The Solgaard offering is now closed and is no longer accepting investments.

Solgaard

Innovative and sustainably designed gear

Solgaard

Innovative and sustainably designed gear

New York, NY
Consumer Products
E-Commerce
Solgaard is a design-driven, sustainable brand that is always ready for adventure. Our mission is to leave the planet a better place than we found it. Our work solves everyday problems for people through innovative and sustainable design. We built a whole ecosystem of premium travel and lifestyle gear, created with ocean-bound plastics. Our goal is to help cut ocean plastic in half by 2025.

$957,138

raised
882
Investors
$24M
Valuation
$2.00
Price per Share
$300.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left

$957,138

raised
882
Investors
$24M
Valuation
$2.00
Price per Share
$300.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on March 23, 2021 and is no longer accepting investments.

Reasons to Invest

Sales revenue tripled from 2018-2019, and YTD 2020 we’ve achieved 465% e-commerce growth compared to 2019.
Awarded Time Magazine’s Best Inventions 2018, and FastCompany’s World Changing Ideas 2020.
With a deep IP portfolio centered on sustainability, the products serve loyal customers and also the planet.

We upcycle ocean plastic into premium consumer goods.

Overview


Our journey started by perfecting the mobile office 

We solve the needs of the modern day consumer while also making the planet a better place. It all began in 2016 when we launched our first product, Lifepack, a solar-powered and anti-theft backpack. Four years, three patents, and one world changing ideas award later, we're continuing to offer premium products to help our customers stay organized and connected, all while helping tackle the plastic that is polluting our oceans.

Our product lines work together seamlessly, including Lifepack for every day, Carry-On Closet for travel, HomeBase for your home, and Solarbanks to power any part of your journey.


With every item sold, we pull 5 pounds of plastic from beaches and riverways to use in the production of our premium gear and have removed all single-use plastics from our products. By upcycling ocean waste into our products, we aim to be a driving force in cutting ocean plastic in half by 2025.

The Problem


Remote work life on-the-go is complex - few products support this lifestyle.

Modern work/life balance is complicated. Remote work means longer hours, difficulty staying organized, and it's nearly impossible to escape constant phone notifications.


There never seems to be an outlet in airports, backpack theft/pickpocketing is still a real thing, traditional suitcases lack organization creating a mess as you dig to find things, and with increasingly blurred lines between work and home, the need for dedicated separation is critical.  


On top of that, sustainability among consumer goods brands is still in its infancy. We are innovating ahead of the curve - using upcycled ocean plastic for our fabric and structural material across our product range. Each year, 17 billion pounds of plastic ends up in the ocean. As the ocean provides us with 70% of the oxygen we breathe, the urgency of helping our seas is paramount to the survival of human life on earth.

The Solution


We have an ecosystem of smart products on a mission to help the Earth

Life on-the-go can be chaotic, making it difficult to stay organized and well-connected. We create gear for the modern world that caters to the needs of our customers - busy people navigating the balance of work and life.

We design products to solve our own daily headaches when we  realized we weren't the only ones struggling to keep everything connected and organized.


Our first product, Lifepack aka 'The Mobile Office', is a solar powered and anti-theft backpack. Launched in 2016 during the first boom of remote work, the Lifepack was dubbed ‘the swiss army knife of backpacks’ by Yahoo. Our backers agreed - it raised 1.2 million dollars between Kickstarter and Indiegogo. With the exponential shift to remote work experienced in the first half of 2020, the need to bring your workspace wherever you go is increasingly important.


Our second category launch was into luggage with The Carry-On Closet™. This line of suitcases integrates a shelving system allowing you to pack/unpack more quickly and stay organized on the go. This game changing solution to the problem of the messy suitcase and is a dream for people traveling that change cities and hotel rooms each day by making packing and unpacking quick and easy. The Carry-On Closet was awarded Time Magazine Best Inventions in 2018


Our third category launch into smart home was with the HomeBase raised over $600k on Kickstarter over the summer of 2020. HomeBase is a multi-functional ecosystem allowing you to wirelessly charge your devices and ensures the needed separation between you and your notifications. Additionally the HomeBase incorporates an acoustic chamber increasing amplification of your tunes when our Solarbank boombox is placed on top. 


We use ocean-bound plastic in all of our products. Our proprietary fabric, Shore-Tex™, received a FastCompany world changing ideas award in 2020. We've also developed a structural material from ocean-bound plastic called Shore-Plast, which we're beginning to phase into our production to further increase the amount of recycled materials used in our products. Our inventive plastic recycling techniques have earned us a membership at NextWave Plastics, a global network of brands using ocean-bound plastic in their supply chains. Other members include IKEA, Humanscale, Dell, Herman Miller, HP, Trek Bicycles, and more.

Our Traction


Strong global growth that started via crowdfunding

Four years ago, we launched via Kickstarter. Our first campaign was Lifepack, a solar-powered backpack that raised $1.2 million (Kickstarter + Indiegogo combined). In total, we have launched 6 campaigns via crowdfunding raising over 3.2 million. Thanks to our incredible community of over 19,000 backers who are passionate about our products and our mission - we have grown to create an ecosystem of award winning products.

Our cumulative revenue is $8 million, with 3x growth from 2018-2019. We achieved 465% YoY e-commerce growth from 2019 - 2020, even during a global pandemic.

The Market


Growth by listening to our customers 

Everyone has always asked us: "What’s your vertical’ - which category of products do you sell?" We aren’t fixated on a vertical of products - rather, we are obsessed with our customers.


Young professionals who work on laptops - we make gear to fit their lives. Whether it’s at home, while traveling, working, or life after work - we’re giving them pieces that improve their life in any setting - and of course, made sustainably.


Fundamentally, we are a design company that centers itself on sustainability. Gen Z and millennial consumers are 50% more likely to switch brands or pay more for a brand with sustainable values (Bloomberg, FastCompany). The sustainability and the eco-fashion market are expected to reach $150 billion in 2021 (Nielsen).

Our products reach a variety of different markets:  from remote work, to travel, to smart homes. We started in remote work, then added travel - where our Carry-on Closet quickly propelled us to new heights. We’re on track to continue growing as millennial spending on travel reached $200 billion (source). However, with COVID-19 restrictions and the explosive growth of remote work, we are able to launch our home solutions, generating $601,389 of revenue via Kickstarter in just 45 days. Our launch aligns as the global smart home market is set to grow to $246 billion by 2025 (source).

What We Do


Gear for Global Citizens

We build premium products for the modern consumer while cleaning toxic plastic from our oceans. Our products are created with ocean-bound plastic and make solar energy accessible to power everyday essentials.

