Case: Foodiac

Foodiac LogoConsumers and businesses want more unique and personal dining experiences. At the same time chefs would like to make name and have variety for their work which typical restaurant job doesn’t offer, as well as earn some extra income. Foodiac is a service to facilitate this, it allows anyone to book the best chefs around to cook at their home or corporate events. For chefs it allows easy end-to-end management of customer flow. Foodiac will disrupt the whole $33 billion in-home catering and $36 billion B2B event catering markets, while also challenging the fine-dining restaurants globally.

Foodiac connects the best chefs around with the consumers.

Foodiac connects the best chefs around with the consumers.

Prior to Butterfly’s investment Foodiac has proven the business model locally in Finland by attracting nearly 100 service providers, generating superb metrics, including >1000% google ads ROI, nearly 100k€ incoming monthly RFQs and over 150k€ worth of revenue.

“The market of in-home and event catering are completely untapped markets. Also the restaurant industry has trouble matching the growing requirements of customers. We at Foodiac noticed this opportunity and the response from the markets has been amazing. We’re glad to have Butterfly backing us both financially and with the wide experience they have in growing startups. We just launched in United Arab Emirates and the metrics look even better than in Finland. We are further expanding the concept to Germany in 2015 and using the knowledge of Butterfly to plan the next steps in conquering the world.” (Miikka Mäkiö, CEO of Foodiac)

Butterfly invested into Foodiac because of very professionally carried proof of business pilot in Finland with extraordinary metrics. The team is hard working, smart, agile and capable of delivering results professionally. Butterfly’s investment will be used to validate the business model in international markets outside of Finland.

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: NWG Tools

NWG Tools logoTiling in construction sites is traditionally labor intensive and requires plenty of manual work. NWGTools has invented a patent pending method that will improve the efficiency of tiling by 20-150%. As the construction business is heavily competed and margins of subcontractors low the efficiency increase means over 200% increase in the margin of an average tiling contract. With such market dynamics there’s no one who could afford not to use NWGs method once it’s launched. That’s a real revolution in the tiling.

A-tile makes tiling over 100% more efficient than using traditional methods. That's several hundred percent increase in margin of a tiling contractor.

A-tile makes tiling over 100% more efficient than using traditional methods. That’s several hundred percent increase in margin of a tiling contractor.

So far NWGTools has built a proof of concept product which has been able to prove the efficiency increase in a real construction site on a real tiling contract.

”At first we were contemplating between traditional angel investor and Butterfly Ventures. Fairly soon it became evident however, that Butterfly, due to their experience and business knowledge, would be a superior partner – also for the longer run. The benefits were clear. Already before the investment Butterfly helped us to develop an excellent way to protect our business and intellectual property rights.” (Sami Jussinniemi, CEO of NWGTools)

Butterfly invested into NWGTools because the value proposition is exceptionally clear and simple. NWGTools has found a really neat way to patent the key technology and unlike most cases it seems to be both difficult to go around and easy to enforce. Furthermore the market potential for such product is several hundred millions. The team has excellent industry expertise as well as demonstrated commitment and capability of operating lean. Butterfly investment will be used to build the first commercial product version, further validate the value proposition with the customers and acquisition of key reference customers.