DenD on 05/17/2022: the electronic lock of sports equipment not only has a motion sensor and a GSM module and will call you in case of a breach, but it can be a guarantee for arranging effective insurance through the supplied app. The company is delivering the lock this year in the second generation and plans 20,000 units sold, at home and worldwide. Investors already include Prusa Research and Nation1. Pealock is asking for investment of up to €1m for overseas expansion and you can be there, that is, if you have a membership with us. The private offer is valid for Venture Club members.
D-Day 47 presented the startup Pealock - a lock for sports equipment. It applied in the next round for a total investment of up to EUR 1 million. Last year they produced and sold 2,500 first generation locks, this year they plan to produce 20,000 second generation locks and reach out to foreign markets. The beauty is that it's not just a lock that has a GSM module and a motion sensor, i.e. it reports tampering, but it is newly linked to the ability to insure an object and the insurance company recognizes it as a lock. I.e. in the event of theft, the victim has the opportunity to prove that he locked the bike or skis and a claim will be made. So not only does Pealock have a nice lock, but it is essentially an insurtech company with a lot of scalability. Incidentally, it had funding from Prusa Research and Nation1 in its first round, and both are planning to participate in the current second investment round. The company has good growth, management and product, so we decided to take a closer look at it. The evening was held, we liked it... but due to the unclear exit model, difficult patent protection (and thus copycat risk), with a relatively high investment, we did not proceed with the deal.
