NovoMoto

First quarter of 2020 was our best quarter to date!

founder @ NovoMoto

Published on May 1, 2020


Welcome to NovoMoto's Quarterly Update


NovoMoto provides clean electricity for off-grid communities in sub-Saharan Africa. NovoMoto’s rent-to-own solar-powered systems are less expensive, safer, and less polluting than the kerosene, diesel and disposable batteries currently used in these communities.

Overview: Growth Despite the COVID-19 pandemic
The first quarter of 2020 has been a period of growth for NovoMoto! Despite the additional precautions and challenges posed by the global Coronavirus pandemic, we had our best quarter of revenue to date! We added 61 new customers and have continued to provide critical customer service support to our existing customers.

COVID-19 Response

Our thoughts and prayers go out to everyone affected by the Coronavirus.
  • In an effort to protect our team members, customers and the general public, we have modified our operations to reduce the amount of person-to-person contact required for our sales and customer service activities. Our team is also equipped with the sanitary supplies necessary to reduce the risk of transmission of the virus.
  • 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!

  • Quarter 1 of 2020 has been our most financially successful quarter to date with over $30k in new customer contracts.
  • Our higher revenue was primarily due to sales from our new H100 24" TV kits with Greenlight Planet's products. We're off to a great start with the new kit!
  • Customers love their new TV kits and on average they have reported a 9.9/10 on their experience!


Next Steps

  • New customers: We are planning to do 150 new installations Q2 2020. In this quarter, we are focusing on marketing our H100 kit.
  • New order: Our new order for over 800 TV kits will be manufactured in Q2 2020.

Customer Testimonial: Joceline Nyamingi

"I am proud to day to say that I now live in the 21st Century because of how NovoMoto has transformed my home"

"Je suis très fière aujourd'hui de dire que je vie maintenant dans le 21 siècle parceque NovoMoto est venu pour révolutionner ma maison"

Fundraising: Raised over $650K in our seed round!

Update: We are now looking 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 $336K from 288 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 2,000 people have now gained access to reliable and renewable electricity to NovoMoto's solar kits
  • Over $25k in savings, relative to the average home in our sales region, has been made possible for our customer base
  • Several of our 25 partner clinics in the Maluku commune of Kinshasa have already started to bring us new customers.
  • We have continued to collect data from our 25 partner clinics, and the impact is incredible!
  • Over 100 operations were undertaken with bright and reliable LED lighting instead of flashlights, candles or kerosene lamps.
  • Over 600 children were born under modern lighting, helping improve the care they and their mothers receive.

Challenges

  • Road conditions have caused us to spend more than we expected on the maintenance of our motorcycles. We are exploring cargo motorcycle options that will potentially allow our technicians to transport equipment more securely and reduce our operating costs.

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

Acknowledgments

  • Doyenne Foundation: Thank you for your continued support in an unimaginably difficult time.
  • Wisconsin Women's Business Initiative Corporation (WWBIC): We are thankful for the support that we have received in dealing with the effects of the COVID-19 pandemic. The WWBIC team have been extremely helpful and responsive.
  • Wefunder: Thank you for your continued support in making our campaign successful.
  • Investors: 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]