Increased Growth in Spite of the Continuing COVID-19 Pandemic

The second quarter of 2020 has been our best quarter of sales to date. We installed 113 new customers, nearly double the 61 customers that we installed during Q1 of 2020!

Our Kits are Helping Customers Weather the COVID-19 Pandemic

Members of the NovoMoto team and its supporters have been directly affected by the Coronavirus. Our thoughts and prayers go out to everyone affected by the Coronavirus.

• Many of our customers have let us know that their NovoMoto kits are helping them stay connected, allowing them to more easily adapt to work restrictions and social distancing.
• Our customers have also let us know that their new TV kits are helping them stay up to date with their government's new policies, closures/openings, and guidelines during the pandemic.
• Our customer service team will continue to provide support to our customers and will do so while respecting the guidelines recently imposed by the DRC government and the WHO guidelines.

Key Performance Indicators: Best Quarter to Date - Two Quarters in a Row!

• Quarter 2 of 2020 has been our most financially successful quarter to date with over $57k in new customer contracts. This is nearly a 90% increase from Q1.
• Despite the ongoing pandemic and its associated challenges, our sales team has been able to increase its sales output to nearly 40 H100 TV kits per month.
• Our customers continue to report a great experience (9.7/10) with their new TV kits!

Next Steps

• New customers: We are planning to do 150 new installations Q3 2020.
• New order: We are expecting a shipment of over 800 TV kits to arrive in Kinshasa before the end of Q3 2020.
• Survey: We are performing a survey in several neighborhoods in semi-urban areas around Kinshasa to find the product-market fit there.

Customer Testimonial: Luban Mukie

"I am very happy to have my NovoMoto H100 TV system during this COVID-19 confinement. The system has helped us stay informed 24 hours a day"

"Je suis très content pour avoir reçu le système de NovoMoto pendant cette période de confinement car comme vous le savez bien ce système nous a vraiment aidé à rester 24h/24h informé"

Fundraising: Raised over $680K in our seed round!

Update: We are now looking to close our seed round at $1M to enable our growth to 5,000 customers by the end of Q1 2021

• $318K Raised from angel investors outside of Wefunder
• We have raised over $365K from 332 Investors through Wefunder
• You can find the Wefunder campaign at: https://wefunder.com/novomoto

Please share our update, Wefunder campaign, website or contact information with anyone who you believe may have an interest in becoming a NovoMoto investor

Impact

• Over 2,600 people have now gained access to reliable and renewable electricity with NovoMoto's solar kits
• Over $34K in savings, relative to the average home in our sales region, has been made possible for our customer base

• More than 10% of our new customers over the last two quarters have come to us from our partner clinics.
• We have continued to collect data from our 25 partner clinics, and the impact is incredible!
• 148 operations were undertaken with bright and reliable LED lighting instead of flashlights, candles or kerosene lamps.
• 983 children were born under modern lighting, helping improve the care they and their mothers receive.

Challenges

• High marketing and customer service costs in the areas of operation: The low population density of many of the areas of our newer customers has increased our marketing and customer service costs. We are performing a survey in several areas closer to central Kinshasa to find a product-market fit in some more densely populated areas.

How You Can Help

1. Please share our update, Wefunder campaign, website or contact information with anyone who you believe may have an interest in becoming a NovoMoto investor
2. Please share your ideas on how we can accelerate our fundraising, so we can get back to growing NovoMoto 100% of the time.
3. Please post about our Wefunder campaign on social media

NovoMoto in the Media

• NovoMoto was mentioned in a recent BizTimes article. You can find it at https://biztimes.com/clean-electricity-startup-novomoto-raises-318000/

Acknowlegements

• Wisconsin Women's Business Initiative Corporation (WWBIC): Thank you for your continued guidance and support.
• Wefunder: Thank you for your continued support in making our campaign successful.
• Investors: Thank you for your confidence in our team. Your feedback and comments were very helpful. We appreciate all the input
• Mentors: Thanks to all our mentors for all the suggestions and support.

Sincerely,
The NovoMoto Team
[email protected]