MIRAKHL

Home gardening kits and something more.

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About Mirakhl

Management : Jung-sun Kim, Woo-young Jeong

Industry : Agricultural Platform

Number of Employees : 2

Financing Sought :$1M

Current Investors : None

Use of Funds

[Use 1] Marketing/Promotion

[Use 2] Development & Production

[Use 3] Intellectual property

Mission

To set a least mini-garden in every single household to be connected worldwide in agriculture and be mapped as an agricultural platform for potentially various needs.

Business Description

Indoor gardening stores made just under $1bn in 2015 and the market has grown 8.2% in the last five years. Only 18% of people don't garden at all because of limited or no outdoor space. We, Mirakhl, firstly focus on product development because we aim to accelerate the setting of a least mini-garden in every single household. We've completed the development of a stylish and compact gardening kit for households and also already sold 500 kits through major department stores in South Korea. It means we have 500 users and over 150 among them are registered for our application. Besides, we are the first brand company contracted with major department stores in South Korea with home gardening-type product. And our users are very various like high schools, kindergartens, research institutes, farms and individuals. In this process, we could make brand awareness high as a premium brand and also collect various customers demands in details including potential consumers on the spot. Based on this, we could set sharp targets and reasonable pricing. It really helps us to modify designs of future products. We are continuously communicating with users still. We are not just trying to develop and sell products. We will connect all the products and users with technologies like IoT and AI to complete world mapping of agriculture giving practical materials in real-time and sending messages to desired person. It will function as the biggest agricultural trade platform in the world and it gives individuals chances to participate in agricultural business as well. With worldwide real-time searches and active communication in agriculture, it is possible to grasp agricultural trends easily and quickly so that all the agriculture-related research becomes efficient. Furthermore, it can result in creating and developing new crops and needless to say, it will bring numerous change in various fields like astroponics and food industry. This is what we dreams and pursue.

Company Background

1. Team 

 Jung-sun Kim (CEO, 29) 
 2011~2014 Double-majored in horticultural life engineering and environment science.

 2012~2014 Attended GMO-related projects as an assistant at horticultural bio-engineering laboratory.

 2015 Certified as an engineer food processing by Human Resources Development Service of Korea.

 2016 Progressed a project developing home gardening kit as a director supported by the Small and Medium Business Administration

 2017 Launching basic Cudo in major department stores in South Korea

 Woo-young Jeong (Designer, 27) 

 2014 Awarded a winner in Public Design Contest by local government in South Korea

 2016 Awarded 2 prizes in D2B (Design-to-Business) Design fair contest

 2016 Awarded a winner in Reddot Design Award

 2017 Product designer of Smart Cudo 


2. Intellectual property

USA : Design registratition (Hydroponic device) #D801,213

China : Utility model patent (Hydroponic device) #201590000318.8

Japan : Design registration (Hydroponic device) #1577552

South Korea :  Patent (Methods of cultivating sprout garlic with mineral waters extracted from mica) #10-1508952, Design registration (Hydroponic device 1, 2) #30-0873609, #30-0873610

Products & Services

1. Basic Cudo

Simple hydroponic kit

Offering all the fine materials at once.

  ▶ Cultivator, seeds, nutrient solution and media

Saving people's time for searching and buying each material.

Well-designed to fit as an interior decoration.

No bugs appeared. ▶ No using pesticide.

Price : $50

2. Smart Cudo

Module type

Adjusting length and width along plant's growth or customer's taste

Sensors & Big data

Temperature & Humidity : Monitoring by related sensors, controlling by fan and mist.

Lights : Setting LED along ratio of blue, red and white.

 ▶ Accumulated data of cultivating conditions along crops users plant.

 ▶ More users, more exquisite data can be collected.

Connected to Alexa and notice like below

Water should be changed today.

You can harvest now.

Today a new crop is released. Do you want to order the seed? ▶ Order.

Your neighbor's sent you a message. ▶ Confirm and reply.

An ag-event is coming. Do you want to join? ▶ Join.

You didn't grow anything these days. Why don't you start again? ▶ Plants are recommended.

Application

Recording daily grow journal

Monitoring and controlling Smart cudo's conditions

Communicating with other users sharing know-hows and other information.

Managing 25 pots on Cudo each by images like game.

Alarming when information needs to be noticed.

3. Cudo map

Cudo map in real-time based on big data

If search 'Asparagus', various information like below are shown.


Top country growing 'Asparagus' is (USA). 

 (Further rankings are shown)

The range of growing temperature of 'Asparagus' is (10~28˚C.) 

The highest endurable gap between external and internal temperature is (20 ˚C). 

The best grower of 'Asparagus' is (James) in (USA). 

  ▶ Send messages/Start trading.

Markets

"Growing under lights is forecast to grow 6.3% each year through 2021, which is faster than the projected GDP growth rate of 2.2% over the same time period." (IBISWorld)

"1 in 3 households are now growing food." (NGA)

1. Current and projected market and growth of the industry

 (according to a special National Gardening Association report, Garden to Table: A 5-Year Look at Food Gardening in America)

 Garden market in USA: $246.6bn (2014) → $256bn (2015)

 38% of population in USA are growing food at home.  → 124,117,800 people

 Household food garden spending in USA : $2.469bn (2008) → $3.525bn (2013)

 Household with children increased participation 25% from 12 million in 2008 to 15 million in 2013.