The Business Model


Direct-to-consumer focus and expanding with key major retailers

By having customers come directly to our website, we cut out the middleman of distribution and thus offer great value to the end consumer. This allows us to develop and nurture strong relationships with our customers due to the direct contact. We offer free shipping throughout the U.S., making it easy for any American consumer to purchase our products. We have begun selling wholesale to major global retailers where there is a strategic fit that allows for broader brand recognition and to reach new customers. We also offer corporate sales to purchase sustainable gear in bulk - which companies can use for corporate gifting or for outfitting their employees with branded backpacks.

How We Are Different


Patented technology geared toward creating a better planet

Our products aim to serve not just the modern consumer, adventurer, and remote worker but also the planet. Our approach to tackle these two goals at once is what makes us unique. We make the best products with the most sustainable materials.

Our deep IP portfolio secures our unique offerings. Through our proprietary products, we continue to create new offerings with our three patents: Backpack Lock, Carry-on Closet, Hexagon-shaped watch and handful of trademarks: Shore-Tex™, Gear for Global Citizens™, and Great Things That Do Good™, Solgaard™, Carry-On Closet™, and Lifepack™.

The Vision


Pioneering sustainable design that you can trust

We want to continue pioneering sustainable design and technologies. We will continue to be a leader in the inventive use of new materials while making great products serving our world.

As we diversify our product offering across multiple categories, we open up to new markets. With hero products in Travel, Remote Work, and SmartHome, we continue to foster a community of loyal customers who trust us to innovate. This allows for a recurring revenue stream and a hyper-loyal customer base. We want to grow our inventory, activate new marketing tactics, and develop new materials that not only build brilliant products, but also help reduce the pollution plaguing our planet.

OUR LEADERSHIP


Collaboration at our core with a diverse global team

Collaboration is at our core. We built our team from late-night calls and remote determination. From inception we are global - Solgaard is driven by people from seven different countries and a diverse group of backgrounds. Our team and its diversity are extremely important to us, we have an equal gender split that we will continue to maintain. We represent the U.S., Norway, Canada, Dominican Republic, Brazil, Sweden, Ireland, and the U.K.

Our founding team, Adrian Solgaard, and Chris Cavill have been loyal and motivated entrepreneurs from the start - working together since 2012.
 

Our shareholders and advisors are experienced direct-to-consumer investors and entrepreneurs, including A.J. Vaynerchuk of VaynerMedia and VaynerSports, Avani Patel & Matt Jung of The Ember Company, and Jeff Shupe - Co-Founder and COO of SRAM.

Why Invest


Ride the wave that is saving our oceans

Simply put, people believe in our mission - over 50,000 people in fact. We want to be a part of the solution that cleans our oceans of harmful plastics and in turn, saving our planet.

It starts here, with Solgaard’s innovative and growing ecosystem of products spanning different markets. Since launching four years ago, we’ve shipped out over 100,000 units to an ever-growing customer base, gaining $8 million in cumulative revenue. Our scalable, proprietary technologies continue to change the way fabrics and plastics are used in consumer goods.

 

We’ve garnered high-profile recognition with our team, honored by Time Magazine, FastCompany, Forbes, and more.

 

Not only are we committed to innovating for the global citizen, the remote worker, and everyday life, but we are incredibly committed to innovating for our irreplaceable planet.

In the Press

Time Magazine Best Inventions

The Carry-On Closet won Time Magazine Best inventions 2018 due to its innovative and elegant packing solution that allows the user to pack up a hotel room in 1 minute rather than 20.

FastCompany

World Changing Ideas Awards 2020: Consumer Products Finalists and Honorable Mentions

Lonely Planet

9 great sustainable travel products for your next trip

CNET

Best laptop backpack for 2020

Rolling Stone

Sustainable Gift Guide: 22 Eco-Friendly Gifts to Give Right Now

Forbes

Valentine’s Day Gift Guide: The Best Red Carry-Ons

Wired

Our Favorite Upcycled and Recycled Products

The New York TImes

The Traveler’s Conundrum: Unpack or Not Unpack?

USA Today

10 recycled products you need to add to your closet

Esquire

The 40+ Best Gift Ideas for Your Husband That He'll Genuinely Love

Los Angeles Times

10 tasks to check off your to-do list to enrich your next vacation

Mens Health

The 32 Best Romantic Valentine's Day Gifts for Her

GearJunkie

Emerging Gear: Folding Bike Lock, Smart Drone, and More

BBC

Global Gadgets: Summer 2019 with Lucy Hedges

Good Morning America

Deals and Steals: Must have items to help you go green!

Offering Summary


Company

:

Solgaard Design Inc.

Corporate Address

:

1151 Broadway Suite 3S, New York, NY 10001

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$300.00











Terms


Offering Type

:

Equity

Security Name

:

Class B Non Voting Stock

Minimum Number of Shares Offered

:

5,000

Maximum Number of Shares Offered

:

535,000

Price per Share

:

$2.00

Pre-Money Valuation

:

$24,000,000.00











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives and Bonuses*

All investors will be invited to an owner's club communication channel which will provide company updates, early access to products, and information about new innovations and developments behind the curtain.

Early Investors:

Friends and Family: first 24 hours: 25% bonus shares

SolgaardSquad - next 48 hours: 15% bonus shares

Super Early bird - next 72 hours: 10% bonus shares

Early Bird - next 7 days: 5% bonus shares

Volume Perks:

Tier 1 perk $500 - (Solarbank Boombox)

Tier 2 perk - $1,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement)

Tier 3 perk - $2,500 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement and Carry-On Closet Suitcase)

Tier 4 perk - $5,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 5% bonus shares)

Tier 5 perk - $10,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 7% bonus shares)

Tier 6 perk - $25,000 (Limited edition, unreleased “Solgaard Shareholder” engraved watch with Swiss Movement, Carry-On Closet Suitcase, and Check-In Closet Suitcase + 10% bonus shares)

*All perks occur when the offering is completed.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

The 10% Bonus for StartEngine Shareholders

Solgaard Design Inc., will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Common Stock at $2.00/ share, you will receive 110 shares of Class B Common Stock, meaning you'll own 110 shares for $200. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,164,756.00 USD
$209,461.00 USD
Cash And Cash Equivalents
$390,224.00 USD
$35,398.00 USD
Accounts Receivable
$324,540.00 USD
$76,667.00 USD
Short Term Debt
$451,406.00 USD
$268,245.00 USD
Long Term Debt
$1,397,136.00 USD
$150,000.00 USD
Revenues And Sales
$2,981,927.00 USD
$1,078,193.00 USD
Costs Of Goods Sold
$1,374,046.00 USD
$716,555.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$475,002.00 USD
-$181,457.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Q2 Updates!

3 months ago

Hey Investors,

As we've indicated, we're going to start to transition all communications to come from our Investor Relations team. Our goal is to send out an update after each quarter end! We have just emailed you all some news in regards to our Q2 results as well as other company updates. 

We’ll keep the most important information sent out to you by email from investors@solgaard.co - be sure to add us to your safe senders list.

Happy August and I hope y’all enjoy some of summer while we have it!

