VIENNA, September 21, 2016 — Austrian hardware startup Timeular announces a EUR 200k pre-seed financing round just one day after starting a crowdfunding campaign on Kickstarter for their revolutionary time-tracking device ZEI°.
Today, Timeular, the Austrian-based hardware startup, announces a EUR 200k pre-seed investment round from Austrian pre-seed investor Pioneers Ventures and Singaporean hardware accelerator enchant.vc. The investment will give the company financial resources needed to get the product ready for mass production and subsequently enter the mass market. Besides the funding, both investors will actively support Timeular with their network in Europe, North America and Asia.
Timeular’s revolutionary device ZEI° is an 8-sided polygon that makes time-tracking easy as pie. For each side an activity is assigned and with a simple flip of the device the time for the respective activity is activated. The sides of the device can be customized easily by writing, sticking, or drawing something on it. Timeular integrates seamlessly into existing time-tracking solutions.
Easier and faster time-tracking not only saves a lot of time for professionals of all kinds, it will also make them more productive as they know better what they spend their time on and it will make them extra money by saving them from forgetting to bill hours to their clients. Ultimately, Timeular aims to build a sophisticated productivity improvement system by analyzing aggregated anonymized data from millions of users.
The device has already been successfully shipped to 100 beta customers in 15 countries all around the globe and is available as of now on the well-known crowdfunding website Kickstarter. Since a lot of fixed costs are being covered by the pre-seed investment, the money raised on Kickstarter is used to pre-finance the actual production, certification and shipping costs. The devices will be shipped early 2017 and are available now for up to 50% off the retail price for early-birds.
The company was founded in 2015 by three Italians and one German who all knew the problem all too good. “Once you start looking into it, you realize how big of a problem time-tracking actually is and how many people have to do it on a daily basis. We are here to make their lives easier”, says Manuel Bruschi, CEO of Timeular.
Philipp Stangl, managing director at Pioneers Ventures, adds that “hardware-enabled software and the interconnection of the analog and the digital world in smart ways are a big upcoming theme in the tech world and we are proud to lead the way by supporting the Timeular team”.