Custo 1A
Smart parcelbox - No more lost or stolen packages
€884,700
total amount raised in round
- Backed by over 70 investors
- Eligible for a tax reduction
This campaign has been closed
Key business plan assumptions
The aim of CUSTO is to be the number one smart parcel box in the Benelux by 2025, as well as some expansion to Germany and France. The CUSTO box is fully integrated with all couriers and does not require any update to work abroad.
In addition, CUSTO will explore the (i) renting of parcel boxes through a monthly fee instead of a product purchase as well as the (ii) subscription model to allow for additional features in the application.
Some further assumptions on the business plan:
- No limitations on the software sales were assumed, however CUSTO is already in talks to license its technology to other mailbox producers and distributors to scale more rapidly. This would result in a significant upside to the business plan.
- The model assumes sales outside of the Benelux from Q2-24 onwards.
- Sales channels include a mix of own channels and direct sales, retail stores and limited construction/development companies.
- The gross margin is rather conservative and improves only steadily. CUSTO is confident to scale more rapidly to a margin of 60-70%.
- The company expects to be operationally break even from July-24 onwards.
In addition, CUSTO will explore the (i) renting of parcel boxes through a monthly fee instead of a product purchase as well as the (ii) subscription model to allow for additional features in the application.
Some further assumptions on the business plan:
- No limitations on the software sales were assumed, however CUSTO is already in talks to license its technology to other mailbox producers and distributors to scale more rapidly. This would result in a significant upside to the business plan.
- The model assumes sales outside of the Benelux from Q2-24 onwards.
- Sales channels include a mix of own channels and direct sales, retail stores and limited construction/development companies.
- The gross margin is rather conservative and improves only steadily. CUSTO is confident to scale more rapidly to a margin of 60-70%.
- The company expects to be operationally break even from July-24 onwards.
Use of funds
The funds will be used to further scale the product, both in the Benelux and internationally, as from the end of 2024. In addition, it will allow CUSTO to further develop the product features, both hardware and software and improve on supply chain as well as the customer journey.
In detail, of the total expected capital raise of €500k:
- R&D - Product development: 35% on further product development, optimising the PCB and developing extra features such as Bluetooth, LAN, power outlet, TCPIP and MQTT, EDRX, etc. This includes hardware but also software and firmware developments.
- Marketing: 40% on marketing spend to scale in Belgium, Netherlands and further abroad. This includes retail margins, sales employees, ad spend, promotions in store and all marketing materials.
- Supply Chain: 15% of supply chain investments to improve lead times, installations and support.
- Employees: 10% hire one additional software developer from Q4-23
In detail, of the total expected capital raise of €500k:
- R&D - Product development: 35% on further product development, optimising the PCB and developing extra features such as Bluetooth, LAN, power outlet, TCPIP and MQTT, EDRX, etc. This includes hardware but also software and firmware developments.
- Marketing: 40% on marketing spend to scale in Belgium, Netherlands and further abroad. This includes retail margins, sales employees, ad spend, promotions in store and all marketing materials.
- Supply Chain: 15% of supply chain investments to improve lead times, installations and support.
- Employees: 10% hire one additional software developer from Q4-23