Adrian and The Solgaard Squad

Profitable Q1, perks fulfillment, and investor updates going forward!

6 months ago

Hello Investors! 


Thrilled to share we closed a profitable Q1 with 40% increase in sales, a 4% decrease in expense, and an increase in gross margin from 64% to 70% over Q1 2020. 

Going forward we will share financial updates, and more in depth business metrics and strategies, via our Investor Relations communications so keep an eye out in your email (check spam folders!) 

Lastly, with shipments leaving the warehouse this week, we've fulfilled the majority of the investor perks.

For all those who are eligible for a boombox, remember to fill our the survey sent to your email to select color options, As we are sending out our new version boombox launched last summer, we want to ensure were getting the right color bundles. We're expecting boombox fulfillment to begin sometime in May. 


Thanks to each and everyone of you for joining the Solgaard Squad - we can wait to share what we have in store for 2021!! 

Cheers


Successfully funded! Hats off to you!

7 months ago

Hello Investors,

Thank you for investing in Solgaard Design Inc!

We’re so thrilled to have you on board as shareholders and for spreading the word - now that we’ve raised $943,620 from 891 of you, it gives us the firepower for maximizing opportunity as we prepare to see the travel category make a spectacular comeback.

We’ll calm down on the update messages from here, we’ll send out something approximately every 6-8 weeks, at a minimum once per quarter with some info around new products, revenue targets - and an annual update with locked in figures. We’ll send these out via email to you directly.

As well, keep your eyes out for an email soon with access to the Solgaard Shareholder Facebook group.We can’t wait to share good news with you as we grow together.

Again, thank you all!

Best,
Adrian

PS - If you haven't already, give us a follow on Instagram - Solgaard

THANK YOU

7 months ago

We’re incredibly thankful for the ongoing support of our amazing community. Over 850  investors have raised over $910,000! Thank you for investing in sustainability - we’ll be diligent with your investment and look forward to sharing good news as we have it.

The close of our Online Public Offering is in 8 hours, Monday, March 22, 2021 at 11:59pm PST. This is your last chance to invest in this offering at this valuation! Invest Now at https://www.startengine.com/solgaard

-Adrian

Last day to invest!

7 months ago

Hello Investors!

What a ride, we’re now 825+ strong, with over $860k raised, and just 12 hours to go! If you have thought about increasing your current position, now is the time to do it!

2021 will be a year of solid growth over 2020 - and set us up for a springboard year in 2022.

Over the next 2-3 months we have coming:

-Our first women’s focused backpack

-A ltd. edition color run of some of our most requested suitcase colors

-Start shipping the HomeBase, new Boombox and Juicepack (The Kickstarter campaign from last year that raised  $601k)

-We’re gonna need to re-order more Endeavor backpacks. We’re on track to be sold out next month.

FOCUS AND GROW - By keeping our focus on our key, high performing products in the near term, it will put us in a strong position for Q4, where we anticipate a meaningful increase over last years revenue numbers.

Later this year, after the summer, we’re prepping to launch a product that we’ve been working on in development for 3 years. It’s meant to help with focus when working from home, or at the office - and we’re really looking forward to the launch of this. We’ve gotta keep it under wraps for patent reasons, but we can’t wait to share more info about this in the coming months.

Welcome aboard! Let’s finish out these final hours strong!

-Adrian

Final weekend to invest!

7 months ago

Hello Investors!

It’s the final weekend to invest! We’re over 700 strong now with $715k raised!

The Endeavor backpack launch was a huge success - it accounted for 25% of our sales this week and we’re on track to be sold out in 30-45 days.

Facebook group incoming! We’re creating a private group for this community of investors where we can share new product info in more depth and y’all can interact with each other. We’ll send that out via email to each of you after this campaign closes.

Iceland is the first country to open up quarantine-free to vaccinated Americans - which is a huge step for the near future of covid-safe travel.

The Travel boom is coming - we’re thrilled to have you on board. This growth of investment in the recent weeks means more inventory of our best selling products and huge growth for 2021 - we’re already over a million in sales, blowing past our last year pre-pandemic numbers. Let’s see if we can double (or more) our 2020 revenues…

Happy Friday!

Adrian

New boombox is now an award winner !

7 months ago

Hello Investors!

We’ve just been delivered the news that our new Solarbank Boombox has won the “____ ____” Award!

We aren’t allowed to reveal which award quite yet, it’s under embargo for a little while longer, but wanted to share the great news before our campaign closes. It’s a globally recognized and very prestigious award.

This is a new product which we released as part of the HomeBase ecosystem on Kickstarter this past summer, and it’s v3 of the Solar Boombox which we have shipped more than 30,000 units of. This new one which starts shipping in May is dropproof, waterproof, has surround sound, wireless charging, and a 12,000 mAh battery which means 4 extra charges for your phone or 96 hours of music playback! Perfect for longer trips or weekends camping as your only power source.

5 days left of this fundraising campaign on StartEngine! Let’s finish strong! 660 investors and counting!

Thanks,

Adrian


Reimagined closet expands the Solgaard assortment !

7 months ago


We are thrilled to announce the launch of our newest backpack: The Endeavor.

We’ve taken our patented suitcase closet system and re-imagined it to perfectly complement a backpack that’s expandable and convertible from work mode to travel mode. 

Check it out here with special launch day pricing: https://solgaard.co/products/lifepack-endeavor-backpack-with-closet


Final week of the campaign !

7 months ago

Hello Investors,

One week left! $620k and counting - thank you all so much for your support! We’re over 630 investors now in the squad!

Everyone we know is itching to travel, and now with the news this past week that all US adults will be eligible for a free Covid vaccine by May 1st - we are well positioned in the market to take a strong foothold this year.

We’re now planning inventory re-orders for suitcases - our sales are rapidly accelerating Jan 1-March 15 2020 $526,000 vs. Jan 1-Mar 15 2021 we’re at $731,000. This is with a higher average order value, a higher website conversion rate, and a lower advertising spend. These numbers are just our on-site eCommerce. We’re set up for an exciting year.

Here’s why inventory is important:

in the last couple of months we’ve sadly had to turn down orders from a prominent baseball team in Boston, an agency that orders gifts for NFL - specifically for the Superbowl on this occasion, and an E-Sports team. Our main running business is the direct to consumer side - so if these opportunities come up, we can’t take 500 units of a certain SKU and risk wiping out our primary business. By having sufficient levels of inventory with 8-10 weeks of inventory on-hand rather than 2-3 weeks,  it allows us to capture these opportunities when they come up.

Thanks to your investment, once we have the additional inventory in stock, we have the financial firepower to push our extremely efficient marketing efforts to see big growth for 2021.

One week left to invest in Solgaard on StartEngine! Please share this campaign with your friends/colleagues who are interested to invest in the future of sustainable travel - a sector awaiting a big boom this year.

