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YBO — Business Plan
The open smart-boat platform — power, control, monitoring, safety & cloud — for yachts and small commercial vessels
v2.0 — 2026-08 · Confidential
1. Executive Summary
YBO is building an owner-configurable, interoperable platform for boat electrical digitalization. At its core is solid-state smart power distribution — replacing most eligible branch fuses and control relays, and reducing long switch-control wiring runs, with distributed networked power modules. Independently rated source/feeder protection, critical-load fallback and high-power mechanical switching remain wherever the installation safety case requires them. Around that core, the platform extends to a central control unit, wired and wireless switching, AC integration and automation on branded switchgear, monitoring and cloud services — DC and AC are managed as one complete on-board electrical system; camera and wearable products remain staged options.
- The problem: refit customers face heavy, poorly documented systems that are expensive to change and diagnose, while builders repeatedly engineer, assemble, commission and document bespoke relay/fuse panels and point-to-point control wiring across models and customer options.
- The market gap: digital switching is proven, but established offerings are commonly delivered through integrated brand, builder or qualified-installer ecosystems. The opening YBO must validate is governed configuration access, reusable production/refit workflow, interoperability and lower total installed cost for independent builders, installers and owners.
- Our positioning: an independent, open alternative — targeting system pricing 40–60 % below incumbent packages, configuration software open to builders, owners and installers, interoperability with equipment boats already carry, and evidence-gated refit and new-build entry routes.
- Target customers and priority: one Core family covers refit of 8–50 m vessels; whether a boat takes a standard bundle or a project quotation is decided by the electrical survey (bank topology, fault current, redundancy, class involvement), not by vessel length. Refit and YBO-branded new-build front-fit with small/mid-size builders are the two initial routes — YBO sells under its own brand and does not supply white-label/OEM products to third parties; remote/uncrewed-vessel infrastructure and later class-qualified small-commercial variants remain strategic/order-triggered options.
- Business model: hardware margin (≥50 % target on YBO net revenue after channel discount) + recurring subscriptions with tier-specific contribution-margin gates + refit services + new-build programs + project-priced zone-refit/remote-vessel integration.
- Execution model: the leading v1 candidate is contract manufacture to YBO specifications on an automotive-grade platform base. This remains gated on a signed M3 term sheet, transfer-price ceilings, firmware/protocol rights and bench/environment evidence; it is not yet a frozen sourcing decision.
- Footprint: Spain (EU sales, compliance, Western-Mediterranean refit market) + Turkey (engineering, assembly, refit services, and one of the world's largest aging charter fleets at the doorstep) + Singapore (group holding & IP domicile, Asia supply-chain coordination, and the beachhead for future Asia-Pacific sales).
- Funding requirement: €1.8 M base over 24 months (scenario range €1.6–2.25 M), from founder capital, operating cash and an external raise. Tranche 1 is determined by the monthly cash trough; the current gross M1–M14 requirement is approximately €1.20 M before founder and operating-cash offsets.
2. Market Opportunity
- Source population: US Coast Guard data identifies about 629,000 registered 26–65 ft powered vessels plus 82,000 registered sailboats without a length split as a qualification ceiling; European Commission/industry material estimates more than 6.5 million boats in European waters, most below 7.5 m.
- Refit coverage and entry route: YBO commercially covers 8–50 m refits with one product family and one delivery model: survey → scoped or whole-boat migration → standard bundle or project quotation. Scope, not length, drives the choice — from a single-zone upgrade to a whole-boat rewire or selected-zone modernization (accommodation/cabin distribution, helm electrical/control panels, lighting, deck service, navigation/communications power). Only a fraction of the installed fleet needs a major electrical system in a given year, but each qualified job is a potential system sale. Palma de Mallorca, Barcelona and the Turkish coast provide reachable installer/fleet channels and a fast reference-installation path.
- New-build entry route: builders can design the same Core/Studio architecture into a model family, reuse controlled option configurations and carry the resulting build record into after-sales service. NMMA estimates approximately 215,000–225,000 US new powerboats in 2025, with more than 90% in entry-level/trailerable segments; YBO's model therefore treats only 3–8% as technically and economically eligible.
- Small commercial vessels (workboats, small ferries, fishing) share related low-voltage architectures but remain a strategic later option, reachable only through the applicable classification-society approvals.
