Opinion
Oura's core challenge is being a vitamin, not a painkiller, says Sanchez
“One, I think the hardest problem that Aura's had is that it's a little bit of a vitamin and not a painkiller per se, because it's preventive health.”
Assertion Not checkable as stated
Oura's smart ring competitors failed by going direct-to-consumer, says Sanchez
“There were about 30 other companies that tried doing something similar, or as the only survivor, because all of them tried to go direct to consumer.”
Assertion Not checkable as stated
Lotus has one signed customer and is otherwise pre-revenue
“We have one signed customer, actually they've even given us a 50% deposit, and so we have some booked revenue, but primarily we're pre-product, pre-revenue.”
Assertion Not checkable as stated
Lotus hardware supply chain turnaround is 1.5 months
“Our supply chain right now timing is about a month and a half... To go from complete design on paper to end units in hand.”
Assertion Not checkable as stated
Lotus projects 75% gross margins at 10,000 units
“At that price point, if we only built a thousand units, our gross margin is 64%. And if we build 10,000 units, which is actually what the state of New York wants, It's 75%”
Assertion Not checkable as stated
Lotus secured 14 pilot programs in 30 days
“We've got 14 pilots in just 30 days.”
Assertion Supported
Lotus smart ring requires charging once every 90 days
“And so instead of charging it every day like an Apple Watch, or every three days like an Aura Ring, you only need to charge once every 90 days.”
Disclosure
Lotus raised $225k at a $14M post-money valuation cap
“The total we've raised to date is four 25. In this specific round, in just the past couple of weeks, we raised two 25 K. That, that money was an offer that we got that came in at a fourteen million post-money valuation cap.”
Assertion Not checkable as stated
Lotus has five signed LOIs, five verbal commitments, and 12 in pipeline
“We have five signed LOIs and five verbal commitments, and then another 12 in the pipeline.”
Disclosure
Lotus seed round is oversubscribed
“As of right now, as of this moment, we are oversubscribed.”
Assertion Not checkable as stated
Lotus received a new investment commitment every day for a week
“And that's exactly what happened for the past one week. I've been getting a commitment every day. One check a day. And the check sizes have been increasing in size, not decreasing.”
