Kineon

Kineon is a therapy device company that aims to provide meaningful alternatives for pharmaceuticals. It has created MOVE+, a battery-driven, wearable system that brings the power of light therapy into the comfort of the home.

The company has a good product. It has developed MOVE+ pro, the next-generation laser therapy device that tackles chronic pain head-on in as little as 5 minutes. The price for the product is $499. It has received FDA and FCC clearances. 

The chronic pain target market is expected to reach $142.5B by 2023. The light therapy market size is expected to reach $1.61B by 2032, according to a new study by Polaris Market Research. The company is in a competitive space with several companies in laser wearables for curing pain. Its direct competitor is Recharge Health. Kineon's USP is the effective dosage and portability of the device. 

The company has partnered with athletes from 6 renowned professional sports leagues including the NFL, Soccer, CrossFit, NBA, MLB, and Rugby which has helped it market the product so well. Kineon sells devices through a sales site on Shopify and marketing through multiple channels such as paid ads, email marketing, affiliate partnerships, medical practitioner partnerships, and anticipated global distributors. It is planning to launch its next product Gut+ this year to support gut health-related issues like IBS, Crohn’s, and Colitis. The Medical Professional Resellers are a valuable growth path for the company; giving it scalability that will outstrip its D2C sales growth as early as Q4 2023 and Q1 2024. It has also engaged US retailers with a plan for the 2023/24 rollout of its 2nd product platform. Currently, the company has no patents.

The MOVE Pro+ has 4.1-star ratings from 360 reviews on trust pilot. The company has delivered over 9500 devices worldwide in just 9 months. From September 2022 to May 2023, monthly sales have increased from $80k to $400k, with 28% average MoM growth, and it has done $3.5M in total sales. The sales for 2022 were $1.33M. The company had a 73% gross margin in 2022.

The company plans to use the proceeds for R&D, inventory, staffing, working capital, and platform fee.

Forrest Smith, CEO, Co-Founder, Board Member
Forrest is fluent in Chinese and has 18 years of experience in successful startup building and executive management in Asia. In 2000, Forrest started his first venture in China, a fabric-sourcing company that was acquired in 2002. Over his next ten years in China, Forrest founded and managed multiple ventures from startup to acquisition, including Source Pro Asia (a small sourcing company, August Vale (tannery, leather furniture company acquired by Wilway Holdings), and most recently Illumitron (LED lighting and controls, company acquired by Cooper Lighting). Aside from his founder position in multiple companies, Forrest has held several positions, from Director of Asian Operations for a Fortune 500 company to Director of Business Development. His education includes an International Baccalaureate with a focus on Chinese, Nanjing University/Johns Hopkins Center, and Georgia Tech. He has founded and exited many startups and is currently working full-time with Kineon. 

Thomas Sanderson, COO, Co-Founder, Board Member
Tom is an entrepreneur at heart, driven by a passion for human health and well-being, Tom has worked in international startups for more than 16 years. Born in Bahrain and raised in the North of England, he spent over 10 years as co-founder of a successful Film Production Studio based out of South East China - providing film services for leading global brands such as Huawei, Sennheiser, Audi, and John Lewis. He is a second-time founder and is currently working full-time with Kineon. 

The management team has the required skills and experience to grow the company