Waverly Labs Inc.

Over-the-Ear Interpreter Designed to Solve Language Barriers

Waverly Labs Inc.

Over-the-Ear Interpreter Designed to Solve Language Barriers

New York, NY
Consumer Products
Technology
Waverly Labs makes Ambassador: an over-the-ear interpreter designed to solve the language barriers in global business and commerce.

$534,994

raised
791
Investors
35
Days Left
$3.80
Price per Share
$14M
Valuation
Equity
Offering Type
$380.00
Min. Investment

$534,994

raised
791
Investors
35
Days Left
$3.80
Price per Share
$14M
Valuation
Equity
Offering Type
$380.00
Min. Investment

Bonus Rewards

Get rewarded for investing more into Waverly Labs Inc.

$380+
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
Owners Bonus
25% off the retail price of Ambassador (cannot be combined with other discounts)
$2,500+
Investment
Community Bonus
Reserved Ambassador in your color choice of wine red or black
$5,000+
Investment
5% bonus shares
Additional 5% bonus shares & reserved Ambassador in your color choice of wine red or black
$10,000+
Investment
10% bonus shares
Additional 10% bonus shares & reserved Ambassador in your color choice of wine red or black

Reasons to Invest

In less than 3 years, Waverly Labs has generated more than $8.5M in gross revenues
Raised $1.3MM from 1K+ investors in just three days on StartEngine
Partnered with companies like Hilton, Walmart, and Amazon Fulfillment Centers for major B2B testing

“Waverly Labs is an innovative consumer products company at the convergence of speech translation and wearable technology”

A world without language barriers

From the team that created the Pilot Smart Earbuds with language translation, we invented the "earpiece translator" category and have generated over $8.5MM in sales. Now we tackle the huge market for professional interpretation with Ambassador Interpreter.

original founders, from left to right: Sergio, Andrew, Jainam, Bill

Professional interpreters are costly

$23B are being spent in the U.S. alone, hiring bilingual individuals and professional interpreters to communicate in the commercial space, either on-site, through telephone, conference, or video remote. Such services are often delivered by specialist providers and organizations that focus on one or multiple interpreting modalities. Globally, the amount being spent on interpreters is estimated at $57B.

source: CSA Research, "15th Annual Review of the Services and Technology Industry That Supports Translation, Localization, Interpreting, and Global Content", 2019

Introducing: Ambassador Interpreter

Ambassador is an over-the ear interpreter designed to solve language barriers in global commerce and business, providing a cheaper, always available, and high quality translation solution to disrupt the spoken interpreter market.

How It Works

Speech is captured directly from the Ambassador earphone, where it is then processed and translated in the cloud. A new speech is developed and the translation is heard directly in the user's ear with minimal lag.


The dramatic leap in accuracy is the culmination of major advances in multiple areas:


  • artificial neural networks applied to speech recognition and machine translation
  • machine learning layers allow the translation to improve as more people use the system
  • digital signal processing, micro-electronic mechanical systems, and wireless technologies have matured

The estimated global interpretation and translation market is $57B

The language market continues to grow faster than the general economy. The language industry continues growing as it responds to challenging requirements for traditional translation and interpreting. The sector grew in 2018 despite strong economic, political, global trade, and technological anxieties. The industry has long outperformed the general economy, largely because it reflects opportunities beyond domestic markets.


source: CSA Research, "15th Annual Review of the Services and Technology Industry That Supports Translation, Localization, Interpreting, and Global Content", 2019

In addition, specific demand for professional interpreters and bilinguals is rising rapidly. In the United States alone, U.S. employers posted roughly 240,000 job advertisements aimed at bilingual workers in 2010. That figure had more than doubled by 2015, growing to approximately 630,000.


source: New American Economy, "Not Lost in Translation", 2017

$8.5MM in worldwide sales and $1.3M in investment

We’ve sold nearly 40,000 units worldwide, generated $8.5MM in gross sales, raised $1.3M in equity crowdfunding and have gleaned dozens of positive reviews of our product while receiving countless requests to distribute globally. We've also conducted partnership and B2B trials with major companies including:


  • Hilton 

  • Walmart 

  • Disney

  • Amazon Fulfillment Centers

  • and many more

Not to mention we have seen some impressive growth in just the first few years:


  • $5.7MM in sales during the first 18 months

  • $500,000 in pre-orders of Ambassador Interpreter

  • Partnership opportunities to distribute Pilot Smart Earbuds and Ambassador globally

Hardware and recurring revenues

Ambassador is designed around a Hardware-Enabled Services model (HardwareSaaS). Through an optional subscription service, customers are able to access deeper features custom tailored for their professional environments. This service increases the lifetime value of our customers by capturing monthly recurring revenues.


