Travelmate Robotics, Inc.

Unique Multi Purpose Robots

Travelmate Robotics, Inc.

Unique Multi Purpose Robots

Las Vegas, NV
Technology
Travelmate Robotics, Inc. has created a robot assistant that can carry your stuff like a self-moving suitcase and help make your everyday life more convenient. We believe Travelmate robots will become a part of people’s everyday lifestyles, just like smartphones have become an integral part of people’s day to day lives. It’s powered by a proprietary patented movement system, which utilizes artificial intelligence as well as machine learning to follow you wherever you go -- this robot will get smarter the longer you use it.

$100,405

raised
$635,694
previously crowdfunded
64
Investors
$22.6M
Valuation
$3.00
Price per Share
$300.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$535K
Offering Max
Reg CF
Offering

$100,405

raised
$635,694
previously crowdfunded
64
Investors
$22.6M
Valuation
$3.00
Price per Share
$300.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$535K
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into Travelmate Robotics, Inc.:

$300+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
Tier 1: $500+
If you invest $500, you will receieve Travelmate stickers.
$1,000+
Investment
Tier 2: $1000+
If you invest $1,000, you will receive a limited edition T-shirt and Travelmate stickers.
$1,500+
Investment
Tier 3: $1500+
If you invest $1,500, you will get a coupon for 5% off of any purchase on our website at travelmaterobotics.com. You will also receive all lower tier perks.
$2,500+
Investment
Tier 4: $2500+
If you invest $2,500, you will get a coupon for 10% off of any purchase on our website. You will also receive all lower tier perks.
$5,000+
Investment
Tier 5: $5000
If you invest $5,000, you will get a coupon for 15% off of any purchase on our website. You will also receive all lower tier perks.
$10,000+
Investment
Tier 6: $10000
If you invest $10,000, you will receive 10% bonus shares in the company. You will receive a coupon for 20% off of any purchase on our website. You will also receive all lower tier perks.
$50,000+
Investment
Tier 7: $50000
If you invest $50,000, you will receive 20% bonus shares in the company. You will get a coupon for 50% off of any purchase on our website. You will also receive all lower tier perks.

Reasons to Invest

Support a growing industry: the consumer robotics market makes over $1 billion.
Be on the cutting edge of airline travel: We are one of the only robotic suitcases compliant with all airline regulations.
Be part of the buzz: We have gained extensive recognition with over 3,000 articles written about Travelmate Robotics.

“Travelmate is an autonomous robot companion that is practical, innovative and brings the future to you.”

THE PROBLEM


Current robots on the market have limited function 

The current market of consumer robotics is impractical for everyday situations. The industry’s growth has been limited to industrial robotics and prototypes for academic purposes. Even mass produced robots are limited - robot toys account for most of the market, but robots haven’t been utilized to the best of their ability for everyday use. Robotics, as an industry, has the opportunity to assist a variety of people, from those on-the-go, frequent flyers to the person who might need a free hand. Revolutionizing this space has the potential to solve many people’s problems. 



THE SOLUTION


A robot companion


With our robotic suitcases, we are creating the first ever multi purpose robot platform that is mass produced. The Travelmate suitcase can help you carry luggage in a wide range of situations. We have fitted all of the electronic, mechanical and plastic components of the robot into 5% of the total volume of Travelmate, leaving 95% of the robot free space!


Travelmate uses integrated adaptive AI to let the suitcase know where it's going at all times. The robot is truly autonomous and improves by uploading movement data automatically to the Travelmate application and looking at data from all other Travelmate suitcases to improve its movement, actions and response time. Your suitcase will essentially become smarter and smarter as time goes on and more people have Travelmate suitcases. This feature can be disabled in the app if you wish.


Travelmate can also be used  to assist those with disabilities or as a robot friend who can respond to simple commands should you choose to turn this feature on. And if you need to video blog or record yourself and your surroundings, you can mount a camera or 360 degree VR ready camera to the Travelmate to use as your always-ready camera operator. 


THE MARKET


Over $1 billion market for robotic assistants and autonomous suitcases

 The global market for luggage in 2020, even with the Covid pandemic accounted for, amounted to 16 billion USD. Furthermore, "The global luggage market is projected to grow by 8.6 percent (cagr) between 2021 to 2025" according to research by statista. (Source). The consumer robotics market continues to grow as technology advances. The current robotics market is valued at over 100 billion as of 2020 and is anticipated to have a CAGR of 26% (Source).


