It’s a little bit confusing of Indiegogo campaign because what they call “shipping” for EU recipients is actually shipping with VAT and other fees depending on shipping country.
Usually, the actual cost of transport & handling represents only about 1/3 of the total amount charged labeled as “shipping”. VAT of the product itself represents approximately 1/2 of the “shipping” price. The remaining 1/6 is composed of the Indiegogo platform & transaction fees (link) payable from whole “shipping” price and VAT of the “shipping” (except its part covering VAT of the product), we have to pay as well.