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There are 70 million golfers in the world, and the market has been growing by 10% for several years now, both in terms of numbers playing and in terms of equipment.
While the market is mainly located in the USA and Asia, Europe is not to be outdone, with 10 million golfers. The United Kingdom, Germany, France, Sweden and the Netherlands are among the European countries that play the most golf.
80% of golfers own a golf trolley, 30% to 40% of which are electric trolleys (* see study Golfers and trolleys – Botronics 2023).
Trolleys are mainly sold through distribution networks.
The price of an electric trolley varies from €600 to €6,000 depending on the type, model and brand.

Our persona is called Guy, he’s 61 years old and enjoys an affluent income. He’s a regular golfer, and although he’s not a great sportsman, he wants to keep fit.
Like many golfers, he’s attracted by new technologies, which he’ll happily try to incorporate into his equipment in order to stand out from his fellow golfers.
Above all, he wants to improve his level of play, as his back is bothering him, he would like to minimise the distance he walks along the course, and he hates losing his balls in the rough because it costs him penalties that impact on his performance.

Golfers take with them to the course a golf bag containing up to 14 clubs, their drinks and snacks, their rain gear and, above all, lots of spare balls. The bag weighs around 20kg and has to be carried along the 10km course.
The solution, which has existed for decades, is to have the bag carried by a trolley.
It is therefore the golfer’s responsibility to manage his trolley. He can’t go wherever he wants with this trolley on the course. Managing the trolley is not always easy on hilly courses, which means that our persona has to give up his weekly walk by taking a cart.
The trolley absorbs a lot of the golfer’s energy and concentration to the detriment of his focus on the game.

Our autonomous trolley moves without the golfer’s intervention, respects the rules of etiquette and manages the equipment, freeing up the golfer’s mind for the pleasure of playing golf.
He knows the courses, which enables him to help the golfer find his way around.
It helps the golfer find the ball, reducing penalties and speeding up play.
It films the golfer during his swing, enabling him to improve thanks to immediate feedback on the course and to receive advice from his teacher based on real-life images.

Our core business is the development of autonomous vehicles based on embedded artificial intelligence technologies, the first vehicle being a golf trolley.
We focus on :

  • Product development: hardware and software, with a constant focus on ease of use
  • Final assembly to guarantee product quality
  • Developing our brand
  • Co-ordination with partner manufacturers
  • Managing the user community and collecting usage data.

Interaction with golfers takes place through manufacturers’ brands

We want to create a brand identity recognised by manufacturers as a supplier of AI technology.

We are 3 founders specialising in artificial intelligence and robotics.
We are passionate and enthusiastic, and we cultivate a craftsman’s mindset in which corporate culture, knowledge sharing and personal development play an important role.

Our development plan is based on two main phases
In the first 18-month phase, we are concentrating on :

  • improving and industrialising the product, the first version of which is already operational
  • selling the first units directly to a community of « ambassadors » and starting the feedback loop for customer development.
  • Initiate a digital marketing strategy, but also on the golfers’ playing field, mainly clubhouses, sponsored competitions, etc., as well as taking part in a number of trade fairs.
  • Initiate contacts with trolley manufacturers with a view to phase 2. We already have some contacts.

In the second phase, our activities are rapidly expanding into neighbouring countries, then the rest of Europe and finally the rest of the world (USA, Asia).
Licensing our technology to trolley manufacturers (B2B). We have already received indications of their interest (MoU).

We have drawn up a 5-year financial plan based on the assumption of sales to forklift manufacturers.
The key figures are

  • Sales of EUR 12 million (9,000 AI units for forklift trucks) in 2028
  • A gross margin of 70%, which is typical for the sale of technology products
  • The team will grow from 3 to 29 people, mainly in R&D and marketing.
  • Break-even in 2026
  • An EBIT margin of 30% at cruising speed

To implement this plan, we need financing of 3.5 million over 3 years, of which 2 million is in the process of being secured.

Fund raising tour

In order to cover our need of 2 Mio EUR:

  • We have completed a first capital increase (3F + BA) of €170k and obtained aid from the DGO6 for an amount of €400k over 2023-24
  • We would like to complete a €500k round (capital or CB) in Q3/2023 subscribed by
    • 50% initial investors
    • 50% a VC (securisation on going)
  • Will complete a second round of €500k in Q1/2024 based on milestones being reached (see next slide), subscribed by
    • 50% an additional private investor to be identified
    • 50% a VC (same VC as previous round in principle)
  • Seek €500k of innovation funding in Q2/2024 with the support of RW guarantee mechanisms, e.g. equivalent to Novallia