Galileo Sat. Con. Sys. is a mature start up with an existing solid client base & cash flow. Focused on web based telemetry, fleet management & location based services, (GPRS/GPS tracking)...
by Valentino Bugatti
Over 2600 vehicles currently under adminmistration
We are actively seeking equity financing of 150,000€ to 500,000€, principally to develop a commercial network, & to strengthen the R&D department so as to service a wider range of hardware, extending to smartphones. If you feel that this opportunity may fit your investment criteria, we would be delighted to answer any questions you may have and arrange a meeting to discuss the matter further.
Galileo Europe S.L.L. is more than a “startup”, having begun operations under the name Localizadores Europa S.L. in early 2009. Presently we have about 2600 vehicles paying monthly fees. We project 3000 to 3500 by year end and in 2014 we will see 6000 to 10000 vehicles reporting in an international arena.
We already have Agencies in Philippines and Morocco, as well as direct clients in UK, France, Holland, Argentina, Mexico, and Singapore where the system works seamlessly. We are keen to open markets in Australia, Malaysia, and other SE Asian countries. South America is an exciting market, as are the Indian continent Russia and the northern Europe. Truly a global perspective in a developing industry.
The firm presently has a President (capitalist founder), a General Manager, a Technical Director and his assistant, a Commercial Director, an Operations Manager, and an accountant. We have several technicians for installations, a web developer, and several contracted salespersons. As is the case with most healthy start-ups after the first year of operations, we have a situation where our turnover now almost meets contained expenses.
The firm has seen investment of about €400,000, to date, made up of about €50,000 in bank debt (€20K OD, €10 discounted receivables, 20K ICO of 60K original loan), and about €200,000 (long term debt) to the capitalist founder. The principals have invested about 150,000€ actual cash, which includes as I mentioned the bare minimum operations costs and subsistence remuneration to the partners and founder staff.
The investment we seek will be a minimum 150,000€ to be spent over several months in developing a commercial team and the corresponding materials to assist sales of the products. This investment is modular. Our plans are to sequentially open new markets in several countries. We would be prepared to give up about 20% of the JV for those initial funds… or more if a greater sum is accompanied by other value add-ons, such as the technical support, and the commercial network we seek.
The investment will also permit us to hire the resources to expand our R&D team so as to grow the hardware base which reports to our platform. This will allow us to offer our services to firms which already have fleet management hardware, but antiquated interfaces… (huge market potential) – and in the short term to create applications enabling mobile devices, smartphones and tablets to report to our platform.
We don't object to a clean start JV where the current company contributes its know-how and assets and the investor his commercial network, tech support and say a year of operating costs defined by a business plan in which he may have a say.
If the partner requires a controlling interest we would consider this if they hold a similar view of the future as we do, value our contribution, and commit to our continuing to be involved in management of the company.
We do have a business plan which we have updated each year. We have (unaudited) accounts.
Prior to taking the matter to a more full and formal disclosure which you will certainly require, to be sure you are interested, and so as not to waste time, we request an agreement regarding fees, non-disclosure, confidentiality… etc.
Contact Valentino Bugatti • CEO Galileo Satellite Control Systems