We believe there is over $1 billion plus potential market for robotic assistants and autonomous suitcases. Our conservative estimate is that there is demand for at least 1 million robot suitcases based on market conditions and expressed interest from companies. Currently, we’re one of the only robotic suitcase on the market that is allowed on all airlines and our movement system is patented.


We believe that we can meet this demand by expanding our manufacturing capabilities to produce more than 5,000 units per month. With this, we can tap into our existing user base of interested distributors around the world to take full advantage of this new market.

OUR TRACTION


Patented and airline approved with brand recognition

We have made big moves since our launch of Travelmate Robotics, Inc. in 2016. Our robot won first place overall at the Travel Goods Show in 2018. We have a patent registered through USPTO for our movement system, which covers the robotic suitcase elements and all robots that connect to smartphones.


Airline approved by the IATA

Our suitcase is the only robot suitcase approved for use on all airlines. The IATA, which is the regulatory body that handles all regulation for more than 293 airlines, has expressly approved Travelmate for use as carry on or as checked in luggage. We made sure our product was safe, and abided by the ban on smart luggage without removable batteries. The IATA is even creating a new logo specifically for our robot luggage, so that airport security doesn't think it's smart luggage. 


Brand recognition

Additionally, we have received extensive coverage worldwide through video news coverage and over 3,000 published articles. We have a large social media presence, with 200,000 Facebook followers and over 600K views on our official YouTube channel. In total, Travelmate videos* (when including videos made by press) have been viewed more than 50 million times! This type of coverage is almost unheard of for a small start up company. Our website has been approved on the Baidu search engine, which is the main search engine that Chinese users utilize. 


*Source | *Source


Other Opportunities

Travelmate’s robotic mobility lends itself very well to movie productions featuring sci-fi and fantasy movies. We are currently working with a few movie studios to tie in our Travelmate robot into their films. 


  • We are building a unique, sci-fi inspired color scheme for our Travelmate robot to coincide with the release of a 20th Century Fox film. We see this project leading to future collaborations with movie studios. 
  • We are developing a new briefcase design for a famous, long running fantasy film series. The briefcase will follow a custom accessory in addition to a smartphone, meaning a smartphone won't be required to make the necessary pairing.
  • We are in preliminary discussions with Walt Disney Studios for a film collaboration. 
  • We are working with smaller independent films which will introduce Travelmate to a wider audience and give us even more brand recognition.



Patent portfolio

It is of paramount importance to do everything possible to protect the IP rights for any type of new technology. We currently have an approved non provisional application for a robotic suitcase in the United States. This is incredibly important and this patent is approved, not pending. If any other company would like to use our technology for robotic luggage, they will have to license the technology from us. This opens up an additional lucrative long term business model that requires no additional investment, as we have already taken on the costs associated with protecting our proprietary technology.


  • We have a PCT patent application that covers 154 countries.
  • We are constantly working on technological advancements that we believe would expand on the additional proprietary developments concerning Travelmate robots.
  • We have Trademarks for Travelmate Robotics in the United States and all countries that follow the Madrid protocol on Trademarks. We also have Trademarks for Travelmate Robotics in Japan, South Korea and Thailand, which are countries that are not part of the Madrid protocol.


Awards and Recognitions

Our strides and dedication hasn’t gone unnoticed. In 2019, Travelmate Robotics was the recipient of the European Technology Award for Automation. 

This year, we were the recipient of the Spanish National (21 Century) Technology Award for most Innovative Product.



WHAT WE DO


Build robotic suitcases for everyday use

We designed Travelmate to have the functionality of a robot assistant and to be able to carry items for you. Travelmate will pave the way in consumer robotics by using a relatable and practical form (a self moving suitcase) to show people how robotics fits into their lives. We've done a soft launch of 2 new products: a luggage assistant (Lugass) and Travelmate Assistant. 


Travelmate's autonomous robotic suitcase runs with just a smartphone. It uses a GPS chip that helps orient the suitcase and allows you to know the location of the suitcase at all times with the Travelmate smartphone application. The robotic suitcase uses smart features and our patented Follow Me system with built-in sensors to navigate large crowds and avoid common obstacles like people and furniture. It moves vertically and horizontally with ease, and can even carry other items when traveling autonomously in horizontal mode, including another suitcase on top. Multicolored LED lighting signifies your suitcase’s battery level, moving direction and more.