  • Offline translation
  • Custom vocabularies
  • Saved transcripts
  • and additional features

Units are sold at $149 USD, providing high margins over manufacturing. The additional recurring revenues will generate roughly $4 - $10 user / month for access to the additional features which are ideal for professional environments. A significant portion of our customer base is comprised of these customers, which often purchase bulk orders, upwards of 2 - 15 orders per customer. As unit sales climb, subscription revenues compound and increase our profit margin over the life of the customer, augmenting our sales forecasts and ability to generate healthy and consistent revenues.


A market leader

While there are competitors in the space, Waverly Labs has everything they don’t:


  • $8.5MM in gross sales in 3 years
  • 400,000 size community of customers and advocates
  • Patents Pending, Trademarks, and Trade Secrets
  • Our technology works on both iOS and Android platforms
  • Strong Brand Recognition among Customers, Potential Customers, Press, and Media
  • Positive Reviews of Pilot Smart Earbuds and Ambassador Interpreter

Of our competitors, Timekettle only serves Chinese markets, Google Pixelbuds are limited to Pixel users and lacks translation features for professional interpretation needs, and Human Inc is focused on consumer music streaming with a high price point and inferior translation features.

Press, Media, Awards, and Accolades

Waverly Labs has been featured on CNN, CNET, TechCrunch, CBS, Forbes, BBC, and practically every major news outlet globally. Our technology has won awards from CES (the Consumer Electronics Show), the Design Museum, and praised for our cutting-edge innovation.

We've won multiple awards, including:

Founded in 2014

Founded in 2014, we developed the world's first translating earbuds, Pilot Smart Earbuds with language translation, with a record-breaking product reveal in 2016 that generated $4.4MM in sales from our crowdfunding campaign from over 19,000 customers. Since that time, we've been hard at work re-engineering every detail of the device for professional users.

Now we introduce: Ambassador, your professional interpreter

Tailored for professional users, Ambassador's builds on our core expertise of speech recognition and language translation, using patent-pending technology to deliver high-quality and smooth translations. As we enter the next phase of operations, Ambassador has entered into testing and fulfillment with major businesses and will begin production this fall. We’ll then launch our subscription model and distribute our inventory online until launching our retail line, expected for spring 2020.

Speech translation expertise meets growth hacking and marketing

Our current team boasts over 12 years experience in the field of software engineering, speech translation technologies and wearable manufacturing, as well as growth hacking and marketing.


We've developed an innovative way of applying speech translation engines to our smart earbuds using patent-pending technology.


  • Andrew Ochoa, Co-Founder and CEO
  • Sergio DelRio Diaz, Co-Funder and VP of Product
  • Georgiy Konovalov, Senior Software Engineer
  • Alisher Agzamov, Back-End Developer
  • Alexis Creuzot, iOS Developer

A letter from our CEO

We started Waverly Labs out of a desire to solve a global challenge with our Pilot Smart Earbuds, and even though we knew we were working on something groundbreaking, we didn’t anticipate the level of love and support that we’ve received from our global community. It’s inspiring to know that so many people are just as passionate about breaking down language barriers as we are, and we’re thrilled to have touched so many lives.


Now as we release Ambassador Interpreter, we realize a new evolution of what’s capable with our technology as we solve the language barrier for professionals and businesses alike. Our customers still send us stories every day about how they’ll use Ambassador, like Jade who uses them on international film sets, and Wesley who runs conferences all over the world. Their support and encouragement are truly why we do this.


Up until today we’ve only offered one investment offering from a limited number partners and investors, but now we’re opening up a new opportunity for you to join our tech startup as a stakeholder. As an investor and evangelist, you’ll be at the cutting-edge of innovative technology that will bridge the language divide. We’ll reap the rewards of our success and build something incredible. When people ask who did it, you’ll say “We Did It”.


