Case: Kyynel

Gold_ball_hiresKyynel will change the way data is being transferred in remote areas. They are able to provide global coverage and offer similar or better quality of service than satellite communication does, without the cost of operating satellites. Kyynel’s solution requires only a low-cost radio system to provide global connectivity. This bestows huge value for e.g. shipping industry, which is currently heavily dependent on satellites. The satellite data communications is an industry worth of billions. Kyynel’s market opportunity lies in taking over the vast majority of it.

Kyynel provides state of the art high frequency terrestrial data communications system to replace the satellite data.

Kyynel provides state of the art high frequency terrestrial data communications system to replace the satellite data.

Prior to Butterfly’s investment Kyynel has developed and protected a huge technology base around the field necessary for the service. They also have developed the initial product versions required and secured a couple of significant pilot customers.

“Early days of radio relied mainly on longer wavelengths which allow to cover longer distances. However, there have been several data density and reliability issues when transferring data using traditional radio systems, making most commercial users change to satcom and other systems. In Kyynel we have been able to solve the usability problems of traditional radio systems, making it possible to offer a global connectivity that is reliable, secure and always online. We have been discussing with Butterfly for over a year and have strong confidence in their ability to help while going international. Now that it’s time to launch we felt it was also the right time to take them on board to help to do it successfully”, (Toni Lindén, CEO of Kyynel)

Butterfly invested into Kyynel because of the unique market opportunity and Kyynel’s extraordinarily deep knowledge of the field. In addition there is a strong IPR portfolio, existing industry with ongoing budgets, business model with a steep monetization curve and technology that allows to go around most critical mass challenges faced by other similar exercises. Butterfly’s investment will be used for further development of the commercial product, launching the service and securing the first few international customers.

Case: Pint Please

Pint Please logoMicrobrewery phenomena has opened ever expanding number of options for beer drinkers, but how to choose what to drink and where to go to? Pint Please is a mobile application that makes it easy, it recommends the beer based on ones’ taste and shows the availability on pubs. In essence, Pint Please is leveraging the long tail phenomena, where people’s tastes are dividing into smaller segments and at the same time creating a need for personally tailored information. Beer industry, including the pubs, is a huge industry involving hundreds of millions consumers and xx of marketing money. While Pint please offers a convenient marketing channel for beer industry and pubs, it also allows the consumers easily find what they like. It’s a true win-win for both.

Pint-Please-3-in-one

Pint Please makes it easy to find the beer you like and the venues selling it. Pint Please recommends the beer according to your previous taste.

Prior to Butterfly’s investment Pint Please had made a test launch in Finland with promising metrics, acquired several paying customers and secured the key partnerships for UK launch.

“We love the beer and Pint Please is in the heart of one of the biggest trends in the world, the long tail. Traditional marketing has been just push, push, push -type, whereas Pint Please is really about the ones taste and allowing pubs and breweries to meet the taste. Everyone wins; we, beer lovers get better beer, breweries will know what kind of beer they should brew and pubs know what they should offer. At the same time, it’s a hundred million market opportunity. We’ve kept the Butterfly guys in the loop from the very beginning. The ongoing dialogue with them has helped us along the way a lot for instance with the business model. It seemed just natural to bring them in, when we had initial market proof and felt we’re ready for going international.” (Juha Karppinen, CEO of Pint Please)

Butterfly invested into Pint Please because of very promising business model with huge market that has shown to be able to generate significant revenue early on, already without millions of users they’re aiming at. This type of monetization capability is very rare among mobile applications. Furthermore the team represents excellent mix of technological and marketing talent as well as enthusiasm towards beer. The communication and co-operation has been easy. Butterfly’s investment will be used for UK launch and further development of the application as well as securing the first major international customers.

Case: CaddieON

CaddieOn LogoProfessional athletes use all available information to improve their performance. In golf, collecting the data requires a load of statisticians who follow the players and record each shot. Amateur golfers would love to have the same means to improve their performance as well. However, all the prior solutions either require too much concentration on manual data collection or one needs to pay big money for a live caddie to do the job. CaddieON allows automated golf data collection. The patent pending product enables the round events to be recorded shot by shot, shared and broadcasted in real time. Even better, player can compare his performance with other players and compete in all game details, not only with total round score. Instead of gadgets, you get to focus on game and play better. Now, that’s a strong value proposition for a golfer.

The CaddieOn wristband automatically detects the strokes and the club used for it. There's no easier way to keep track of your golf game play.

The CaddieOn wristband automatically detects the strokes and the club used for it. There’s no easier way to keep track of your golf game play.

CaddieON has launched the product and starting the sales in Finland during summer 2013. Prior to investment it has already announced cooperation with half a dozen golf courses in Finland and collected crowd funding from Finnish golfers worth 13 thousand euro.

”There are 60 million golfers in the world. CaddieON will lead the way in giving the golfers most value for their golf and making golf more rewarding, enjoyable and interesting than ever. The international market potential is worth several hundred millions. We wanted to have an investor who can help us with business models as well as finding the right partners. Butterfly was our best choice and shares our passion for lean customer driven development.” (Tuomo Lalli, CEO of CaddieON, Inc.)

In addition to automatically created golf game play record the CaddieOn mobile app has all the features you would expect from a golf app and there's many more coming up.

In addition to automatically created golf game play record the CaddieOn mobile app has all the features you would expect from a golf app and there’s many more coming up.

Butterfly invested into CaddieON because the patent pending product concept allows superior ease of use and thus stronger value proposition for golfers in a market worth of several hundred millions. Furthermore the business model offers several avenues for monetization. The CaddieON team has shown both the ability and commitment. Finally their ongoing crowd funding campaign has already gained significant traction among their future customers. Butterfly investment will be used to validate value proposition and establish the required metrics to leverage the valuation up for follow-on financing rounds.