2. Target market : Household food garden market 

 According to the 2016 IKEA Life at Home Report, 60 percent of people worldwide grow vegetables or flowers indoors.

 Market needs

 [Garden Media Group’s 2017 Trends Report] 

Consumers are demanding locally grown “clean food,” produced without pesticides. And they want their favorites year round, not just “in season.” “Growing clean fresh food is a necessity, not a luxury. With the demand for organic, local food exceeding supply, and people choosing to live in smaller spaces and urban environments, more people will grow indoors.”

 Target : Millennials (Years 1981-2000) #75 Million,  Boomers (Years 1946-1964; Ages 54-72) #80 Million

Distribution Channels

[strategy and timeline for entering the market and expanding market share]

(11, 2018) Completing a prototype of the smart Cudo.

(02, 2019) Crowdfunding; Kickstarter, Indiegogo

(04, 2019) Manufacturing the basic Cudo in other shapes and smart Cudo.

(05, 2019) Launch in Amazon.com and large franchise markets; Home depot, Costco, Wholefood, Walmart

(11, 2019) Launch in TV home shopping; QVC, HSN

(02, 2020) Building the Cudo map on website.

                  Sales to kindergartens and schools as teaching aids

(06, 2020) Sales to laboratories including universities and institutes as experimental apparatus

(10, 2020) Sales to travel agencies and insurance companies as promotional gifts

(02, 2021) Sales to hotels, construction companies and organizations for interior decoration

                  Opening the Cudo map service.

(05, 2021) Sales to international organizations (FAO, WTO) as a source of agricultural research data 

(09, 2021) Sales to space agencies (NASA) and laboratories as research materials for astroponics

[sales/advertisement strategy and media

Major and first target is Millennials (Years 1981-2000).


1. Hosting events through Social Media (Facebook, Instagram, Youtube)

 ▶ People of age 18-37 are spending lots of time for social media. They are used to seeing ads and joining events on mobile. It accelerates products to be familiar for potential customers.

2. Product giveaways for introduction to Youtube stars, top bloggers, Facebook pages etc)

 ▶ Most of millennials are following influencers on social media. They listen carefully to what influencers say and follow exactly what they do. It will help improve revenue directly and also makes brand acknowledgement high.

3. Storytelling & Charity ▶ We are not just selling products, but also visions on those. So repeatedly mention our visions on products and certain percentage or amounts to be donated for meaningful projects. It makes customers think that they are being a part of something larger simply by using our products. It also enhances our brand image positively.

4. Customer referral incentive program

 ▶ If a current customer refers a new customer to our products, both of them can get discounts or cash rewards as incentives. It will help lower the barriers to buy for potential customers.

5. After-sale customer surveys

 ▶ Contacting customers by emails and phones, we continuously collects opinions and feed-backs about our products and services(P&S). It makes customers feel that we care what they think and also we can improve our P&S continuously

Build up the successful advertising materials resulting from above, move to second target Boomers (Years 1946-1964)


People of ages 54-72 are used to buying products on offline stores and TV home shopping.

For these channels, trustworthy materials and brand awareness are necessary. That's why the above measures should be processed first. It will help enter offline stores easily and increase the numbers fast.

As forming and raising brand awareness, the demands of companies also become high in chain.

Aggressive email marketing with e-books should be mainly processed for B2B.

Competition

1. AVA (www.avagrows.com)

$132,393 funded through Indiegogo (August 11, 2017) 

Prototype stage

HD camera tracking plant growth

Application : Connecting to Wifi and smart devices, Optimizing plant growth and care, Alerting to harvest, Getting recipes

Price : $80 ($229 including camera)

2. Edn (www.edntech.com)

Composition : LED-attached hydroponic device and seeds (Basil)

Application : Checking the plant growth level, water level, Light schedule, Monitoring temperature

Price : $199

 [How Cudo is unique and different]

Cudo is a product focusing on interaction between users. On the other hand, other competitors including AVA and edn have focused on connectivity only between user and product.

If general media are used when doing hydroponics, molds problems are appeared often. This products use general media.

 ▶ Bugs never appeared on Cudo. (Zero complaint)

Smart Cudo optimizes LED along ratio of red, blue and white. Only white LED makes plants grow weak. That is, Cudo makes stronger and ideal crops indoor.

3. Niwa (www.getniwa.com)

3-types along sizes, custom LED Lamp, heater & fan, water Pump, wi-Fi Connectivity, application(monitoring and controlling conditions), community (4 postings uploaded)

 [How Cudo is unique and different]

Cudo can be easily adjusted with length and width along plant growth level because it is module-type. However, Niwa has 3 different size. It requires different moldings and it becomes to high costs including shipping charge. 

 ▶ Module-type requires less cost in both molding and shipping charge. That means, Cudo has competitive prices.

Niwa is trying to make community between users through website but it is not effective. Only 4 postings are posted so far.

 ▶ Over 150 app users of basic Cudo have been signed up during a year and communicated.

Cudo's ultimate goal is not just forming community of users, but building a real-time agricultural worldwide map based on data for agriculture-specialized trade and research.

Financial Projections

Contact

Jung-sun Kim, CEO

kjs@mirakhl.com

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