Bryte today announced $ 24 million in Series A funding led by ARCHina Capital. This comes as the company moves away from selling its $ 8,000 mattress direct to consumers and instead is working with partners who will utilize Bryte’s technology in their mattresses.
Bryte says several deals are in the works.
According to the company, this pivot has always been part of the plan. They feel that through licensing, they can better accomplish the company’s goal of improving people’s sleep experience. Bryte doesn’t want to become another direct to consumer brand, but rather the underlying technology in some of the best mattresses.
The company’s original product is still available to consumers. Called the Restorative Bed, the mattress has built-in sensors and 100 computer-controlled pneumatic coils that work with the platform as it learns owners’ sleeping patterns and adjusts to best suit them — for both sleepers. Bryte says its technology enables better sleep patterns by adjusting the mattress through monitoring temperature, pressure points and room environment.
The user selects several starting points for the mattress system. The system uses micro-adjustments to fine-tune the system to the sleeper. Each night’s sleep provides the mattress with more data points, which it uses to continually adjust the settings. The company says the greatest gains happen within two-four weeks and tend to reach an optimal level within 90 days.
With this funding round, the company is adding serious cash to its mission.
ARCHina Capital lead the $ 24 million Series A funding round, with ARCHina’s co-founder Amy Huang joining Bryte’s board. The round also included investors John Warnock, co-founder of Adobe, and Dave Mooring, former president of Rambus.
I'm currently in the process of selling a decent sized online business. I'm running into a hurdle as to how to handle equity stake within the company. During the talks to arrive at the deal, we came to an agreement that I would maintain a minority percent of equity stake within the company. I want to ensure that the company isn't dissolved and renamed, abandoning that portion of the agreement. I'm looking for any type of guidance as to how to ensure this can't happen.
I have no experience in the food business and any tips and advice would be greatly appreciated.
So basically my family makes homemade jared anchovies. We are from a fishermans town in the south of europe so the anchovies are caught locally and my family prepare and jar the anchovies into a final product.
We usually eat them for ourselves and give to friends and family. The feedback is amazing, everyone loves the taste and often ask for more.
I think we could produce enough for a much wider market and monetize this product.
Has anyone any advice when it comes to this business? We have the final product and know it tastes great, but just need someone to point me in the right direction when it comes to monetising it. Eg. is shipping to other EU countries difficult? Considering its food and in glass jars. plus all the legal things involved. Don't know where to start or if it is worth starting at all.
Absolutely any advice appreciated.
I built a website at https://tagggly.com/business/ however I am hesitant to launch it alone. It's the perfect time for it to go viral with the activism for helping small local businesses.
I was wondering how I'd find a buyer that may be interested. It has no revenue so it's hard to sell but it actually has huge potential.
I'm also open to giving it away and keep small equity. And I'd stay on as a developer and consultant. Oddly I'd be paying someone in equity to take it.
I have a product I'm planning to sell from an online store. The product is a small device I buy for cheap from China, flash with some custom firmware, add some nice packaging and instructions and then sell on. I am based in Hong Kong but my customers will potentially be located all over the world.
I'm wondering how I find out what VAT, duties, taxes, etc I need to pay for each customers country? It seems quite time consuming to investigate what's required for each individual country when I get a new customer. For example, if someone in Ecuador buys my product then I need to investigate what paperwork is required for Ecuador, and possibly this information won't be easy to find in english.
How is this process usually handled by smaller web stores? I'm very new to this whole process so any advice is appreciated.
I am looking for some advice/best practice please for how to sell your SaaS product before it has been built. Or indeed whether I should be trying to sell before the product has even been built.
Product is a B2B/Enterprise web application to allow financial institutions to more efficiently manage their corporate documents.
I have a high fidelity clickable prototype of the product that I have been using to validate the idea and iterate the features over the past few months (by talking to people in my network that I believe also have the problem I am looking to solve).
What can I reasonably expect in terms of gaining letters of intent/commitment from potential B2B/Enterprise customers? What does this conversation look like when I don’t even have a product? How important is it to do this at this stage? I have already mom tested the product with 25-30 contacts.
Should I be cold calling/emailing potential customers (outside my network) trying to sell them the product with a sales deck + prototype? I am concerned that I might burn a sales opportunity with these sorts of customers by not actually having a product yet.
I do not want to give away the product for free, I want to charge customers from day 1, is this the right approach in any conversations I have with potential customers now (with only the prototype to show)? My initial pricing model aims to be charing users £150-250 per user per month.
My concern with giving it away for free (even if just to initial early adopters) is that I won’t be proving there is a paying market for the product. I am also keen to generate revenue asap (default not dead).
I am not technical and am currently searching for a technical partner to build the product, I am therefore unsure of when it will be ready for any customers who do signal some sort of commitment. Am concerned this could lead to loss of momentum with sales process.
The documents and data I am asking potential customers to migrate to my platform are very sensitive, and so data security has been a main point of concern in conversations. There is also an issue around GDPR etc. Some of the people I have spoken to have said “yes we are interested, provided the final product meets our security requirements”.
I am UK based and initial customers will be in London/Jersey/Guernsey. I have personal experience of the problem I am trying to solve (having previously worked in the financial sector for a number of years) so already have quite a strong conviction that there is market for what I am building. But obviously am conscious of trying to validate idea as much as possible before spending £££ on development.
Very grateful for any thoughts/advice. Thanks