Thanks,

Adrian


Last 10 days of the campaign!

8 months ago

Hello Investors,

Exciting times ahead as we roll into our final 10 days of the fundraise here on StartEngine. We’ve raised over $50k in the past week, and we’re hoping for a solid bump the final days here - this is where we need your help - if you have friends who want to be invested in the future of sustainability, please share our campaign with them!

Outside of the US - we’ve just had our Korean distribution partner launch the Carry-On Closet into the South Korean market, raising over 8 million Won in the first week: https://www.wadiz.kr/web/campaign/detail/95114

We’re opening up for pre-orders for the HomeBase on our website now - the product that raised $600k on Kickstarter hits our warehouse in about 2 weeks, then after all of our Kickstarter backers are fulfilled in April,  we’ll start shipping out to new customers. Check it out here: https://solgaard.co/products/homebase  We’re excited to have this new category open to consumers, as it is likely to add a good amount of revenue to our topline for 2021!

In ongoing DTC business news: we’ve seen a strong pick up in online sales since vaccine rollout has been going so well in the US. Our conversion rate has increased by 30% in the last few weeks alone. With the US expecting to have enough vaccines for everyone by May, this is huge news for the incoming travel boom we are anticipating.

With this in mind, every additional dollar raised in this campaign will be meaningful in allowing us to order additional inventory - which will be our key metric for driving growth this year. A stronger conversion rate on site, plus strong levels of inventory, in a category set for a huge rebound this year - are really good indicators for a big year for Solgaard.

Let’s finish the final 10 days of this campaign together strong!

Thanks,

Adrian & The Solgaard Squad

Big week last week! Over 500K raised and closed the month of February with a 31% increase over last year!

8 months ago

Hello Investors,

We’re now over 515 investors and together we’ve raised over $500k! Thank you to each and every one of you! Additionally, we're thrilled to share we closed the month of February with a 31% increase in our ecomm business over last year!


First feedback from about 10 investors who have received their shareholder edition watches are super positive. The resounding message is: ‘Wow, I’m so impressed with the quality and feel!’


We’re able to raise up to a max of $1,070,000 in total with the current Reg CF rules. If we get the full amount, we’re able to invest in more inventory, more marketing, and have stronger sales for 2021 as we’re expecting a boom in travel as vaccines are rolled out!  

Share this campaign and why you invested with your diamond handed friends, and let’s take Solgaard to the moon!! 

Cheers,

Adrian

New addition to the family

8 months ago

Hello Investors,

Today we’re proud to announce our launch of the much awaited Lifepack Creator Backpack!

It’s a bag we’ve been working on for 2 years in close collaboration with some super talented content creators including Tyler Babin, David Rock, and Brett Conti.

Check it out here:  https://solgaard.co/products/lifepack-creator-bag

Cheers,
Adrian

Big weekend! Now over 500 investors and Watches have arrived!

8 months ago

 

Hello Investors,

It’s watch week! For those of you who invested $1000 or more, the limited edition watches are being sent out this week.

This yet-to-be released, limited edition watch has a Swiss Movement, Sapphire Crystal, strap made from recycled plastic with a natural cork backing, and a stainless steel case.

It’s a premium Swiss GMT Movement made by the highly renowned Ronda, making watch movements in Switzerland for over 70 years.

For those who don’t know, a GMT movement keeps the time in two timezones at once. The red hand, rotates 1 full circle in 24hrs, and the outer index gives you the time on the 24hr clock. While the ‘normal’ hands tell the time on the inner numbers as normal. So in this pic is 10:18 in this timezone and 4:18 in the other time zone.

It’s called the Transatlantic - which is a nod of the hat to sailing across the Atlantic, and keeping time back home in Europe (or vice versa).

As you can clearly see - it’s a Hexagon. Which is not just unique, it serves a special purpose. Our patented hexagon shaped watch allows you to tell time easier. A flick of your wrist and you can easily see: 6 corners + 6 sides = 12 hours.

This first batch is 300 units, all engraved with your unique serial number.

We’re thrilled to get these sent out to you, and can’t wait to see you share pics of them with us via email or on social media (tag us @solgaard!)

Thanks,

Adrian

Notice of Funds Disbursement

8 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Solgaard has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Solgaard be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Strong finish to January with a 48% increase over LY !

9 months ago

Hello investors!

Strong finish to January with a 48% increase over last year!

As well, we’ve just received a new photographer focused backpack that arrived in our warehouse this week. Launching in a couple of weeks!

As well, we are finalizing a collaboration with a major beverage brand with a nationwide rollout for summer that I can’t wait to share.

There’s just 6 weeks left in our fundraise here on Startengine, if you’ve been sitting on the sidelines the time is now! Based on our current traction, we’re anticipating to be fully subscribed come mid March.

Until next time!

-Adrian & The Solgaard Squad

Year End Review: 2020

9 months ago

Hello Investors!

I hope you had as good of an end to 2020 as possible, and if you were able to be with loved ones that you were.

As a company with a heavy focus on travel, we’re relieved to see the vaccines start rolling out and what that means for the travel industry later this year. I want to say a special thank you to all of you for joining us on this journey and a warm welcome to the new investors! There’s 473 of you now!

Without further ado, let’s jump into our annual review!

1. Challenges:
2020 was a test for everyone, in every way. We were able to use it as a year to secure our roots, launch additional product categories, secure our footing as a team, and prep for years to come of solid growth.

Covid – obviously travel was massively impacted. We had braced ourselves and prepped/hired for what could have been a 6-9mm year. Pivoting to survival mode was tough, but necessary. I’m glad we were able to be nimble enough to make it through. 

2. LESSONS LEARNED:
Team, wow. With the right people in the right seats there’s way less chaos, way more progress, more speed, easier, happier, smoother, stronger. We massively optimized on all fronts this year and it shows in our results.

Distraction of too many products – simplification is the solution. In 2019 we thought we’d try launching some ‘typical’ best-selling luggage. The distraction caused by creating these products, plus marketing efforts didn’t provide anywhere near the fruitful result of us trusting our gut and focusing on hero products with unique features that improve the lives of our customers.

The first Covid lockdown forced us to focus on a new launch, and we put out HomeBase in 60 days from concept to prototype + Kickstarter launch, and raised over $600k.

3. Long term sustainability goals:

Our Shore-Tex fabric, made from ocean-bound plastic, is performing well with thousands of customers all over the world. 

We’ve started working with durable PET material for making HomeBase and Boombox – it’s been a massive challenge getting the formulations right at the factory but we are close to having these products and this material in the market.

4. Highlights:
Team – we’ve hit our stride now with the right people in the right seats. There’s an entrepreneurial mindedness across the whole team and it shows.

Online sales – DOUBLE YoY growth! December online only: $506,156! $500k was our stretch goal for the month and the whole team is thrilled that we hit it. 

