Igor Marinelli, co-founder of Latin American industrial IoT startup Traction, discusses the company's early fundraising history with Nathan Latka.
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“We've raised 3.7 million bucks and in seed round that was a Y Cominator together with Soma Capital and other US funds.”
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More from Igor Marinelli
Insight
Marinelli: Installation Friction Prevents IoT From Becoming a Commodity
“IoT isn't that commodity that we think it is, especially because of installation time, setup time, and so on. So if you really nail down the hardware part, you can go to go to market more easily, and you can just have like more successful customers that are pa…”
Igor MarinelliJan 24, 2022▶ 7:40LATAM SaaS + IoT Grows 10x to $1.2m in ARR, $3.7m Round at $15m Valuation
Insight
Marinelli: Predicting industrial machine breakdowns requires combining software and hardware
“The only way really to do that is by combining software and hardware and just basically providing the best in class IOT that we can.”
Igor MarinelliJan 24, 2022▶ 3:32LATAM SaaS + IoT Grows 10x to $1.2m in ARR, $3.7m Round at $15m Valuation
Insight
Igor Marinelli: Capital Cannot Buy Product-Market Fit
“There's three things money can't buy friendship, love, and product market fit.”
Igor MarinelliJan 24, 2022▶ 1:52LATAM SaaS + IoT Grows 10x to $1.2m in ARR, $3.7m Round at $15m Valuation
AssertionNot checkable as stated
Marinelli: Traction sensor costs $100 to make with 2-4 month payback
“So the hardware nowadays, it costs a hundred dollars per unit and actually is a, it's a very good payback because we can, we're able to provide it as 45 dollars per month per century. So in terms of hardware payback, it's like two, 2.5 months, sometimes, somet…”
Igor MarinelliJan 24, 2022▶ 5:32LATAM SaaS + IoT Grows 10x to $1.2m in ARR, $3.7m Round at $15m Valuation
AssertionNot checkable as stated
Marinelli: Traction Targets 600,000 Potential Industrial Companies in Latin America
“We have, like, 300,000 In Brazil, summing up all Latin America, we have like 600,000 companies to achieve.”
Igor MarinelliJan 24, 2022▶ 15:46LATAM SaaS + IoT Grows 10x to $1.2m in ARR, $3.7m Round at $15m Valuation
AssertionNot checkable as stated
Marinelli: Embraer monitors all airplane manufacturing machinery with Traction
“So they monitor basically all the machinery that produces the airplane. So if you think about, there's a bunch of motors, engines, compressors, pumps turbines, generators all basically rotational machine. So I've done computer engineering, not mechanical engin…”
Igor MarinelliJan 24, 2022▶ 3:54LATAM SaaS + IoT Grows 10x to $1.2m in ARR, $3.7m Round at $15m Valuation
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