Company Introducing Innovative Plant Identification App seeks Investors
Posted by: sally mechur on 12/13/2016 2:27:27 PM
Funding Needed:
$100k - $250k
Information Technology (IT)
Location :
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Business Description:
The Company is a Nevada-based C-corporation that was formed and is operated by the Developer and current CEO. For the last 18 years, he has owned and operated several digital media companies that focus on science and the environment. His initial company was a site that focused on space and space exploration. He then launched a second site which he owned and operated for 12 years before selling the company in 2014. He has recently purchased the domains which will be utilized to market and distribute the App as well as providing additional information about science and technology.

The plant identification App began as an idea when the CEO was walking around a friend’s yard and found a plant he could not identify. None of his friends were able to identify it either and this led him on a search for an easy to use and reliable plant identification program. At the time the technology was not available to support his vision. Now, four years in development, the technology is available to support the entire vision.

The company’s archive will house an inventory of over 200,000 different plants. Users will simply snap a photo of an unknown plant and the platform will automatically search the database for a match. In a matter of seconds, the user is provided with the file on that specific plan including its scientific name, where it can normally be found, its uses for landscaping, medicinal value, etc. The App also gathers information that can be used for education, gaming, safety, gardening, landscaping and so much more. The Company has completed beta testing of the App and is ready to ramp up for full launch into the marketplace.

Unique Value Proposition:
The Company employs Deep Learning which utilizes Deep Neural Networks (DNN’s) to teach computers to detect recognizable concepts by employing multi-layered artificial neural networks to assist or complete a task without human intervention.

The Company will generate revenue based on the “freemium” model that most Apps utilize. A free version of the App will be supported by advertisements and the premium version (which will sell for $1.99) will be ad free. The financial projections included in the available Business Plan are based on reaching 1 million downloads by the end of 2017 and growing to 20 million by 2020, which is a mere 1% of the target market of more than 1 Billion English-speaking gardeners, landscapers and nature lovers.

Key Risk Factors:
While there are a few plant identification programs on the market, most of these are based on older technology. Users sending in photos must wait as various individuals provide “their best guess” as to what the plant is. The platforms are cumbersome and offer sometimes provide unreliable information.

Key Success Factors:
The Company is based purely on image recognition software. Users take a photo, submit it and in a matter of seconds they receive the results on their mobile device. There is no chance for human error and no guess work involved. The Company’s platform is pure science and technology.

Important Milestone:
The Company’s platform has completed beta testing and presently has a library of over 250,000 images. Once funding is made available, it is anticipated that the App will be ready for full launch in a matter of months.

Exit Strategy:
The developer and CEO is open to a variety of exit strategies for investors. It is anticipated that all investors will receive payments equal to their initial investment plus an agreed upon rate of return by the end of Year 3. Investors who choose to retain their equity position with the Company will see additional benefits as the Company expands. At that time the Company may elect to continue along the same pathway, or the owners may choose to sell the platform to a competitor or take another option that could be more financially profitable.

Consumer Goods / Services
Technology / Software / Apps

2017 Projection: $3,278,474
2018 Projection: $5,986,824
2019 Projection: $11,816,696

Financing Sought

Use of Proceeds
$150,000 to be used to complete the work on the initial database with the remaining $100,000 to be used to cover the initial marketing and operations expenses.

Additional Documents Available
Business Plan, Slide Deck
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