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Pawport by Smartec Products, LLC

Pawport by Smartec Products, LLC

Pawport is the only motorized pet door with smart technology designed to retrofit on over 60 million existing pet doors in people's homes.

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Deal Type

Equity

Funding Goal

$2,000,000

Current Reservations

$1,235,000

Minimum Reservation

$25,000

Deal Stage

Series A

Pre-money Valuation

$13,500,000

Open Date

06/27/2019

Closing Date

12/31/2020

Deal Exemption Type

3

Elevator Pitch

Pawport is the only motorized smart pet door designed to retrofit onto existing pet doors in people's homes. It keeps out intruders giving owners peace of mind while providing freedom for pets.

Company Overview

Overview

Smartec Products, LLC has developed the Pawport pet door, a proprietary smart pet door that is adaptable to retrofit the majority of pet doors in the market. Pawport allows existing pet door owners to quickly convert their current pet door to a secure and weather resistant smart pet door without professional installation or the need to modify their existing door or home. Therefore our target market includes nearly all existing pet door owners as well as customers buying new pet doors. Our goal is to provide peace of mind for pet owners and freedom for their pets.

Patents

Pawport received a notice of allowance from the US Patent office for 18 major patent claims for its proprietary technology. The patent should officially issue in the 1st quarter of 2021. International patent applications have also been filed.

Product Features

Pawport uses proprietary directional Bluetooth technology that assures only your pet can enter your home while wearing our unique tracker tag. The sturdy metal motorized French doors can be controlled remotely via an App and also includes an integrated alarm that will notify the owner of forced entry. Our App allows pet owners to track the activities of their pet, set up schedules for times when they can go in and out and remotely lock and unlock the door. Pawport's unique construction is an effective barrier to the environment as well as intruders. Pawport's futuristic design is available in multiple finishes including stainless steel, wood grains and other fine finishes which changes your pet door into a work of art. Our unique design allows owners to easily remove and relocate the door if they move or want to take it to another location.

Management Team

Smartec Products, LLC is led by an executive team with over 100 years of combined experience in product development, manufacturing, distribution and marketing. The President is Steve Miller who is the former CEO of Head Sports and other high tech companies that developed proprietary consumer products. One of these companies developed key duplication systems currently used by Home Depot, Ace Hardware, Wal-Mart and other big box retailers. Another company developed custom pet tag technology used by PetsMart, Petco, Wal-Mart and Disney Properties. These two companies sold for nearly $200,000,000 combined. Steve and his management team have been extremely successful selling consumer products online and to all big box retailers.

Market

The pet industry in the U.S. reached $86 Billion in 2018.[1] About 68% percent of U.S. households have a pet. That’s over 85 million families. [2] The global pet doors market was $482 million in 2018 and is continually growing at about 7% per year. [3]The North American market is the biggest market and is expected to reach 6,192,000 units of production in 2023. The pet industry is also largely considered to be recession proof having shown continued growth even during the worst years of the previous recession. [4]

Business Opportunity

Today there are about 10 pet door manufacturers in the U.S. The market leaders are PetSafe and Ideal Pet primarily because these doors are sold by big box retailers and Amazon.com. They are inexpensive and poor quality and can be installed by the homeowner. Another leading manufacturer is Hale Pet Doors which is a better quality door at a higher price point sold primarily through a dealer network of installers. Today there are a few electronic pet doors but the quality and execution of the concept is extremely poor and none have the unique smart features our door has. No one has developed an app controlled pet door that replaces the security panel on existing pet door models allowing an instant retrofit to a smart secure electronic door.

Marketing Plan

One of Smartec's Founding Partners, Martin Diamond, is the owner of Vuria LLC, a world class digital marketing and technology company in Scottsdale, AZ. Vuria will create a multi-faceted marketing plan that will include selling our products on our company website, through online digital marketing and social media, other online retailers like Ebay and Amazon, through local dealers, as well as big box stores like PetSmart and PetCo.

Conclusion & Projected Returns

Smartec has raised $1,000,000 for product development, patent filing, prototype testing and now is seeking another $1,000,000 for tooling, manufacturing and marketing of its product. Smartec is selling equity in the company through a 506c compliant PPM. Smartec's conservative projections show investors double their initial investment in cash dividends over 5 years with a 11X total ROI based on a 10X enterprise value in year 5. Investors must be accredited and the minimum investment is $25,000. 1% of the company is being sold for $135,000.

Traction

  • Begun sourcing vendor partners for parts & components & required tooling

    October, 2020
  • Begun reliability testing of final prototype

    October, 2020
  • Final Prototype developed and Tested for functionality

    September, 2020
  • Notice of Allowance for 18 patent claims received from US Patent Office

    September, 2020
  • Began App and Website Development

    August, 2020
  • Finalized Patent Application was submitted domestically & internationally

    June, 2020
  • Trademarks approved for "Pawport" domestically & filed for internationally

    June, 2020
  • Prototype 4 revisions completed

    May, 2020
  • Prototype 3 completed - revisions required for clutch mechanism

    March, 2020
  • Redesign completed based on Prototype 2

    December, 2019
  • 2nd Prototype Completed - Revisions needed

    October, 2019
  • PPM finalized and Seed Capital Round Begun

    June, 2019
  • Patent Search Completed and Patent Application Filed

    June, 2019
  • Developed a Proof of Concept Prototype

    May, 2019
  • Patent Counsel Joined the Company as a Partner

    May, 2019
  • Recruited Mechanical & Electronics Engineering Team

    May, 2019
  • Initial Start-Up Capital contributed by Founders

    April, 2019
  • Smartec Products, LLC was formed in Arizona

    April, 2019

Pitch Deck

Key Customers & Partners

Spline Design Engineering Team Embedded Engineering Solutions Formula Prototypes - Rapid Prototyping Vuria Creative Technology Noblitt Group - Patent Attorney Radix Law - Business Counsel

Previous Funding

  • $930,000 Equity
  • Raise Source: Investors
  • June 2020

Frequently Asked Questions

What is a Pawport Pet Door?

