Safety concerns are the number one barrier stopping people from cycling. Yet while 92% of fatal cycling accidents occur in low light conditions, only 10% of cyclists wear high visibility clothing, according to an Oxford study. Why? Because we think city cyclists dress for their destination as well as their journey and walking into an office looking like a radioactive lemon just doesn’t work for most people.
LUMO design beautifully made jackets and bags that have ultra-high brightness LEDs subtly incorporated behind fabric panels. The lights are waterproof, washable and powered by a small detachable USB-rechargeable battery unit. The LEDs are completely concealed until they are switched on, then visible from up to 400 metres when illuminated. LUMO also uses quality fabric technology and cycling-friendly design with the aim of ensuring that cyclists are kept dry, their temperature is moderated, and they are comfortable riding their bike.
In short, LUMO means you can now step straight from a business meeting or dinner with friends and onto a bike, safe in the knowledge that you will be visible to traffic, comfortable and dry at the same time.
LUMO has a patent (number 1414215.2) pending on its lighting system and a novel approach that integrates useful wearable technology with design. LUMO’s stylish imagery lends itself to an online driven marketing model similar to Rapha (the market leader in premium cycling clothing), which we believe makes LUMO a scalable proposition.
Proven consumer demand:
458 Kickstarter backers in 38 days, raising £74,118 in pledged sales.
LUMO is the most funded cycling clothing project globally and the second most funded UK wearable technology project on Kickstarter to date
LUMO had distribution enquiries from a European online bike retailer, traditional retailers and four distributors during its Kickstarter campaign.
Positive product reviews and coverage from several cycling, technology, style and mainstream media and bloggers, including:
LUMO was set up in July 2014. The Business was initially funded by initial seed capital and director loans .Kickstarter provided further £74,118 in January 2015.
This round will predominantly be used to drive three things:
1. Driving a customer acquisition plan, which generated in Facebook ad trials a 4.3% click to conversion rate, £23.25 cost per acquisition, £183.82 ave spend, and this campaign therefore demonstrates 511% ROI.
2. Hiring a COO tasked with reducing COGS by 15%. Focus to date has been on getting the product, brand and marketing right to date but on recruiting a COO we expect to reduce COGS significantly. As an example, on the backpack we engaged an alternative manufacturer in India to make a sample and give us estimated costs. The sample is great quality and net cost is 16.3% less than current manufacturer.
3. Developing the next phase of LUMO products to include charging of devices on the go and energy harvesting from the fabrics themselves.