- Preliminary internal serviceable-market model: sourced populations × explicit eligibility × annual purchase rate × YBO net hardware ASP produce an €18–98 M annual range with an approximately €46 M base case. The range is not an external headline until paid vessel data, 20 interviews, 5 written expressions covering both initial routes, at least one paid reference pilot per route and a frozen bundle price validate the assumptions. See
MARKET-MODEL.md.
Target customers and vessel coverage
Commercial priority is set by route and buyer type, not by vessel length. Refit (8–50 m, undivided) and YBO-branded new-build front-fit (standard for 8–24 m builders, project-based for 24–50 m) are the initial routes; strategic options do not receive equal launch resources by default.
| Priority | Cohort | Commercial vessel envelope | Buyer / channel | Trigger and initial offer |
|---|---|---|---|---|
| Initial route | Owner-operated refit | 8–50 m coverage; typically cruising sailboats, motor cruisers and multihulls | Owner through an independent electrician, installer or refit yard | Electrical upgrade or rewire; Refit Starter or Refit Pro, sized by the survey |
| Initial route | Charter-fleet / operator refit | 8–50 m coverage | Fleet operator or technical manager through installer/yard | Fleet-wide modernization, observability or operations; Refit Pro / Fleet |
| Initial route | Yard- or manager-led refit | 8–50 m coverage; larger or complex vessels with a captain/chief engineer | Owner/yacht manager, captain or chief engineer through yacht yard/system integrator | Whole-boat or zone deployment; survey findings (bank topology, fault current, redundancy, class) may trigger the project-quotation path |
| Initial route: 8–24 m; project-based: 24–50 m | New-build front-fit (YBO brand) | 8–24 m / 26–79 ft standard design-in; 24–50 m project-based | Small/mid-size builder or yacht integrator, installing the YBO-branded system | Design-in modules, reusable model/option templates, commissioning evidence and controlled as-built handover; no white-label/OEM supply |
| Strategic / order-triggered | Remote/uncrewed vessel infrastructure | Length not frozen; qualified by 12/24 V architecture, loads, footprint, communications and operating responsibility | Remote-vessel builder/operator, mission integrator or specialist yard | Space-minimized distributed electrical control, remote power/reset/load shedding, telemetry and local fail-safe rules |
The 8–50 m range is a commercial coverage envelope, not a verified electrical rating. Every refit starts from the same survey, and the survey — not the length — decides whether a standard bundle applies or a project quotation is required. On large and remote vessels YBO may power, protect and monitor navigation/communications equipment, but does not replace that equipment or claim autonomous navigation, collision avoidance, propulsion/steering control or other safety-critical vessel control. See ASSUMPTIONS.md and MARKET-MODEL.md.
3. The Problem
Across new-vessel design and production, refit, operation, service and handover, customer pain concentrates into four linked problem clusters. The final column points to YBO's design response in Section 4; it is not evidence that demand or outcomes have been validated.
| Problem cluster | Consolidated customer pain | Section 4 product response |
|---|---|---|
| 1. Engineering, installation and change cost | In new builds, bespoke relay/fuse panels and point-to-point control looms repeat model/option engineering, assembly, commissioning and documentation work. In refits, the same architecture consumes cable and panel/locker space, while later changes repeat tracing and wiring. | §4.2 New-build / §4.3 Refit: Core family · Key & Air · Studio |
| 2. Electrical state, diagnosis and unattended operation | Conventional protection interrupts faults but often lacks per-circuit current, trend, trip-cause and remote-state context. At berth, in storage and between charter turns, shore power, batteries, bilge systems, temperature and auxiliary loads keep changing; mixed banks, chargers, inverter/chargers, alternators, solar, shore power and larger lithium loads multiply operating states and unsafe-workaround risk. | §4.1 Architecture / §4.6 Products: Core/Sense · Hub · Mate |
| 3. Operational and service continuity | Incomplete drawings and limited fault context turn tracing, callouts and specialist-capacity constraints into downtime. As modifications accumulate, wiring, protection settings, equipment records and diagrams drift; distribution, energy, alarms, navigation data, cameras and maintenance records remain fragmented; proprietary access may stay channel-controlled; and handover, service, survey preparation and resale depend on one skipper's or engineer's tacit knowledge. | §4.6 Product matrix: Studio · Mate |
| 4. Remote/uncrewed recovery | With no crew aboard to inspect or reset equipment, loss of communications, command authority, local defaults, load shedding, auditability and physical service access must be designed explicitly. | §4.5 Remote/uncrewed solution: Remote Vessel Infrastructure |
Evidence basis and limits. Incident and consequence evidence comes from the US Coast Guard's 2024 recreational-boating statistics and the NTSB investigation of the yacht Flagship. Refit, skills and maintenance evidence comes from the European Commission, British Marine and DNV condition-monitoring material. Remote-operation and connectivity evidence comes from the IMO autonomous-shipping and IMO maritime-cyber guidance; DNV and IMO material is primarily commercial-vessel context. These sources establish problem relevance, not YBO demand, target-cohort incidence, achievable savings or willingness to pay; those remain interview, quote and paid-pilot gates.
