Kabis aims to expand in the US by the end of 2017 and produce nearly 1,800 smart plugs early next year. The price of the plug will be estimated at $30.
Mohamed Reyad, the CEO of the company specialised in turning regular appliances into smart appliances, said that the company offers smart plugs installed on the regular plug and connected to WiFi then to other appliances to regulate their use and allow controlling them remotely whether inside or outside the house.
Reyad explained that his company aims to expand in America by the end of this year as well as expand in the local market.
He explained that his company is currently carrying out a trial where some people borrow Kabis’ plugs and try them out for a month then decide whether they would like to purchase them.
He added that his company has produced nearly 80 plugs so far, where nearly 120 people have tried them. The company aims to produce 1,500-1,800 plugs early next year.
He noted that Ebni incubator has supported the company with nearly EGP 50,000 in cash and a group of services worth EGP 50,000. The services include legal and financial consultations and providing a fixed location for work.
He added that another incubator affiliated to the Ministry of Investment and International Cooperation also incubated the company and supported it with nearly EGP 100,000 and provided it with a group of services.