Disclosure certainty 4/5 debate potential 1/5

Lab Sensor Solutions raised $420,000 for its seed round

Jari Bolander · Stress Free Way to Launch Startup In Red Tape Industries with Jarie Bolander of Lab Sensor Solutions · Jan 19, 2016 · at 5:56

Jari Bolander, co-founder and COO of Lab Sensor Solutions, details his startup's early fundraising to host Nathan Latka.

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“We raised 420 K. Okay.”

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More from Jari Bolander

Assertion Not checkable as stated
Lab Sensor Solutions operates with gross margins above 85 percent
“Above 85%.”
Jari Bolander Jan 19, 2016 ▶ 4:58 Stress Free Way to Launch Startup In Red Tape Industries with Jarie Bolander of Lab Sensor Solutions
Prediction Not checkable as stated
Bolander expects seven customer trials to convert into 1,700 deployed sensors
“So, the, those trials that I talked with you about, those are roughly gonna be, when they convert, about 1700 sensors, roughly, you know, give or take.”
Jari Bolander Jan 19, 2016 ▶ 9:32 Stress Free Way to Launch Startup In Red Tape Industries with Jarie Bolander of Lab Sensor Solutions
Disclosure
Lab Sensor Solutions split equity equally among its five co-founders
“Well, for us, we split it all equally.”
Jari Bolander Jan 19, 2016 ▶ 3:08 Stress Free Way to Launch Startup In Red Tape Industries with Jarie Bolander of Lab Sensor Solutions
Disclosure
Lab Sensor Solutions founders vest equity over four years without a cliff
“For founders, no, there wasn't. For normal, you know, normal options, there is a cliff.”
Jari Bolander Jan 19, 2016 ▶ 4:10 Stress Free Way to Launch Startup In Red Tape Industries with Jarie Bolander of Lab Sensor Solutions
Disclosure
Lab Sensor Solutions charges $25 per month per sensor
“Each sensor that we place to monitor is, 25 dollars per month per sensor. and that includes the full platform.”
Jari Bolander Jan 19, 2016 ▶ 7:05 Stress Free Way to Launch Startup In Red Tape Industries with Jarie Bolander of Lab Sensor Solutions
Disclosure
Lab Sensor Solutions has 3 paying customers and 7 lab trials
“We've got, you know, three labs that are our customers right now. we've got seven more, what are called in trials.”
Jari Bolander Jan 19, 2016 ▶ 7:51 Stress Free Way to Launch Startup In Red Tape Industries with Jarie Bolander of Lab Sensor Solutions
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