4. Solution
YBO uses one shared platform for new builds, refits, zone projects and remote vessels rather than creating a separate product stack for each market. Across those scenarios the platform covers five layers — power · control · monitoring · safety · cloud — and keeps one configuration and evidence chain from design through commissioning, operation, service and handover.
4.1 Overall solution architecture
| Stage | YBO layer | Role |
|---|---|---|
| Design and configure | Studio | Defines circuits, protection, controls, alarms and documentation from one versioned vessel model. |
| Protect and distribute | Core HD → zone Core S/M | Core HD manages primary feeds and higher-current loads; S/M modules sit near load zones and own branch protection, switching, measurement and dimming. |
| Integrate AC | YBO AC (Core outputs + Hub interfaces on branded AC switchgear) | Shore power, generator, inverter/charger and solar are brought under the same system: Core channels drive contactors and shunt-trip breakers in a third-party AC board, Hub reads AC metering and source state, Studio defines source priority and interlocks; AC feeds and sources report live current and presence into the same telemetry and alarms as DC channels and confirm every contactor command. Certified protection and hardware interlocks stay on the AC board, which no YBO hardware shares a load-carrying path with. |
| Sense and control locally | Sense · Key · Air | Sense reuses installed senders; wired Key remains the deterministic path for critical circuits; Air adds non-critical comfort controls without a dedicated control run. |
| Connect, operate and service | Hub · Mate | Hub provides local logic, interface and interoperability; Mate carries permitted remote operations, alerts, history, equipment records, maintenance and handover. |
Layered protection boundary. Core electronic channels provide switching, measurement, configurable branch protection and diagnostics. They do not remove the need to size independently rated battery/source and zone-feeder fuses or breakers against conductor ampacity and prospective fault current. Critical loads retain a documented local/manual recovery path, and windlass, thruster, starter, inverter-feed and AC functions use external contactors, isolators or certified switchgear whenever they fall outside the verified direct-switching envelope. See research/07-marine-vs-automotive-power-distribution.md.
Critical functions retain wired/local control, documented physical bypass and defined degraded modes. Wireless control is limited to non-critical comfort use. The same architecture is then packaged differently by delivery scenario below.
4.2 New-build (front-fit) solution
Initial route (standard for 8–24 m builders; 24–50 m by project). The new-build offer is the same platform configured as a repeatable production system: Core HD at the source/main-distribution level, Core S/M close to load zones, Key for deterministic local control, optional Air for non-critical comfort controls, Studio as the design/build record, and Hub/Mate as the commissioning and after-sales state layer. YBO sells it to builders under its own brand; it does not supply white-label or OEM products to third parties.
| Production concern | Conventional relay/fuse and bespoke point-to-point approach | YBO target response and beneficiary |
|---|---|---|
| Distribution architecture | Central panels and long control runs can multiply panel terminals, cable routes and model-specific loom work. | Core HD + zone Core S/M target shorter control paths, modular load zones and a smaller centralized panel burden; builder engineering and production benefit. |
| Model and customer options | Each option can drive drawing, loom, panel-label and test variation. | Studio reuses a controlled base model plus option packages and emits a versioned per-hull build manifest; engineering and quality benefit. |
| Environmental protection and fault domain | A conventional cabinet can be ingress-protected, but many terminals, cable entries and a concentrated assembly increase enclosure and fault-containment work. | Target IP67-rated Core modules, qualified mated connectors and documented installation rules distribute sealed zones and localize faults. A module rating does not establish the final installed-system IP rating. |
| Commissioning and rework | Point-to-point verification and fault tracing depend heavily on drawings and manual checks. | Studio deploys the approved configuration and records end-of-line circuit checks, protection settings and exceptions; production and service benefit. |
| Handover and after-sales | Static drawings can diverge from the delivered vessel, leaving service teams to reconstruct its state. | The build manifest, test record, as-built diagrams and Hub/Mate telemetry share one version chain; service networks and owners benefit. |
| Total installed cost | Module prices hide the combined cost of control wiring, panels/enclosures, assembly, commissioning and rework. | YBO targets a lower total installed cost, not merely a lower module price; the result remains a new-build-pilot metric rather than a verified saving. |
These are design targets for builder discovery and paid new-build pilots. YBO will not publish labor, cable-weight, enclosure, rework, protection or cost savings until a reference build measures the complete installed system. Established digital-switching suppliers may offer some of the same architectural benefits; YBO's intended differentiation is open configuration, reusable production tooling, interoperability, target economics and the shared operational data layer. The AC integration layer described in §4.3 applies equally to new builds, where the AC board and its automation are specified together in the model template.
