Augmented Reality (AR) and Virtual Reality (VR) studio and distributor for medicine. The platform is called “Vital Recall.” Simply put: this company makes AR and VR experiences to help you visualize and understand the human body in a variety of settings, such as during clinical trial. Has revenue, solid valuation, large customers such as AstroZeneca and others.
The 6 Calacanis Characteristics (91 161 18)
|1. A startup that is based in SV||Fail: Princeton NJ on LinkedIn, Austin TX when looking for a job.|
|2. Has at least 2 founders||Pass (3), maybe, at least 2 C-suite. (CEO, CTO, Mike O’Brien.)|
|3. Has product in the market||Pass|
|4. 6 months of continuous user growth or 6 months of revenue.||Pass: 2018 Revenue was $257k, 2019 Revenue was $436k.|
|5. Notable investors?||Fail: None that I recognize but I’m not a deep expert in this space. That said, they did highlight Notable advisors include Bill Mezzanotte, (MD,) Executive Vice President, Head Research & Development at CSL Behring. YouTube interview was friendly and gracious, so redemption credit.|
|6. Post-funding, will have 18 months of runway||Pass: Raising $2.5 million, current burn is 37k, confirmed will have 67 months of runway at present spend.|
The 7 Thiel Questions (ETMPDDS)
- The Engineering question:
- Interesting: Came in wanting to hate on AR/VR businesses since there hasn’t been one yet. Magic Leap has raised 2.6 million over 9 rounds and still hasn’t shipped a product. That said, these guys are convinced that going medicine first (as opposed to tech first,) will be the reason for their success.
- The Timing question:
- Bad: would love to see more success in AR/VR,
Want to read the whole post?
You don't have access to this post on Startup Investing for All by Muhan Zhang at the moment, but if you upgrade your account you'll be able to see the whole thing, including comments, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.