Fonseca: Agtech startup has a monthly burn rate of roughly $20,000
Bruno Fonseca · 1590 Why Farmes Are Buying This $1000 IoT Device to Increase Crop Yield · Dec 1, 2019 · at 12:31
Bruno Fonseca, founder and CEO of a Portuguese agtech startup, shares his company's operational burn rate with Nathan Latka.
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“So the burn rate is of about 20, 20 K per month.”
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More from Bruno Fonseca
Fonseca: Hardware sells for €1,000 upfront plus €200 annual SaaS fee
“We charge the Stuk, the IoT device, a one-time fee of a price of 101,000 euros.
And then we will charge also the customer for software fee, annual fee of 200 euros per year per each sensor.”
Fonseca: Stuk IoT sensor production costs roughly €450 per unit
“Until now, the production cost is more or less for 150 euros per sensor.”
Fonseca: Startup pays channel partners a 35% cut of software revenue
“And then we are also sharing the percentage over the software fee. The recurring revenue model. At 35%. So it's more or less 70 euros per each fee.”