MarkSetBot

There's A Botter Way

MarkSetBot

There's A Botter Way

Detroit, MI
Sports
We are a robotics company that is positioned to disrupt the marine industry, starting with sailboat racing and poised to move into other aquatic use applications. Our robotic buoys are self-propelled and use GPS technology to zero in on a specific location and anchorlessly hold position until instructed to move. With a user-friendly mobile app, easy assembly, and effortless routing and repositioning, we believe we are transforming the way sailboat races are run. The sailing industry is our immediate focus and there’s a compelling market for our product. Looking forward, our patented technology – the ability to deploy, operate, and monitor fleets of aquatic drones – has applications in many other verticals and we’re primed to license to these industries.

$860,982

raised
149
Investors
$10M
Valuation
$1.00
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
26
Days Left

$860,982

raised
149
Investors
$10M
Valuation
$1.00
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
26
Days Left

Rewards

Get rewarded for investing more into MarkSetBot:

$250+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
Tier 1 perk ($500+)
Receive a set of four environmentally-friendly MarkSetBot reusable "solo" cups, plus stickers to deck out your car, laptop, etc.
$1,000+
Investment
Tier 2 perk ($1,000+)
Branded Stickers, 5% matching donation to support the non-profit Sailors for the Sea, Stainless steel water bottle, laser-etched with MarkSetBot and Sailors for the Sea logos.
$5,000+
Investment
Tier 3 perk ($5,000+)
Receive branded stickers, an insulated vest embroidered with a MarkSetBot Investor Circle logo, and Investors' Circle VIP access to our annual meeting, happy hours, and other social events hosted by MarkSetBot throughout the year.
$10,000+
Investment
Tier 4 perk ($10,000+)
5% bonus shares, insulated vest w/ logo, recycled sail cloth cooler bag w/ logo, and Investors' Circle VIP access to our annual meeting, happy hours, and other social events.
$25,000+
Investment
Tier 5 perk ($25,000+)
8% bonus shares, branded stickers, insulated vest w/ logo, a Super Yacht Experience, Investors' Circle VIP access to events.
$50,000+
Investment
Tier 6 perk ($50,000+)
12% bonus shares, an insulated vest w/ logo, a SailGP VIP boat and Adrenaline Lounge access, and Investors' Circle VIP access to events

Reasons to Invest

  • We have a track record of execution.  

Our team has a proven record of starting, growing and selling successful businesses. Our expertise is in designing and delivering technology-based solutions to complex problems.  Each member of our leadership team has more than 20 years of entrepreneurial experience, and we have structured all of our companies with the same proven methodology for running successful ventures.  


  • There’s a buzz about MarkSetBot.  

We have interest from the pinnacle of sailing. MarkSetBot is used regularly at major international sailing championships, and our momentum within the highest professional sailing circuits is growing. Historically, the sailing industry has embraced advancing technology and we have partnerships in place with key industry leaders to spur adoption at all levels of the sport. These partnerships generally take the form of an integration of a company’s product into our app and access to their code to do so. 


  • We have traction, and tremendous untapped market potential.  

Our patented technology is in production, proven on the water, and used around the world. Even still, there is significant growth opportunity within the worldwide leisure marine market which exceeded $110 billion dollars in 2019. To reach that mark, we have an established international dealer network, now in eight countries on four continents.  


  • Application of our tech reaches far beyond sailing.  

Our core technology—the ability to deploy, operate, and monitor fleets of aquatic drones—has applications in verticals ranging from security, to entertainment, to water quality testing and more.  We have refined our technology through the rigors of sailboat racing (our personal passion), and are ready to license to larger industries.  

OVERVIEW


Improving the Quality of Sailboat Racing



MarkSetBot robotic buoys are used around the world for sailing races. It’s an environmentally friendlier, cost-effective, simple-to-use and precise alternative to traditional buoys. In sailboat racing, boats sail courses that are marked by buoys, traditionally hand-set by groups of staff and volunteers in fleets of power boats. Before MarkSetBot, it required an inordinate amount of manpower and resources. Our technology provides a simple, more eco-friendly solution while also reducing the personnel involved and takes fossil fuels out of the equation. With our user-friendly mobile app, simple set-up and ease of use, we have found that MarkSetBot improves the quality of racing, cuts down on volunteers, saves money, lightens sailing’s impact on the environment, and makes it easier to run great races.


