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Heymdall has successfully bootstrapped between €500,000 and €600,000 through the investment of the current four founders, enabling significant growth and the further development of our innovative access control solutions. This investment has allowed us to complete our initial product launches and establish a strong foundation for future expansion.
Heymdall products overview 2024
Upcoming Funding & Utilization
To accelerate our growth and achieve our ambitions, we are implementing a funding mix that includes a professional loan of €270,000 from BNP Paribas and PMV, seeking an additional €320,000 from private investors, and securing €275,000 in VLAIO subsidies.
Financing need
This funding mix will be allocated to the following strategic areas:
40% for Business Development: This allocation will cover costs related to expanding our project portfolio, enhancing our sales team, and strengthening our network of installers and distributors, particularly in Belgium, Poland, and Romania. Objective 01: Expand our network and infrastructure to support broader access to our solutions.
Actions: Strengthen partnerships with installers and distributors while enhancing the availability of our products in key markets.
Objective 02: Boost our sales and marketing efforts to drive awareness and adoption of Heymdall products.
30% for Infrastructure & Personnel: Investments will be made in technology, equipment, and facilities to support our operational needs. This includes establishing a dedicated office and technical studio for testing, assembly, and showcasing our products to stakeholders. Objective 01: Expand our team to support ongoing growth and development.
Actions: Hire skilled professionals in sales, support, and technical development to enhance our operational capacity.
Objective 02: Enhance the production of our high-end access control devices.
Actions: Invest in molds, stock for housing, displays, and PCBs, while expanding production capacity and refining processes to meet increasing demand.
30% for Research and Development: These funds will focus on advancing our AI capabilities and developing innovative features for our app and products, with support from our partners and subsidies, including collaboration with Apixa. Our primary objective is to enhance our technology infrastructure and introduce new devices that cater to a broader range of market needs.
Objective 01: Our primary objective is to enhance our technology infrastructure.
Actions: AI Development: We will enhance our AI-driven functionalities to improve user experiences and security measures within our access control solutions. Community Engagement Tools: We will develop features within our app that facilitate seamless interaction among residents, enhancing community cohesion and ensuring efficient communication regarding building management and security.
Objective 02: introduce new devices that cater to a broader range of market needs.
Actions: New Product Development: We will invest in the design and engineering of new devices, including compact models tailored for smaller residential buildings and specialized solutions for private homes and commercial spaces. Testing and Validation: We will conduct extensive testing of new technologies and features to ensure reliability and user satisfaction before launch.
Milestones & development roadmap
Heymdall ambition in numbers
Heymdall: Development Plans
Heymdall is set to revolutionize the access control market with a series of strategic initiatives aimed at enhancing our product offerings and expanding our market presence. Our immediate plans include:
Scaling Up: New Project Rollouts. Next year, we have 20-30 new projects in the pipeline across residential buildings in Belgium, Poland, and Romania. As we expand, we are also focusing on the serial production of our devices, which will be primarily assembled and built in Belgium. To facilitate this growth, we need investment for molds and stock of housings, displays, and PCBs. This approach not only enhances our operational efficiency but also ensures that we maintain the highest quality standards in our products.
Development of a Comprehensive Web Platform: We are enhancing our current website to create a more expansive and informative platform that serves as a vital resource for building managers, installers and architects. This upgraded web platform will provide comprehensive information about our products, including integration options, high-quality materials, and inspiration for architects. Additionally, it will feature technical data and instructional videos for installers to streamline the installation process. Building managers will benefit from dedicated tools for management and controls, ensuring they can effectively oversee the operations within their buildings.
Further Development of the Heymdall App: We will focus on enhancing the "Heymdall App," providing users with seamless access to our products and services. Our efforts will prioritize community engagement tools, door answering capabilities, and package notifications to enrich the user experience.
Research and Development of AI Features: We will concentrate on the development of AI-driven functionalities and advanced community-building tools to elevate the user experience and increase security. This initiative will be supported by a subsidy from VLAIO, and we will collaborate with Apixa to leverage their expertise in AI technology.
Strengthening Partnerships with Installers: We are committed to building robust relationships with installers and distributors. We have already established a presence with distributors in Poland, Romania, and Belgium. Our Belgian distributor, in particular, boasts a vast network of installers and has made a significant investment in Heymdall. This partnership not only enhances our distribution capabilities but also strengthens our market presence,
Heymdall product portfolio - outdoor devices
TAX SHELTER
45%
Investments in this company benefit from a 45% personal income tax reduction. Read more…
A remaining amount of €195,000 is available for the Tax Shelter benefit.
Fact sheet
Advised by a professional start-up advisor
Valuation is set by the co-investor or incubator
Co-investor or incubator will be members or observers to the board
At the closing, an incubator, accelerator, or studio will have shares
At the closing, the entrepreneurs have contributed a minimum of €15,000 in cash in exchange for shares
At the closing, a professional co-investor will have invested at least €25,000
Prior fundraising in equity or convertible loan with 10 or more investors
Seasoned entrepreneurs
Minimum 2 active entrepreneurs
Valuation set by an organisation specialized in valuations of comparable size
Valuation is less than €1 million or 10x last year’s turnover