Pawport is a smart, motorized security pet door that easily retrofits on existing pet doors installed in people's homes.

Why should I buy a Pawport Pet Door?

Pawport increases security and weather resistance for pet owners and allows freedom for your pet.

Is your technology patented?

Pawport's unique features include directional bluetooth tracking and an ability to retrofit on existing pet doors. The company received a notice of allowance in Sept. of 2020 for 18 of its patent claims.

Is the Pawport door easy to install?

Pawport installs in seconds by sliding onto the existing pet door and locks in place.

Will Pawport fit on my existing pet door?

Pawport comes in 3 sizes and will fit on 80% of the pet doors sold in the marketplace.

I don't have a pet door - is Pawport a complete system?

Pawport also offers a complete system that can be installed in a wall or household door that features all metal construction and an optional exterior locking panel and integrated ramp.

What Pawport sizes are available?

Pawport comes in small, medium and large doors that will accommodate 80% or more of all pets.

What colors and finishes does Pawport come in?

Pawport's basic models come in white, black, grey and tan. The designer series features stainless steel and wood grain finishes.

Does Pawport Run on Batteries or an Outlet?

Pawport runs on rechargeable lithium-ion batteries or can be plugged into an outlet eliminating the need for charging.

How often do I need to charge the Pawport Door?

The Pawport door can come with up to 12 lithium-ion batteries allowing it to function for up to 1,000 door operations in between charging cycles. Pawport's App shows the battery level for the door and will alert you when it needs to be charged.

If I move can I take Pawport with me?

Pawport can be unlocked and removed in seconds and easily moved to another location.

Will Pawport keep out intruders like raccoons and coyotes?

Pawport will only open for pets wearing our unique encrypted Bluetooth tracker tag.

Does Pawport have an alarm if an intruder tries to break in?

If Pawport is ever forcible opened by a human intruder an audible alarm will sound and an alert will be sent to your phone via the Pawport App.

How strong and secure is Pawport?

Pawport features double walled 6061 Aircraft grade aluminum doors with a metal frame and automatic dual steel locks.

Will Pawport keep out the heat and cold?

Pawport features double walled aluminum doors with an insulating air gap and kerf weather stripping which creates nearly an airtight seal against the heat and cold.

Do I have to remove the flaps on my pet door to install Pawport?

Pawport does not interfere with the flaps on your current door. In fact, it adds another barrier to intruders and the environment.

Is Pawport safe for my pet?

Pawport's patented design has multiple safety features like an integrated clutch and electronic sensors that detect door obstructions and prevent the door from closing.

How big is the Pawport tracker tag?

Pawport's tracker tag is very light and about the size of a quarter in diameter.

How often do I need to charge the pet tag?

Pawport's pet tag features a lithium-ion battery that only needs to be charged once every few months. Pawport's App shows the battery level for the tag and will alert you when it needs to be charged.

Is the Pawport tag waterproof?

Pawport's bluetooth tracker tag is completely waterproof and rechargeable using a wireless QI charger.

What functions does the Pawport App offer?

Pawport's app allows for multiple users, multiple pets, pet activity tracking, setting schedules, locking and unlocking remotely, adjustable light color and intensity, battery level indicator, proximity adjustment, in-only/out-only, door speed, door open duration, optional alerts etc.

Will Pawport's App allow me to control the door remotely?

Pawport has Wi-Fi and Bluetooth capability and can be controlled remotely over the internet.

Can I set up a schedule for my pet?

Pawport's App allows for multiple schedules controlling when your pet is allowed to enter or exit the door.

Can my pet be locked out if I set up a schedule?

Once a schedule is enabled you can choose to allow in-only functionality so your pet won't be locked out.

What happens if the power goes out?

You will receive an alert via the Pawport App if the door is no longer connected to Wi-Fi. Pawport's basic model includes a 3 cell lithium-ion backup battery which will allow the door to continue to function for up to 250 operations without AC power. Additional batteries are available as an option.

Does Pawport work with Alexa and Google Assistant?

We plan for Pawport to eventually integrate with Alexa, Google Assistant and other smart home automation systems.

How do you compare to your competition?

Pawport is the only pet door of it's kind. No other electronic pet door can retrofit on the nearly 60 million existing pet doors in people's homes. Other motorized pet doors have serious flaws in design and reliability. Most are not app controlled and are very large and expensive.

Risks & Disclosures

Risks and disclosures are detailed in the private placement memorandum for Smartec Products, LLC which will be sent to all prospective investors.

Documents

Confidential

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