About

Digital Bites creates a B2B platform that allows the developers of physical products to test their concepts on their target audience before having to build them. This is possible with the use of our Virtual Reality based consumer experiments that can test, capture, and analyze the conscious and unconscious behavior of a product’s real target audience in a fast and accurate way. Consumer insights experts, marketing departments or NPD teams can validate new product concepts easily and rapidly, measure the attraction of designs or predict the performance of their potential product against its competition, before having to build any physical prototype in the lab!

Solution & Product

We design a platform in which any physical product, building facility or experience can be tested or validated for different aspects (e.g., attraction, usability, feedback etc.) very easily. The major competitive advantage over our competition is that product and consumer experiments conducted with our platform require no trade-offs; they are fast to conduct, extremely accurate in their results and require less resources to design and execute. Our first go-to market is the food industry, for two reasons. Primarily, because our team has deep domain expertise in food product management. But also new product launches in the food industry have an 80-90% failure ratio. This happens because the research tools and methodologies methodologies available for researchers to test and validate new product concepts are slow to execute, provide inaccurate information, or little to no consumer context. With our technology, the time from idea to market can be minimized by 80% of the current food industry standard, while the insights generated are more accurate and richer in context. On top of that, product developers have faster access to better data without having to develop their products in the lab and de-risk their new product launches by implementing better consumer feedback.

Innovation & Scalability

We are among the first movers in providing a fast and all one way to conduct VR behavioral / neuromarketing research and we have significant advantages compared to companies such as Eyesee, Eyesquare, Unravel Research, Tastewise, Spoonshot, Foodpairing, Gastrograph or Turing AI. The major competitive advantage over our competition is that product and consumer experiments conducted with our platform require no trade-offs; they are fast to conduct, extremely accurate in their results and require less resources to design and execute. This is achieved by: 1) Enabling the testing of product prototypes that have not yet been developed physically 2) Gathering more data from a 90% smaller than normal consumer sample, and using AI models to create “virtual consumers” 3) Having a controlled “closed-system” experiment in which zero-party data are collected extremely accurately Use this link to read more: https://medium.com/@sofianostheodoros/why-the-future-of-consumer-research-goes-through-your-stomachs-af71594c3324 At scale, designing an experiment, delivering it to the research participants that already own a VR headset, and analyzing the results, could be all done within minutes or hours, providing a fast research option of unprecedented speed and high data quality.

Traction & achievements

During the last 6 months, we have built dozens of versions of our VR consumer experiments, and we have tested them with more than 250 end users. We started with the first prototype in February 2023, and many iterations and user tests later we finalized our MVP mid April 2023. Late April and early May 2023 we run an unpaid pilot study, together with two companies to validate that our MVP works and to measure the cost, time and stakeholder management sides of B2B enterprise software. We successfully finished the pilot mid May 2023 and sent the pilot results to the stakeholders, that used our data to make a crucial business decision - to change their product packaging according to our technology insights. After implementing one crucial new feature by the end of May 2023, we have launched commercially as of June 2023. We are already in advanced talks with large multinationals about integrating our technology and research methodologies in their consumer studies and R&D departments and we are working on 3 distinct commercial deals in parallel.

Team & Why Us

Our founding team combines very unique and diverse backgrounds. Thodoris has previous experience with startups, is a food scientist with rich domain expertise in consumer insights, product management and product development in food and in general. Michael is a wizard with anything related to numbers and analyzing quantitative data, while he also has previous experience of applying ML and AI models for industrial purposes in food. Loukas combines his VR development expertise with his knowledge with his general programming skills to scrape the right type of data out of the VR experiments he develops. The best part about this team, is that we all met in the Greek army (a highly unlikely place to find co-founders!!), first became friends and then collaborators in Digital Bites, united for our passion for better research and products.

Funding Needs

Based on our projections and charging rate per project, we can be profitable in 3-6 months without funding. Nevertheless, we want world domination - to grow faster and make our product expand globally and to be used in multiple industries. This means that we want to raise a seed round within the next 3 months, to be used primarily for the salaries of the first few hires and for marketing and customer acquisition. If you happen to read this and you are an investor (angel or VC) that can believes in our vision - Digital Bites VR experiments are the new consumer research norm instead of boring surveys - and you can offer smart money (money + expertise or network) we would love to have a chat with you!