World Breakthrough for WIN Company Elephant in a Box

We are pleased to inform you that the Elephant in a Box has successfully passed over 300 IKEA tests and met all requirements. Today, their innovative HoSTTech material and technology is incorporated into IKEA's new Bursyred Puff Bed. The first trial order has already been placed and the product will be in IKEA stores in Italy by September 2024.

This is another successful breakthrough for a WIN portfolio company (see previous success stories of other WIN companies).

The business of “The Elephant” consists of the sale of patent rights (registered in the US and the world) for the use of their new materials and technologies, and in some cases the production and supply of the materials themselves in the fields of the furniture industry and construction. 

WIN invested through SAFE with very good conditions the amount of USD 200,000 almost a year and a half ago, after the company was selected among the finalists of the Davos Grand Finals of the Founders Games in January 2023. Then the recommendation of investors who rated the company as part of the jury, was to stop direct sales to end users and focus on sales to the largest corporations in the furniture industry of patent rights and HoSTTech - the technology for the new material that the company develops and patents. “The collapse” listen to us and do it! 

The past year and a half has not been easy for Elephant in a Box. It was filled with a lot of work, tests with IKEA, meetings with various suppliers of the furniture giant from all over the world. But they proved their vitality so that today we all celebrate together the first order and payment from IKEA of the completely new type of material and furniture that will appear on the market: extremely comfortable, strong and much lighter than analogues. Thanks to Elephant in a Box's new material, the IKEA bed will have up to 70% lower transport and storage costs.

This could start a revolution in the furniture industry and our portfolio company can be at the heart of this change with their patent for a material that is made from recycled paper and is 100% eco-friendly and safe for people and nature and much more - resistant and stronger than traditional furniture materials. 

According to the announcement to investors from Elephant in a Box, after hundreds of tests this year and a half, the IKEA team is confident that their first joint product, the Bursyred Puff Bed, and the next ones planned will be successful and will lead to strong repeat and growing business. For this purpose, IKEA appointed a special designer to develop products based on the technology of Elephant in a Box - HoSTTech.

WIN congratulates the Elephant in a Box team for their sustainability  and success, and today we celebrate the well-deserved step towards potential worldwide success. 

The total market volume of the furniture industry in the world is estimated at over $500-$600 billion. The most important trends in it, according to experts, are: consumer preferences for (1) ecological and sustainable furniture, (2) smart furniture with integrated technologies and (3) furniture that can be customized according to specific needs. These three trends accurately describe the specificity of Elephant in a Box's new material and HoSTTech technology, and we at WIN expect to see the results soon. 

IKEA is a very good start and a significant first global customer.

The elephant will be a “Focus Company” on August 15 at 16:00 as part of the upcoming virtual meeting with Investor of the Month August in the person of one of the most successful Bulgarian entrepreneurs and investors - Mr. Ivo Evgeniev. 

More information and registration at: https://webit.network/en/meetings.php

The first 50 registrants will receive direct, personal access to the zoom room with the Investor of the Month and his host Dr. Plamen Rusev. The rest will be able to watch the event in real time online. 

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