BOULDER, Colo. – A tech startup founded by two CU Boulder students is looking to crowdfunding as it works on the latest version of its personal tracking device.
Informu raised about $100,000 on Kickstarter and now they’re back at it – this time on Indiegogo, hoping to raise $25,000.
The company is working on a device called the Mu tag, a small, wireless tracker that you can affix to personal items like a phone, keys or luggage. It then pairs with a smartphone or a wearable device like an Apple Watch. The goal of the device is to prevent someone from losing their belongings or leaving something behind when they leave the house.
For example, if you have a Mu tag on your luggage and leave the house to go to the airport, your phone or watch will immediately send you a notification.
Co-founder and CEO Lang Mei said he came up with the idea on a trip to Paris.
"One day, I went to a Starbucks to charge my phone," Mei recounted. "I put my bag down at my leg, and then later, someone asked, 'Where’s my bag?' and suddenly I realized I can’t find my bag."
There are other products that offer similar features as the Mu tag, but Mei said one of the biggest things that sets his product apart is its size.
“We are way smaller than any product,” he said.
The device is smaller than a human thumb, making it possible to attach it to a wide range of objects. Unlike other products, Mu also offers a removable and rechargeable battery, easy pairing and a companion app that doesn’t have to be open to work.
Mu can also integrate with email and other service so it knows where you are and what’s going on in your life and can provide contextual alerts.
Informu hopes to ship its first round of Mu tags to its backers in December, with retail sales happening sometime after that.
As of Thursday afternoon, Informu had nearly reached its fundraising goal on Indiegogo with 22 days left.