Singapore’s Protag to launch Indiegogo campaign for anti-loss device

Losing a valuable item can be a traumatic event, which is why Singapore startup Innova Technologies has developed the Protag Elite, a hardware-software combo system that alerts you when you’re about to misplace your mobile phone or wallet.

Like many other hardware startups today, crowdfunding has become its rite of passage. The company will be launching its own campaign today on Indiegogo where the first thousand backers could pre-order a set for USD 29. It hopes to raise USD 100k.

This is actually the second generation version of Protag. The first also had a crowdfunding campaign a couple of years ago where it raised USD 10k.

The company has been pretty low key lately after winning a startup competition in Singapore and raising USD 480k from Red Dot Ventures, an early-stage startup fund.

In that time, another similar product has stolen Protag’s thunder quite a bit, and it is none other than Tile, which was incubated out of Silicon Valley and has raised USD 2.6M — a 130x bump from its goal — through Selfstarter. That’s in addition to the USD 200k already accrued.

This makes the comparison between Tile and Protag inevitable. Aside from the fact the both use Bluetooth Low Energy and have similar functions, they’re pretty different beasts.

While Tile is all hype for now, Protag is already being sold in more than 10 markets in Asia-Pacific. It has also partnered with regional distributors to sell its products in airports, electronic stores, and through telcos.

Also, the philosophy behind the design and business model is different. Tile is smaller and cheaper — it costs USD 18.95 each — but the tradeoffs include needing to replace and pay for the device every year.

That may not necessarily be a bad thing, since receiving a new tile is probably the equivalent of getting a new hardware upgrade, kind of like trading in your old phone for a new one when you re-subscribe to a mobile phone plan.

So while Protag is bulkier and more expensive — it retails at USD 79 — it could supposedly last for years. While it may be cheaper in the long run, it could scare off consumers who’d find the upfront cost too intimidating.

In terms of similarities, both companies have ways for users to locate a misplaced Tile or Protag, and both utilize crowdsourcing and proximity sensing to help users locate missing items.

Protag’s system does appear more sophisticated though. It includes a Trace software that acts like Find My iPhone, enabling users to remotely track valuables as well as lock, backup, and wipe data off their smartphones.

It also does more to help you retrieve your lost item: If someone from Protag Elite community locates it, you can set up a chat session with the user to arrange for a pickup.