Lockitron Hits the Funding Jackpot

Following in the footsteps of—yet sidestepping—Kickstarter’s online route for soliciting investment funding, the Lockitron is cashing in big. With 23 days of backing remaining, the project has already come close to hitting the $2 million mark. However, the truly ingenious qualities behind this winning ticket indicate that its creators are not playing a game of mere chance.

First of all, by launching a website modeled after a typical Kickstarter page, they took advantage of the successful Kickstarter format, while bypassing its controls and its rule that bans product renderings. By accepting online pre-orders and offering a guaranteed shipping date, the Lockitron was nearly 700 per cent funded as soon as it hit the press. A professional promotional video that has appeared on numerous popular science and technology publication websites also shares responsibility for Lockitron’s successful funding campaign.

Clever media tactics are not the only driving force. An excellent invention idea provides the initial push; and the Lockitron is an excellent invention. It is a simple keyless entry system that is controlled by your phone. It installs on the inside of your door and allows you to lock or unlock it from anywhere in the world, using your cell phone. It also notifies you when someone unlocks your door and when someone is knocking on it. It can even detect your Bluetooth and will unlock your door as you approach it. The Lockitron is keyless entry to the max.

The only foreseeable threats to the success of this product are cell phone hackers and new, non-compatible cell phone technologies. Of course, the company addresses the security issue on its website, explaining that it relies on the same encryption technology used in banking—the pillar of safeguarding valuables. With regards to technology, judging by the widespread success of Smartphones, the chances that the entire cell phone market will undergo a drastic change in the next little while seems slim. Plus, the keyless locking system can be controlled via text messaging, a feature that is difficult to imagine disappearing. Basically, Lockitron has all of its bases covered, which leaves little left to gamble on.

The team behind this promising startup is playing with creative minds, innovative media techniques, a great product and a lot of money; and, it’s a game of strategy.

About: MAKO Design + Invent is the original firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors. Simply put, we are the leading one-stop-shop for developing your physical product from idea to store shelves, all in a high-quality, cost-effective, and timely manner. We operate as one powerhouse 30-person product design team spread across 4 offices to serve you (Austin, Miami, San Francisco, & Toronto). We have full-stack in-house industrial design, mechanical engineering, electrical engineering, patent referral, prototyping, and manufacturing services. To assist our startup and inventor clients, in addition to above, we help with business strategy, product strategy, marketing, and sales/distribution for all consumer product categories. Also, our founder Kevin Mako hosts The Product Startup Podcast, the industry's leading hardware podcast. Check it out for tips, interviews, and best practices for hardware startups, inventors, and product developers. Click HERE to learn more about MAKO Design + Invent!