Travelmate is fully TSA compliant and our suitcase sizes are standardized. The smallest Travelmate is carry-on-sized and fits the specifications of all major airlines' requirements for carry on specifications. The Travelmate has a smart lock system that lets you open your suitcase directly or through your smartphone. In order to comply with TSA guidelines, we have also included a mechanism to manually open the suitcase. You can always add a separate lock to your suitcase for extra security. Travelmate robots last for 4 hours in continuous autonomous use and have a water resistant design.


We have 12 suppliers in China, Taiwan and Thailand, and our own assembly plant where we do final assembly of our robots. We are working to diversify our supply chain and have back up suppliers. 


THE BUSINESS MODEL


Sales through retail, wholesale, and manufacturing

We make money through retail, wholesale, and manufacturing. We currently sell to individual users and are also working on collaborations with film studios.


An average order value is $1099 USD, and our cost of goods sold is roughly $349 USD. Our margin is about $650 per unit . We believe that there is easily demand for a production run of at least one million units.  


We have had significant success with fundraising: we’ve raised $635,694, in equity from more than 948 investors on Wefunder, more than 500,000 USD via a regulation D raise on Fundable and $800,000 from over 2,000 backers on Indiegogo. We are currently in a pilot mass manufacturing batch launch stage, preparing for full-scale production.

HOW WE ARE DIFFERENT


Manufacturing expertise to meet demand

The biggest challenge is entering a product into the mass production process, and we have the manufacturing expertise and connections to do so confidently. In the industry, many robots are still not mass-produced because of the level of sophistication that is required to make them. 


At Travelmate we've been able to accomplish the transition into mass manufacturing because of our past experience in robotics and our experience in mass manufacturing. There are currently 12 factories that provide us with a total of 64 different electronic and mechanical Travelmate components. Three of which also do various stages of assembly for the product. In total, there are more than 64 components for Travelmate. We have more than 50 suppliers, when taking into account all components and the total supply chain.



We’ve spent almost two years developing relationships with our main and backup suppliers and manufacturers in China, Taiwan, Malaysia, Thailand and Japan. This clearly sets us apart from other startups and most other new tech companies, as we have a solid manufacturing base that we can use to expand in order to meet demand.



THE VISION


Consistently innovating to be our own competition

We plan to iterate future versions of Travelmate luggage on a yearly basis, similar to how new flagship smartphones are introduced. We're also planning on introducing more accessories and covers for Travelmate. The key to continued success for our company is to create our own competition, instead of waiting for it to appear. This means that we have to innovate. This philosophy allows us to get ahead of other companies and it is one of the main reasons that we, as a small start up company, have been able to get so far ahead and create something so futuristic.


On a long term basis, we are constantly improving and expanding the software functionality for Travelmate robots. People can update their Travelmate through the smartphone application. We are planning on implementing an update wherein users who opt in can have their Travelmate's usage patterns recorded and sent to us. From there, a machine learning algorithm can sort that data on a massive scale to further improve the robot's autonomous functionality.




We are working on a few other consumer robotics projects that will be hitting the market within the next three years - stay tuned! Two interesting new projects that we are developing are an autonomous golf trolley and a fully modular universal robotic platform with applications for the medical industry. The details for our other projects are under wraps and considered confidential, so we are limited in what we can describe.

OUR LEADERSHIP


7 years of experience in the robotics industry

Our leadership team has extensive experience in robotics and we have worked in the robotics industry for 7 years. We all come from a robotics background and that is very evident when you look at the design of Travelmate robots. They look unlike any other type of luggage and that lends itself to a high level of product recognition. There is no mistaking a Travelmate for something else and people will want one as soon as they see them riding around airports. This product basically markets itself continuously through its users.


We have plenty of experience in software development and website development. We've developed a proprietary artificial intelligence system for movement. In addition, we are experienced in dealing with media and press in general. This is evident when you look at the amount of positive news coverage that we continue to receive on a daily basis, despite first announcing this product over 2 years ago.



WHY INVEST


Support a new industry that’s turning sci-fi into reality

With Travelmate, we are creating a new industry with robotic suitcases. We're not just innovating with an interesting new type of luggage. Instead, we are creating a multi purpose robot platform that is mass produced.


We’ve worked on the Travelmate project for 3 years. Our team of experienced robotics engineers are passionate about integrating robots into the daily lives of people. In order to turn science fiction into reality, we set about making an accessible type of robot that everyone can use. Instead of something impractical and incredibly expensive, we wanted to make a robot form that can have as many uses as possible. That’s why we decided that the suitcase is the perfect form factor.

