The money from this fundraising will first be used for research and development (R&D). The main goal is to finalise an initial version of our technology and use it to create a "minimum viable" product/application (MVP) for macro-meeting organization, with the purpose of better managing meetings on a global scale, including helping people avoid attending meetings they could / should avoid and reducing the duration of meetings; and increasing their efficiency.
As soon as we have a functional product (or even a little before), we will begin to leverage our network of contacts to recruit the first commercial partners who will promote this application, as well as SymPlace's capabilities, to their customers. We will initially target the mid-size business market and semi-government organizations. Developing these types of partnerships is what some of our founders have done several times over their long and illustrious career.
Once we have achieved the first recurring revenues, we will raise more and more money (in total several hundreds of millions of euros) to grow SymPlace in many areas of application and conquer the global market. At first, we will be very opportunistic in seeking high-leverage, high-profit B2B (business-to-business) opportunities. And as our user base grows, we will offer more and more B2C (business-to-consumer) opportunities on the market.