Quarterly Investors Report

Q4 2020

Highlights

Team


+2 new employees

Funding

1M PDF Fund Agreement Signed
200k QAR Personal Loan Injected

*Money will be received by february 2021 

Awards

Winner of World Summit Awards!

Items we need help with

  • New funding leads, contacts, possible low interest loan options (Loan payments to be covered by PDF in 2021)

Financials

Quarterly Burn Rate

Revenue

$34,691

$0

  • Remaining balance includes loan from founders
  • PDF first payment expected in February. Will help with Cashflow.
  • Starting pre-order campaign to help fund development costs
  • Revenue from Ooredoo project has been removed.

New Hires

Fatma El Akramy

UI/UX Designer

Fatma has worked with multiple companies and startups previously on UI/UX designs including app designs, web designs. We found her artistic style to match the brands styling. She will be supporting us with both web design and app designs.

Ahmed Abdelhamid

Software Developer

Ahmed is experienced with ReactNative, app development and web development. He has worked on creating applications for clients in the US. He will be helping us build applications in both the productivity and educations sectors.

Operations

Pre-order campaign

We launched the pre-order page on the website. We are working on tweaking the design of the website based on questions we have received from people and will push the marketing once the website is completed.

funding

We are seeking funding options. We have spoken to Nautica360 and also looking into Ventures212 for investment opportunities. An investment+PDF will allow us to get to manufacturing and market launch.

Social media

We are pushing our social media channels to market Bonocle and what It can provide. We will be making more content on how people can use Bonocle and what it can help them do. Our followers are increasing but we need to push more.

testing

We have sent units to users in the US. Having trouble getting in touch with them due to covid but we are pushing to get results at the earliest. Otherwise, we have also been trying to assemble some units locally to have them tested by our users here in Qatar.

Product Development

Electronic Development

The electronic design has been significantly updated. The size of the PCB has been reduced and many components have been custom designed to be cheaper and easier to acquire.

Hardware Development

Bonocle design has been updated to be more ergonomic as well as general improvements to internal designs. Additional buttons have been added on the sides of the device.

Manufacturing

We are still studying the manufacturing options. Most probably, the electronics will be manufactured in China while the enclosure may be designed in Europe. We are consulting with an online service to avoid problems with manufacturing in the future.

Ongoing Projects

World Summit Awards

Bonocle was chosen as the winner of the 2020 world summit awards on behalf of Qatar under the “Inclusion and Empowerment” Category. This award gives us the opportunity to pitch in march in front of an international panel in Vienna. Unfortunately, due to covid the pitch will be virtual.

CSUN Assistive Tech Conference

We will be taking part in one the biggest conference for assistive technologies in the US. The event usually takes place in LA in California. However, this year it will also be virtual. We will be recording a presentation that will be presented on the date of the event in March 21.

Thank you
for believing

Please get in touch if you have any ideas, concerns or just for a quick chat