Sustainable Food Systems

Selected

Beewise

Securing global food supplies by saving the bees through precision robotics, computer vision, and AI.

Team Lead

Saar Safra

8 Comments
MP MP Matteo Panzavolta

Great solution, keep pushing!

Marcin Szczur
Saar Safra

I think it is worth mentioning that we closed our Series A funding about two weeks ago (mid-June). We raised $10M lead by Fortissimo (http://www.ffcapital.com/), with Michael Eisenberg (http://www.ffcapital.com/), Lool (http://www.ffcapital.com/), and Arc impact (http://www.ffcapital.com/), participating.

Joon Hyun

In response to What are your estimated expenses for 2020?

This is a big amount - a breakdown into major components will be helpful for potential investors

Saar Safra

Mostly labor: we currently employ a team of 15 FTEs at a monthly burn of ~$150k, the lion share of which are engineers (software, hardware, AI), and some are for assembly. We plan to assemble 10 devices this year to our in the field in preparation for Q1 2021 which is when pollination events and honey flow season occur.

Joon Hyun
Saar Safra

We have a baseline of how many customers one salesperson can serve over a course of a year. We also know the COGS of our solution, and so the combination of both present us how quickly/aggressively we can expand our distribution in the market. We have a bear case and bull case, and the one I presented here is somewhere in the middle. In terms of demand, we signed up over 40 customers that could employ up to ~5,000 devices, so we have an idea of the pent-up demand for our solution. Customers on the waiting list have signed up for the service at full pricing and terms, and are waiting to be serviced. BTW, if we service 100% of this pent-up signed-up demand, we could realize up to $30M in ARR.

 
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