Tenafly, NJ, USA · United States · Wilmington, DE, USA
Hardware · Manufacturing
1 - 10 employees
ABBY is a new personal electric vehicle for adults with reduced mobility. We've updated the traditional rear-wheel-drive format with machine vision & IoT for increased safety, to extend the reach of family and caregivers; even combat loneliness, targeting a huge gap in the market. Last year, we manufactured 30 units (molds, tooling, PCBs are done) and this year are placing these units into early-adopter pilots for extended field testing; to shake out any hardware issues ahead of mass production and to test the software in real-world conditions, generating success stories toward the goal of raising seed funding for commercialization of ABBY in 2024. Our base plan ships 40,000 units over five years with gross margins approaching 80% and 25% EBITDA on year 5 sales of $100M. However, we'll be profitable in around 20 months after ~1000 units have shipped. We have pre-orders and over 1500 email subscribers on our waitlist. ABBY's new smart wheelchair controller represents a game changer in terms of integration with other assistive technologies, and our Smart Push-rim technology that enables power-assisted-self-propulsion and our low target price (approx 1/2 of any other power-assist or power-add-on hybrid solutions) can be valuable for insurance payers in reducing the lifetime cost of care, once the planned 510K cleared ABBY variant is released in 2024.
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