Case: Selqee

logo-selqee-1280Despite of the fact that training programs are in the very core of fitness training, the tools to prescribe and deliver them are far from optimal. Strength training programs are mainly a bare list of prescribed movements without an explicit and systematic plan for personally optimized weight, repetitions and resting time. There’s no real time feedback nor analysis based on actual training session for the trainee or personal trainer. This applies even into mobile app based training programs, only exception being perhaps heart rate driven cardio training apps, which however, are not optimal for strength training. The challenge has been both receiving the training program and collection of training session feedback without requiring too much fiddle from the end user. To get best training outcome the program should be created and updated based on each actualized training performance. Selqee’s Repmax does exactly that. It’s a mobile app that allows personal trainer or trainee to set a certain goal, like gain muscle mass or increase strength endurance, after which the app creates a training program which changes in real time based on actual training performance. All this with excellent user experience.

Repmax is not just a tool for personal trainer to design and deliver personalized training programs to their customers, but also a tool for the end user to get the real time feedback based on training performance. Repmax automatically adjusts the training program during the training and allows in-depth analysis of the training performance after it.

Repmax is not just a tool for personal trainer to design and deliver personalized training programs to their customers, but also a tool for the end user to get the real time feedback based on training performance. Repmax automatically adjusts the training program during the training and allows in-depth analysis of the training performance after it.

Prior to Butterfly’s investment Selqee had bulk of the Repmax-product development ready as well as a number of well know personal trainers lined up for piloting the product.

“The health apps are one of the largest segments in app business. Yet, at the same time it’s very challenging to provide real, tangible added value while keeping the user experience at the top level. Based on feedback by top personal trainers, such as Jaana Kotkansalo, we’ve succeeded here. Butterfly has been very helpful from the beginning. We value particularly their coaching type of attitude and the frank, to the point, relations with them. Also, we are pleased of their great networks and ‘been there, done that’ experience in this segment. Already prior to the investment we went through numerous discussions that helped us to clarify the idea and business model” (Juuso Nissilä, CEO of Selqee)

Butterfly invested into Selqee because of founder team with plenty of both domain and startup experience, their deep insight into sports science as well as physiology and a product idea that addresses most of the end user issues in current gym training applications. Butterfly’s investment will be used to finalize and launch the first product version, validating the end user traction and securing the first few paying customers.

Case: Monidor

Monidor-logo-largeMost of intravenous infusion therapy is based on visual monitoring by humans and thus inaccurate. This causes extra work and frequent, often very serious, problems to patient safety. For instance, in abdominal surgery more accurate infusion therapy could reduce the complications by 59% and shorten the number of days in hospital by three. Monidor’s Monidrop is an automated infusion monitor. It helps the work of the nurses and improves the patient safety, saving work time of the nurses and shortening hospital stay of the patient. Unlike the competition, Monidrop is a small, very easy to use and cost efficient enough to be installed on the side of every hospital bed. Saving patient from even one extra day in hospital will pay back the device cost, reductions in the nurse’s workload makes the value proposition even stronger. As there’s over 3.5 million hospital beds in EU and US alone Monidrop has a billion-dollar market opportunity.

Prior to Butterfly’s investment Monidor had built a functional demo device and verified the designs with customers, conducted successful market research, started the development of production version as well as secured financing from number of angel investors and TEKES.

“Rheumatologist Antti Puolitaival, Co-founder of Monidor, noticed several years ago that traditional infusion monitoring devices are too complex for wider use in hospitals. That’s why we developed Monidrop. Clinicians’ and especially nurses’ feedback has been positive. It’s small and easy to use – that’s why they love it! Financing from Butterfly Ventures is obviously important for us, but in addition, their encouragement and business coaching has helped us to set our goals right.” (Mikko Savola, CEO of Monidor)

Butterfly invested into Monidor because they have a clear product idea with well-defined market. They also have a very systematic approach to operating the company and clear idea of customer / end user experience driven development process. Butterfly’s investment will be used to finalize and launch the first product version, validating the end user traction and securing the first few paying customers.

Case: Fascia Clothing

fascia-clothing-logo-18.4.2016Muscular balance is an important factor effecting the health. Imbalance can cause numerous problems, including joint injuries, back pain etc. Imbalance can be caused by numerous factors and it’s not just a problem of people who train too little. For instance, professional athletes frequently suffer this problem due to too little training of supportive muscles. Fascia Clothing’s patent pending garments prevent this problem. In effect they’re compression clothing for musculoskeltal system. The body balance is achieved by stimulating the body’s fascia-line network, i.e. utilizing the bio-tensegrity phenomena. It increases the effectiveness of any physical exercise and makes sure that it becomes balanced. In other words, also other than target muscles, including the deep inner muscles, which are maintaining the posture of the joints and the spine, will get the effect. It improves body awareness, control and coordination. Fascia Clothing is the next generation of billion-dollar compression clothing industry.

Prior to Butterfly’s investment Fascia Clothing had produced the first prototypes, secured an industrial partner and filed their first patent application.

“Our garments are suitable for all. While improving physical performance they help also to prevent injuries and for example back problems. Therefore, the market potential is not limited only to athletes. We’ve been discussing with Butterfly well before we were founded. They’re curious, very open for new ideas and their input has been instrumental while taking us where we are. Without Butterfly’s involvement we simply would not exist.” (Marika Heiskanen, Founder of Fascia Clothing)

Butterfly invested into Fascia Clothing because they have a unique elegant approach to making training safer and more effective. Their value proposition is much stronger compared to traditional compression clothing, which is already billion-dollar industry. Furthermore, their team has a great mix of deep physiological expertise combined with top-notch management and marketing talent. Butterfly’s investment will be used to manufacture the first product versions, secure further IP, validate the business model and securing the first few paying reference customers.

Case: StealthCase

stealthcase-logo-12.4.2016Modern society is increasingly dependent on wireless communications. At the same time requirements for energy efficiency in construction have been constantly increasing. Unfortunately, energy efficient construction obstructs also the radio waves causing multitude of low signal ratio related problems. While these problems can be addressed, existing methods are expensive and most of the time they do not fit into existing processes within construction industry. StealthCase tackles the problem where it is born: in the walls. The problem is solved by applying and integrating antenna technologies into construction materials making materials reradiate signals efficiently through them. Unlike traditional solutions, the cost of market adaption of these integrated structures are minimal compared to the customer dissatisfaction or competing solutions.

Prior to Butterfly’s investment StealthCase had filed several patent applications, created proof of concepts that validate the technology as well as started the pilot negotiations with several construction industry players.

“We’ve been discussing of the problem for several years. When Juha, one of the founders, presented the initial solution we instantly understood that we had something special at our hands. As our IPR portfolio expanded, it was clear that an investor was needed. Butterfly has proven to be an excellent partner with low bureaucracy, direct and open interaction and excellent advices in marketing, business model and strategy. We look forward on expanding our business with Butterfly.” (Janne Mansikkamäki, CEO of StealthCase)

Butterfly invested into StealthCase because of their elegant, cost efficient solution to clearly identified need driven by market trend, i.e. energy efficient construction. Every new and renovated building needs their technology. Furthermore, they have secured the core IP and have an agile, well executing team with plenty of experience required for this type of products. Butterfly’s investment will be used to expand the IPRs, finalizing the first product and getting the first few pilot customers.