Location: Hvalstad, Norway Growth Phase: Early
Funding needs (NOK): MIN: 1 000 000 –MAX: 2 000 000
The Business Idea
Art for everyone.
Kreoz is a digital platform aiming to change how art is shared and enjoyed. . We provide easy, affordable and instant digital access to high quality visual art for display on TVs. Think Spotify for art. Up-and-coming and famous artists alike submit work to our platform to earn money and recognition. Art lovers will use our AI-driven recommendations to find the perfect art for their home.
The challenges for art lovers and artists:
- Art is expensive
- Lack of knowledge about art
- Limited wall space. Difficult to match art with room colors
- Talented artists struggle to monetize & market their art
The solutions:
- Affordable subscription, no new hardware needed (service is currently available through iphone and Apple TV)
- Personalized recommendations
- Change artwork with one click Color matching algorithms
- Helping artists reach new and bigger audience
How we’re different from competitors:
- Accessible – Only service offering digital access to quality art without need for proprietary hardware
- Technologically advanced – Pioneer in introducing motion art and developing AI powered recommendations
- Speed – Moving quicker than main competitors in terms of adding features and content
Business Model Freemium. Our basic subscription is free, and gives limited access to our art library. The 9.99$/month premium subscription gives full unrestricted access. Over time, we will gradually increase the differences between basic and premium to increase conversion to paid customers.
The team
Erlend Pena Aamot, CEO / Co-founder
12 yrs experience in sales & strategy. Started companies in engineering (branch), mgmt. consulting & wine imports . Finance expert.
Filippo Tempia Bonda, COO / Co-founder
15 years in tech companies. Experienced in product devt. and –management and expert in digitalization and business model innovation
Nikolay Nankov, Developer
Expert iOS developer. Made Trigraphy art creation app for iPhone. 1.5 mn downloads and multiple times “Featured App” by Apple.
Betty Bigas, Curator
Artists and gallerist. M.Sc multimetida Art and Design. Experience as Head Curator for digital art startup. Long experience with art curation.
Magdalena Z. Rusin, Social media
Experienced social media manager and helped build fashion brand. Influencer with over 5000 personal followers. Driving organic user growth & artist engagement.
Gaurav Patel, Intern
MSc. in Applied Data Analytics at Bournemouth University. 8 years in data analytics. Developing Machine Learning – based art recommendations.
The Market Potential
Target customers:
- Users: Art lovers; New home owners; Interior desingers.
- Artists: Talented artists looking for bigger exposure and name recognition.
The size of the ‘wall décor market’ is estimated to be $67 Bn. (Marketwatch.com) and the ‘potential digital wall décor market’ is estimated to be $25 Bn. Kreoz estimate the potential digital market based on digital taking similar share as current streaming share of music market (long term as people get ever more and larger screens into their homes).
In addition, the Fine Art market, estimated to be $65 Bn, is rapidly being digitalized driven by Covid 19. Most large museums and famous galleries are looking at ways to make their art available online. Kreoz is well positioned to take a leading role in this shift.
Other
Existing investors
- Karl Munthe-Kaas: Experience from McKinsey and Co-Founder & CEO of Kolonial.no, co-founder of NaboBil.no and Evacuaid.
- Magnus Strømmen: Financial Director at Yara International McKinsey Investor several startups.
- Elias Aamot: Software eng. & linguist Google
- Daniel Vardhan Aasheim: Experience from McKinsey BCG , and founded a consulting company.
- Torje Tvedt, Financial Analyst Master at NTNU, Education at Boston University and Experience as Angel investor.
- Conor Twomey: EMBA at IE Business School and Senior Manager at DocuSign.
- Alberto Tempia Bonda: MBA at Haas Business School – Berkeley and Product Manager at HPE TIM Mobile – Italy.
Pitch deck and further info available upon request.