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SPACEBANDS

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spacebands creates software and wearable technology that aims to make workplaces
safer.

171%
 - 
Funded 7 Apr 2022
£250,000 target
£428,514 from 181 investors
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BUSINESS OVERVIEW

Location Bristol, United Kingdom Social media

Website www.spacebands.com Sectors SaaS/PaaS Digital B2B Company number 12681754
Incorporation date 19 Jun 2020

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INVESTMENT SUMMARY

Type Equity Valuation (pre-money) £4.1M Equity offered 9.41% Share price £2 Tax
relief

EIS

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BUSINESS HIGHLIGHTS

 * Backed by a large Institutional Investor
 * 1,000+ Existing Customers, including NHS, MoD, Amazon & Panasonic
 * Featured on: BBC News, Sky News, The Independent, ITV
 * Part of #1 Business Incubator SETsquared & Workplace Accelerator

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KEY FEATURES

 * Secondary Market
 * Seedrs nominee min. £10.00 +

 * Idea
 * Key Information
 * Team
 * Updates
 * Investors 181
 * Discussion
 * Documents

 * Idea
 * Key Information
 * Team
 * Updates
 * Investors 181
 * Discussion
 * Documents


IDEA


INTRODUCTION

After gaining extensive press coverage and 1000+ customers globally with our
social distancing device (including the NHS, MoD, Panasonic, Sony & Amazon), we
are now pivoting to create a new multi-feature hazard alert system that will aim
to change the future of workplace safety, well-being and insurance.

The brand-new wearable and SaaS platform (app and web-app) will alert for a
multitude of hazards that aims to protect businesses by preventing workplace
injuries, reducing staff sickness, enabling workplace wellness whilst collating
a paper trail of live safety data points. Employers will be able to make
informed decisions about their workplace safety and will be able to monitor
workplace stressors whilst prompting employees to action wellness at work.

Privacy is at the forefront of development, all data will be anonymous unless
the wearable user (employee) decides to attribute it to themselves manually.
Effectively, an employee can decide if they want to track their safety and
stress at work and if not, their company can still benefit from the company-wide
dataset.


SUBSTANTIAL ACCOMPLISHMENTS TO DATE

Before the pandemic, we did not exist. Using only our personal savings,
spacebands has been built from a bedroom in Bristol, UK. When much of the world
ground to a halt in May 2020, we kicked into gear, selling wearable contact
tracing devices that alerts users when they get too close and break social
distancing. We have sold more than 16,000 products to upwards of 1,000 customers
across 30 countries and won government sales contracts. Starting in 2020 as just
a team of two, we have already proven that we can successfully bring a product
to market.

We have built powerful partnerships to ensure that our business continues to
thrive. We have completed The Workplace Accelerator (Singapore) and are members
of the UK's #1 Business Incubator Program - SETsquared (Bristol). The University
of Bath, University of Bristol and University of West of England have all
assisted in our growth with various research projects. UK Government-led
National Physics Laboratory have aided device hardware decisions and the
National Composites Centre (Catapult Scheme) are presently conducting data
science research to support product development.

New product development has been built from conversations with our existing
customer base: speaking with Heads of Health and Safety within companies such as
Tiffany & Co and Prysmian Group to name a few.

*Revenue figures are based on unaudited management accounts.


MONETISATION STRATEGY

The cost for not using our products could be huge. Businesses want to keep their
staff at work.

Our focus for sales will initially be on businesses within manufacturing,
production and construction: these are busy, physical workplaces with lots of
moving parts. In the UK alone, there are 2.7 million people working in
manufacturing. In 2019, 22.6% of the world worked in industry (manufacturing,
production, construction) - this equates to 1.8 Billion employees.

The industrial wearables market is set to grow to $3.1 Billion by 2026. We have
found a product-market fit in a growing sector.

Companies can manage their safety and well-being more effectively by using the
insights from the platform's data.