In the Press

This suitcase that follows you around the airport

Navigating the airport with your baggage could soon get a bit easier, thanks to an invention by a California company.

The Wall Street Journal

The Next Time you Fly, AI Could Help Ease the Journey

CNN

This suitcase will follow you home like a puppy

Offering Summary


Company

:

Travelmate Robotics Inc.

Corporate Address

:

400 S 4th Street, Las Vegas, NV 89101

Offering Minimum

:

$9,999.00

Offering Maximum

:

$534,996.00

Minimum Investment Amount

(per investor)

:

$300.00











Terms


Offering Type

:

Equity

Security Name

:

Class B Common Stock

Minimum Number of Shares Offered

:

3,333

Maximum Number of Shares Offered

:

178,332

Price per Share

:

$3.00

Pre-Money Valuation

:

$22,634,595.00











*Maximum number of shares offered subject to adjustment for bonus shares. See bonus info below.

Investment Incentives*

Super Early Bird Bonus 

Invest within the first 48 hours and receive an additional 15% bonus shares 

Early Bird Bonus 

  • Invest within the first 10 days and receive an additional 10% bonus shares
  • Invest $5,000 or more within the first 10 days and receive an additional 20% bonus shares 
  • Invest $10,000 or more within the first 10 days and recieve an additional 25% bonus shares 
  • Invest $25,000 or more within the first 10 days and recieve an additional 50% bonus shares 
  • Invest $50,000 or more within the first 10 days and recieve an additional 100% bonus shares 

Amount Based: 

Tier 1: $500+ — If you invest $500, you will receieve Travelmate stickers.

Tier 2: $1,000+ — If you invest $1,000, you will receive a limited edition T-shirt and Travelmate stickers.

Tier 3: $1,500+ — If you invest $1,500, you will get a coupon for 5% off of any purchase on our website at travelmaterobotics.com. You will also receive all lower tier perks.

Tier 4: $2,500+ — If you invest $2,500, you will get a coupon for 10% off of any purchase on our website. You will also receive all lower tier perks. 

Tier 5: $5,000+ — If you invest $5,000, you will get a coupon for 15% off of any purchase on our website. You will also receive all lower tier perks. 

Tier 6: $10,000+ — If you invest $10,000, you will receive 10% bonus shares in the company. You will receive a coupon for 20% off of any purchase on our website. You will also receive all lower tier perks. 

Tier 7: $50,000+ — If you invest $50,000, you will receive 20% bonus shares in the company. You will get a coupon for 50% off of any purchase on our website. You will also receive all lower tier perks. 

*All perks occur after the offering is completed.

The 10% Bonus for StartEngine Shareholders

Travelmate Robotics 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 $3.00 / share, you will receive 10 additional shares, meaning you'll own 110 Class B Common Stock shares for $300. 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

Example - The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$340,161.00 USD
$488,721.00 USD
Cash And Cash Equivalents
$230,644.00 USD
$465,911.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$0.00 USD
$33,296.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$373,927.00 USD
$107,709.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$528,244.00 USD
-$206,048.00 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

Livestream and 100k Milestone

18 days ago

Hi, just as a reminder, we are launching our livestream at roughly 9pm PST tonight (September 10th). If you're already subscribed to our facebook, then you will get a notification when we go live. You can also subscribe to our youtube channel to see the livestream on there: https://www.youtube.com/channel/UCK92opnCjQhel5uAuhMs0xg


We're going to show our final assembly area during this stream. Also, we have just surpassed 100k in funds raised! A huge thank you to everyone who has followed our project and invested in it! 

Schedule for Live Stream Next Week

25 days ago

Hi everyone, we would like to give you a tour of our final assembly area. We're going to be live-streaming this event on Friday September 10th at 9pm Pacific Standard Time via Facebook live. If you'd like to see the live stream, then just sign up to our Facebook page and you'll be notified when we go live: https://www.facebook.com/travelmaterobot

You can also just go to that link at the scheduled time and you'll see the live stream show up. We're trying something new and think that a live stream is an interesting way to show you around our final assembly plant.

