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Mitte isn't accepting new investments

Mitte’s deadline was March 8, 2019

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Logo of Mitte

Mitte

Create your own mineralized water, just like nature
B2C Household Goods Subscription Hardware Reduce, Reuse, Recycle
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Featured image of Mitte
$30,000
Successfully raised from 53 investors on March 8, 2019
Exit Investors got paid
$45,000
53 investors earned a return on their investment on August 16, 2019

50% ROI in about 5 months
120% if calculated on a yearly basis
Invest in Mitte
Pitch Updates 1 Reviews 42
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Closed on March 8, 2019. Information may not be up-to-date. Campaign closed on March 8, 2019. Information displayed may not be up-to-date.

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Mitte Corp.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Mitte Security
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Hear from some of the 53 investors in Mitte


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Deal highlights

  • Smart water system that turns tap water into purified and personalized mineralized water, right in your home
  • Proprietary system of distillation-based purification technology and mineral cartridges
  • Recently closed $10.6M seed round lead by Danone Manifesto Ventures, VisVires New Protein Capital, and Kärcher New Venture
  • Seasoned repeat founders and team members specializing in engineering, water science, and business
  • Targeting $200+ billion bottled water market
  • Strong early market validation with successful crowdfunding campaign overfunded by 360%
  • In production with the official launch in Q3 2019

Mitte is the first-of-its-kind smart home water system that purifies and enhances water through a process inspired by the natural water cycle. 

In 2015, our Co-Founder and CTO Faebian Bastiman explored methods of water purification and mineralization as a side project to his university career. Inspired by the natural water cycle, he replicated the process in a machine. Two years later, that idea became the beautiful Mitte you see today.

The insatiable demand for bottled water is a huge problem. The world spends over $200B on bottled water every year. These figures are ever-growing.

A million plastic bottles are bought every minute, and that number will jump another 20% by 2021.

The consequence of plastic pollution ultimately finds its way back to us through our food chain.

More than

of these bottles end up in our natural system, contributing to an environmental crisis that will soon be as serious as climate change.

The Guardian recently published an article on the widespread contamination of microplastics in our tap water. These microplastics remain in the body for years with unknown consequences.

Mitte replaces bottled water and reduces plastic waste, water waste, and carbon dioxide emissions. Users can create mineralized water, pure and enhanced with essential minerals at home.

Water can be an essential source of minerals for the human body, and many minerals have higher bioavailability in water than in food, such as calcium and magnesium. However, other water purification systems remove important minerals in water along with the contaminants, creating water that’s only pure, but not mineralized.

Mitte solves this problem by using mineral cartridges to replicate the process that occurs in nature when water flows through rocks, picking up minerals along the way. This unique process adds back all the minerals and trace elements that other water purifiers remove, giving you water that’s not just clean, but also full of essential nutrients.

Our replaceable patent-pending mineral cartridges come in three varieties, creating waters with different mineral properties. Users can personalize their water to suit their lifestyle and taste. Whether they prefer a clean balanced everyday water, a sophisticated high mineral hit, or an alkaline water for detox and fitness, there’s a Mitte to suit every need.

The Mitte machine syncs up with the mobile app to further personalize the experience, giving users additional control and insights. It also allows users to monitor cartridge usage and set up (optional) demand-driven automatic ordering of new mineral cartridges. We only send them a new cartridge when their current one is running low.

Our patent-pending (EU patent n° EP17154125) distillation chamber, termed the Peltier-driven-Distillation (PDD), purifies tap water. The PDD is based on the principle of a thermoelectric heat pump, driven by two Peltier elements.

Compared to other filtration-only systems such as pitcher filters, Mitte purifies water of all contaminants, such as harmful hormones, nitrates, fluorides, and microplastics. The result is perfect, pure water as the basis for remineralization.

The mineral cartridges then add back the essential minerals and trace elements that are good for your body, giving you water that's not just clean, but also enhanced with minerals.

With Mitte in their kitchens, our users have their own bottling facility for mineralized water at the push of a button.  

Each cartridge produces 250 liters of water. Our goal is to bring Mitte water to market between the price range of $0.10 to $0.20 per liter. We aim to offer a premium and sustainable product at a highly competitive price.

Our business model is “Nespresso for water.” We sell the machine with a nominal margin and earn recurring revenues from the sales of the mineral cartridges, which have a higher margin.