4.3 Refit solution
Initial route. A refit starts with a circuit/load survey and an evidence-backed migration plan rather than a forced whole-boat replacement. Studio captures the actual baseline; Core HD/S/M are assigned by main-feed and load-zone needs; Sense reuses suitable installed senders; Key preserves wired critical control; and Air is limited to non-critical locations where avoiding a new control run creates value. Commissioning then produces the current configuration, test record and as-built documentation before Mate carries status, alarms, history and maintenance into operation.
AC integration. Where the survey includes the AC side, the same project adds YBO AC: the existing or newly built branded AC board keeps its certified breakers, RCD/ELCI and hardware-interlocked source transfer, while Core channels drive its contactors and shunt-trip breakers and Hub reads the energy meter, inverter/charger, solar controller and generator. AC state is read back in three layers: dry contacts on Sense digital inputs judge shore-power loss and contactor mismatch locally even with Hub offline; a multi-circuit acquisition module on Hub RS-485 supplies per-circuit current, voltage and power; and an auxiliary contact on each automated circuit confirms the contact itself — because current confirms a closed circuit but never an open one. All of it is shown, alarmed and logged exactly like DC channels and used to confirm each automated transfer. Shore-power, generator and inverter priority, load shedding and battery-state-based inverter policy then become Studio configuration, with every automated transfer logged in Mate. YBO engineers and commissions this on branded components; it does not manufacture AC switchgear, and no YBO hardware carries AC load current or AC potential — AC reaches YBO only as a transducer or monitoring-relay output, and leaves it only as a DC coil drive or dry contact.
Refit Starter covers scoped single-zone upgrades and Refit Pro/Fleet covers whole-boat modernization; the bundle is sized by circuit count and load profile from the survey, not by vessel length. Where the survey shows constraints — bank topology, fault current, selectivity, redundancy, insurer/flag/class involvement — the job moves to the project-quotation path in §4.4. Branch-power wiring, required manual protection/bypass and non-YBO equipment remain in place where the survey requires them. Labor, cable and total-installed-cost benefits stay pilot measurements rather than promised savings.
4.4 Zone refit and project-quotation triggers
Same product, project-scoped delivery. When the survey shows that a vessel — of any length — cannot be served as a standard bundle, YBO delivers a project-qualified zone solution rather than an automatic whole-vessel replacement. Core HD supplies protected zone feeds; Core S/M, Sense and Hub provide branch protection, switching, telemetry and alarms; Studio controls the configuration and as-built record; and Mate can expose permitted operational and service views.
Typical zone scope includes accommodation/cabin distribution, helm electrical distribution and control-panel modernization, lighting, deck-service and navigation/communications power circuits. At the helm, YBO covers electrical distribution and non-safety-critical interfaces only. Project-quotation triggers: voltage/bank topology, available fault current, selectivity, redundancy, circuit/load count, installation zones, manual bypass and insurer/flag/class/integrator responsibility must be frozen before quotation. YBO does not replace navigation/communications equipment or claim propulsion, steering or other safety-critical vessel control.
4.5 Remote / uncrewed-vessel solution
Strategic / order-triggered option. The Remote Vessel Infrastructure package combines Core/Sense/Hub/Studio/Mate as compact 12/24 V distributed electrical infrastructure. It targets authenticated remote power/reset/load shedding, telemetry, alarms and audit records while retaining local watchdogs, loss-of-link defaults, physical service bypass and a defined degraded state.
The mission controller remains separate. v1 is human-in-the-loop electrical operation; autonomous navigation, collision avoidance and propulsion/steering control remain outside the product and approval boundary. Vessel length stays unfrozen until a paid application validates load, space, communications and operating-responsibility requirements.
