ICO is coming: Robot Vera — are they serious?

Overview from the team kript.io

What is Robot Vera: a robot-recruiter based on AI.
Project: Vera is a robot-recruiter that searches and selects potential employees, calls them, conducts video interviews, and invites the best candidates to the final interview with the employer. The selection usually lasts for about three hours.

They need a blockchain to store complete information about candidates and recruiters safely.
Robot Vera needs an ICO to attract more attention from investors and partners around the world. They need to raise money also to develop the project further, research, and enter the markets in the U.S. and China in future.

The Internet Initiatives Development Fund (IIDF) started to invest in Robot Vera from February 2016. The total amount has reached over $1,1 million. Most of the money — $850 thousand — the project attracted in August 2017.



How they differ from the competitors: Robot Vera can conduct VR-interviews: understand human speech and make a «live conversation» with the candidate.

How they want to make money: the client pays for the package of responses to the vacancy. One response is equal to one candidate who perfectly met all qualifications established by the employer and shown interest to work in the client's company.

At the moment, in the Russian market, the cost for one response is $2. The minimum price for the package is $150 for small and medium businesses and about $1750 for the clients with more than 1,000 employees. They only accept 100% advance payment.

Market size: companies all over the world spend around $50 billion on the search for employees annually.
What their token gives you: 1 token is equal to a single response, meaning that for 1 VERA token you can get 1 qualified candidate that Robot Vera finds. You can also give the token to someone else; it works like a gift certificate.

Token price:
1 VERA = $2.

What will happen to tokens: they will release 15,7 million tokens in total. You can buy some during the pre-sale (0,5 million) and an ICO (5 million). The unsold tokens will be transferred to reserve fund.

How much they want to raise on ICO: hard cap — $10 million, soft cap — $1,5 million. If they don't make the minimum, they will give the money back.

Where the money will go:
40% — localisation and finalisation of the product, market research,
and recruitment of employees
30% — improvement and further development of the product, based
on the market needs
30% — marketing and promotion in international markets
Crew: 90% are developers of a recruiting service Stafory. There are 25 people so far, some of them Vera Robot selected itself.

Free tokens: there aren't any.

Project status: as the developers say, within the last six months Robot Vera has implemented over 150 clients from Russia. The system has found more than 60 thousand qualified candidates, among them, several thousand were hired.

Communication: twitter, facebook, linkedin, telegram.

Date of ICO:
October 2017. There is no precise date yet.

Information on the landing page:
Disadvantages: the developers wrote that they need the ICO only for the further development of the project and entering the new markets. It's a bit strange though why they decided to start raising money this way and not through venture investment as before.
How clear is the project: ★★★☆☆

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