For the machine, our plan is to build a direct-to-consumer distribution model via e-commerce. This model will allow us to (a) keep our distribution costs low, (b) optimize our supply chain, and (c) build a strong brand relationship with customers.

Since the cartridges will be our main source of revenue, we want to keep control of their sales and only commercialize via our website and app. Many businesses have succeeded following this model, such as Xiaomi, OnePlus, and Nespresso.

We are creating a new product category that is at an intersection of the bottled water market and home purification devices, which is a massive business opportunity. 

This proves the need for a solution like Mitte to cater to this overlapping segment.

We are supported by the European Regional Development Fund to develop a smart solution to purify and mineralize water.

In late 2017, we launched our presales crowdfunding campaign on Kickstarter and followed up with a pre-order campaign on Indiegogo InDemand. The former was overfunded by 360%, with backers pledging a total of €270,000 to our project.

We have 1,000 Kickstarter and Indiegogo backers, with 35% of them from the US and Canada, 60% from Europe with a strong German presence, and 5% from Australia and Hong Kong.

Our crowdfunding backer community is upbeat and extremely supportive of our project. We have managed to gather some of our backers together and compiled the following testimonials.

Our management trio is complemented by an experienced team with a diverse skill set that includes: mechanical and electrical engineering, software development, water science, business development, product development, user experience, marketing, and e-commerce. Please note, only Moritz Waldstein is an officer of Mitte Corp., all other officers are officers of our Parent Company, MitteMitte GmbH.


Nothing is more fundamental to life than water itself. Access to safe drinking water is one of the highest development priorities of countries worldwide. At the same time, the pressure to find sustainable solutions is building. There is no more crucial time for action than now.

Our long-term vision is to create a Mitte ecosystem that replaces bottled water. We’re starting by transforming the way we drink water at home. Our B2C offering with mineral cartridges goes towards brand building and proving sales traction, while our next steps to build solutions for on-the-go and B2B use cases will reach even more markets and consumers.

*Water contributes to the maintenance of normal regulation of the body’s temperature when consumed at least 2.0 L per day.

Deal terms


Minimum investment

$100

The smallest investment amount that Mitte is accepting.
Learn more

Maximum investment

$100,000

The largest investment amount that Mitte is accepting.
Learn more

Funding goal

$100K

Mitte must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $100K.
Learn more

Deadline
Mitte needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SDA

A Crowd SDA is a debt agreement which promises fixed interest payments and a minimum cash return.
Learn more

Maturity

5 years

Period after which the company must repay all outstanding interest and principal due under the Crowd SDA.
Learn more

Interest Rate

10%

Simple interest, paid annually, calculated based on the amount of your investment in the company.
Learn more

Minimum Return Multiple

1.5x

The minimum total return which the investor is entitled to have received by the maturity date, expressed as a multiple of the principal amount.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Mitte Corp.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Mitte Security

Bonus perks

In addition to your Crowd SDA, you'll receive perks for investing in Mitte.
Invest
$100
Receive
  • In addition to a repayment and return on your investment, you will receive a thank you letter from our Co-Founders.
Invest
$500
Receive
  • In addition to a repayment and return on your investment, you will receive a thank you letter from our Co-Founders and a special mention as a investor on our website.

About Mitte

Legal Name
Mitte Corp.
Founded
Sep 2018
Form
Delaware Corporation
Employees
0
Website
mitte.co
Social Media
Headquarters
Google Map location of of Mitte
100 Wall Street , New York, NY
Headquarters
100 Wall Street, New York, NY, United States 10005

