Physna raised its initial $2M as common stock from angel investors
Paul Powers · Physna Raises $7m More for Geometric Deep Learning in 3d · Mar 25, 2021 · at 15:23
Paul Powers, founder of Physna, explains why the company chose straight common stock equity over venture debt for its early fundraising.
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“With the people being high net worth individuals who are investing, we've kind of chosen to kind of keep it simple and equity just seemed to be the simplest option. Just straight up common stock.”
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More from Paul Powers
Powers: Physna will hit at least $5M ARR by end of 2019
“We should be at least at about five million recurring annual revenue at the end of 2019.”
Legacy 3D tech relies on 2D methods, lacking native 3D understanding
“We realized that nothing was actually built to understand three D from a three D perspective. Everything was just a two D technology like point cloud or whatever, trying to understand three D.”
Powers: Physna delivers a 15-to-1 ROI, saving $37,440 per user annually
“We saved the average customer 37,440 dollars per user per year that they're with us but the average cost per user is going to be 2500, so it's a 15 to one ratio of savings to cost.”
Powers: Pre-Physna tech failed to analyze 3D models natively
“We realized that nothing was actually built to understand three D from a three D perspective. Everything was just a two D technology like point cloud or whatever, trying to understand three D.”