At a Glance
LOWO is a technology company founded to improve the everyday lives of the elderly, disabled and young people. LOWO has developed the Who I Am application to help home care organizations and caregivers in the flow of information (such as who the human really is and how s/he wants his/her daily routines handled and customer experience measurement in real time) between different stakeholders (such as the customer himself, relatives/loved ones and care workers) to unify and make information more visible.
Traction and Ask
With Keituri Sote, Maunula Koti and 62+ registered customers (trial users), LOWO is now looking to raise €300k pre-seed funding. In addition, the ideal investor would have expertise in business development and international sales & marketing. The investment is needed to:
- Validate its MVP and move to fully marketable product;
- Reach 1000 end customers and €60k net revenues by Q4 2023;
- Strengthen the team with 2-3 new hires to beef up international sales (Nordic countries, Germany, Spain and France).
Market, Business Model, Financials and Team
Within an ICT cost of long-term care services for the elderly and the disabled market in EU, UK, USA and Canada worth €70B (+5% CARG/Year), LOWO was founded in 2020 in Helsinki, Finland. LOWO is monetizing mainly through monthly SaaS fees charged to home care and assisted living organizations. Revenue growth is projected at 5-6x YoY (breakeven in Q4 2025), reaching €34M by Q4 2027. LOWO team of 6 (1 full-time and 3 part-time co-founders and 2 part-time employees) combines several decades of commercial, business development and software expertise.
Competitive Advantage
Key USPs versus competitors like various providers of patient information systems (ERP systems for internal use) are: LOWO is the first in the market whose business comes from customers’ own needs, so that the customer has full access and ownership of his/her own information. We can easily customize the service for use by other organizations (white label service). LOWO is also the first in the market who has created a digital service need assessment for the use of home care and assisted living.
Round Details
At a €1,5M post-money valuation, LOWO aims to close this pre-seed round by 15 June 2023. €25k is the minimum investment ticket size.
LOWO has previously invested €60k of its own capital and raised €20k in grants from ELY-Keskus to develop its MVP, which means that, after this investment round is secured, LOWO is fully ready for international commercial uptake.
Get in Touch
Founder and CEO Jan-Erik Laine is speaking with potential investors over the next few weeks and is keen to pitch, demo and open up their traction and financial plans in detail.