Introduction
CyberStroller is the world’s first multi-terrain smart stroller. Designed and developed by inventor Stephen Senior and his team of world-class product designers and engineers, he recognised that the performance of a stroller could be radically improved through innovative technology. Stephen decided to reinvent the stroller for a generation of new parents, raised on technology, looking for an intelligent stroller that fits seamlessly with their world of increasingly smart homes, cars and workplaces.
Project Outcomes
- £512,000 secured in investment
- Letter of Intent for up to 30k units from Dorel Juvenile
- Design for manufacture with the world’s largest stroller company
- President of a global consumer product giant joined the team.
Size of the round
£512,000
Stage
Seed
Category
Hardware
Location
UK
The Challenge
CyberStroller needed further investment to continue its journey of disrupting the industry.
“We had a bold vision to completely reshape the baby stroller industry with our product. We knew there was a significant gap in the market and had the utmost confidence in CyberStroller’s innovative design. We needed someone who shared our vision for the future and found this at Overfunded”
- Stephen Senior, Founder of CyberStroller
- Stephen Senior, Founder of CyberStroller
Stephen was introduced to Overfunded by Patrick Byrne, an Ecosystem Manager at Barclays Eagle Labs.
The Journey Towards Investment
Cyberstroller had an ambitious goal of raising funds to enable the production of tooling, prototypes and manufacturing. With designs and patents in place, we needed to convince future investors to buy into the vision of the founding team, bring onboard partners and generate early traction to add weight to the pitch and make it an exciting investment opportunity.
We worked on the project in three stages over the course of nine months.
Stage 1 - The Assessment - we identified our position in the market, strengths and weaknesses and on the back of the assessment created a roadmap.
Stage 2 - Fundraising Assets - Together we developed a pitch deck, visuals, message, and website.
Stage 3 - Investor Outreach - with fundraising assets and traction in place, we ran warm introductions, cold outreach, crowdfunding and showcased Cyberstroller at one of our pitch events.
We worked on the project in three stages over the course of nine months.
Stage 1 - The Assessment - we identified our position in the market, strengths and weaknesses and on the back of the assessment created a roadmap.
Stage 2 - Fundraising Assets - Together we developed a pitch deck, visuals, message, and website.
Stage 3 - Investor Outreach - with fundraising assets and traction in place, we ran warm introductions, cold outreach, crowdfunding and showcased Cyberstroller at one of our pitch events.
STAGE 1
The Assessment
The Assessment
To kick-off the project, we assessed Cyberstroller’s initial position by running a thorough assessment using our specially adapted 5T framework that examines five areas of your business:
- Team
- Technology
- Timing
- Terms
- Traction
This framework gives Overfunded the data it needs to create a detailed plan of action towards investor readiness. Overfunded assessed these five areas of CyberStroller’s business and developed a roadmap to ensure that stage three of our process delivers ample opportunities for investor meetings and prospective investments.
STAGE 2
Fundraising Assets
Fundraising Assets
The assessment of the Cyberstroller led to the creation of fundraising assets to sell the vision to investors, partners, and customers.
We developed:
We developed:
- Story & Message
- Branding
- 3D Renderings of the product
- Website and Landing Pages
- Video advertisement
- Pitch deck
The digital assets and story we developed aligned with the innovative design of the CyberStroller product. In order to achieve this goal, Overfunded employed the use of a luxury-car-style configurator to highlight the different needs of the consumer and the freedom for each customer to personalise the product to their personal needs.
The digital fundraising assets provide added value to the company’s appearance, communicating to investors both the value of the product and the company. Overfunded uses digital fundraising assets to make start-up businesses stand out, instead of blending in with hundreds of other decks investors receive every month.
The digital fundraising assets provide added value to the company’s appearance, communicating to investors both the value of the product and the company. Overfunded uses digital fundraising assets to make start-up businesses stand out, instead of blending in with hundreds of other decks investors receive every month.
STAGE 3
Investor Outreach
Investor Outreach
The third step of Overfunded’s Investor Readiness process is the final and most important step towards securing the investment needed to scale up. CyberStroller received an initial round of investment but came to Overfunded to expand its opportunity for more investment. Investor outreach is a challenging stage for most companies, but it can be even more demanding for those in tech hardware. Overfunded went down a number of avenues to help CyberStroller secure the substantial investment it needed, including:
- Warm introductions to VC’s, Angel Investors and Private Offices
- Cold Outreach to Investors in the UK and the US.
- Equity Crowdfunding
STAGE 4
Demo Day
Demo Day
As part of our outreach efforts, we invited Cyberstroller to one of our demo days, where their business was introduced to our investor community and start-up ecosystem.
Through this, CyberStroller was able to get additional investment opportunities and accelerate its fundraising efforts.
Through this, CyberStroller was able to get additional investment opportunities and accelerate its fundraising efforts.