- Reducing incidents

- Increasing staff availability

- Showing employees they care about their wellbeing


USE OF PROCEEDS

As soon as this fundraising round closes, we will focus on growing our sales and
marketing teams, as well as bringing our tech in-house through new engineering
hires.

We also already have a clear eye on an exit strategy and we are building a board
to support this. There are many opportunities to exit with partnerships or
acquisitions. The hope for potential acquirers is from: Business Insurance
Providers and Brokers, HR Platforms, Logistics Providers...

B2B SaaS multiples are hot - almost doubling in 2020 alone from 6.5x to 12.2x.

We see a gap in the market for improved workplace safety and wellness reporting.
Join our mission to improve workplace safety for all.




KEY INFORMATION


VALUATION

The pre-money valuation for spacebands has been calculated on a fully diluted
basis, including all existing rights to equity that may convert and dilute
investors in the future. In this case, the valuation on the campaign reflects
(i) issued shares and (ii) the future right to equity given as part of their
involvement in the Workplace Accelerator which will be issued during this round.

Please note that the pre-money valuation of the business when taking into
account only issued share capital, is £4M.

Open an account to get access to the team members of spacebands

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted
access.

Buy shares



Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted
access.

Buy shares



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Investing involves risks, including loss of capital, illiquidity, lack of
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TAX RELIEF (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with
income tax relief of 50% of their investment and certain other tax reliefs. Tax
treatment depends on individual circumstances and is subject to change in
future. Click to learn more.


TAX RELIEF (EIS)

This business is eligible for EIS relief - providing qualifying investors with
income tax relief of 30% of their investment and certain other tax reliefs. Tax
treatment depends on individual circumstances and is subject to change in
future. Click to learn more.


VALUATION (PRE-MONEY)

Valuation rounded from £4,123,510


PITCH TYPE

There are 5 types of investment pitch available on Seedrs.

 * Equity
 * Convertible
 * Fund
 * Cohort
 * Secondary

Investing in a regular equity campaign is the simplest and most common way to
invest in a startup. You decide which business you want to invest in, and if the
campaign hits its funding target then you will become one of their shareholders.
As the company becomes more valuable, so do your shares; allowing you the
opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs


SEEDRS NOMINEE

This shows if you are able to choose, when making an investment, that you be
represented by, and your shareholding be managed by, the Seedrs nominee.

Find out more


CUSTODIAN

If you invest in this Campaign, Seedrs will act as Custodian rather than provide
our standard nominee service. This is due to the fact that the business is not
directly involved in the share sale and Seedrs will not benefit from any rights
under a shareholder agreement. As a result, Seedrs will handle administrative
tasks as we do normally, but you will not have information or voting rights,
updates from the business, preemption on future fundraising, or ongoing support
about business trading activity.

Learn more about Custodian here


SECONDARY MARKET

This shows if the business has opted-in or opted-out of allowing its shares to
be bought and sold on the secondary market.

Find out more


DIRECT INVESTMENT

This shareholding type is available and the minimum investment required to
select it.

Find out more


PAYMENT OPTIONS

We are not able to accept card payments for investments into this sector. You
can pay for your investment by creating a bank transfer, using funds in your
investment account or create a Pay by Bank payment. Your investment will only be
completed once the funds have reached our account.


BUSINESS INVOLVEMENT

This Campaign offers shares for sale in business that is not directly involved
in this Campaign or the sale. As a result, the Campaign and post-investment
experience, including investor rights, will differ from a business-led campaign
on Seedrs. Most notably, the business will not engage with investors in the
discussion forums both during and after the sale or provide any updates to
investors.

Learn more here


PAYMENT OPTIONS

We are not able to accept Pay by Bank payments for investments into this sector.
You can pay for your investment with a card payment, by creating a bank transfer
or by using funds in your investment account. Your investment will only be
completed once the funds have reached our account.


DRAWDOWNS

This campaign offers the ability to pay for an investment by drawdowns.