FLUUX

FLUUX

A revolutionary smartphone accessory that empowers users to quit vaping

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Security Type
Debt/Note
Categories
Other
Min Investment
$1,000
Location
Palo Alto, CA
Offering Date
March 19, 2020
Expected Close Date
June 17, 2020
Target Raise
$300.00K-$750.00K
Deal Notes

Round type: Seed Round size: US $750,000 Minimum investment: US $1,000 Target Minimum: US $300,000 Raised to date: US $25,000 US $0 (under Reg CF only) Security Type: Convertible Note Conversion discount: 20.0% Interest rate: 5.0% Note term: 24 months

Company Description

A revolutionary smartphone accessory that empowers users to quit vapingCurrent legislation prevents manufacturers from making fundamental design changes to their vaporizers without FDA approval. Due to this obstruction, vaping companies have been unable to release devices that monitor. This absence has created a void of behavioral data for advertisers, researchers, health and human services, insurance, and manufacturers. In response, FLUUX has created a solution that leverages analytics, technology, and doctor expertise to help empower users to quit.For a solution to catch on with our target market, we knew that we needed a trojan horse - something that could give them the resources to quit without being combative. Our solution is FLUUX.This smartphone case solves two major issues that every vape user experiences  - Vaporizers are often misplaced, and also quickly run out of battery.FLUUX's smartphone battery case has a location to both store and charge a JUUL safely and discretely (with more brands to come). When paired with the FLUUX mobile app, users can track their vaping usage through detailed analytics. The app also allows users to sign up for a bespoke pod auto-ship program, set reduction goals, and get support or counseling from medical professionals and peers.We offer a direct to consumer business model, but we are pursuing new channels for expanding to health & human services, employers, and insurance providers.The data we are collecting is very valuable to insurers, employers, and manufacturers alike. Thus, we hope to turn our unique data set into an enterprise data product over the next 12 months. FLUUX was a participant in the Plug and Play Vape Tech Accelerator Program, which concluded in December 2019.FLUUX also engaged in a paid Pilot for a white-labeled version of a smartphone battery case and app for  JUUL's competitor, LOGIC Compact.The FLUUX is fully UL/CE/FCC listed, shipping this March.

Key Deal Facts

Founded by three serial entrepreneurs, with a total of 4 exits, and earned awards such as being put on the Forbes 30U30 List
FLUUX participated in the Plug and Play Vape Tech Accelerator, which resulted in a paid pilot with Japanese Tobacco International (JTI) to create a FLUUX case for JTI's Logic Vaporizer
Advisor Deb Messina-Kleinman is the author of The Complete Idiot's Guide to Quitting Smoking and a contributing editor of How to Help Your Patients Quit Smoking
Global smoking cessation and nicotine de-addiction products market was estimated to be $14B in 2018, and is projected to grow at a CAGR of 20%, leading to revenue of $39B by 2023

Use of Proceeds

Marketing/Advertising, Salaries/Contractors, New Product Development, Operations

Management Team / Advisory Board Bios

Chadwick Manning
CEO
A Forbes 30U30 and Grist 50 Honoree. Manning founded Electriq Power, an energy storage and energy management solutions company that is thriving, having just closed a deal for Panasonic to white-label its residential energy storage product. Manning has raised over $15M in Capital in his career and generated $30M+ in revenues at his companies.

Colin Barceloux
CMO
Stanford GSB/Y-Combinator/StartX Alumni; Barceloux has raised over $65M in financing and generated over $150M+ in revenues. He founded and exited BookRunner, on online marketplace for textbooks, to Chegg as well as successfully exited Axius, a smart-home network monitoring platform, to Domotz and Techmate, an on-demand technical support service, to private equity.

Himanshu Shah
CTO
Himanshu Shah is a technology expert whose work has touched millions of people around the world. He is passionate about creating habit-changing products to solve real-world problems. He is the founder of Aethon Labs, a fast-paced, vertically integrated IoT product studio based in San Fransisco. The company using their expertise in hardware and software engineering, helps startups convert their ideas to smart products and bring them to market. Previously, Himanshu worked at Apple as a Software Security Engineer, where he developed several critical cryptography services for mobile platforms. He also led the development of the game-changing FaceID project.Himanshu holds a Masters in Computer Science from Stony Brook University and has held multiple research positions in the areas of Computer Architecture, Compiler research, and Software-defined networking.

Ravi Kurani
CPO
Mr. Kurani is a Forbes 30U30 serial entrepreneur. He recently exited Sutro, a smart water sensor company, where he was co-founder and CEO. 

Deal Notes

Round type: Seed Round size: US $750,000 Minimum investment: US $1,000 Target Minimum: US $300,000 Raised to date: US $25,000 US $0 (under Reg CF only) Security Type: Convertible Note Conversion discount: 20.0% Interest rate: 5.0% Note term: 24 months

Amount Raised : $76,000
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Security Description

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