TeleSense

“You have to deliver something about one-fourth to one-fifth the alternative cost in a way that people can use it.”

“The business model worked, and it was fragmented, and then that allowed me to build a story, and that allowed me to raise six and a half million dollars. And not just the money, but look at the investors. We got the world's largest transportation company, Maer…”

“No, no, this is three to 5000 is a system with like 10 to 20 balls, a gateway, all that stuff. So today is one third the cost of alternatives.”

“So right now we do charge for hardware. At least we don't want to lose money on hardware, but as we bring the price point down, which we think we can do that by five X in the next two years, then you pretty much will give over the hardware for free and the har…”

“It took me three years to find out the right use case in IOT, Internet of Things. And grain seemed to be the right place with A very easy, competitive landscape.”

“Phosphine is the fuming and which eats copper. So if you have copper in your design, it's going to be rotted.”

“Where I want to get to in about two years, the thousand dollars is for the hardware and 4000 for the subscription.”

“I always do paid pilots, I don't do free pilots. Because I want skin in the game from both sides.”

“See today, if you want to, if you have vertical silos, you have cables hanging, which can tell the temperature inside. They cost anywhere from 10 to 30,000 dollars per bin. Only about 20 to 30% of the facilities in the world has anything like this.”

“30 to 50%, and this again will get better as more predictive analytics, more AI gets into the product.”

“Today, you're paying about a thousand dollars a year, and on a subscription basis, and 4000 for the hardware.”

“No, we bootstrapped, I mean, we, I raised a small round of 800 K, but 600 of 800 was my own money.”

“If you design your own own module, when you don't buy the module, you buy the chips. You, right now, you go from a hundred dollars to a 10 dollar version.”

“No, no, that's about accurate. I mean, it's of course spread over nothing. It's all did not happen a single year, but yes. It's accurate.”

“No, we are going to be raising this year about fifteen million.”

“We set up two dealers already. Idea is to set up 20 dealers, bring the CAC down, customer acquisition costs, people who may not know CAC.”

“With 44 people, it's more than that.”

“Same thing in Haymarket. We started with one example. Now they have placed the order for several hundred units. We did not even know rice was a problem. We did experiment with a pilot with one company, and now they're just expanding to, like, 46 locations.”

“Going after the much larger customers, because we found out the sales cycle is about the same. Might as well focus on the large enterprise customers.”

“So this device we sell for about four to 500 dollars, depending on the quantity.”

“And churn rate in this case is extremely slow, and two or three people who churn, they either sold the business, got out of it, Or nobody has abandoned a product or got anybody else's because nobody else quite does what we do.”

“I am lining up additional funding from our investors to extend our runway into the next year. So we have plenty of time to raise money and we're not sort of hurrying it up.”

“It's 40% of what they paid for hardware typically.”

“Each, yeah, approximately one is like one 10, one is one 70, so approximately one 50.”

“We'll break it before Christmas.”

“So I think currently if I have to compute, you know, how much I'm paying my five guys And how many sales are they bringing in so that I can compute a CAC? It's probably going to be, you know, five or 10,000 dollars per large customer, which is probably higher …”

“You have to not tell them, show them a chart with a bunch of numbers. That, what do they do with this? Nothing. But you need an actionable insight. So we are going to deliver something which they don't have today, such as turn on the fan on, on a pile, a silo …”

“Well, everybody's paying for the software component. So today we have about 400 customers now.”

“So grain, once you harvest it and store it, never improves in quality. It goes downhill.”

“So we have five quota carrying sales reps.”

“Now, the thing which is interesting in dynamics in the market is we are selling to growers and grain cooperatives. They're not used to recurring revenue or paying recurring fees. So this is a new concept which they are just getting comfortable with and some ar…”

“So we decided to apply that to the grain industry and we are sort of the first one to get there.”