Name: What will Soundskrit do next?
Uploaded: 2022-07-20T13:16:24.214471+00:00
Duration: 2092 s
Channel: Adrian Hargrave
Description: Peter Goldberg asks the Soundskrit team why they pitched without being able to give so many details. The Soundskrit team were hoping the Board would take a risk, but they will go back to existing investors now to raise the remaining money

Peter Goldberg asks the Soundskrit team why they pitched without being able to give so many details. The Soundskrit team were hoping the Board would take a risk, but they will go back to existing investors now to raise the remaining money

Peter Goldberg asks the Soundskrit team why they pitched without being able to give so many details. The Soundskrit team were hoping the Board would take a risk, but they will go back to existing investors now to raise the remaining money

https://d3ev5earl6dvd0.cloudfront.net/public-media/videos/004/451/004451/video_XwVxQX3.mp4#t=484

Adrian Hargrave

What will Soundskrit do next?

Introduction to the Elevator Pitch Team

Pitch 1 - Soundskrit developed a new directional microphone that isolates your voice

Pitch 1 - The verdict on Soundskrit

The Board does not invest in Soundskrit

Pitch 2 - Kiri Toys Co-Founder Brandon Greenburg

Pitch 2 - Kiri; Sean and Kim want to hear more

Pitch 2 - Kiri in more detail

Pitch 2 - Kiri co-founders background and the investment need

Pitch 2 - Kiri: The Board's Verdict

Pitch 2 - Kiri, which offer will they take?

Pitch 3 - Swift Coat founder Peter Firth

Pitch 3 - Swift Coat: The Board's verdict

Pitch 3 - Swift Coat: The Board interrogates and makes an offer

Pitch 3 - Swift Coat accepts the offer

Pitch 4 - Strella Biotech co-founder Katherine Sizov

Pitch 4 - Strella Biotech: The Board decides if they want to hear more

Pitch 4 - Strella Biotech: The Board interrogates

Pitch 4 - Strella Biotech: The Board makes an offer

Pitch 4 - Strella Biotech: They take Marc's money

Don't miss a tense, new Elevator Pitch episode -- watch now!

It’s a new week, so you know what that means: An all NEW Elevator Pitch is here, and you won’t want to miss this week’s exciting episode. While the ascent to our boardroom of investors is high for our four startups, the stakes and tension have never been higher. 

Watch as entrepreneurs pitching food-waste, children’s education, noise-canceling technology and solar-panel companies race against the clock to impress our three investors. Who is able to strike a deal, and whose business proposal is declared a “waste of time” by our judges?  

This episode is powered by ASU's Innovation Open, an annual competition for the world’s top collegiate tech ventures. Each startup you'll see on this episode is a previous Innovation Open winner.  Learn more at ASU.io

Don't miss a tense, new Elevator Pitch episode -- watch now!It’s a new week, so you know what that means: An all NEW Elevator Pitch is here, and you won’t want to miss this week’s exciting episode. While the ascent to our boardroom of investors is high for our four startups, the stakes and tension have never been higher. Watch as entrepreneurs pitching food-waste, children’s education, noise-canceling technology and solar-panel companies race against the clock to impress our three investors. Who is able to strike a deal, and whose business proposal is declared a “waste of time” by our judges?  This episode is powered by ASU's Innovation Open, an annual competition for the world’s top collegiate tech ventures. Each startup you'll see on this episode is a previous Innovation Open winner.  Learn more at ASU.io

https://d3ev5earl6dvd0.cloudfront.net/public-media/videos/004/451/004451/video_XwVxQX3.mp4

Meet Kim Perell, Marc Randolph and Sean Neff

Soundskrit developed a new directional microphone that isolates your voice and cuts out unwanted noise giving you crystal clear audio in all of your consumer electronics. They are looking to raise $1 million to add to a $10-12 million series A round.

The Board likes the technology and the potential, but the Soundskrit team will not disclose the valuation for the proposed round, their strategic partners or their forecasts. Soundskrit say they have spoken with consumer electronics manufacturers, such as laptops and earbuds and the fundraise is to help them go into production.

Kiri is a non-screen learning system to teach kids new skills using AI and RFID. They are seeking $100K for 5% of the company. Modern educational toys are falling short of meeting children's needs, 90% are made of plastic and most of them have a limited life cycle in which the child is actively engaged in learning from the toy. Meet Kiri.

The Board is put to the vote - Sean and Kim want to hear more, Marc votes against but Brandon is invited in so Sean and Kim can find out if their kids can learn more without screens!

Kiri has three main elements: the block itself, a focus on very different subjects and multiple languages. So the child would play with the block by touching the block to a tile. So if we take the green tile here, for example, on one side it has the color or an image on the other side. It has the name green. If you touch it, it says green and it responds with in this instance, the green color.

We've done over 1000 tests with parents and children, with educators with professionals, including speech therapists. And we started out with the cube is a very nascent idea, but you can kind of build an entire ecosystem of this that even syncs up with other objects because this is bluetooth enabled. So we can usually down we can usually push to it. New technology and information and have it adapt.

My co-founders are a senior executive at a toy company and a Stanford Grad with an MBA. We are asking for a $2 million dollar valuation, we have raised $150K previously

Kim offers $50K at the valuation,  Shaun offers $100K at a $1m valuation

Kiri takes Shaun's offer of $100K for 10% of the company and Brandon explains why

Swift Coat has a nanotechnology based coating that uses UV light from the sun to clean solar panels. 30% of solar panel power is lost due to dirt. Swift Coat has been awarded $2.5 million in federal funding and is looking to raise $75,000 in exchange for 1%

The Board is put off by the small offer available, but Peter is invited in so Marc can hear more.

Swift Coat sells a version of razor and blades to the panel manufacturers - the hardware and the raw materials for coatings. Our $2.5m grant pays for product development, but we need $75,000 for sales and marketing. Marc Randolph makes and offer for $50,000

Peter Firth explains why he took the lower amount on offer and how Swift Coat will use the money to make solar energy more efficient and save the planet!

Strella biotech's proprietary sensors are changing the world by reducing food waste in the food supply chain. The technology provides shelf life food data for real time decision making

The Board discusses the opportunity and all three members decide that they want to hear more about Strella Biotech

Strella sensor is a device that measures ethylene gas and can predict whether or not your avocados are gonna be too hard or mushy. We are raising $20 million and have done a seed round for $3.3 million at a $9 million pre-money valuation

Kim passes as there is no firm valuation, Shaun offers $150K plus intros at the seed round valuation and Marc offers $75K at a 20% discount to the next round with a $100m valuation cap

Katherine explains why she took Marc Randolph's offer and how this will help drive Strella Biotech forward