4.6 Product matrix and boundaries
| Line | Positioning |
|---|---|
| Core family (3 modules: S / M / HD) + Sense | Solid-state smart power distribution. Core HD is the smart main-distribution layer for high-current loads and zone feeds; direct switching is allowed only inside its verified continuous-current, inrush, thermal and fault-interruption envelope, otherwise it controls external contactors/isolators. Core S and M own eligible branch circuits, with per-circuit programmable protection, live current measurement and dimming. The family reduces conventional branch fuse/relay panels and control wiring but retains independently rated source/feeder protection, required manual fallback and external high-power/AC switchgear. MSRP $449–1,299 per module. The compact Sense input module reads the tank, temperature and alarm senders already installed on board — with alarm logic that keeps working even if everything else is down |
| YBO AC | AC integration and automation on branded switchgear, in two layers: AC design & commissioning service (refit service, revenue bridge — the board is built and signed off by a partner workshop or licensed electrician) and AC automation (Core-driven contactors and shunt-trip breakers, AC metering plus per-feed current and presence sensing that reports AC state like DC channels, shore/generator/inverter-charger/solar interfaces, Studio-defined source priority, interlocks and load shedding, Mate energy dashboard and transfer log). Certified protection, RCD/ELCI and hardware-interlocked transfer stay on the AC board; YBO logic never parallels sources, YBO does not manufacture AC switchgear and no YBO hardware carries AC load current or AC potential. Project-quoted |
| Hub | The boat's brain: local and remote user interface, alarm logic, connectivity management. Designed for NMEA 2000 interoperability; certification and named Garmin/Simrad/Raymarine compatibility are release gates, while the local interface remains functional without a chartplotter. Connectivity-agnostic: marina Wi-Fi, cellular, or the owner's satellite router |
| Key & Air | Human interfaces: wired backlit keypads for critical circuits (the always-works path) and dual-radio wireless switches for comfort circuits — add a switch without a dedicated control run, targeting lower control-wiring effort in both production and refit. Air (gateway + switches) is also sold as a standalone kit — the pair alone, no other YBO node — that drives third-party NMEA 2000 digital switching or Modbus targets, giving a Core-independent entry into the installed base |
| Studio | Configuration software, fully open to builders, owners and independent installers — the direct attack on the incumbents' dealer-locked model. Drag-and-drop circuit design with safety guardrails and auto-generated professional wiring documentation (survey and insurance grade). Free — it is the channel-acquisition and production-reuse tool |
| Mate | The boat's digital first mate — one app + cloud platform unifying live monitoring and vessel management, because the data is one: distribution telemetry, tank and temperature senders, the boat's own GPS and navigation instruments, and engine data all feed a single vessel model. Remote monitoring, alerts and history; equipment registry and maintenance schedules driven by real usage data rather than empty forms; document management with expiry reminders. Digital handover: because the platform holds the boat's full systems map, live status and history, a newcomer — relief skipper, technician, charter guest or new owner — can fully understand a boat's functions, operation and maintenance state in under an hour, replacing the one person who "knows the boat". Tiers: free basic · Premium €8–12/mo (monitoring + vessel management + handover) · Security €15–25/mo (adds camera AI + bundled connectivity) · Fleet per-vessel (everything + operator dashboard, turnaround checklists, compliance tracking). Years of accumulated vessel history become a resale-value dossier for the owner — and a durable switching cost in YBO's favor |
| Remote Vessel Infrastructure (order-triggered) | Existing Core/Sense/Hub/Studio/Mate components configured as compact 12/24 V distributed electrical infrastructure for remotely operated or uncrewed craft: authenticated remote switching/reset/load shedding, telemetry, alarms, audit logs, loss-of-link default states and physical service bypass. Integrates with a separate mission controller; v1 is human-in-the-loop electrical operations, not an autonomous-navigation or propulsion-control product |
| Eye (staged) | Camera monitoring with on-device AI: intruder alerts at berth and anchor, visual engine-room/bilge checks. Third-party marine cameras integrated first; own camera at volume; docking-assist vision reserved for a later new-build program |
| Tag (staged) | Deferred crew-overboard monitoring wristband: target water-entry/signal-loss detection and kilometre-scale line-of-sight range, subject to on-water validation. The base alert flow marks position and notifies phones; any deck-light or horn actuation remains opt-in and blocked until specialist classification and safety validation. Asset tags may extend the same radio to tenders and other detachable equipment. Marketed as monitoring assistance, never as certified life-saving equipment |
Deliberate non-goals: YBO does not manufacture sensors, chargers/inverters, generators, solar controllers, AC switchgear or chartplotters, and no YBO hardware carries AC load current — it senses, controls and integrates them through industry standards (NMEA 2000, Modbus, vendor CAN, Victron et al.) instead of competing, and reads the senders and meters already installed on board.
