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MIITO is simply but intelligently designed to heat any liquid directly in a vessel while cutting down on excess water and energy usage.
MIITO is simply but intelligently designed to heat any liquid directly in a vessel while cutting down on excess water and energy usage.
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6,052 backers pledged €818,098 to help bring this project to life.

May update

Posted by MIITO (Creator)
69 likes

Development / Manufacturing

  • In our last update, we mentioned that we had started a development trial with a manufacturing partner in Shenzhen. This partner has years of experience with the manufacturing of induction cooktops, and has already worked with startups before. But most of all, they are very committed to MIITO's long term success.
  • They have started a development project for MIITO and Crystal is traveling to Shenzhen this week to assess their progress and continue building the relationship with them. We hope we will be giving you a deeper insight in the progress they are doing in the next update, after Crystal returned from Shenzhen.
  • In the last development update, we informed you, that, after a long search, we were in the final spurt of closing a development contract with two potential partners, one located in Germany and another one located in France. Both partners were specialized in the field of induction heating and seemed like very good candidates. However, a decision had to be made and we kicked off the collaboration with the German induction expert this week. They will work on MIITO's certification-requirements and the coil design, and eventually handover their results to our manufacturing partner in Shenzhen.
  • It is really important for us to integrate development and manufacturing from a very early point, to make sure that anything that is being developed will also be manufacturable.

Financing

  • In the last update, we mentioned that we had handed in a loan application in early April. The bank got back to us and we had a meeting to discuss our application with the reviewers last week.
  • We had a thoroughly prepared meeting with the application reviewers from the bank and were able to respond to all of their questions. The feedback we got was generally positive, with just a few modifications to our initial proposal.
  • Now the ball is back on the bank's side. We are waiting to hear back from them to be able to move forward on this project.

IF Design award

We just received a very honoring award: the IF design award. The IF design award is one of the world's most prestigious design competitions and recognized as a proof of design excellence around the world. In the case of MIITO- the award is given to celebrate the concept of the product and its visual aesthetics. Receiving this award is a dream-come-true for us as designers and we are happy to be able to share this celebration of MIITO's design with you, MIITO's backers.

 

Summery greetings from Berlin,

Your friends at MIITO

Elisabeth, Nayna Halai, and 67 more people like this update.

Comments

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    1. Missing avatar

      Eric Limegrover on

      I'll believe it when I see it this decade.

    2. Missing avatar

      ThJe on

      @Yuriy Sure you are right, if it comes to production. But there has been no production so far. The money, as it is said, is spend until now for development. So what you mean hasn't even begun. Sure I understand that more things to produce means more money you need, but we aren't at that stage yet.

    3. MIITO Creator on

      Thanks Leo for your comment! Nice to see that multiple backers have gone through the manufacturing process themselves and are willing to share their experiences and support us with their knowledge! Thank you for being here :)

    4. Missing avatar

      Yuriy on

      @ThJe keep in mind that it's not free money. They got more money because more people expect a product now. With "over 5 times the money" comes over 5 times the amount of products to be created and delivered.

    5. Missing avatar

      ThJe on

      I am wondering about one thing. You asked in your campain for 150.000 €. You got way more than that. Now you are saying that "Naturally if our development extends a year longer- there are more expenses than expected and we will need more money to run the company."
      So my question is: Didn't you plan anything realistically? Getting 800000 €+ is so much money and you are looking for a not so distant point in the future, where that money, remember over 5 times the money you had planned to need, will be gone?
      What would have happened, if you only got the 150k you asked for? That money would never have been enough. Seems like kind of blueeyed business planning to me.

    6. Leo Lam, PhD on

      Good job, Team Miito. Glad to see the positive progress and the humble way you conveyed it.

      For those who have issues with "China", don't let that be a distraction. Personally, I have developed hardware products for at least four companies through manufacturing partners in China, all of them successfully. Unless the Miito team does not have proper guidance on navigating overseas manufacturing, they will be ok.

