Yepzon to launch child positioning solution for parents
Yepzon Group, a Finnish developer of wearable technologies and smart clothing applications, has launched its first consumer product for international pre-sales.
Based on safety technology, this wearable positioning service for children combines positioning technology, mobile equipment and a cloud service.
“In 2013, we reviewed statistics on missing persons and immediately started product development,” says Otto Linna, Yepzon founder and chairman of the board. “In the EU and US alone, more than a million children go missing each year. More than 100 000 of them will never be found. With modern technology, this could be a thing of the past.”
The small Yepzon positioning device goes where the child goes, and if the child goes missing, the global user interface will position him or her. The device has no buttons, is instantly ready to use and its battery lasts up to several months.
“Key drawbacks of earlier equipment have included their complexity in use, high price and poor battery life,” says Linna. “Our product will solve these problems. The company’s vision is to make this technology available for the safety of all children globally, regardless of their parents’ income level.”
Having attracted a large number of pre-orders from distributors, the Yepzon products will be available for Christmas deliveries in 2014. The Yepzon consumer products are developed and manufactured in Finland. The main market areas are the EU, the US and Russia.
The technology, worth close to 1 million euros, was brought to the market in a short time frame: the company started operations in October 2013, when it raised a considerable amount of startup capital and gained a committed owner base. Funding for the development of the technology came from private investments and the Finnish Funding Agency for Technology and Innovation Tekes. Last month, the company raised an additional 150 000 euros from angel investors.