Data room › Section 2 of 8

Where we are

From an MBA thesis to a certified, patented, shipping product in under three years, on roughly £450,000 of capital. The product is CE and UKCA marked, the UK patent is granted, the factory is ours, and the first fifty users have shaped the design.

25Units sold since the first commercial sale on 29 May 2026, deliberately limited to the £495 Pathfinder cohort

~50Users tested across four device generations; 15 units with organisations for extended evaluation

GrantedUK patent granted 24 June 2026; PCT published with rights preserved in the US, EU and China; six registered designs, four trade marks

~£166kNon-dilutive support: £121,583 in grants secured plus ~£44,500 of Azure and AWS credits, and £17,572 of R&D tax credits received

Funded routes to market

Three channels where the state, not the user, pays

The customer’s biggest objection is price. These routes remove it.

Disabled Students’ Allowance — live

The Itero Study Edition is the sole wearable AI product on the Student Loans Company catalogue, so every needs assessor in the country can recommend it, funded at £1,590–£2,670 per student with nothing paid out of pocket. Microlink runs outreach to around 4,000 students, and roughly 1,250 blind and partially sighted students are funded today with about 400 new awards a year.

Access to Work — live

Supply agreement signed with Microlink PC, an established DWP Access to Work and DSA supplier, opening funded access for every disabled employee in the UK. Grants run up to £69,260 a year and renew every three years; Microlink handles outreach, training and first-line support.

Charities, distributors and the NHS

Direct relationship with Visionary (110+ local sight-loss charities, 28 national partners) plus RNIB, Seescape and Thomas Pocklington Trust, with a 20%-commission Ambassador programme for referrals. Distribution talks with VisionAid (contract pending), Sight and Sound Technology and Optelec, who approached us unprompted. Member of NHS Innovation, working towards a low-vision pilot under the NHS 10-year plan.

What users say

Pathfinders pre-tested the product so we would hit the mark

Fifty places at £495, a 69% discount, in exchange for real-world evidence that feeds the DSA, Access to Work and Ambassador conversations.

“My life is so much better because of these glasses.”

Jack Robison, Pathfinder user

“My guide dog can’t communicate why he has stopped, but the glasses can.”

Stuart Beveridge, Head of Accessible Technology, Seescape

“Consumer smart glasses help you stream video. Mavis helps you cross the road and read text.”

Carl Peach, Pathfinder assessor

Press: Associated Press coverage in April 2026 reached roughly 250 million people across 21 outlets; the UK Intellectual Property Office published Mavis as a case study in June 2026. Inbound interest has arrived unprompted from as far as Saudi Arabia and Australia.

Milestones

From thesis to certified product in two years

Every milestone below has a document behind it: IP filings, certification reports, grant letters and R&D accounts are in the data room.

Aug 2023Company foundedMavis Technologies Ltd incorporated in Northampton with a working prototype — 58 g heavier and noticeably wider than today’s frames. The name comes from “magic” and “vision”.

2024–25£242,068 invested in R&D, £121,583 of grants secured, UK patent filedFour hardware products across five board revisions. R&D intensity of 61% qualifies Mavis as an R&D-intensive SME; two HMRC R&D claims examined and paid, a third in preparation.

Autumn 2025Pre-Seed round closedSEIS round at £1.65M pre-money; HMRC SEIS compliance statement approved.

Jan 2026Focus groups completedUsability trials including elderly and low-mobility users, across urban and rural navigation.

Apr 2026Associated Press coverageSyndicated to 21 outlets, reaching around 250 million people.

May 2026CE and UKCA certification achieved, first time180 components; five UKAS-accredited TÜV SÜD reports covering radio, EMC, EN 18031 cyber-security and UK PSTI; signed UK and EU declarations across four SKUs; EU Authorised Representative appointed in Vienna. The exact reason we could not sell before then.

29 May 2026First commercial sale and Pathfinder programme launchedProduction released; the first unit sold and settled. Fifty Pathfinder places at £495 to gather real-world evidence.

24 Jun 2026UK patent GB2640340 B grantedCovering the obstacle-detection system. PCT application published, with rights preserved in the US, EU and China to January 2027; six registered designs and four trade marks alongside. The UK IPO featured Mavis as a case study the same month.

Aug–Sep 2026DSA approved, Microlink agreement signed, SLC catalogue listingItero Study Edition becomes the sole wearable AI product on the Student Loans Company catalogue; Access to Work supply agreement signed with Microlink PC.

Sep 2026Team growsTwo graduate engineers who themselves have sight loss join the Northampton team.

Autumn 2026Seed 2026 round opened£500,000 at £2M pre-money, EIS advance assurance in place.

Nov 2026Full product launch — Viaro and IteroGeneral availability beyond the Pathfinder cohort, through DSA, Access to Work, charities, distributors and direct.

2028European sales beginGermany, France, the Netherlands, Sweden, Denmark and Finland first; the CE mark already covers entry, so no new certification is needed.

Manufacturing

All eight production stages in-house at Vulcan Works, Northampton

No other UK company in this category does all of it in one place.

£101,968Total manufacturing investment — already bought and paid for

8 of 8Production stages in-house: automatic SMT line, BGA rework, automated optical inspection, injection moulding, 3D printing

14 daysOrder to delivery, with repairs and upgrades done in the same building