      Remember, your iPhone is made in China. So is your Macbook, Mac Pro, Macbook Pro etc. Almost all of the fancy electronics are made in China. Fitbit (I have even worked with their partner), Jawbone etc.

      As for Peter Neville-Hadley's comment about "relationship", it's the same everywhere. There is always a relationship, anywhere. There would always be a contract, in case the relationship turns sour. I have yet to have a relationship turned sour from partners in China, and our companies were all based here in the US. Funny enough, notice how many business litigation happen in the US? That's how many "relationships" turned sour. The number is dramatically higher than anywhere else in the world. Let that sink in for a second.

      To be clear, despite my last name, I am not from China and have no special affinity to it. I am British and live in the US; I have only done business successfully with many countries over the years, China being one of them.

      Miito Team, you are welcome to reach out to me if you need any 3rd party advice. Happy to help.

    7. Missing avatar

      Debra Hooper on

      I am afraid I totally agree with Peter Neville Hadley. I would like a full refund. I am not impressed with you turning to China and I believe you will be "ripped off". I'd like a full refund please.

    8. MIITO Creator on

      Dear backers, thank you for engaging with us and truly caring for MIITO to be a good product not only for your homes but also for the environment. We understand your concerns and will do our best to not let you down by making sure MIITO will be a premium quality product manufactured under good conditions even if its done in China.

      Concerning the bank loan- as we mentioned before, we are currently not in money troubles but we wanted to communicate that we look in the future and try to see what other obstacles could prevent us to deliver MIITO to you and already now are doing everything to prevent it. BUT that is concerning the future. Naturally if our development extends a year longer- there are more expenses than expected and we will need more money to run the company. We were just being transparent and openly communicating what MIITO is busy with. @Bert- with the “ball on their side” we mean that we are now in a process of the bank reviewing our details so we just have to wait until we can give a further update.

      @Yuriy The official ceremony of awards will be only on June 17th (thats probably when they will give a proper press release) but we were given the permission to inform our supporters already now :)

    9. Peter Neville-Hadley on

      > continue building the relationship with them

      This is China. There is no relationship. There is only the contract, the degree to which the terms of the contract may be enforced, the cost of that enforcement, and money.

      There's no long-term view, no friendship, no valued customer special arrangements. There's only what profit can be made both under the terms of the agreement and in breach of it where being in breach is more profitable that not being in breach.

      Don't understand this? Then might as well just open your wallet and say, "Help yourself!"

      I wish this project well (I donated funds, after all). But I've now abandoned any hope of actually seeing a completed product.

    10. Jonny
      Superbacker
      on

      Please offer more clarity around the bank debt finance and whether this is make or break for the project (as opposed to offering R&D finance for the organisation).

    11. Missing avatar

      Yuriy on

      Where can we read more about the IF award that MIITO got? I looked at their site and could not find this information. To be fair their site isn't well designed when it comes to searching for winners...Do you have a link to a winners page or a press release?

    12. blueumbrella
      Superbacker
      on

      Thank you for the update. I am glad to hear of your progress, and I am now more hopeful. I understand this is going to be a long process, but still wonder about your manufacturing choice. Many congratulations on your reward, which is much deserved.

    13. Missing avatar

      Jin Di on

      Thanks for all the updates. I appreciate all the challenges you are facing in getting this product out so well done for keeping at it. As they say in Mandarin: Jia you! Jia you!

    14. B.
      Superbacker
      on

      Did not quite understand what you meant by "Now the ball is back on the bank's side. We are waiting to hear back from them to be able to move forward on this project"...
      When you say "this project", are you talking about the MIITO project? Meaning that if you do not get this loan, the project will stop? Thanks in advance for your precise answers to my questions. This comment will be also posted in the main comments section.

    15. Jorge Machado on

      Hi, I'm a Backer of your product. Do you guys have an idea wenn are you sending this stuff out ?

    16. Missing avatar

      John Kevin Artley on

      Ok so you have won an award and had a great time traveling around..timescales please ..it's all looking like great fun