HomeBase launch: over $600k raised for a new product in just 45 days, made of ocean-bound plastic, and imagined during Covid. Concept to Kickstarter launch timeframe: 60 days.

Gross sales - $3.2 million, showing 12% growth over 2019, which given the pandemic, we’re thrilled about.

Equity Crowdfunding via StartEngine has been a success – $440k raised and still climbing.

5. Financials

-Solgaard eCommerce business doubled from 2019
-Total Revenue: up 12% over 2019
-Cost of goods sold: down by 18%
-Gross margin: 65% vs 53% in 2019

We’ll have a more detailed financial update as we finish closing the books on 2020 and present third party audited financials.

6. Plans for 2021:

a) HomeBase starts shipping in February! We sold 600k of these in 45 days, so this should be a strong performer for us in 2021.

b) Three new backpacks with Launching Feb and March. All three of which already have distributor interest and strong consumer demand. I’ll give ya one word hints for each: Camera, Travel, and Womens.

c) Three new colors of one of our hero products: Carry-On Closet – placing order this month, in stock by May.

d) Release of PRODUCT X – (I have the first functional sample in my hands now!!! After 3.5 years of development, this is super exciting) – likely Kickstarter Launch in April/May, with inventory in stock by July. We’re going to do a big reveal of this new category launch so stay tuned. Currently finalizing patents.

2021 financial forecast is difficult to predict, but with these new product releases, and an expected surge in summer travel due to pent up demand - we are set up for what should be an exciting year with impressive results.

However I will say...January is off to a strong start - with Jan 1-15th 2021 performing 2x Jan 1-15th 2020. 

Thank you all so much for being on this journey with us. More good news to come soon – including an imminent ship date for the limited edition watches and other investor rewards.

To 2021 and beyond!

-Adrian & The Solgaard Squad

Closing out the year strong with 45% Q4 growth and 2x YTD revenue growth !

10 months ago

With only a few days left in 2020, we're thrilled to share that we achieved 45% Ecomm sales growth in Q4 over 2019 and and more than doubled our Ecomm sales year to date over 2019 (yes, even with the pandemic!). 

As we wrap up the year we want to express our gratitude to our investor community. We're excited to have you on board and cannot wait to share what we have in store for 2021 ! 


Update on sending out perks !

10 months ago

Wanted to share an exciting update on our campaign perks !

We've received a working sample of our investor watch and could not be more please with how its progressing. We're incredibly proud of the work that went into it and cannot wait to share it with our investors !

 

A few notes on when you can expect your perks:


- As indicated on the campaign page, the watch is slated to begin shipping in January and we are expecting to hit this target. For those investors who will be receiving a watch, you can expect more details mid January.

- THIS WEEK all investors who have had their funds cleared (* see below) should receive a survey to the email on file with StartEngine to confirm shipping address and color choices (if receiving luggage). Be on the look out ! 


Thank you to all who have invested - we are thrilled to have you on board and cannot wait to share what we have in store for 2021! 

Cheers

The Solgaard Squad 


* IMPORTANT

We are only given investor contact details once funds have cleared escrow. If you do not receive a survey from us this week, or are unsure if you're funds have cleared, you can reach out to investor support at contact@startengine.com 

Notice of Funds Disbursement

10 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Solgaard has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Solgaard be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Fourth Quarter sales to date have already surpassed all of Q4 sales in 2019 !

11 months ago

We're excited to report that through the first week of December 2020, e-commerce sales have already surpassed the entirety of fourth quarter sales in 2019! 

Looking forward to the remainder of the month and closing out 2020 with healthy momentum. 

Lastly, PRODUCTION UPDATE! 

Tooling and sampling for our Shareholder exclusive watch is nearing completion and we are happy to announce we are on track with delivery starting near the end of January 2021. Keep an eye out for some photos to be shared soon ! We're incredibly proud of how this watch turned out and are excited to provide it to our investor community. 



Strong response to new product with a sell out of new product over Black Friday/Cyber Monday weekend caps healthy growth in November !

11 months ago

We're excited to share the initial response to our new product lines. 

Since we launched the new accessories collection last week, we've seen an incredibly strong response and have actually sold out of some of the products ! We're looking forward to restocking these items and the potential growth for this category.

The performance of the new items was a nice cap to end the month of November where we saw 30%+ EComm growth to last year. With some high profile press in Rolling Stone and Wired for Black Friday/Cyber Monday, we were able to reach a wide audience during the critical holiday shopping weekend. 

Looking forward to the next four weeks and closing out 2020 !


Press:

https://www.rollingstone.com/product-recommendations/electronics/best-black-friday-deals-914179/


https://www.wired.com/story/best-cyber-monday-deals-100-2020/


New Product Launch as part of Black Friday!

11 months ago

Excited to share the launch of Solgaard accessories this week with three new products, a cardholder, a dopp kit, and a hanging toiletry bag! 

The launch of Solgaard accessories kicks of a series of multiple products (and product categories) we're bringing to market over the next six months culminating in something we're VERY excited about around March of 2021. 

We've listened to our loyal customers and are thrilled to be able to offer items that have been asked for! 


Take a peek at the new collection here:

https://solgaard.co/collections/gift-with-purchases-over-200




One week until Thanksgiving with lots of holiday press !

11 months ago

As we're a week away from Thanksgiving and five weeks away from Christmas, we're excited to share a slew of recent holiday press featuring Solgaard as a gifting destination. 


Additionally - teaser alert - keep your eye out for a few surprises we have up our sleeve next week for BFMC. We've been working on a few things we're excited to share ! 


Hustle Backpack Featured in Readers Digest: Best Gifts for Every Type of Friend

https://www.rd.com/list/best-friend-gifts-for-every-type-of-friend/


Hustle Backpack Featured in Heavy: Best Christmas Gifts for Teens

https://heavy.com/gifts/christmas-gifts-for-teens/


The Lifepack Backpack Featured in LIfeSavvy: Gifts for the Eco-Conscious Consumer 

https://www.lifesavvy.com/43672/15-eco-friendly-gifts-for-conscious-consumers/

Notice of Funds Disbursement

11 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Solgaard has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Solgaard be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Full transcript and videos of Business Update Webinar

11 months ago

A huge thank you to everyone who submitted questions to our Business Update webinar ! All of the questions were insightful, intriguing, and engaging and we truly enjoyed going through them. We're sad only in that we were not able to answer all the questions during the session! 

As promised during the session, we did want to get to each and every question so have attached a write up of all questions, segmented by topic, and included two videos. 

One video is of the webinar itself and the second is a post recording of all the questions we did not get to live. 

Thanks again to everyone for the questions, have a wonderful weekend! 

 

Live Session link:

https://www.youtube.com/watch?v=rW-IWqbTRuw&feature=youtu.be

 

Post session link:

https://www.youtube.com/watch?v=MB-XJni-aIw&feature=youtu.be

 

TRANSCRIPT:

 

Solgaard Webinar October 30th 2020 2:30 EST

Question Recap

 

Thank you to everyone who joined and submitted questions! We loved hearing from you all and are sad only in that we could not answer them all live (learning for us to schedule more time!).

