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Invest in ABBY by GOGOTECH

Safe, Advanced, Affordable, Personal Mobility

Last Chance
Closing on Dec 7 @ 11:59 PM ET
05
day
22
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39
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EARLY BIRD TERMS: $309,620 LEFT

$190,380

raised from 67 investors
INVESTMENT TERMS
 $10M  $8M valuation cap Future Equity
Early Bird Bonus: The first $500K of investments will be in a SAFE with a $8M valuation cap and 20% discount
LEAD INVESTOR
CEO, Next Level Developments
I made an advance purchase of an ABBY for my sister who runs the Child Life Program at Presbyterian in Albuquerque and needs to use a wheelchair at work. I've been following the continued progress and success at ABBY and would like to help it get to market. I'm looking forward to learning about what's in the software roadmap once they get ABBY into production and shipping to customers. I've seen many startups come and go, and Its not everyday I see a startup with a strong social purpose and unicorn potential. The need is there, ABBY is the solution

Highlights

1
‚≠ź Techstars '21 & XTC '22 Global Finalist
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ūüöö Dozens of pre-order deposits & over 1000 subscribers on waitlist - HELP US DELIVER!
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ūü¶Ĺ Production Ready
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ūüďú Patented Technology
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ūü¶ĺ ABBY is a companion & 150kg capacity household robot, not just a wheelchair
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ūüďą Powered Mobility Devices are a $4B market growing 15%+ annually

Our Team

Using wheelchairs since 1985, I know firsthand the strength required to use manual wheelchairs independently. Sadly today only 1M powered wheelchairs and 1M 3&4-wheel scooters are produced for a global market of over 200M adults with reduced mobility. The scarcity of powered mobility devices is a gross injustice. This is why the world needs ABBY

Pitch

Sadly, last year ONLY 1 million power wheelchairs and 1 million 3&4-wheel scooters were produced for a global market of over 200M adults with reduced mobility. The scarcity of Powered Mobility Devices (PMD) is a significant market opportunity and a gross injustice. This is what motivates our team, and why the world needs ABBY

And what’s worse, those 1 million powered wheelchairs were sold B2B as Medical Devices for $3.5B to 3rd party payors, but intended for use by just a tiny fraction of those in need.

As a category, PMD is worth over $4B today and expected to more than triple in just the next few years due to the massive unmet need, advances in lithium batteries & brushless motor technology, and a halo effect from mass production of other EV categories - like bikes, cars, skateboards & 2-wheeled scooters.

INTRODUCING ABBY

Loaded with advanced features & easy to purchase online with buy now pay later financing available for around $3,000, ABBY is a high-function Smart Wheelchair.

And CONNECTIVITY makes ABBY a platform so we can transcend hardware economics with subscriptions & develop our software business roadmap.

Smart Push-rim technology & the conventional rear-wheel-drive format, combined with Quick-release components give ABBY a competitive advantage in multiple categories and the largest possible serviceable addressable market.
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COMPETITION

The most affordable powered devices on the market today are mobility scooters - but they're unstable and anything with handlebars really can't maneuver in an indoor home use setting. 

Powered wheelchairs weigh hundreds of pounds, can cost tens of thousands, and require expensive vehicles with ramp systems to transport, and these still lack smart technology like cameras and sensors for safety.

Power-add-on kits are some of the best solutions on the market today but these typically cost $5000-$8000 and that's not including the wheelchair they are mounted on.  

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Forward-looking projections cannot be guaranteed.

Our conservative base plan ships 50,000 units in five years & achieves scalable growth with gross margin approaching 70% & 25% EBITDA on over $100M in year five sales, but we’ll be profitable after only 1500 units (around month 22).

Forward-looking projections cannot be guaranteed.

Our serviceable addressable market is 8M units/year and includes manual and powered mobility devices.

  • For Powered Wheelchairs, positioned as a primary chair for users at the lower-end of physical dependence spectrum AND as a more portable 2nd chair, ABBY can compete for at least¬†1/3 of the projected 3.5M units in the category (both¬†demographics are in our¬†pre-order customer set).
  • For Mobility Scooters, ABBY can go head to head for the entire home user segment ‚Äď that‚Äôs at least 1/2 of the projected 4.5M Units (excluding¬†courtesy and rental fleets for example¬†in shopping malls and casinos until we expand our focus to¬†target¬†B2B sales)¬†.
  • For Manual Wheelchairs, ABBY can compete for approximately half of the¬†projected 10.6M units (meaning MOST units not intended for wheelchair sports or patient transfers such as those found¬†in building lobbies and hospitals).¬†¬†ONLY ABBY & power-add-on kits costing twice as much are competitive for potential 1st time power chair buyers in this, the single largest mobility device category (by units).

With a Serviceable Market that's fully 40% of the total projected 2026 Powered Mobility Device market, our 50,000 unit five year target has significant upside potential.

Our PRODUCT & BUSINESS MODEL innovations create a substantially LOWER COST MODEL than the incumbents because:

  • We sell¬†direct to consumers¬†online and will¬†leverage AFFIRM buy now pay later financing.¬† We also¬†built an innovative product purchase crowdfunding option to tap into the "GO FUND ME" trend ($3.7B in reported medical expense funding¬†in 2020).
  • Quick-Release components mean no tools are required¬†so we can rely on DIY assembly and simple parts swapping shipments for service.¬†
  • Our roadmap¬†adds capabilities to leverage¬†our mobile APP to get customers engaged in a community support channel, plus¬†we will develop¬†ABBY online¬†training and¬†plan to build¬†"ABBY Certified"¬†directories for technicians¬†(everything from¬†bike shops to mobile installer/service fleet operators) AND¬†occupational and physical therapy professionals.
Forward-looking projections cannot be guaranteed.



Our pre-launch campaign traction identified most of what we need to reach profitability (2/3 of Y1 & Y2 target).

We are raising up to $1.07M on a SAFE for initial production and staffing key hires to ship our pre-orders & create inventory for our US launch.

Overview