors, the protection of the intellectual property and its price make our life preserver a very attractive and competitive product. Moreover, several media from different countries have talked about our project: the Henry Ford Foundation, Adam Sanyal, Computer Today and many European television channels have made OneUP gain a lot of visibility.
The funds obtained in the OneUP STO are accelerating the structural growth that has led to the turnover increase and a the lowering of the acquisition costs. These data demonstrate the viability of the project and convert it into a high growth company.
5. Can you tell us something about the team who is behind this project?
We have a versatile team with backgrounds in different sectors and we all share the same passion for the ocean. We have a shared duty which is to teach the importance of educating and raising awareness on water safety. Our biggest challenge is to make all (open) waters and pools secure places with our life saving device.
Our CEO and Cofounder, Saúl de León, is the creator of our life preserver. He also cares a lot about the conservation of the aquatic environment.
Our General Manager and Cofounder, Luis Borges, has a broad experience in designing technological devices and large-scale manufacturing. His company, Toy Stand, has 6 international franchises and 57 points of sale in Spain.
Likewise, we count with the legal advice of Icofounding. They have been responsible for creating the legal framework for the STO investment round of OneUP. In addition, we have collaborated with the EAFI José Manzanares Allén, which is supervised by the Spanish Financial Authority (CNMV). This investment firm has guided and advised us at all times during the preparation of the investment round, laying the foundations for the public round, making sure we were fully compliant to commercialize our token in the European Union.
This post is also available in: Español