System bundles: Refit Starter ~€900–1,200 · Refit Pro (full boat) ~€2,500–4,000 vs incumbent €6,000–10,000 · Fleet (hardware + per-vessel subscription) · New-build Production (co-engineering + model/option templates + commissioning/as-built pack + volume pricing) · AC Automation add-on (project quote) · Zone project / Remote Vessel Infrastructure (project quote only).
5. Business Model & Revenue Streams
- Hardware — target gross margin ≥50 % on YBO net revenue after installer/dealer discount. At a 25–35% channel discount, landed COGS must be no more than 37.5–32.5% of MSRP; Core supplier quotes are an M3 stop/go gate.
- Recurring subscriptions — monitoring, security, vessel-management and fleet tiers plus optional bundled connectivity. Initial contribution-margin gates are ≥70% for Premium and ≥50% for Security after data, storage, messaging, payment and variable support; neither is treated as a verified margin before vendor quotes and paid cohorts.
- Refit services (Turkey/Spain) — AC design & commissioning services and rewiring projects generate revenue from month ~4–5, before certified products ship, with AC automation commissioning added once Core/Hub/Studio are available — self-funding part of the runway and feeding the installer network with reference projects.
- New-build programs — YBO-branded front-fit design-ins with small and mid-size builders (no white-label/OEM supply): volume hardware plus model/option templates, commissioning/as-built artifacts and training.
- Project-scoped deployments — survey-triggered zone refits and remote-vessel deployments combine hardware with paid survey, configuration, integration and validation; pricing and margin are project-specific until paid references exist.
No uncontracted project-scoped refit or remote-vessel revenue, approval cost or delivery capacity is included in the current base financial model.
6. Go-to-Market
Initial route A — refit, starting with our own vessel. The company's own renovation project becomes the demonstration boat: documented before/after labor hours, cable weight removed, and live remote monitoring — the core refit sales asset. Paid pilot refits follow with Turkish charter fleets and Palma/Barcelona installers. Refit Pro targets parity with a conventional rewiring quote; this positioning remains subject to complete installed-cost evidence.
Initial route B — YBO-branded new-build front-fit with small/mid-size builders. European and Turkish builders below the incumbents' large-builder radar receive a production package: design-in engineering, reusable model/option templates, controlled commissioning/as-built records and training. The first reference build measures engineering effort, wiring/enclosure impact, assembly, commissioning/rework, installed protection and total installed cost against the builder's conventional baseline.
The two routes use the same T0 product and run in parallel during validation. Signed pilot access, sales cycle, integration/support burden and unit economics determine which route receives more commercial and engineering capacity; the plan does not assume the answer in advance. Refit services remain an early cash bridge even if a new-build design-in becomes the first scalable product account.
Yard- and manager-led refit channel. Yacht yards, captains/chief engineers, yacht managers and system integrators specify zone refits such as accommodation/cabin distribution, helm electrical distribution and control-panel modernization, lighting, deck-service and navigation/communications power circuits — the same product family, delivered through the project-quotation path when the survey requires it. Helm work is limited to non-safety-critical electrical interfaces; YBO does not claim whole-vessel replacement, propulsion or steering control.
Order-triggered — remote/uncrewed vessels. Remote-vessel builders and mission integrators pilot a compact electrical-infrastructure package. The first release controls electrical loads under human supervision; navigation/autonomy and propulsion/steering remain separate systems and approval paths.
Launch venue: METSTRADE Amsterdam (the industry's equipment show), November 2027, with certified products and pilot references in hand.
Channel evolution: direct refit/fleet pilots + new-build co-design → installer/dealer program and builder references → aftermarket distribution + new-build serial production.
7. Competitive Landscape & Differentiation
The category already contains capable digital-switching, monitoring and control platforms. YBO's case is therefore not “digital switching exists only here”; it is a compound comparison that must be proven in target-cohort benchmarks and paid pilots.
