Deal Abstract

Self-care AI med-tech platform and glucometer that enables people to manage their own diabetes.

New AI and better designed glucometer.

Financials (VRB)

Question Notes
1. Fundraising Target? $3000000
2. Fundraised So Far? $1967638
3. Pre-Money Valuation? $25000000
4. Previous Year's Annual Revenue $28684
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-1651287

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? False: Los Angeles, CA
2. Has at least 2 founders? False: Two
3. Has product in the market? True: Revenue generating
4. 6 months of continuous user growth or 6 months of revenue? True: Though growth very modest
5. Notable investors? False: No one I recognize
6. Post-funding, will have 18 months of runway? True: But needs to raise full amount

The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)

Question Score Notes
1. Engineering? 2 Better engineering than normal blood lancet, but not 10x better imo
2. Timing? 1 No reason to believe now is right time for this business
3. Monopoly? 1 Super low revenue
4. People? 3 Def right people for this business
5. Distribution? 1 D2C and through retailers
6. Durability? 2 I guess the data is proprietary? But not much else
7. Secret? 1 Pops design innovation is going to tap into a venture sized market of diabetics

What has to go right for the startup to return money on investment:

1. Sell more devices; 2. Monetize more than just hardware; 3. Innovate more heavily instead of marginal improvements

What the Risks Are

1. Good products don't make for good businesses; 2. Market too small; 3. Improvement is marginal

Bonus Muhan's Notes

I've used Keto Mojo to measure my blood and ketones before; not sure how this device is that much better. Not to mention, where's the recurring revenue?


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