Need some help? Close Help

Bioself Technology

Consumer Products
UK - East
Date Rated:
Valuation (Pre Money):
Industry: Consumer Products
Location: UK - East
Platform: Crowdcube
£250,000 Seed
Valuation: £4,251,701
Date Rated: 04/07/17



Tax Status: EIS

Business Summary

Bioself Technology is developing the Sensate, a device that combines Vagus Nerve stimulation with biofeedback techniques to aid relaxation. These funds will be used to complete development and launch on Kickstarter.

Financial Overview

Date (y/e) Oct-17 Oct-18 Oct-19 Oct-20 Oct-21
Sales Oct-17£805,736 Oct-18£4,118,776 Oct-19£11,186,336 Oct-20£24,384,336 Oct-21£40,090,336
Gross Profit Oct-17£505,736 Oct-18£2,668,776 Oct-19£7,016,836 Oct-20£15,723,336 Oct-21£26,166,586
GP as % sales Oct-1763% Oct-1865% Oct-1963% Oct-2064% Oct-2165%
Overheads Oct-17£426,424 Oct-18£1,225,276 Oct-19£2,259,550 Oct-20£3,004,780 Oct-21£3,400,560
Operating Profit Oct-17£79,312 Oct-18£1,340,706 Oct-19£4,600,760 Oct-20£12,348,830 Oct-21£21,855,500
OP as % sales Oct-1710% Oct-1833% Oct-1941% Oct-2051% Oct-2155%
Closing Cash Oct-17£1,174,919 Oct-18£1,468,791 Oct-19£3,522,658 Oct-20£10,107,229 £23,294,075

Note: This financial information has been sourced from the company on 30/06/2017 or from public sources. Financial data is NOT verified by Wheatfromchaff Ltd.
The CTO's product development company brings a wealth of technical skills to the table, and the CEO has a long career in alternative therapies. The team lacks a dedicated marketer though.
While this may be the CEO's first attempt at a hardware company his co-founder is appropriately experienced on that front. Both have founded companies before and they are well advised.
Both Founders have other commitments, though the CTO's is with the company developing the Sensate device. Management salaries for the next year comprise a high proportion of this raise.
The market for wellness aides is large and growing, as is that for wearable devices, so the intersection is a good place to be. But no comparable devices have yet broken through to the mass market.
There have been no formal clinical trials yet but early user feedback is good, though development work is required to ready the consumer product for launch, and this appears to be delayed.
The company has applied for patents to protect key product elements and it appears unique in its use of infrasound to stimulate the Vagus nerve combined with additional feedback mechanisms.
Bioself is relying on Kickstarter to generate forward sales of £800k by November, which given the current product delays and limited marketing spend seems very optimistic.
Based on the projections there is ample headroom thanks to a £1m round in October. Further product delays could push this back though with consequent financial strain.
Even based on the very optimistic growth projections, give the high entry valuation an exit would need to be at a high multiple relative to other consumer goods companies to give investors high returns.


Sensate's non-clinical triallists appear to be very happy with the devices. But even if the expected demand for the device materialises, meeting and supporting it will be a considerable challenge, and as yet we have little visibility of the subscription product that will be the key driver of recurring sales and a major justification for the high current and expected valuation.

There is another major round of investment due imminently at an expected valuation of £12-15m, which represents a 3-4x increase in just a few months. This may not be realistic but investors should certainly consider obtaining pre-emption rights, which unfortunately require a minimum investment of £10,000.

Related Links

Crowdcube Pitch


Right To Reply

Are you the entrepreneur? If you would like to publish a comment on our rating, please contact the ratings team.

Latest Forum Comments

Read All Comments


The views and opinions expressed on this bulletin board are the sole property and responsibility of the author. Neither Crowdrating nor Wheatfromchaff Ltd, nor any of the directors or officers of Wheatfromchaff Ltd accept any responsibility or liability for them. Readers should be aware that comments do not constitute investment advice and may be inaccurate. Please seek to verify and take advice on all comments before relying on them in the context of any investment decisions you may make. if you wish to use the bulletin board please be aware you are accepting full responsibility and liability for what you write. Please look here for more specific rules we impose on people using our bulletin boards. We moderate all bulletin boards and we reserve the right not to publish your comments.


Your capital is at risk when you invest in shares and debt securities. You can lose some or all of your money and may not be able to realise your investment. Therefore you should should never invest more than you can afford to lose. If in doubt about the suitability or tax implications of any investment, please seek independent financial advice. 

Information published on this website and any other reports or ratings published on or by Wheatfromchaff Limited (trading as Wheatfromchaff) have been prepared by us in the United Kingdom for information purposes only. Wheatfromchaff Ltd is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. 

No content on this website or on any reports or ratings published on this website nor any copy of it, nor any other reports or copies of them published on may be reproduced, redistributed or copied in whole or in part for any purpose. Any and all reports have been approved by, and are being distributed in the UK and the European Union (EU) only and are not to be distributed in any other jurisdictions where their distribution may be restricted by law and persons into whose possession this or any other reports come should inform themselves about and observe such restrictions.

This report and any other reports published on do not constitute an offer or a solicitation to buy or sell any securities referred to herein. It should not be so construed, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. The information on this website or in reports or ratings published by Wheatfromchaff, or on which this or any other reports are based, has been obtained from sources that Wheatfromchaff believes to be reliable and accurate, and in accordance with COBS 2.4 of the FSA Handbook we have verified it to the best of our ability. However, it has not been independently verified and no representation or warranty, express or implied, is made as to the accuracy or completeness of any information obtained from third parties. The information or opinions are provided as at the date of this report or any other report publication dates and are subject to change without notice. The information and opinions provided in this and any other reports take no account of the investors/ individual circumstances and should not be taken as specific advice on the merits of any investment decision. Investors should consider any or all of the reports or ratings we publish as only a single factor in making any investment decisions.  

Wheatfromchaff does not accept any liability whatsoever for any direct or consequential loss however so arising, directly or indirectly, from any use of this report nor its contents. Investors may receive back less that they invested as investments may fall as well as rise in value. Investors should obtain independent advice based on their own circumstances before making investment decisions. By accepting this report you agree to be bound by the foregoing limitations.

The Ratings we publish have been approved and issued at Financial Promotions in the United Kingdom by Wheatfromchaff in the United Kingdom who is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. Wheatfromchaff Limited registered office is Kilver Court, Kilver Street, Shepton Mallet, Somerset, BA4 5NF and telephone number +44 (0) 1749 347 577. Telephone calls may be recorded. VAT No: 214 0196 49

© Wheatfromchaff Ltd All Rights Reserved February 2017