| Platform | Position visible in official material | YBO comparison to validate |
|---|---|---|
| CZone (Brunswick) | The publicly visible access point is an account-based portal; the public page reviewed does not establish full configuration permissions or channel scope. | Configuration access by role, refit workflow, installed price and independent-channel support. |
| EmpirBus (Garmin) | Modular distribution, monitoring and automation; customization tools for builders/qualified installers; Garmin and third-party MFD integration. | Whether governed owner/independent-installer access, reusable production records and lifecycle data produce a material workflow or cost advantage. |
| MPower (Maretron/Carling) | Complete digital-switching range with bypass modules, pre-built configurations and published programming material. | Like-for-like BOM/installed cost, configuration governance, cloud/handover workflow and refit delivery effort. |
| PowerPlex (E-T-A) | Open J1939/CAN system with configuration suite, control interfaces and marine applications. | Modern design/commissioning UX, lifecycle records, target-channel availability and installed economics—without claiming open CAN as unique. |
| Victron | Broad marine-energy, remote-monitoring and control ecosystem with expanding switch-pane and third-party digital-switching integrations. | Primarily an interoperability partner and adjacent control platform; validate where native YBO branch protection/control adds value rather than duplicating GX/VRM. |
Competitive hypothesis. Broader configuration access could require established vendors to change support, channel and liability processes, creating friction—but it does not make a response impossible. YBO must show that governed access can coexist with safety controls and sustainable installer/builder economics.
Target compound advantage: governed configuration for builders, owners and independent installers · reusable production/refit tooling · interoperability · lower total installed cost · local Western-Mediterranean delivery · and one version chain across distribution, monitoring, maintenance and handover. None is a moat by assertion; the combination becomes defensible only through supplier rights, installed references, workflow data and retained vessel history.
Official-source check (2026-08): CZone portal · Garmin EmpirBus · Maretron MPower · E-T-A PowerPlex and its open-system documentation · Victron Venus OS switching integration.
8. Company & Operations
- Entities: Singapore Pte. Ltd. — group holding and IP domicile (neutral, investor-friendly jurisdiction), Asia supply-chain coordination, platform for future Asia-Pacific sales; structure to be finalized with counsel. Spain SL — brand licensee, EU sales, CE responsible entity. Turkey Ltd. Şti. (free-zone evaluation underway) — engineering, assembly and test, refit service arm, non-EU exports.
- Manufacturing strategy: contract production to YBO specifications on a proven automotive-grade platform base — volume-tested quality and IP67 robustness without capital-intensive board development; final assembly and 100 % test in Turkey. YBO's defensible IP sits in firmware, protocols, configuration software and cloud. A fully in-house hardware generation is planned as a second-generation option for margin and supply security.
- Team: founders combine shipyard operations experience with hardware and software R&D. Build-out to 11–13 people in the first six months across hardware, embedded, software/cloud, mechanical design, certification and a two-person refit crew (the early-revenue engine). ISO 9001 track from Year 2.
- Brand: YBO (confirmed; clearance search clean). Trademark filing in classes 9, 12 and 42 across EUIPO, Türkpatent, USPTO and IPOS (Singapore) precedes incorporation.
9. Regulatory & Compliance Pathway
There is no single blanket CE/RCD route. RCD covers separately marketed components only where its scope applies; ordinary low-voltage modules require a per-SKU assessment. The controlled route is in COMPLIANCE-MATRIX.md.
| Work package | Scope | Window | Budget status |
|---|---|---|---|
| EU applicability + technical-file plan | Intended use, economic operator, EMC/RED/LVD/RCD/GPSR/RoHS/WEEE/Batteries per SKU | By end of M1 | External counsel/lab quote required |
| Core/Sense/Key + YBO AC | Non-radio EMC/safety route; no LVD scope on the YBO side (no YBO hardware carries AC potential — the board builder carries the assembly); marine environment evidence | M1–12 | Inside €120k base compliance reserve; quote required |
| Hub/Air radio + cybersecurity | RED safety/EMC/spectrum, RED cybersecurity, CRA lifecycle evidence | M1–12 | Quote required; engineering workload separate from lab fee |
| NMEA 2000 | Certification/product identification for each product that reads or transmits N2K | M3–12 | Previous ~€15k is provisional until product count/route is quoted |
| US + class approvals | FCC/ABYC after EU launch; classification society only against an order | M13+ / Year 2–3 | Outside initial launch route unless scope is approved |
Product liability insurance is budgeted from first sale. Before EU sale, every launch SKU requires an approved applicability memo, technical file, traceability and support/vulnerability process. RED cybersecurity already applies to covered products; CRA reporting starts in 2026 and its main obligations apply from 11 December 2027, immediately after the target launch window.
