FenSens

FenSens is developing wireless sensor technology for vehicles.

Its first product, the FenSens Wireless Parking Sensor, enables users to detect objects in front or behind their car. The company is also developing a wireless backup camera and a theft-prevention device.

FenSens aims to create a connected vehicle platform enabling drivers to manage a car's technology through one mobile app.

In 2018, regulations went into effect stating that all new vehicles sold in the U.S. must have built-in backup cameras. However, many older cars don’t have this technology. As of 2006, for example, only 8% of cars had rearview cameras.

FenSens is targeting this market of older vehicles, as well as the $11 billion automotive camera sector. This is part of the overall $287 billion automotive aftermarket industry.

The company’s first product is a license plate-based parking sensor. Sensors are incorporated into a license plate frame that attaches to a vehicle. To help prevent theft, the frame comes with four custom screws. Owners are provided with a unique screwdriver specifically designed for the screws.

The sensors can detect objects up to 10 feet away and relay the proximity of the object back to the driver’s smartphone. A free app is required on a driver’s smartphone to receive Bluetooth signals from the sensors.

The app provides audio, visual, and vibration alerts as objects are detected. The closer the sensors get to the object, the more active these alerts become. Drivers can configure multiple phones to each sensor using the app. And the sensors are waterproof and run on AA batteries. The company has filed a patent for this license plate sensor.

In addition, all sensors come with a TAP QuickLaunch Button. This enables users to launch their wireless sensor app on their smartphone with the push of a button. FenSens has been granted a U.S. patent for this device design.

Currently, the button is only compatible with the parking sensor app. However, FenSens plans to further develop the button to launch more applications on a user’s smartphone without having to touch their phone. This could include launching virtual assistants like Siri.

FenSens’ products are sold direct-to-consumer via its website, as well as brick-and-mortar retailers including Best Buy, Fry’s Electronics, and Wal-Mart. Products are also available through online retailers such as Amazon.

In addition, FenSens signed a distribution agreement with WinPlus, a company that manufactures lifestyle automotive products. This company has retail relationships with brick-and-mortar stores like Target, Advance Auto Parts, AutoZone, Costco, and Sam’s Club.

The company’s parking sensors retail for $150, and its QuickLaunch buttons — though provided with each sensor — can be purchased separately for $15.

In 2016, FenSens completed a crowdfunding campaign through Indiegogo, a crowdfunding platform, where it raised an estimated $263,000.

In 2018, the company achieved a 32% increase in revenue, generating more than $740,000. As of 2018, FenSens is a profitable operation.

Most recently, the company was a 2019 finalist for Engadget’s Best of CES awards.

FenSens is developing several additional products which it will introduce over the next two years. These include:

Smart Wireless Backup Camera: This will be an aftermarket add-on for cars, boats, and RVs. The camera will livestream video to a user’s phone via an Android or iOS app. The camera will be attachable to the front or rear end of a vehicle, and communicate with a smartphone app via Wi-Fi technology. FenSens plans to begin shipping this device in April 2019, and expects it will retail for $150.

Smart Anti-Theft Device/Car Finder: This device is being designed to track lost or stolen vehicles via a user’s phone. It will also enable drivers to receive 24/7 emergency support and roadside assistance. FenSens believes this will retail for $90 with a $9.99 monthly fee to receive emergency support. The company aims to release this in May 2019 and has already filed a patent.

Projection Display For Autonomous Vehicles: This system will come in the form of a virtual bumper sticker that can be used to display ads or low power messages on autonomous vehicles.

To expand its customer base, FenSens is seeking partnerships with insurance companies. Through these partnerships, insurance companies could incentivize drivers to use FenSens products by offering better rates for safe driving associated with rear view cameras and sensors.

Team Background

Andrew Klein - Chief Financial Officer

In addition to serving as FenSens’ Chief Financial Officer, Andrew leads his own accounting business Zccounting.com.

Prior to this, he worked in strategy and development for Nomad Financial, an accounting company for early-stage startups.

Andrew was former Executive Vice President of ZINO Society, a network of entrepreneurs and angel investors focused on helping startups grow. In addition, he co-founded and served as CFO of BuildersCloud, a service enabling workers to share construction-related documents.

He earned a Bachelor’s degree in Accounting and an MBA from Seattle University.

Nik Talreja - Co-Founder & Advisor

Nik is a partner at Talis Partners, a law and strategy firm focused on startups.

In addition, he serves as Director of Finance and Operations at Spiral Therapeutics, a pharmaceutical company focused on developing treatments for hearing loss and ear disorders.

He earned a Bachelor’s degree in Corporate Finance & Entrepreneurship from University of Southern California, and a J.D. from UCLA.

Alex Shirazi - Chief Product Officer

Alex works with FenSens’ CTO Alex Werff at Phlint, where he serves as the company’s Chief Product Officer.

Prior to that, he co-founded Graph, Inc., a design company.

He earned a Bachelor’s degree from the University of Illinois.

Alex Werff - Chief Technology Officer

In addition to serving as FenSens’ CTO, Alex holds the same position with Phlint, a software development company.

He previously worked as a software developer for tech companies including Fashion Cloud and Orgadata AG.

Alex earned a Bachelor’s degree in Computer Science from the University of Bremen.

Andy Karuza - Co-Founder & CEO

In addition to running FenSens, Andy is a principal at The Agency, a marketing and product strategy consulting company.

Prior to that, he was CEO of Brandbuddee, a platform for brands and influencers to collaborate ideas.

Andy earned a Bachelor’s degree in Marketing from Western Washington University.

Andy founded FenSens in 2015 and was appointed CEO and of the company in 2016. As CEO and President - he is responsible for overall strategy

Nik co-founded in 2015 and served as COO from January 2017 to January 2019. He currently serves as an advisor and helps oversee company operations. In addition to working at FenSens - he is also currently serving as partner at Talis Partners LLP

Andrew joined in 2018 as an advisor and was appointed as CFO in 2019. In addition to serving as CFO at FenSens - he also currently leads his own small business accounting firm

Alex joined in March 2018 as an application developer and was promoted to Chief Technology Officer in January 2019. In addition to serving as CTO of FenSens - he also currently serves as the CTO of Phlint

Kyle joined as an advisor in 2016. In addition to advising FenSens - he also co-founded and serves as Chief Labs Officer at ReadWrite Labs

Alex joined FenSens as an Advisor in December 2017. In April 2018 - he was appointed as Chief Product Officer where he oversees product development. In addition to working at FenSens

Co-Investors