 

Article worth Sharing and Early Bird Update

27 days ago

An article was recently published that we really enjoyed. This one goes through our whole history: https://www.financialbuzz.com/a-startups-journey-towards-becoming-a-leader-in-consumer-robots/

Thank you to everyone who has invested in our Startengine round! Our early bird perks will be available for another 3 days. If you want to take advantage of receiving bonus shares with your investment, then you can still do so. 


Travelmate FAQ #1

29 days ago

Hi Everyone, this is going to be our first FAQ. Here are some commonly asked questions and our answers:


 Is there opportunity to get your unit cost down and if so, what is the plan?  

Yes, we have already managed to get costs down a bit by switching from three PCBA's to two. Scaling up production will allow us to get costs down even more. Because of the nature of the pandemic and all of the stress that this has put on the overall supply chain, we are always looking for back up suppliers, especially local ones who can complement our final assembly plant. In the long term, this will lead to reduced costs and delays. 


 Are you able to retrofit existing suitcases? 

This is a very interesting point. The wheel motors that we use, would allow us to retrofit suitcases that have two wheels. Some luggage manufacturers have shown interest and we would not be against doing OEM or ODM services.

Some suitcase companies and a few airlines have shown interest. They are currently not using our technology, but I plan to continue discussions with them.

Some of the comments are very negative. Could you explain why?

Companies like Tesla still get a lot more hate than us, especially in comments sections (with much worse accusations), but despite that, they are leading the charge in disrupting their respective industries in a positive way. I hope that we will go on to do the same for consumer robotics.

I believe our company will be worth way more than it currently is. You're getting in as an early investor. Imagine investing in Apple or Starbucks before they went public. Especially, investing in said company when their shares were not diluted. My opinion is that this is a similar situation, if you look at things long term. We are offering an extremely good value right now on Startengine.

Another thing to take into account is that we have expanded our product line to include cargo robots, medical robots, assistant carriers and more. All of which add to the value of the company. Lastly, the granting of a non provisional patent for our proprietary movement system further increases the value of our company. There is huge potential to apply our movement system to other robots.


Ok, but there's also people who say that they have not received their units?

Yes, frankly speaking, we are doing our best to fulfill our obligations and are doing our best to reduce differed revenue this year. There are indiegogo backers who have not received their perks yet. Most of them are understanding, because they backed us when we were in the prototype stage. With a total of about a million and a half dollars raised from indiegogo and equity funding (not including this current raise), we have been able to progress into mass manufacturing, have a complex supply chain and have even opened our own assembly plant.  

Making a working prototype is not the hardest part of creating a complex robot. By far the hardest thing for any new technology, is scaling up and adapting it to mass production. Mass production is incredibly difficult and we have had to adapt and learn. For example, the cost of producing one unit is around 350 dollars. While our original indiegogo bonus for putting in 399 dollars, was to get one of our robots. This means that we take a loss when delivering to our indiegogo backers. This is why our retail price has started at 1099 since around 2018. Despite this, we are committed to fulfilling our indiegogo perks. 


Do you have any issues with sourcing components?

Assembling a robot is like assembling a car. It has 64 separate components. We have worked diligently to develop a supply chain with more than 12 suppliers. The only real issue right now with sourcing components has to do with electronics. There is huge demand from industry heavy weights such as Toyota, Sony, Huawei and more. Everyone needs chips and everyone is trying to get as many as possible, which just makes the shortages worse. It's gotten so bad that the UK car industry is seeing its lowest output since 1956: https://www.cnbc.com/2021/08/26/uk-car-production-falls-to-lowest-level-since-1956-amid-chip-shortage.html

We are doing our best, given the current circumstances, and should receive more components at our final assembly plant within a few months. This will give us enough to open orders of our Large and Medium sized units. 

Can I see some packaging and how the battery looks like?

Yes, here are some vids of that: https://drive.google.com/drive/u/1/folders/1Kt4yVbKuz9DCKl8B2oWInQr5jbtJOOMG

Some of your products are not available for order. Can you make a reservation list to gauge interest, or accept deposits?

Yes, we are working on implementing something like this for the Medium and Large sized Travelmate robots. 

 

Thanks again for investing and supporting Travelmate Robotics!

 

First Update and Successful Launch

about 1 month ago

We're so happy to have finally launched our startengine campaign! We've already surpassed our minimum funding goal. Thank you to everyone who has invested so far. Our team is grateful and we look forward to updating you as the campaign progresses.

 

It's impossible to fit every video in this campaign, so I thought we'd give you some extra vids in some of our updates. Here's a short video that we made, but couldn't really fit anywhere:




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