10. Roadmap & Milestones
Calendar anchor: M1 = October 2026; therefore M14 = November 2027.
| Phase | Window | Objective | Exit criteria |
|---|---|---|---|
| 0 · Hardware research | M1–3 | Platform-base evaluation, marine environmental pre-tests, radio field tests; manufacturing-partner term sheet; per-SKU compliance memo/quotes and cybersecurity gap plan | Spec-freeze package; signed vendor term sheet; no unresolved compliance P0 |
| 1 · Build & prove | M4–9 | Prototypes through design validation; own demo vessel fully installed; refit services selling | Demo boat live — the sales asset; first revenue |
| 2 · Conform & launch | M10–14 | Per-SKU EU conformity evidence, radio/NMEA certification where applicable; 5–10 paid pilot refits; first new-build co-engineering agreements; first production batch | Target METSTRADE launch, November 2027, subject to supplier, product and compliance gates |
| 3 · Sell, scale, expand | M15–36 | Installer/dealer program; US entry; subscription tiers GA; staged products (camera AI, crew wearable, helm display); project-scoped zone-refit and remote-vessel pilots; classification approvals for small commercial vessels | 30–50 cumulative new-build design-ins; 1,000+ connected vessels; project-scoped pilots only against approved project gates |
11. Financial Plan
Funding requirement: €1.794 M base over 24 months (scenario range €1.587–2.254 M), before operating cash inflow. Founder capital + external raise fund the cash trough. The current gross need through M14 is approximately €1.202 M; therefore a €700–900k first external tranche works only when committed founder cash plus cumulative net operating cash contributes approximately €302–502k. See COMMERCIAL-MODEL.md.
| Use of funds (24 months) | Low | Base | High |
|---|---|---|---|
| Team (~10–13 average, incl. refit crew) | €850k | €900k | €1,100k |
| Prototyping, tooling, demo vessel | €150k | €180k | €250k |
| Compliance and certification | €90k | €120k | €150k |
| Entities, legal, trademark (SG + ES + TR) | €70k | €80k | €110k |
| Marketing & trade shows | €100k | €110k | €150k |
| First production inventory / working capital | €120k | €170k | €200k |
| Subtotal before contingency | €1,380k | €1,560k | €1,960k |
| Contingency (15%) | €207k | €234k | €294k |
| Total | €1,587k | €1,794k | €2,254k |
Unit economics gates: hardware ≥50% gross margin on YBO net revenue; Premium ≥70% and Security ≥50% contribution margin. Core and paid-tier economics remain provisional until external quotes close ASSUMPTIONS.md gates.
Management ambitions, not forecasts: Y1 €100–250k · Y2 €1.0–1.5 M · Y3 €3.0–5.0 M. At an illustrative €2,400 net hardware ASP these equal 42–104, 417–625 and 1,250–2,083 full-system equivalents before service/subscription revenue. They require a channel/cohort model; no breakeven month is published until the monthly cash-flow model produces it.
12. Risk Factors & Mitigation
- Candidate-platform dependency — Core remains a candidate strategy until signed transfer-price/IP/supply terms and bench/environment evidence pass the M3 gates; otherwise the affected variants and schedule are re-baselined.
- Compliance timeline — per-SKU applicability, lab quotes and cybersecurity gaps close by M3; no certified-launch statement survives an unresolved compliance P0. Refit-service cash is counted only net of delivery cost and collection timing.
- Safety and product liability — fail-safe engineering policy, rigorous derating, insurance from first sale; camera-AI and crew-wearable features are marketed as assistance, never as certified safety functions.
- Incumbent reaction — differentiation rests on structural friction (dealer channel vs governed open configuration) that price cuts alone do not resolve; per §7 this is a hypothesis to validate, and an incumbent response is possible — mitigation is speed to installed references, supplier rights and retained vessel history.
- Open configuration misuse — safety guardrails, validated templates, rollback, and installer-signed configuration reports for insurance-relevant work.
- Multi-jurisdiction execution overhead (SG/ES/TR) — early operations/finance hire; free-zone and advisory structures in Turkey; lean holding setup in Singapore.
- Wireless scepticism — wireless is confined to comfort circuits; every critical circuit retains a wired, deterministic control path.
- Remote-operation boundary — authenticated commands, audit logs, defined loss-of-link behavior, local watchdog/default states and physical maintenance bypass are mandatory. No remote/uncrewed release includes autonomous navigation or safety-critical propulsion/steering control without a separate safety case and external approval.
Internal follow-up: current evidence gaps, accountable roles, decision gates and closure criteria are maintained in the internal completion checklist.
Detailed technical specifications, engineering schedules and sourced market research are maintained as separate internal documents and are available on request under NDA.