Mitte Team
Everyone helping build Mitte, not limited to employees

Profile picture of Paula Montaldi
Paula Montaldi
Business Development
Profile picture of Fernando Fernandes
Fernando Fernandes
Quality Management Engineer
Profile picture of Clara Lu
Clara Lu
Marketing Manager
Profile picture of James Tattersall
James Tattersall
Head of User Experience & Design
Profile picture of Dr. Wiebe Wagemans
Dr. Wiebe Wagemans
Head of Innovation
Profile picture of Marissa Mocenigo
Marissa Mocenigo
Head of Digital
Profile picture of Timothy Starbuck
Timothy Starbuck
Senior Electrical Engineer
Profile picture of Stefanie Sand
Stefanie Sand
Water Scientist
Profile picture of Sandy Ragaie
Sandy Ragaie
Android Developer
Profile picture of Maya Mardini
Maya Mardini
Mechanical Engineer
Profile picture of Christoph Gerneth
Christoph Gerneth
Cloud Developer
Profile picture of Thomas Arscott
Thomas Arscott
Electronics and Electrical Engineering
Profile picture of Amira El Mazny
Amira El Mazny
Marketing Associate
Profile picture of Benedikt Scholz
Benedikt Scholz
Business Development
Profile picture of Sana Al-Badri
Sana Al-Badri
New Product Development Analyst
Profile picture of Sinda Soussia
Sinda Soussia
Embedded Engineer
Profile picture of Spencer Kohan
Spencer Kohan
iOS Developer
Profile picture of Vitória Schuckar
Vitória Schuckar
Water Scientist
Profile picture of Amr El-Far
Amr El-Far
Mechatronics Engineer
Profile picture of Jeffrey Hartinger
Jeffrey Hartinger
Marketing Associate
Profile picture of Benjamin Beck
Benjamin Beck
Product Designer
21 more team members
Paula Montaldi
Business Development
Fernando Fernandes
Quality Management Engineer
Clara Lu
Marketing Manager
James Tattersall
Head of User Experience & Design
Dr. Wiebe Wagemans
Head of Innovation
Marissa Mocenigo
Head of Digital
Timothy Starbuck
Senior Electrical Engineer
Stefanie Sand
Water Scientist
Sandy Ragaie
Android Developer
Maya Mardini
Mechanical Engineer
Christoph Gerneth
Cloud Developer
Thomas Arscott
Electronics and Electrical Engineering
Amira El Mazny
Marketing Associate
Benedikt Scholz
Business Development
Sana Al-Badri
New Product Development Analyst
Sinda Soussia
Embedded Engineer
Spencer Kohan
iOS Developer
Vitória Schuckar
Water Scientist
Amr El-Far
Mechatronics Engineer
Jeffrey Hartinger
Marketing Associate
Benjamin Beck
Product Designer

Press

Investing in the Elixir of Life
Times of India Blog Times of India Blog
·
Dec 12, 2018

If you enjoy (good) movies, have you seen ? It's a 2015 biographical comedy-drama about the financial crisis of 2007-2009...

Diese einfache Präsentation brachte Berliner Gründern 2,3...
Business Insider Deutschland Business Insider Deutschland
·
Sep 24, 2018

Es gibt Ideen, die von Anfang an zünden. Die Gründer des Startups mitte hatten einen solchen Einfall und sammelten in ein...

Mitte wants to sell you your own bottled water operation
CNET CNET
·
Aug 30, 2018

Most of us have used a pitcher or a faucet attachment to purify our water -- but a Berlin-based startup called Mitte says...

Mitte receives $10.6m in a seed funding round led by Dano...
FoodBev Media FoodBev Media
·
Aug 29, 2018

Germany-based start-up Mitte has received $10.6 million in a seed funding round led by Danone Manifesto Ventures, VisVire...

Danone fund invests in German home mineral water machine
U.K. U.K.
·
Aug 29, 2018

the maker of Evian and Volvic, is investing in a German company developing a purifier that will enable households to turn...

Turn your yucky tap water into delicious mineral water
Mashable Mashable
·
Nov 14, 2017

If you're one of those people that insists water has a taste and are picky about it, Mitte might be the solution to your ...

Ein Berliner Startup macht dreckiges Leitungswasser sauber
WIRED WIRED
·
Oct 30, 2017

Mineralwasser in Flaschen belastet die Umwelt und kostet viel Geld. Ein Berliner Startup hat eine neue Art von Wasseraufb...

The Mitte water system doesn't just purify - it adds mine...
Digital Trends Digital Trends
·
Oct 24, 2017

Who says all water is created equal? Certainly not the team at Mitte, the Berlin-based company seeking to improve lives w...

Mitte purifies and re-mineralizes water
TechCrunch TechCrunch

The world's first smart water system that unites water purification with enhancement. on the TechCrunch Disrupthow

Show all
Logo of Mitte

Mitte

Mitte successfully raised $30,000 from 53 investors on March 8, 2019
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Profile picture of Elizabeth Galbut
Jonas, Chris, Andrei, Frederick, Elizabeth, and 48 others invested. 42 Reviews
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