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: 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.

Case: OptiWatti

OptiWatti_LOGO_mintgreen_CMYKHeating and cooling are one of the most significant usages of energy in a household. At the same time most of the current electric heating systems are fairly simple, they don’t take into account factors like thermal capacity or usage patterns of the space, nor weather forecasts. OptiWatti is a fully automated system to optimize the heating that can save up to 50% of the heating costs. At the same time it improves the comfort and control by providing a very user friendly mobile app that makes the control and adjustments of the system a breeze.

OpttiWatti provides a extremely easy to use user interface for both mobile and desktop, that makes the monitoring and controlling of the indoor temperature a breeze.

OpttiWatti provides a extremely easy to use user interface for both mobile and desktop, that makes the monitoring and controlling of the indoor temperature a breeze.

Prior to Butterfly’s investment OptiWatti had launched the first version of the product generating 40k€ of monthly revenue with very satisfied customer base, filed patent application for core IP and secured growing reseller network in Finland.

“Energy efficiency has major impact into our everyday life. Pressure to find new ways to save energy and balance demand-response is growing. According to EU commission, the market size for demand-response alone in Europe is more than €100 Billion. Our mission is to provide easy and effective solutions to this challenge. We’ve introduced a hassle-free room level heating optimization, which is the most effective way to implement demand-response. Butterfly is a perfect partner for us in addition to financial resources, they’re providing international expertize and energizing support.” (Juha Marjeta, CEO of OptiWatti)

Butterfly invested into OptiWatti because of their great team with plenty of business experience and the product that has an excellent user experience and very promising traction. Furthermore OptiWatti has a significant market opportunity not just in Scandinavia, but also internationally. Butterfly’s investment will be used to scale up the sales in Finland and test the traction internationally.

Case: Movesole

movesole-logoA leg injury means time wasted from exercise. Immobilizing the movement is the fastest treatment for most injuries, but the speed and quality of recovery can be enhanced by progressively increasing the leg mobility. However, it’s very difficult to say, what’s enough and what’s too much. Movesole app and smart insole tells it exactly, by making a very accurate map of underfoot pressure on each step. This cuts required recovery time and cost. Furthermore Movesole can help for example casual athletes while fine tuning their running style.

Movesole app and smart insole gives a clear accurate map of the underfoot pressure. The information is crucial while optimizing the recovery from leg injury.

Movesole app and smart insole gives a clear accurate map of the underfoot pressure. The information is crucial while optimizing the recovery from leg injury.

Prior to Butterfly’s investment Movesole had developed a technology proof of concept version of the product and secured the first major customers.

“Rehabilitation is our first target market. However the biggest opportunity we see in normal people’s exercise. There are over 100 million running shoes sold annually in US and Europe alone. The trend of measuring more and more of our daily life together with technology development will take us to next phase where Movesole insoles will be part of everyday exercises, regardless what your exercise method is. Butterfly’s team’s understanding of how to successfully scaling business have been and will be very useful support for us.” (Eero Kaikkonen, CEO of Movesole)

Butterfly invested into Movesole because they had a great balanced team with plenty of HW, SW and startup experience, as well experience and existing contacts to their first target segment, medical rehabilitation industry. They have an excellent product concept with a large market opportunity and room to scale up to consumer markets as well. Butterfly’s investment will be used for launching the first product version and validating the business model and market opportunity.

Case: Augumenta

augumenta-logo-27.10.2014Augmented reality (AR) might sound like a science fiction, yet there are many industrial applications where AR is being deployed already today, for instance in warehousing and service operations. Typically AR brings in loads of information in meaningful way to the task at hand that speeds up the work and reduces the number of errors. However AR hasn’t been very interactive, thus limiting the power and uses of it. AR represents paradigm shift in device user interaction and requires reliable advanced means of interaction such as hand gestures. Augumenta is forerunner here, delivering fast, reliable and energy efficient gesture detection and virtual inputs for AR interaction as an easy to integrate SDK for application and device vendors.

There are wide variety of industrial applications where AR becomes handy, like identifying the right pipe and operating field automation on the spot.

There are wide variety of industrial applications where AR becomes handy, like identifying the right pipe and operating field automation on the spot.

Prior to Butterfly’s investment Augumenta had finished the minimum viable product and secured two industrial system integrators, who are now evaluating the package. Furthermore they have one granted patent and two more filed, securing the related IP.

“Augumenta was founded with a clear mission: to make wearable devices convenient and easy to use. Smartglass is a powerful tool for enterprises, and when equipped with our interaction solutions, they enhance productivity at workplace, resulting in significant cost savings. We focus on bringing our technology to different industry verticals, while expanding our product offering and patent portfolio. Wearable devices are a dynamic, fast-developing market with some unique challenges. We are delighted to have Butterfly as our investor; their vast experience in business strategies and IPR management is a great asset for taking Augumenta to the next level.” (Tero Aaltonen, CEO of Augumenta)

Butterfly invested into Augumenta because of their innovative market approach that allows them to jump ahead before the consumer mass adoption of AR. Their product offers easy path of AR integration, way smoother gesture detection and AR interaction as well as substantially longer battery life than competing products. Another key driver for the investment was the highly professional PhD level founder team with years of relevant industry experience. Butterfly’s investment will be used for confirming the product market fit and securing the first few major customers.