AutoRing is a new type of Dash Cam. However, instead of filming what is going on outside the car, it is set to record break-ins. Owners have a security fob that disarms the system when doors are opened, but if a thief enters the vehicle, the system will alert the owner within seconds and 20 seconds later a second alert with 3 pictures of intruder. There is also a GPS tracker to allow the owner to advise police where their vehicle is.
AutoRing is the next generation of security. Thieves are now able to capture the codes from key-less entry vehicles even if they are in your home or in your pocket. The key codes is always transmitting, so a thief only has to be close by to capture the code. AutoRing is a stand-alone self-install product that will help police to build up a portfolio of who is stealing vehicles, plus the sooner you can advise the police of a theft the better your chance of recovery, AutoRing only takes 5 seconds before it send its first alert.
Install only takes around 5 minutes. Two sensors are placed inside the front door seals. As soon as the door opens it breaks a field and sends a signal to a control box that is installed on dash on the passenger side with a 180 degree field of view. We have split the two alerts in order to get the first alert to the customer as soon as possible followed by images.
Products today are focused on what is going on outside the vehicle, or how your vehicle is working via the OBD port. We are only focused on break-ins. We have designed the product to sell for under $200. We also provide a service contract at a cost of $6 per month that provides all the data per month needed to cover any eventuality. We are looking to target the automotive after-sales market in the US, UK & Europe to start.
We are now just finishing production of our 2nd version prototypes. We are using a Global Roaming Sim that locks on to the strongest signal available in whatever country they are sold in. We are currently able to service 90% of the worlds markets.
Given the current uncertainty of global trade, we are looking to manufacture the product in either the U.S or UK. Just before the pandemic we showed our phase 1 prototype at the SEMA Auto Show in Las Vegas November 2019 to gauge interest in this new product and won a Global Media Award for innovation, plus we received good interest from automotive distributors across the world.
We expect to launch the product in September this year. Our research indicates a turnover of 20,000 units in year 1 and 100,000 units by end of year 3. We already have version 2 & 3 on the planning table. We will be incorporating a full video streaming and two way voice communication.