Crowdfunding: Plant Jammer needs to cross the valley of deathMichael Haase2. October 2018
Plant Jammer developed a wonderful product and are receiving glowing reviews from chefs and users. They have 5.000 active users and investments from Miele and 4 angel investors. Also, their team is strong with a former McKinsey consultant as the CEO, surrounded by powerful people in data science, software development, and food tech. On the surface everything is perfect. But the startup is not out of the woods yet …
Now, Plant Jammer is in ’the valley of death’
Plant Jammer’s app is still free and they are building their commercialization models (see their 3 models below this article). Hence, Plant Jammer is still highly dependent on investments. That makes them vulnerable.
Countless startups die in what’s called ’the valley of death’: They’ve developed a great product, but do not manage to scale and commercialize fast enough. This is a difficult phase, because it requires a different focus and competences than building a product. Also, because it is an expensive and risky part of the startup journey, many startups don’t find the capital for it, before they run dry.
”Plant Jammer fights hard to get the investments required, but we need to show that we can have ’paying customers’”, says Michael Haase, Founder of Plant Jammer. ”It would be super smart if our existing customers and supporters could crowdfund us over ’the valley of death’ while also proving that people are willing to buy our product”.
Can crowdfunding carry Plant Jammer over the valley of death?
How to support? For 6.99 EUR (50 DKK) a supporter gets 3 months access to Plant Jammer PRIME. The access is doubled to 6 months if the customer successfully recommends it to a friend.
”We are creating the world’s best virtual cooking assistant and now we’re asking friends and supporters to be our first customers and give us a few more months, before we have to ask for external funding”, says Michael.
”We believe we found a viable alternative to Amazon’s foodchain vision, centered around brutal efficiency. On the contrary, we want to give a Nordic fingerprint on the global foodchain, centered around sustainability and design. However, to make that happen, we need your help to cross the ’valley of death’, Michael finishes.