 

We truly appreciate every question so have copied them all here to ensure you get an answer.

All questions submitted are below and categorized by topic. 

 

Reminder- any forward looking projection is just that, a projection, and could change. Please refer to our Forward Looking Legend at the end of the page.

 

Future/Forward Looking

 

SS: What is your long term vision for your company?

ZS: What are the goals for Solgaard in the future?

MS: What kind of company would you like Solgaard to be in five years?

YO: What’s the future of Solgaard look like?

 

Ultimately, we believe in creating exceptional everyday essentials made sustainably. Every product has a dual mandate of making the consumers life better and helping the planet. While we are currently in the travel and personal tech categories, we are not limiting ourselves to only these two. We’re going to make a product that fits the global consumer, someone who is living and working on the go, whatever that person needs, we’ll make.

 

RG: What are your future fundraising goals/plans?

 

Currently the only plan is finishing out this investment round. Our goal is to be self sustaining without restricting growth.

 

NS: What are revenue projections for the next fiscal year:

 

We are projecting 2 – 3x growth over TY. This is consistent with growth rates we’ve had over the last two years and is consistent with the growth in the business we’ve seen over the last quarter and a half. Fueling part of this growth will be new product launches incorporated into the assortment.  

 

RH: What are the sales expectations for the Holiday season and how many distributors have you signed?

 

We are anticipating 2 -3x growth over LY in Q4.  This growth is based on what we’ve seen so far in the quarter. We signed Best Buy in September and are a few weeks away from announcing another major retailer. Stay tuned!

 

AR: What is the highest ROI spend you’ve seen? Ie when you finish this raise what is the top thing  you’ll invest in as ROI for growth ?

 

Adrian started the first kickstarter campaign with $600 bucks and generated over $600K so that’s probably the largest single ROI item we’ve had! In all seriousness, project launches tend to have a very strong ROI. We raised over $600k for the homebase but spent only around 20k in the development (and that 600K was for pre-sell, so the return is even higher once the item becomes part of the normal product assortment). Lastly we tend to see a 3x to 4x return on marketing spend with a few campaigns that hit 8x – 10x. With this, we’re looking to spend the majority of the raise on bringing a few items currently in development over the finish line, marketing, and inventory.

 

 JM: Do you see any licensing partnerships for you ocean waste to plastic product patents?

 

 Yes! While there is no current licensing arrangement in place, this is absolutely an avenue we are exploring.

 

Covid

 

DS: What effect is the pandemic having on your business plans?

 

While we were impacted in Q2, with the travel shutdown, we used the time to focus on bringing to light a few new products - The homebase actually came out of us being stuck at home and needing a solution for making the home space better. Now that the world is opening up and we're seeing basically pre-covid levels of activity, we're able to begin launching some of the products we were given the time to focus on.

 

JS: I assume your team is working remotely. How are you keeping your team motivated, active, and together?

 

Since we started out as a remote company, the transition to remote during quarantine wasn’t too difficult. We had twice daily calls with the entire team in the morning and at the end of the day to catch up, see how everyone was feeling, and talk about everything that was going on in the world. Because “normal” operations weren’t happening we were given the chance to focus on launching new products that had been on the back burner (ie launching the HomeBase) which ended up being a really engaging and interesting thing for people to focus on which certainly helped.

 

FC: Do you have a strategy to keep growing if the travel bans were to be extended?

 

We have a number of new product launches happening end of 2020 and early 2021 that are not travel related. Some are additional pieces/functionality to existing product lines and one, which we are most excited about, is expansion into an entirely new category around March of 2021. By diversifying our product portfolio, we’re able to insulate the business from the variability in the travel industry. The launch of the HomeBase was a perfect example of this!

 

Product

 

J-EJ: Solgaard started in luggage and is now in tech products. Do you see other product categories where Solgaard could expand?

JW: Any new innovations coming with luggage products?

SP: Would love to hear about any future products in development

DH: Which future product line are you most excited about?

KL: New Innovations?

 

Ultimately, we believe in creating exceptional everyday essentials made sustainably. Every product had a dual mandate of making the consumers life better and helping the planet. While we are currently in the travel and personal tech categories, we are not limiting ourselves to only these two. We’re going to make a product that fits the global consumer, someone who is living and working on the go, whatever that person needs, we’ll make.

The product launches we have slated for the end of 2020 are deeper into existing categories (backpacks and watches with some new functionality) BUT what we are launching in (most likely) March of 2021 is a completely new category which we’ve been working on for a few years now and are VERY excited!

 

KG: Is there anything proprietary about the technology of converting the recycled plastic?

 

While we do have patents and trademarks on several of our products (including a FastCompany world changing ideas award this year (2020) for our development of our ShoreTex material, a fabric made from ocean bound plastic), the actual process of recycling plastic and converting it to other useful items is not proprietary, there are organizations all over the globe that have figured out the technology to do this. Additionally, we wouldn’t want something that like to be proprietary, to truly solve the plastic pollution problem we want everyone to know how to do it!  We were actually invited to join Next Wave Plastics, a consortium of brands including HP, Ikea, Trex, Herman Miller and others, that are working together to increase the use of recycled plastics in their supply chain. The more we share and learn from each other on the technology that is available the better off we’ll all be.

 

CG: Are new colors coming for the suitcases? Purple, pink…?

 

We get asked all the time for additional colors, purple seems to be a common one. We launched the Grenada Green this year and its done very well so far so we're always thinking about what could be the next option. We have samples for purple, yellow, orange, and white (I’d love to make a white with black trim and have it look like a storm trooper and Sarah really wants an 80’s style day-glo pink) so YES additional colors are coming, we’re just working to nail down the right one to launch next!

 

CY: How do you come up with all these creative ideas to make your products different from other products with the same function?

 

Frustration! I call myself a grump old man who fixes squeaky wheels. A lot of the ideas have come from our own personal frustrations. My girlfriends backpack got stolen so came up with the lock, I always scrambled to pack and had a messy suitcase, and being at home during lockdown I needed a dedicated place to put my phone for separation but also figured it could be a nice music amplifier.

 

MS: Is there both a carry on and check in?

 

Yes! We have a check in and two sizes of the carry on (20 inch and 22 inch which fits most American airlines overhead bins). Additionally, within both the check in and carryon we have a zipper expandable option and latch close option.

 

RH: Is it metal?

 

The suitcase has a polycarbonate shell and aluminum frame/handle.

 

TF: What are the raw materials used in manufacturing one suitcase and the time involved?

 

The suitcase has a polycarbonate shell, aluminum frame/handle, and ShoreTex (fabric from recycled plastic) liner and closet system. Depending on quantity orders and time of year (ie scheduling around Chinese New Year for example), from production start to arrival in port is between 60 and 90 days.

