Joy raises $ 1.5 million to launch smartwatch

by bold-lichterman

  • After a successful crowdfunding campaign, Joy raises $ 1.5 million in funds.
  • The goal is to strengthen the team and develop the brand

The amount

The start-up Joy, specializing in the manufacture of connected watches for children, has completed a funding round of funding of 1.5 million dollars. 50% of investors are Americans (business angels and the SOSV investment fund) and 50% French (Angélique Gérard, Paul Boursier (the creator of Smartbox), Grenoble Angels, SAMBA (Savoie Angels) or even Crédit Agricole Investissement Rhône- Alps).

From June 7 to July 22, 2016, the start-up launched a crowdfunding campaign on Kickstarter and Indiegogo to develop its Joy product. In total, this operation raised $ 1 million.

The market

Launched in 2016, Joy’s Octopus connected watch takes on a slightly more playful side by teaching children to tell the time and perform daily tasks. The information is then sent to an application. Parents thus have the opportunity to congratulate their children.

In the market for connected watches for children, the French start-up must in particular face Doki, who designed the Doki Watch, a connected watch allowing parents to monitor their children remotely. Joy should also be wary of Joyray Tech, which marketed the Jumpy watch. This offers children the possibility of communicating with their parents via messaging.

The objectives of the Start-up

This first fundraising should allow Joy to strengthen its team with the arrival of new profiles and to develop the brand.

Founders: Sam Hickmann and Omar Alaouf

Creation date : 2016

Fundraising : $ 1.5 million

Seat: Annecy (RD in San Francisco)