Deal Abstract

https://www.seedinvest.com/gali.health/seed

Alexa/Siri/Google Now for individuals facing chronic health conditions. Has a moble app in beta and will be rolling out a Healthome Platform post-funding. This is pre-revenue, with the beta version scheduled for Q2. Plans to make money from pharma partnerships and freemium personalized programs.

Decision

No: not my specialty.

Why Investing/Passing

  1. No revenue, no product in the market, serving a niche field that I don’t know much about. I googled Illumina and found myself with more confusion than clarity when trying to understand this ecosystem.
  2. Burning 230k in 2017 then 384k in 2018 to build an app that doesn’t have revenues is an industry that I’m not comfortable.
  3. Fundamentally, while I believe that this may be a great product, I’m struggling to see how this becomes a great business. That said, if anyone can figure it out, it seems this team is it.

The 6 Calacanis Characteristics (91 161 18)

Passed on 2/6.

CheckPass/Fail
1. A startup that is based in SVPass: (San Francisco, CA)
2. Has at least 2 founders Fail
3. Has product in the market Fail
4. 6 months of continuous user growth or 6 months of revenue.Fail
5. Notable investors?Maybe?
6. Post-funding, will have 18 months of runway Pass: burn rate is $4.3k/mth, at $250k raise this is 58 months.

Burned 230k in 2017 then 384k in 2018. Monthly burn at present is 32k/month. At $178k already fundraised, this is 5.56 months, if they hit the 900k, that’s 28 months. That said, biotech seems like it’s always at risk of being a giant money sink.

Gali Financial Summary (Hosted link.)

The 7


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