THE PROBLEM


Managing sailing racecourses is a logistical nightmare


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Sailboat racing is a multi-billion dollar industry and it’s full of innovation and technology; high tech boat design, cutting edge weather monitoring, even the shoes sailors wear. But the entire racing experience depends on the unbelievably archaic and manual chore of setting and adjusting racing buoys (or marks) by hand. It’s exhausting, time-consuming and environmentally unfriendly. 

 

Competitive sailing races require well-set buoys. The buoys mark the course, and are placed in relation to the wind. Traditional mark-setting and race management requires a team of people manually placing and anchoring buoys. But it’s not a “set it and forget it” system.  A good racecourse needs constant adjustments. Different sized boats need varying length courses. When the wind shifts, and it frequently does, the mark-setting team needs to pull the anchored marks and reset the course. Often, this reset can happen more than a dozen times throughout a day of racing. In venues with deep water, like the Mediterranean with depths of more than 500 meters, this creates some major logistical challenges. It’s frustrating and exhausting work for the mark-setting team, and slows down racing for the sailors.  

 

Environmentally, traditional course-setting creates significant challenges. Races, from local, weeknight around-the-buoy races to the highest professional circuits, often require fleets of powerboats setting and adjusting marks, burning fossil fuels, and consuming volunteer resources. In deep water venues, this pollution is often compounded with marks set using line and cinder block anchors that are abandoned at the end of each day. Miles of line and piles of blocks at the bottom of the world’s most beautiful lakes and oceans have left local governments and organizations scrambling to reconcile lost animal life and damaged ecosystems due to sailing practices. 


THE SOLUTION


Precise setup, environmentally friendly and cost-effective



MarkSetBot makes precise course setting simple. What once was arduous work, now can be accomplished with a quick tap on a mobile device. Our robotic buoys are self-propelled and use GPS technology to zero in on a specific location and hold position until instructed to move – no anchors needed. With easy assembly and effortless routing and repositioning, they are transforming the way sailboat races are run. 

 

With MarkSetBot, all you need is a smartphone and you have total control of the racecourse. Just tap where you want the marks to go on our simple-to-use mobile app, and they quickly move into position. Our buoys provide perfect placement and easy, efficient repositioning via remote technology, even in high winds and waves. 

 

MarkSetBot also lessens the environmental impact of sailboat races by reducing the amount of fossil fuel burning power boats needed to set a course, eliminating seabed-destructive anchors and drastically decreasing the number of people involved with regatta management. Our buoys are fully electric and will run for an entire race day on a single charge. Charging can even be accomplished via solar. In bolstering race committees’ ability to run clean races, MarkSetBot makes no sacrifices on the quality of racing. 

 

As a complement to our robotic buoys, we’ve built an ecosystem of products that help race committees run better races. From wind instruments and horn systems to 360-degree cameras and boat trackers, we’ve integrated add-on products into our hardware and software that provide incredible data and exciting features for race committees and racers. We call this line of products RaceOS.  With our RaceOS integrations, we’re advancing towards total AI-enabled race automation. 



Our Business Model 


Today, we are designing, building and selling robotic buoys and other supporting technology, which assist sailboat race committees to conduct better races. We see this as revolutionizing the way races are managed around the globe.  As a result, we make money in several ways: 

 

Yacht clubs, sailing associations and federations acquire Bots through Purchase; Bot as a Service (BaaS), our leasing model for perpetual ownership with regular hardware updates; or Event Rental, our highest margin option. With Purchase or BaaS, there are additional revenue streams from extended warranties and recurring software support and maintenance. 


This business model allows us to generate revenue three times during a Bot's lifecycle: 

Cycle #1 - New Bots are sold outright or leased through BaaS 

Cycle #2 - Bots from Cycle #1 come back after BaaS or Purchase Trade Ins and are added into our Event Rental program 

Cycle #3 - Bots from Event Rental are refurbished and sold as Used 


Additionally, we sell component parts to distributors who build and sell MarkSetBots under license. We also sell add-on products within our RaceOS ecosystem. 

