Question 1

Greetings, I have a couple questions: 1) Are the proprietary nutrient pods sold with it required to grow food, or can other nutrient mixes/products be used with the hydroartpod? And 2) Are the seeds and nutrient packets nonGMO as well as organic, and can I find a list of those...

Accepted Answer

Hi Nyamekye. We wanted to allow as many people as possible to be able to grow at home, so we specifically designed the HydroArtPod so that people could use their own nutrients and seeds with it. If people wish to source these themselves and they choose wisely, they will get great results. The nutrient pods and seeds we offer have all been repeatedly tested to maximise results in the HydroArtPod. We believe the majority of people will go for our consumables simply for the convenience and reass...

Question 2

Do you have an initial price set for the products once they are being sold post-IndieGoGo campaign? I work for a seed/early-stage VC firm and would be interested in speaking with you further

Accepted Answer

Hi Ryan, thanks for getting in touch. Once we switch to ecommerce the introductory retail price will revert to $949 for a standard device and $1049 for device with ambient lighting. We will also offer a subscription package which will incorporate the cost of the device and the consumables so the user can spread the capital cost over 24-36 months, thus making the purchase decision much easier. Please contact me on richard@hydroart.co and we'll arrange a call to go through in more detail. Richard

Question 3

Hello, I really love what your doing here. Would you be able to answer honestly about how this compares to another competitor IGWorks (https://wefunder.com/igworks)? Would love to hear from you how they differentiate, even if not all positive (Water consumption, electricity an...

Accepted Answer

Hi David, thanks for your comment. What makes our proposal unique is that our system is a lifestyle system, not just a growing device. This means that we have taken the hassle out for people to need and think about growing or harvesting at home. IG Works growing device requires customers to mix, measure and monitor plant food and pH levels for example (you can see on their website (pH control kit). When you ask people to be so hands-on to manage pH levels for example, that can be a real heada...

Question 4

Hi Richard, what is the price per share please ?

Accepted Answer

Hi Anthony, thanks for your question. Ours is not a priced round, so each share doesn't have a price a such. What happens is that you can buy a certain % of company ownership now, which is converted into shares at our next funding round (or exit). The valuation of the company at that point will then determine the value of your ownership share. So if you invest $5000 you will receive shares equivalent to 0.1% ownership, based on our current valuation cap of $5m. If after x years we then exit a...

Question 5

Hi, you have two years of operation but zero revenue, what's the issue there? Don't you have any real customer willing to pay for your product? may I know more about that? after how many years will you plan to break-even?

Accepted Answer

Hi Mirko. We spent several years on product development, working through many prototype versions. A few months ago we had our initial product pre-sales launch (limited to certain markets only) and thus earned our first revenue ($113k). We are now focused on getting to production and shipping units. We will break even within 6 months of steady monthly revenue.

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