Disclosure certainty 4/5 debate potential 1/5

Patel: Jiva.ai closed a £1.3M seed round with institutional investors

Manish Patel · Jiva burning $50k/mo after raising $1.3m Seed, Plan to Turn POC's into Paid Accounts · Nov 29, 2021 · at 6:45

Manish Patel, founder and CEO of Jiva.ai, breaks down the terms and valuation of the company's institutional seed round to Nathan Latka.

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“Then just recently closed a 1.3 million round with institutional investors.”

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Prediction Not checkable as stated
Patel: Jiva.ai will convert three paying customers next month
“Next month, three.”
Manish Patel Nov 29, 2021 ▶ 9:26 Jiva burning $50k/mo after raising $1.3m Seed, Plan to Turn POC's into Paid Accounts
Opinion
Patel: Hiring experienced staff over junior people turned Jiva.ai's fortunes
“And as an early stage business, I think that was a really important decision to get experience rather than junior people at the beginning. And I think that's what's actually turned the company's fortunes over the last. 18 months over COVID”
Manish Patel Nov 29, 2021 ▶ 12:27 Jiva burning $50k/mo after raising $1.3m Seed, Plan to Turn POC's into Paid Accounts
Assertion Supported
Patel: Jiva.ai built prostate cancer, liver disease, and bone fracture diagnostics
“We've got a prostate cancer diagnostic We've got our liver disease diagnostic. we've previously created bone fracture diagnostics as well.”
Manish Patel Nov 29, 2021 ▶ 3:12 Jiva burning $50k/mo after raising $1.3m Seed, Plan to Turn POC's into Paid Accounts
Assertion Not checkable as stated
Patel: Jiva.ai average subscription price is £3,000 to £4,000 monthly
“More three to 4000 would be a good average.”
Manish Patel Nov 29, 2021 ▶ 4:00 Jiva burning $50k/mo after raising $1.3m Seed, Plan to Turn POC's into Paid Accounts
Assertion Not checkable as stated
Patel: Jiva.ai currently has zero paying customers
“So zero right now.”
Manish Patel Nov 29, 2021 ▶ 9:24 Jiva burning $50k/mo after raising $1.3m Seed, Plan to Turn POC's into Paid Accounts
Assertion Not checkable as stated
Patel: Jiva.ai's monthly burn rate does not exceed £100k
“It varies because we have some regulatory work that we're doing and that's quite sporadic, but it won't go over a hundred K put it that way.”
Manish Patel Nov 29, 2021 ▶ 11:56 Jiva burning $50k/mo after raising $1.3m Seed, Plan to Turn POC's into Paid Accounts
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