 

Looking forward, we plan to license our marine robotic technology, the ability to deploy, operate and monitor fleets of aquatic drones, for use cases outside of the sailing industry.

OUR TRACTION


We’re making a splash 



We’ve been making significant waves since we received our first patent in 2018. Since that time, we have filed two additional patents, recorded more than 8,360 days on the water and have been used by more than 140 clubs and organizations. MarkSetBot is used regularly at major international sailing championships, and our momentum within the highest professional sailing circuits is growing. We have partnerships in place with key industry leaders, plus an international dealer network, to spur adoption at all levels of the sport.  

 

We have continually generated much higher revenue numbers since inception. At the end of Q1 2021, sales had already exceeded 2020 numbers. And we haven’t stopped beating quarter over quarter performance since. In fact, MarkSetBot has already achieved 360% growth through Sept. 2021. Through economies of scale and improving distribution channels internationally, we expect our margins to grow by 10%.



These revenue numbers are indicative of the widespread recognition MarkSetBot is receiving from industry leaders like World Sailing and 11th Hour Racing (2020 Sustainability Award Finalist) and Sailors for the Sea (Recommended Best Practice). Moreover, we have established partnerships with major sailing technology suppliers. We have benefited from press mentions from standout sailing publications like Sailing World, Yachting World, Scuttlebutt Sailing News, Yachts & Yachting, Sail-World, Seahorse Magazine and more.  MarkSetBot is a partner of SailGP, a globally-televised, professional high-speed racing series, and we are currently developing a custom, super-sized buoy for the circuit. 

THE MARKET


We believe our tech transcends boat racing



The sailing industry has been our initial focus and there’s significant energy and opportunity for our product. But, our addressable market is much larger. Our core technology is the ability to deploy, operate, and monitor fleets of aquatic drones. We’ve refined our technology through the rigors of sailboat racing (our personal passion), and are ready to license to larger industries. 



Within the sailing industry, MarkSetBot leads the way in providing course- setting and race management solutions by bringing the power of technology and automation to race committees. Moreover, our team has vast on-the-water experience and our technology has shown to be more reliable than that of our few competitors. Because our product has been on the market the longest, we’re at a point where we are innovating beyond our initial product offering to create an ecosystem of complementary tools and products, something our competitors do not offer. MarkSetBot has close partnerships with major sailing suppliers and key industry leaders to help spur adoption at all levels of the sport.

WHY INVEST


We evolved the mark 


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We believe MarkSetBot is the more sustainable, more reliable, more cost efficient form of the mark that the sailing world needs. Our patented technology is proving to be a premier race management tool, and the immediate market success and partnerships we have established give legitimacy to our bold claim that we can be the new face of sailing marks. We have the tech, team, and partnerships to generate potentially huge returns as our company continues to scale. Join us in the adventure to change the future of race management and become part of our team today!


In the Press

World Sailing

World-first MarkSetBot, with sustainability at its heart, is revolutionizing the racecourse

Sailing World

The Automated Race Committee MarkSetBot’s new RaceOS system aims to simplify race management and allows for full racecourse automation.

Yachts & Yachting

Robotic racing marks can help clubs run regattas: Q&A with Kevin Morin of MarkSetBot

Scuttlebutt Sailing News

Robots to Invade Block Island Sound

Yachting World

Best Boating Products of 2021: The Hot List

Surfer Today

MarkSetBot: the fully automated regatta racing mark

Scuttlebutt Sailing News

Robotic Marks Provide Logistics Solution - 1st Article written - 2017

Sailing World

Premiere Sailing League Introduces Robotic Marks - 2nd article written - 2017

Sail-World

MarkSetBot collaborates with US Sailing to facilitate racing

Offering Summary


Company

:

Robobuoy Inc.

Corporate Address

:

2200 Hunt Street, Suite 203, Detroit, MI 48207

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$250.00











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

10,000

Maximum Number of Shares Offered

:

1,070,000

Price per Share

:

$1.00

Pre-Money Valuation

:

$10,000,000.00











Maximum number of shares offered subject to adjustment for bonus shares. See bonus info below.