 

Homebase/Juicepack specific questions

 

PW: When will the new product be in customers hands?

 

Currently aiming for January/February 2021!

 

AL: How is production going?

 

Great! Final tooling and testing has completed. A few weeks ago we received 20 thousand pounds of recycled plastic that will be used in the molds of the homebase and speakers so are excited that things are gearing up!

 

AB: Is it easy to move your wireless wall hung charger from place to place?

 

Yes! The original mounting plan was two screw hooks in the back but we’ve since changed to a French cleat method (basically you mount and slide on which is easier than lining up the screw holes!). When you remove all that is needed would be a small amount of spackle (as if you hung a picture).

 

FE: How loud if the boombox compared to the juice pack and is it possible to add both of them to the homebase for surround sound?

 

The juicepack is our wireless charging power bank while the boombox is a powerbank AND speaker. You cannot pair the juicepack with the boombox but you CAN pair two boomboxes together.

 

EW: Is the Samsung Note 20 supported?

 

Yes! The standard for wireless charging, Qi charging, has been standardized across the industry and this is the technology used in our wireless charging devices.

 

Environment/Sustainability

 

IO: Is there proof that Solgaard helps with Climate Change?

 

Our focus is healthy oceans. As oceans act as one of the largest sinks for carbon dioxide, a clean ocean keeps that ecosystem flourishing. We’ve partnered with The Plastic Bank in the Philippines to create jobs for the community to clean plastic from the riverways and beached. Additionally, a new partnership with Prevent Ocean Plastic will have QR codes shipping with product you can scan and see exactly which beach/river the plastic collected came from.

 

Social Causes

 

KB: What is the role you will play in the anti-racism movement?

 

Diversity and inclusion are of fundamental importance. Outside of having a formal anti-discrimination policy, we actively seek and maintain a diverse team. We have an equal gender split and have 8 passports and 9 spoken languages represented. We truly believe the coming together of different perspectives makes for stronger outcomes. Additionally we believe civic engagement is important so every team member is given a full paid day off to vote.

 

StartEngine

 

PS: I would have liked to have invested, but why the short notice period?

 

The campaign is still live! You can still invest at startengine.com/Solgaard.

The first week of the campaign we did have bonus perks available for those who invested early but the chance to invest is still there !

 

BG: I invested and have received no verification or documentation of my shares.

 

First, Thank you for investing! Were excited to have you on board. We are not given any investor details until funds are cleared so unfortunately we don't have the ability to look into your account BUT i would reach out to StartEngine investor support and they should be able to assist: contact@startengine.com

 

SE: I don’t understand StartEngine investing. I thought I was buying shares of some sort but the disclaimer says I’m not.

 

Yes you are buying shares! I think the disclaimer is in reference to the shares not being issued until either the campaign has closed or had a partial close and funds are moved out of Escrow to Solgaard. For any questions please reach out directly to contact@startengine.com.

 

RH: Two questions, who’s the retail partner and what per unit cost has you negotiated with them? Simply, why are you raising money?

 

We can’t share the new retail partner just yet, give us a couple weeks on that one! While we do not disclose individual partner agreements, we can say that all costs negotiated with our retail partners and distributors are margin positive for us. In terms of the raise, we are going to use the funds for bringing some things over the finish line in terms of product development, advertising and consumer insights, and inventory.

 

HM: Is there a way I can get involved in your business?

 

The easiest way is to invest! By investing you will be directly supporting product development, marketing and consumer insights, and inventory. Outside of that, we will be offering to our investors insider views into new product, including beta testing, to ensure when the items are brought to market they have been thoroughly vetted.

 

 

Reminder regarding Forward Looking Information: 

THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY.  THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

New Press From Wired and some insights from our business update !

12 months ago

Going into the weekend we're excited to share some new press from Wired! 

The Carry- On Closet was featured as one of their favorite upcycled and recycled products. Check out what they had to say here: 

https://www.wired.com/gallery/our-favorite-upcycled-and-recycled-products/


Additionally, we wanted to share a few insights from our business update webinar two weeks ago. We received a ton of questions and there were quite a few themes repeated so we figured we would share them here !  

Cheers !


 

Future/Forward Looking

 

SS: What is your long term vision for your company?

ZS: What are the goals for Solgaard in the future?

MS: What kind of company would you like Solgaard to be in five years?

YO: What’s the future of Solgaard look like?

 

Ultimately, we believe in creating exceptional everyday essentials made sustainability. Every product has a dual mandate of making the consumers life better and helping the planet. While we are currently in the travel and personal tech categories, we are not limiting ourselves to only these two. We’re going to make a product that fits the global consumer, someone who is living and working on the go, whatever that person needs, we’ll make.

 

RG: What are your future fundraising goals/plans?

 

Currently the only plan is finishing out this investment round. Our goal is to be self sustaining without restricting growth.

 

AR: What is the highest ROI spend you’ve seen? Ie when you finish this raise what is the top thing  you’ll invest in as ROI for growth ?

 

Adrian started the first campaign with $600 bucks and generated over $600K so that’s probably the largest single ROI item we’ve had! In all seriousness, project launches tend to have a very strong ROI. We raised over $600k for the homebase but spent only around 20k in the development (and that 600K was for pre-sell, so the return is even higher once the item becomes part of the normal product assortment). Lastly we tend to see a 3x to 4x return on marketing spend with a few campaigns that hit 8x – 10x. With this, we’re looking to spend the majority of the raise on bringing a few items currently in development over the finish line, marketing, and inventory.

 

 JM: Do you see any licensing partnerships for you ocean waste to plastic product patents?

 

 Yes! While there is no current licensing arrangement in place, this is absolutely an avenue we are exploring. 

 

Covid

 

DS: What effect is the pandemic having on your business plans?

 

While we were impacted in Q2, with the travel shutdown, we used the time to focus on bringing to light a few new products - The homebase actually came out of us being stuck at home and needing a solution for making the home space better. Now that the world is opening up and we're seeing basically pre-covid levels of activity, we're able to begin launching some of the products we were given the time to focus on.

 

JS: I assume your team is working remotely. How are you keeping your team motivated, active, and together?

 

Since we started out as a remote company, the transition to remote during quarantine wasn’t too difficult. We had twice daily calls with the entire team in the morning and at the end of the day to catch up, see how everyone was feeling, and talk about everything that was going on in the world. Because “normal” operations weren’t happening we were given the chance to focus on launching new products that had been on the back burner (ie launching the HomeBase) which ended up being a really engaging and interesting thing for people to focus on which certainly helped.

 

FC: Do you have a strategy to keep growing if the travel bans were to be extended?

