REELOQ

[Name] REELOQ

[Elevator Pitch]

[The Story] “We develop lifestyle accessories that keep smartphones and cameras safe during outdoor activities. With our innovative patented locking mechanisms, our products make sure your gear is always secure and help you take photos without the fear of dropping your phone.”

When Lukas Watzinger smashed his phone while trying to take a selfie during a mountain-climbing trip in 2018, he was determined to make sure it didn’t happen again. He looked online to see if there was an accessory that could secure his phone during his outdoor pursuits, but couldn’t find anything suitable, so he set about designing his own product. With a background in mechanical engineering and a passion to succeed, he developed a unique accessory with a patented anti-drop system. Small, compact and practical, it can be attached to any smartphone or action camera and ensures the equipment stays safe and secure at all times.

At a networking event in autumn 2018, he met Julia Schadinger, who was very excited by the business idea, so they joined forces to bring the product to market. They applied to take part in the Austrian startup reality TV show 2 Minutes 2 Million, during which they successfully pitched for a chance to win investment. However, they decided not to move ahead with the investment and instead go it alone. By the time the program aired, their webshop was ready to launch, and since then they have seen rapid growth and are now expanding across Europe.

[Funding History]

Bootstrap Angel Pre-Seed

Lukas and Julia started by bootstrapping the business while they designed, planned and tested the idea. Following that, they received pre-seed public funding from the Austria Wirtschaftsservice (aws), which they used to create the first prototypes. They then received backing from an investor, who received shared equity in return for their investment.

[Milestones]

Appearing on 2 Minutes 2 Million while launching our webshop in May 2020.

Partnering with the Austrian Federal Fire Brigade Association (ÖBFV) and being listed nationwide at the Austrian retail giant Gigasport.

Hiring our first employee in February 2021.

Scaling the business internationally and entering new regions, including Germany, Slovenia, Italy, Switzerland and France.