Voting Rights of Securities Sold in this Offering

Each Investor shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Investor’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Investor, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Investor pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Investor is an individual, will survive the death, incompetency and disability of the Investor and, so long as the Investor is an entity, will survive the merger or reorganization of the Investor or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Investment Incentives**

Time-Based

Friends and Family - First 14 days

Receive 15% bonus shares 

Super Early Bird - Next 7 days

Receive 10% bonus shares

Early Bird Bonus - Next 3 days

Receive 5% bonus shares 

Amount Based

Tier 1 perk ($500+) 

Receive a set of four environmentally-friendly MarkSetBot reusable "solo" cups, plus stickers to deck out your car, laptop, etc. 

Tier 2 perk ($1,000+)

Receive branded stickers, plus, the founders of MarkSetBot will personally make a 5% matching donation to support the non-profit Sailors for the Sea*, a world-wide ocean conservation organization. In addition, receive an environmentally-friendly reusable, stainless steel water bottle, laser-etched with MarkSetBot and Sailors for the Sea logos.

Tier 3 perk ($5,000+)

Receive branded stickers, an insulated vest embroidered with a MarkSetBot Investor Circle logo, and Investors' Circle VIP access to our annual meeting, happy hours, and other social events hosted by MarkSetBot throughout the year.

Tier 4 perk ($10,000+)

Receive 5% bonus shares, branded stickers, an insulated vest embroidered with a MarkSetBot Investor Circle logo, a recycled sail cloth cooler bag with embroidered MarkSetBot logo, and Investors' Circle VIP access to our annual meeting, happy hours, and other social events hosted by MarkSetBot throughout the year.

Tier 5 perk ($25,000+)

Receive 8% bonus shares, branded stickers, an insulated vest embroidered with a MarkSetBot Investor Circle logo, a Super Yacht Experience - a ride on a TransPac 52 or Great Lakes 70 sailboat during a race (transportation and housing to be provided by investor), Investors' Circle VIP access to our annual meeting, happy hours, and other social events hosted by MarkSetBot throughout the year.

Tier 6 perk ($50,000+)

Receive 12% bonus shares, branded stickers, an insulated vest embroidered with a MarkSetBot Investor Circle logo, VIP boat and Adrenaline Lounge access at your choice of a SailGP racing event anywhere in the world (transportation and housing to be provided by investor), and Investors' Circle VIP access to our annual meeting, happy hours, and other social events hosted by MarkSetBot throughout the year.

* Sailors for the Sea, a 501(c)3 nonprofit organization, is the world’s only ocean conservation organization that engages, educates and activates the sailing and boating community toward restoring ocean health. MarkSetBot's founders have committed to a personal donation equivalent to 5% of the investment funds raised at this level. Maximum donation of $5,000 will be made at the conclusion of the fundraising.

** Perks will be delivered after the close of the offering. Bonus share perks do not stack. Investors only get the highest number of bonus shares for which they qualify, not a combination of time-based and amount-based.

The 10% StartEngine Owners' Bonus

MarkSetBot will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1 / share, you will receive 10 additional shares of Common Stock, meaning you'll own 110 shares for $100. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investor's eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Salary payments made to one’s self, a friend or relative.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$315,949.00 USD
$0.00 USD
Cash And Cash Equivalents
$95,558.00 USD
$0.00 USD
Accounts Receivable
$21,804.00 USD
$0.00 USD
Short Term Debt
$11,145.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$93,848.00 USD
$0.00 USD
Costs Of Goods Sold
$33,430.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$108,663.00 USD
$0.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

MarkSetBot hits another funding milestone!

9 days ago

MarkSetBot has hit another major funding milestone: $800,000! We’re getting closer to our Regulation CF fundraising goal of $1.07M and we appreciate your support. We’re working hard to continue our momentum as we approach the final month of our campaign.

We hope you’ll stay connected with MarkSetBot, and get to know us even more.  Follow us on Facebook and Instagram, and check out our latest video in our Chat-Bot series.  This time, our founder Kevin discusses his product development philosophy.




Notice of Funds Disbursement

about 1 month ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, MarkSetBot has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in MarkSetBot be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Happy holidays from MarkSetBot

about 1 month ago


We're so proud of the progress we've made this year and we look forward to what's next.  Thank you to all of our new investors for your support of MarkSetBot.  We’re glad to have you on board!  

