Verve InfoTec aiming to launch ambitious expansion plans via equity crowd sourced funding
02/02/23
Verve InfoTec is preparing to launch an investment offer giving people a unique opportunity to invest in the company and be part of its ambitious expansion plans. The aim is to use equity crowdfunding, which will enable individuals based in Australia to invest in Verve InfoTec from as little as a few hundred dollars, and become a shareholder.
Verve InfoTec was the first company in the world to commercialise a torque-based recorder to record the power output and performance of elite cyclists to recreational cyclists and everyone in between. The InfoCrank was designed to measure as opposed to using algorithms to provide a power number estimate. It is a true double-leg solution that, unlike the rest, measures the two constituent parts of power, torque and cadence, with peerless levels of accuracy and frequency.
The InfoCrank technology has recently been deployed in the health setting thus opening up an additional market. Utilising adapted cranks, the tech can be used to remotely measure, monitor, and manage patients referred for Total Knee Replacements. With a true end-to-end solution planned, Verve can guarantee the quality of measurement and recording at all times and is seeking investment to develop proprietary apps to exploit the full capabilities of the hardware.
In the sports performance division, there is endorsement of the product with 30% of cycling medals at the Tokyo 2020 Olympic and Paralympic Games won by teams whose athletes have used the InfoCrank power meter. In the health division, we see studies which demonstrate the efficacy of the pedalling action for rehabilitation and strength restoration following joint replacement.
The market opportunity spans both the sports performance and health markets. It is estimated that there are today 43 million goal driven cyclists globally. By 2030, this number will increase to 61m. Of the goal driven cyclists within our geographical reach, 12% are competitive and based on the assumption of a $10p/m subscription model would generate $85m in revenue today and $121m in revenue in 2030.
In 2021 there were 121,253 hip and knee replacements performed in Australia and over 2.2 million in the US. In Australia those numbers are predicted to increase by 97% to an estimated 239,000 by 2030. If 6% of this market was captured by Verve InfoTec, then it would generate $18m in revenue today, and $37m in 2030.
In the coming weeks, Verve will be initiating a public round of fundraising. We are aiming to raise significant funds to support the ambitious growth plans, please sign up to our newsletter if you would like to hear more.
Crowdfunding lets anyone based in Australia invest from as little as a few hundred dollars, and they get to own part of the company. Before investing, please consider the risk warning and our (soon to be published) offer document.