Join us on this journey, and together we’ll shape the future.

In the Press

wareable
January 1, 1970

Waverly Labs returns with Ambassador - a cheaper, smarter language translator

theguardian
January 1, 1970

Is the era of artificial speech translation upon us?

raconteur

Could AI translators change the language of business?

wired

Soon, Talking to Strangers Will Be Even Easier

Offering Summary


Company

:

Waverly Labs Inc.

Corporate Address

:

19 Morris Avenue, Brooklyn, New York, NY 11205

Offering Minimum

:

$9,997.80

Offering Maximum

:

$534,998.20

Minimum Investment Amount

(per investor)

:

$380.00











Terms


Offering Type

:

Equity

Security Name

:

Series C Common Stock

Minimum Number of Shares Offered

:

2,631

Maximum Number of Shares Offered

:

140,789

Price per Share

:

$3.80

Pre-Money Valuation

:

$13,991,558.20











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

Perks* & Investment Bonuses

First 24 hours

Invest within the first 24 hours and get an additional 52% bonus shares

Day 2-4

Invest within the next 48 hours and receive 10% additional bonus shares

$500+ investment

25% off the retail price of Ambassador (cannot be combined with other discounts)

$2,500+ investment

Reserved Ambassador in your color choice of wine red or black

$5,000+ investment

Additional 5% bonus shares & reserved Ambassador in your color choice of wine red or black

$10,000+ investment

Additional 10% bonus shares & reserved Ambassador in your color choice of wine red or black

*All perks occur after the offering is completed.

*Perks and bonus shares are not compounded. In the case of conflicting perks, investors will receive the greatest value perk. All perks occur after the offering is completed.

The 10% Bonus for StartEngine Shareholders

Waverly Labs Inc. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 or made at least two investments in StartEngine's own offerings.

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 Series C Common Stock at $3.80 / share, you will receive 110 Series C Common Stock shares, meaning you'll own 110 shares for $380. 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 for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement, unless their eligibility period has been extended through additional subsequent investments in StartEngine's own offerings.  

Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company that 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
$880,503.00 USD
$3,667,247.00 USD
Cash And Cash Equivalents
$587,825.00 USD
$2,753,809.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$71,621.00 USD
$6,205,667.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$6,228,032.00 USD
$899,240.00 USD
Costs Of Goods Sold
$2,915,700.00 USD
$444,182.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
$3,210,700.00 USD
-$1,600,461.00 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

Notice of Funds Disbursement

5 days ago

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

Hello!

As you might know, Waverly Labs Inc. 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 Waverly Labs Inc. 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

Campaign Oversubscribed!

8 days ago

Hi everyone,


In just a short couple of weeks we oversubscribed to our available shares! It's extremely exciting to have a loyal group of advocates and new investors joining us on this journey to break down language barriers and disrupt the $57B global interpretation market. Thanks everyone and it's going to be exciting to work with our new shareholders.

This week we'll begin the closing process, moving the investments through escrow, getting new shareholders onboarded to our transfer agent platform to manage their shares, etc. This will take another 1 or 2 weeks before it's all said and done - the paperwork with these things can be a slow process sometimes. As we onboard in different groups based on first come first serve, you'll be receiving emails over the course of the next few weeks in different stages.

In the meantime, for anyone that is making an investment now that we're oversubscribed, you'll be added to a waitlist to join as a shareholder if space becomes available during this period. But be sure to make that commitment just in case we're able to squeeze you in!


Thanks again everyone, and if you have any questions let us know and we'll respond quickly.


Speak soon,

Team Waverly

Waverly Labs - Our Public Offering Day 1!

27 days ago

Hi!


This morning we launched our newest public offering, and we're extremely excited to first invite our current shareholders to re-invest before the general audience. We welcome you back to join us on our journey to break down language barriers.

We only have a limited number of share available, so don't miss your opportunity to become an investor where you’ll be at the cutting edge of technology and able to reap the rewards of our success along with us. Be sure to secure those additional bonus shares while you can!

Thank you again for your support and we’re thrilled to have you a part of our team. And if you haven’t yet, don’t miss the opportunity to own a piece of the company that is creating a world without language barriers!


Speak soon,

Team Waverly

Show More Updates End of Updates

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