 

We have a number of new product launches happening end of 2020 and early 2021 that are not travel related. Some are additional pieces/functionality to existing product lines and one, which we are most excited about, is expansion into an entirely new category around March of 2021. By diversifying our product portfolio, we’re able to insulate the business from the variability in the travel industry. The launch of the HomeBase was a perfect example of this!

 

Product

 

J-EJ: Solgaard started in luggage and is now in tech products. Do you see other product categories where Solgaard could expand?

JW: Any new innovations coming with luggage products?

SP: Would love to hear about any future products in development

DH: Which future product line are you most excited about?

KL: New Innovations?

 

Ultimately, we believe in creating exceptional everyday essentials made sustainability. Every product had a dual mandate of making the consumers life better and helping the planet. While we are currently in the travel and personal tech categories, we are not limiting ourselves to only these two. We’re going to make a product that fits the global consumer, someone who is living and working on the go, whatever that person needs, we’ll make.

The product launches we have slated for the end of 2020 are deeper into existing categories (backpacks and watches with some new functionality) BUT what we are launching in (most likely) March of 2021 is a completely new category which we’ve been working on for a few years now and are VERY excited!

  

Environment/Sustainability

 

IO: Is there proof that Solgaard helps with Climate Change?

 

Our focus is healthy oceans. As oceans act as one of the largest sinks for carbon dioxide, a clean ocean keeps that ecosystem flourishing. We’ve partnered with The Plastic Bank in the Philippines to create jobs for the community to clean plastic from the riverways and beached. Additionally, a new partnership with Prevent Ocean Plastic will have QR codes shipping with product you can scan and see exactly which beach/river the plastic collected came from.

 

Reminder! Join Adrian this Friday for an update and Q&A !

12 months ago

Reminder that Adrian and the Solgaard team will be hosting a webinar this Friday October 30th at 2:30PM EST (11:30AMPST) for a business update and Q&A.

Register below, and submit your questions!

See you Friday! 


For those who cannot join the webinar, the event will be recorded and posted here.


Registration link:
https://us02web.zoom.us/webinar/register/WN_GixFa6iiT1KZWYnQYzMRIg

After registering, you will receive a confirmation email containing information about joining the webinar.

Join Adrian this Friday for an update and live Q&A!

12 months ago

Adrian and the Solgaard team invite you to join us this Friday October 30th at 2:30PM EST (11:30AMPST) for a business update and Q&A.

Register below, and submit your questions!

See you Friday! 


For those who cannot join the webinar, the event will be recorded and posted here! 


Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_GixFa6iiT1KZWYnQYzMRIg

After registering, you will receive a confirmation email containing information about joining the webinar.

Formula E World Champion Lucas Di Grassi Invests In Solgaard

about 1 year ago

Super excited to announce Lucas Di Grassi, Brazilian racing driver for Audi Sport ABT Schaffler, has invested in Solgaard.

Involved in Formula E (motorsport using only electric cars) since day one, Lucas uses his platform to advocate clean energy, climate change, and air pollution awareness.

Really looking forward to what we can accomplish together in cleaning up ocean plastic! Welcome to the  Solgaard Squad Lucas!


Press from Popular Mechanics on our watches!

about 1 year ago

Distinctive and deliberate in design, our premium hex watch collection harnesses the power of gravitational logic which we call ‘glimpse tech’, allowing for instant and efficient time-telling with our patented hexagonal watch.

Continuing the growth and success of our timepiece portfolio, we’re proud to offer for you - our Startengine Investors - early access to The Transatlantic, a watch made with Swiss Made GMT Movement. We’re making an exclusive colorway that’s custom engraved available exclusively to those who invest $1000 or more. These watches will start shipping in the New Year - the production is getting started now!

See the latest September 2020 coverage on our Series Two Hex Watch, The Milano, in Popular Mechanics

https://www.popularmechanics.com/technology/gear/g19863873/best-cheap-watches/






Notice of Funds Disbursement

about 1 year ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Solgaard has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Solgaard be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Lots of activity last week - Production update and new press in Conde Nast!

about 1 year ago

Have you ever wondered what 20,000 pounds of recycled ocean-bound plastic looks like?

As we’re gearing up for Q4, our factory surprised us last week with images of 20klbs of upcycled material boxed up and ready be used in production of our HomeBase and new Solarbank range. Check out the images below! 

Each box contains two thousand pounds of pellets created from recycled ocean-bound plastic that was collected from beaches and riverways in SE Asia. Thanks to our partnership with Bantam, Ocean-Cycle, and Prevented Ocean Plastic - these items will ship with a QR code saying exactly which area the material came from for each item received!

Additionally, we’re proud to have had our Weekender bag featured in Conde Nast Traveler as one of the 13 best Weekend Bags for every type of trip. Check out what they had to say here:
https://www.cntraveler.com/gallery/best-weekender-bags

Strong finish to Q3 with growth across ecomm and B2B channels!

about 1 year ago

Now that were officially into the busy Q4 season we’re proud to report we achieved 2.1X growth in our ecomm channel and an 18% increase in our B2B business over LY in Q3.

A few other highlights from Q3 included launching with BestBuy (check us out on bestbuy.com!), launching our first @home product the homebase, and ordering 20 thousand pounds of recycled plastic for upcoming production!

Looking forward to Q4, outside of it being the time for holiday gifting, Q4 is often called “engagement season”. With this in mind, we’re excited to have had our Daypack backpack featured in THE KNOT Magazine Fall 2020 issue.

Excited for what Q4 has in store and crossing the finish line on a few projects we can’t wait to share!



Wow! 299K and an interview with our founder Adrian.

about 1 year ago

A huge thank you to the StartEngine community for the continued support of the campaign - we’re knocking on the door of $300K!

A new media pick up: As we have launched six kickstarter campaigns raising over 3 million dollars, we get asked, A LOT, about what it takes to run a successful campaign.
Adrian was recently interviewed on this topic – check out his experience with finding factories, tips for creating high tech devices, and considerations for marketing spend for crowdfunding campaigns here:


https://artofthekickstart.com/solgaard-homebase-aotk-323/

Big Weekend! We hit 25% of our goal AND we were featured in Wired!

about 1 year ago

A huge thank you to everyone who has invested over the last 6 days, we’ve already hit 25% of our goal! We’re grateful for the outpouring of support from the StartEngine Community.

We’re also proud to have had the Carry-On Closet featured in WIRED “The Best Travel Bags for Wherever You’re Headed” over the weekend.

Check out what they had to say here:

 https://www.wired.com/gallery/best-travel-bags-carry-on-luggage/

 

What a great first day - over $100k!

about 1 year ago

Hello Investors,

We are excited to announce we’ve raised over $110K in the first 27 hours of the campaign!

Welcome to all of our new investors - we’re so glad to have you as a part of the team. Please remember to share this opportunity with your friends and family.

Thank you to the StartEngine community for the warm welcome - we're so happy to be a part of this journey with you.

Thanks for investing in the future of sustainability!

-Adrian & The Solgaard Squad

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