Problem
It’s almost impossible to track your swimming performance in real time, because all current sports and activity trackers are wrist-wear. Also swimmers struggle to follow their training program and monitor how close or far away from a goal they are.
Solution
OVAO is the unique most convenient and most comprehensive Virtual Training Assistant for swimmers and triathletes. It provides real time coaching advices according to pre-selected training programs and enables swimmers to improve their performance instantly. Also Ovao tracks and analyzes all most important swimming performance parameters.
How it works?
It’s easy to train with Ovao. Swimmer selects a training program or creates his own in OVAO APP. Attaches the device to his swimming goggles and jumps into the pool.
During the workout he gets real-time color-coded coaching advises on his training intensity, indicating whenever he needs to speed up or slow down to keep up the maximum efficiency on his program.
After the workout using Ovao APP swimmer can analyze workout progress and most important swimming performance parameters: lap time, lap count, distance swam, swimming pace, heart rate, stroke rate and calories burned.
Value proposition
- The only device on the market that provides real-time coaching for swimmers;
- OVAO can be attached to almost any swimming goggles;
- Convenient real-time feedback without training interruption;
- Pre-loaded training programs for different training goals;
- Embedded tempo trainer;
- Accurate heart rate measurement, compared to wrist wear devices;
- Analysis of the most important swimming performance parameters.
Market
We are targeting markets worldwide were swimming is among top 5 sports activities. In these markets we are targeting all types of active swimmers: fitness and recreational swimmers, results oriented swimmers, professional swimmers as well as triathletes. There are 33 millions of active swimmers and a market size of swimming trackers amounts to $0,5BN in these markets. The number of trackers used by swimmers is expected to triple by a year 2020.
Validation
We have conducted an extensive survey with 400 swimmers from Netherlands, UK, US and Lithuania and 66% of them confirmed their willingness to purchase OVAO Virtual Training Assistant.
Moreover, during interactive survey conducted in Media Markt stores in Belgium and Netherlands while showcasing OVAO Virtual Training Assistant, 83% of respondents confirmed their willingness to purchase our device and most importantly 63% of them indicated that they would buy it for a price above 200 EUR.
Market fit also being proved by a number of inquiries we are receiving from different retailers and distributors regarding OVAO Virtual Training Assistant availability: Best Buy, MediaMarkt, b8ta, SwimOutlet.com (biggest US online swim-shop) just few to mention.
Testimonials
“Using heart rate training you would significantly improve efficiency of your workout and boost your swimming performance.” Swimming World Magazine
“Presents a tremendous opportunity for swimmers, triathletes and coaches, as it will be possible to create targeted, specific, individualized programs for athletes and to track their execution of those programs accurately – even in the largest of squads.” Swimming Technique
“Gadget guidance is moving up a gear as the ‘performance tracker’ morphs into a training assistant that swims with the swimmer every stroke of the way.” SwimVortex
“Until now amateur swimmers had been left out to dry. The inability to look at their wrist mid-stroke made it impossible to adapt many of the existing devices to their needs, but now they have a smart training assistant of their own: the Ovao” PSFK
Media
OVAO was featured in different business, technologies and sports media worldwide: Swimming World Magazine, Swimming Technique, SwimVortex, SportTechie, PSFK, E52, Verslo Žinios and many more.
Links to media:
Swimming World Magazine: OVAO Swimming World Magazine
Swimming Technique: OVAO Swimming Technique
SwimVortex: OVAO SwimVortex
SportTechie: OVAO SportTechie
PSFK: OVAO PSFK
E52: OVAO E52
Verslo Žinios: OVAO Verslo Žinios
Team:
In our team we have two brilliant biomedical engineers Justinas Gasparovičius and Marius Gailius, both awarded in a number of international engineering competitions, highly experienced embedded programmer Mindaugas Tinteris, a marketing professional Kamilė Butkevičiūtė, founder of her own marketing agency, and Aldas Juronis as CEO with more than 20 years of experience in sales and business management.
Aldas Juronis – CEO
Kamilė Butkevičiūtė – CMO
Justinas Gasparovičius – Head of R&D
Mindaugas Tinteris – Embedded SW Engineer
Marius Gailius – Biomedical Engineer
Current status
We already have working prototype that is being tested with different swimmers in Netherlands and in Lithuania so we could further improve algorithms and user experience. Industrial design is being prepared in Netherlands under supervision by a Dutch design studio ACE. We expect to finalize R&D of the OVAO Virtual Training Assistant by the end of 2017 and to run a first batch of production in Q2 2018.
USE OF INVESTMENT
Money raised during this funding round will be used as follows:
47% – preparation for production: including tooling, test benches, certification, package design;
28% – BOM cost of a first batch of 1.000 units;
10% – App design and development for iOS and Android platforms;
10% – sales and marketing;
5% – administration expenses.
In a case only minimum amount will be raised (100.000 Eur or slightly above), then initial production batch will be limited to a number of pre-orders, that will be secured during Kickstarter campaign, which expected to be in a range of 300 units.