We wish you and your families a joyful holiday season and a happy New Year!


Early Bird Bonus Shares and A Super-Sized Partnership with SailGP

about 1 month ago

Don’t miss out!  Our Early Bird bonus shares are ending soon. If you’ve considered investing, now is the time!


Major MarkSetBot partnership televised this week

MarkSetBot is proud to be a partner of SailGP, a globally-televised, professional racing series in high performance F50 foiling catamarans, where teams compete around the world in grand prix events – the Formula One of the water. This week, SailGP returns to the iconic Sydney Harbor and our MarkSetBot team is in Australia preparing for the event!

It’s amazing to see these boats fly on the water! The event is broadcasted globally, and you can find out how to watch live in your area here or catch the replay on YouTube.

About the Partnership

Since 2019, MarkSetBot robotic buoys have served as course marks for the SailGP Inspire program for local youth and as boundary markers. For many months, we’ve worked with SailGP on the next step—a plan to transition all F50 course marks to a special, custom designed robotic buoy, the MarkSetBot Grand Prix Bot. Read more about this super-sized MarkSetBot here.

And listen in as Kevin, our founder, talks all things Grand Prix Bot!



Notice of Funds Disbursement

about 1 month ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, MarkSetBot has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in MarkSetBot be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

MarkSetBot technology is patented

about 2 months ago

Welcome to all of our new MarkSetBot shareholders!
We’re excited to share that in just two weeks, we’ve raised more than $657,000 with 101 investors.  Thank you for your support and we're so glad to have you on the MSB team.


Innovation is at the core of MarkSetBot.
We’ve pioneered a new sailing race management market—from anchorless robotic marks to a full suite of race management technology. Our journey started back in 2014 with our robotic buoy prototype. After lots of testing and tweaking, we rolled out the first models to a beta test in 2017. Fast forward to 2021, MarkSetBot is trusted by sailing clubs and organizations worldwide.

Our technology is protected through multiple patents, all of which are held by the company. Back in 2018, we were awarded two patents for our autonomous mark. In 2020, we filed our latest PCT patent focused on our autonomous race management suite, RaceOS. Check out this video as Kevin walks through what “autonomous race management” means:


We're passionate about sailing, but our technology doesn't stop there.  We’re excited to continue to expand within the sailing community and primed to apply our patented tech – the ability to deploy, operate, and monitor fleets of aquatic drones – to other verticals.  Where do you think we should use the technology next?

MarkSetBot surpassed $330,000 in funding in less than a week!

about 2 months ago

Wow!  We’re off to a booming start on our equity crowdfunding round! 

Welcome to our new shareholders.  Thank you for your support, we’re glad to have you on board and we’re determined to keep the momentum going!

Make sure to click the “follow” button so you receive all of our updates.  If you have any questions about our campaign or our products, please don’t hesitate to contact us through our website or leave a comment here on our page.

Want to learn more about what makes MarkSetBot tick?  Check out this short video of our founder, Kevin, discussing what started him on the MarkSetBot journey.




Hello from the MarkSetBot team!

2 months ago

We’re excited to be live on Start Engine and we’re already off to a great start!  

Please note, we heard from several investors that they had trouble making transfers today.  StartEngine support has solved the problem.  If you tried to invest and had a transfer issue, give it another go!


Get to know us!
We are MarkSetBot, a robotics company that is positioned to disrupt the marine industry, starting with sailboat racing and poised to move into other aquatic use applications.

Our founders, Kevin Morin and Matthew Morin, are long-time business partners (and brothers) with a proven record of starting, growing and selling successful businesses. Kevin’s expertise is in designing and delivering technology-based solutions to complex problems.  Matt provides seasoned strategic direction and mentorship of our team.  Each member of our leadership team has more than 20 years of entrepreneurial experience, and we have structured all of our companies with the same proven methodology for running successful ventures.  Through this raise, we're hoping to scale our international manufacturing and distribution network, build our sales team, and get more Bots on the water.

We hope you’ll take some time to get to know us and then join our team of investors.  Stay tuned for more updates!  We look forward to engaging with you.

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