We patented a tracking device connected to Gsm network to enable baggage and cargo location while complying with Aviation safety regulations. On top of tracking service we supply innovative travel insurance package that enable immediate compensation with smart contract and no human intervention. Will enable light speed compensation in case of luggage and cargo mishandling and flight disrupted according to European Regulation 261/04. 20 M of pieces of luggage get delayed every year in aviation travel. 1 M are totally lost, and never given back to the owner. 60% of aviation passengers would like to keep track of their luggage in real time. Goods are shipped by air but freight forwarders have no real time tracking.
Our target customers are aviation passengers interested in tracking: according to International Air Transport Association (IATA), that comprises 80% of world airlines, 60% of total passengers would like to have notifications of their luggage in real time. Among them, we are targeting first those travelling in premium class, who are less price sensible: 200 M passengers globally. They are part of those listed among the frequent fliers of every airline.
Secondary target are Aviation Cargo customers. They are to be reached through freight forwarders and cargo shippers. In 2016, 53 million tons globally were transported via air, about the 35% of the global Trade. $ 15,3 BLN worth of good every day. We want to offer them the chance to have immediate tracking of their precious cargo, even if small in quantity and value, in real time.
Aviation passengers are growing yoy. In 2018 they were 4,5B. Cargo shipments are not growing but growing is the desire to innovate in that service.
There is currently no way to track your checked in luggage in a safe mode. Now passengers rely on illegal trackers, BTLE and beacons supplied by some local companies and not adopted worldwide.
Our device and its algorithm were patented in June 2018. Vodafone (shop.v.vodafone.com/UK/V-Bag), Lugloc (www.lugloc.com), Trakdot (www.trakdot.com). Our service offers Innovative Package of connected insurance services; None of the competitors is compliant with all Aviation Safety Regulations issue by both EASA and FAA. They only comply with FAA. Also, indirect competitors were Smart Luggage producers: unfortunately some of them were banned by IATA December 2017 Regulation