Company Overview –
Aido is an interactive personal home robot. He’s an all-in-one package that comes with the best of home automation, security, assistance, entertainment and much more.
*Souce: Start Engine
|Name: Ingen Dynamics inc.||Minimum Raise: $50K|
|CEO: Arshad Hisham||Maximum Raise: $1M|
|Company Founded: July 2015||Structure of Raise: Common Stock|
|Location: Palo Alto, CA||Valuation: $12M Pre-Money Valuation|
|Crowdfunding Portal: Start Engine||Minimum Investment: $141|
|Crowdfunding Link: https://www.startengine.com/startup/aido|
|Positives||Risks and Reservations|
|$900k in pre-orders||Ingen Dynamics does not currently have a working prototype of Aido.|
|Common stock in this offering includes voting rights||InGen Dynamics has repeatedly pushed the shipping date of the product|
|Company has established a 20% employee option pool||Outstanding SAFE issued for $10,000 with a valuation cap of $2.5M and 20% discount that has yet to be converted and will cause further dilution upon conversion.|
|Aidohas received multiple press acknowledgements||Ingen Dynamics has yet to file for provisional patents but claims they are in the process of filing.|
|Ingen Dynamics received payment from the indegogo campaign and has yet to fill the orders. As 2016 financials were not disclosed with this offering it is unknown if the capital has been spent leaving a liability for unfilled orders.|
Currently, home robots are expensive and aren’t able to do all the tasks consumers want them to do.
InGen Dynamics will build a useful, affordable and advanced home robot, Aido. Aido can do everything from keeping your home secure to recognizing each family member and adjusting to their preferences.
InGen Dynamics charges $1,499 for an Aido robot.
- $800,000+ in pre-orders
- Recipient of multiple awards including T3 Gamechanger of 2016
- $900,000+ raised on Indiegogo & ranked #2 of the most successful home robot campaigns of all time
- Invited by Walt Disney to be showcased at their global innovation campus
- Recognized by major industry associations including IEEE, Boston Consulting Group, and Robo-Business
- Three functional prototypes complete and a functional SDK released to early developers
- Featured in major global research reports on Security and Home Robotics
*Source: Company provided on crowdfunding campaign website
Senior Management Team
|Arshad Hisham||Anurag Pal|
|Position:||CEO & Founder||CFO|
Arshad is a frequent presenter on the topic of robotics and has previously held senior roles at IBM, the Government of Australia, and Toyota. CFO Anurag Pal is currently the CEO of Escalon as well as CEO of Accelcia Business Services according to his LinkedIn profile. Along with the two core members, Ingen also lists 3 other engineers as team members on their portal page.
Industry: Consumer & Business Robots
TAM (Total Addressable Market): $1.5B by 2019
*Souce: Portal Page
Driving Trends: Service robotics market growth from $5.6B in 2014 to $22.5B in 2021 at an 18.8% CAGR
Along with the boom of the IoT industry, the technology advancements in robotics are just starting to scratch the surface of the potential. With the recent success of the Amazon Echo and Google Home Assistant, consumers have expressed a desire to adopt home automation. If done correctly and Aido performs as well as promised, they could have a success. One thing to consider would be if the consumers are actually wanting a physical robot in their home vs. a bookshelf sized speaker that can accomplish many of the same features that are currently avaialble from Amazon or Google.
Aido offers additional features at a substantially lower price point than its competitors.
|Funds Raised||$70.4M||$658,102 (Indiegogo)||$236M||N/A|
Revenue to date: $0
Revenue Last Fiscal Year: $0
Previous Funds Raised: $900,000+ from Indiegogo
Use of Funds
- Commercialize Aido
- Fulfill crowdfunding product orders
- Continue ecosystem engagement
- Hire & grow the Aido team
As the home robotics industries is just starting to evolve, numerous companies could be interested in acquiring the Aido technology if successful. A major key for Ingen Dynamics will hinder on the ability to patent their technology. As Ingen is still in the process of filing for provisional patents the only current company value is the promotion they have been able to generate for the brand Aido along with the development team.
Recent Acquisitions in the Field
|Date||Company Acquired||Acquired By||Amount|
|June 25, 2015||Universal Robots||Teradyne||$285M|
|Dec. 4, 2013||Redwood Robotics||Unknown|
|Dec. 2, 2013||Schaft||$20M|
Expert Opinion Summary
Accomplishing $900k in preorders on indegogo is certainly an impressive feat. Ingen Dynamics has included many deal terms that are common in VC rounds but often lack in Crowdfunding rounds like voting rights, liquidation preferences and an established employee options pool.
My main concern is that Aido is still very much a concept and the company does not have a working prototype. The company claims to be shipping current preorders by late 2017 but that has already been pushed back from earlier promised dates to their indegogo backers. With Ingen only publishing financials from 2015 it is unknown if the capital raised from the indegogo campaign has already been spent on R&D. If this capital has already been spent, it could create a large liability for the company. The liability concern is validated by a handful of unhappy indegogo backers that have voiced growing impatience due to the shipping date being pushed back. Although the concept video is certainly impressive, there are multiple concerns that should be considered prior to investing in Ingen Dynamics.
Crowdfund Research and its authors do not offer investment advice, nor do we endorse or recommend investments in any company or the suitability of an investment for any particular investor. Crowdfund Research is not registered as a broker-dealer or financial or investment advisor and does not provide any services requiring such registration. The information in this report or on our website regarding any company is based on publicly available information or directly from the subject company. Crowdfund Research makes no representation or warrant as to the adequacy, accuracy or completeness of such information. Any opinions or forecasts expressed herein are our own, are not intended as investment advice and are subject to change without notice. This report has been prepared solely for informative purposes and is not a solicitation of an offer to buy or an offer to sell any security.
This report or the posting of information on our website regarding any company, including any links to information on our website, should not be construed as an endorsement or recommendation of that company for any purpose whatsoever. This report does not take into account the investment objectives, financial situation or needs of any particular investor, and each investor should consider whether any investment opportunity is appropriate given their investment objectives and current financial circumstances. Any person considering any investment in any equity crowdfunding investment whatsoever is encouraged to consult with their own investment or financial advisor, tax advisor and/or attorney beforehand.
All investments entail risk. The companies on our site are generally small or early stage companies and are subject to risks inherent in investing in any small or early stage company as well as other risks specific to their business and operations. In addition, securities of these companies may be highly illiquid, requiring that they be held for an indefinite period of time or have a limited market for resale. Therefore, no one should invest in any of these companies unless they have no need for liquidity of their investment and can sustain a total loss of their investment. You should only invest an amount of money that you can afford to lose without changing your lifestyle.
You should thoroughly review the complete offering materials for any investment opportunity, particularly all risk factors, prior to investing in any offering and become familiar with the investor requirements, investment limits and your ability to resell the investment.