Sundblad: Oden Technologies raises $28.5M round of equity, debt, and notes
Willem Sundblad · Embracing American Dynamism to Upgrade Manufacturing Production With Oden CEO Willem Sundblad · Sourcery with Molly O'Shea · Apr 19, 2024 · at 2:16
Willem Sundblad, co-founder and CEO of Oden Technologies, explains the structure and composition of Oden's Series B financing round.
0:00 / 0:11exact quote · 11.6s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“The total round is 28 and a half million. But that includes part debt facility, a little bit of convertible note but the biggest portion is newly issued equity.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Willem Sundblad
Sundblad: Pitching AI as operator craftsmanship works better than selling science
“I used to always say that we are trying to add science to it, but I've come to the realization that it's way more effective to say that we want to make it easier to become artists for these operators, because they are really amazing, and they've got so much do…”
Sundblad: Efficient production enables localized manufacturing instead of global offshoring
“And if we can make it efficiently, we can make it close to where it should be consumed and we shouldn't just be shipping it off to wherever it's cheapest in the world.”
Sundblad: Factory operator training takes three months with 50% completion rate
“Oftentimes like a ramp period for a new operator is at least three months. And they very often have like a 50% success rate of that training program in that 50% even end up starting the job in the first place.”
Sundblad: Many manufacturing plants face 70% factory floor turnover
“A lot of them have 70%, you know, year over year turnover on the factory floor, or at least 70% if you look at it on a 24 month cycle.”
Sundblad: Vertical focus standardizes industrial software integrations versus broad manufacturing approaches
“And also by being vertically focused on a couple of key verticals, you end up with a lot more standardization on like the technology that we're integrating with. So like, if you go after paper as one industry, they tend to look very similar and they tend to ha…”