Company Overview

Brief: Rentberry is here to bring the rental process into the 21st century. The Rentberry platform isa two-sided marketplace that connects landlords and renters. Through an auction process, landlords can secure good rental prices and collect rent payments virtually. On the tenant side, users can take virtual tours of prospective locations and eSign all necessary documents. Rentberry works on a freemium revenue model with revenues from enterprise clients, sale of insurance products, and other platforms under the Rentberry umbrella.

Key People: Founder and CEO Oleksiy Lubinsky (repeat founder, former investment banking executive), Head of Design Alex Kot (also founder and CEO of startup Floorly), CMO Oleksii (Alex) Humeniuk (SEO specialist).

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Terms

Security Type: Equity - Common

Valuation: $25,000,000

Amount Raised: $11,576,858

Minimum Investment: $300

Takeaway

Here's what I like: This is SUCH an obvious problem. Renting (anything) is such a pain in the ass that I don’t even want to get into it -- you already know. While I think the founding team is fantastic and has all the core competencies needed to win… it’s the solution and traction that had me at hello!

For starters, Rentberry has processed nearly 20 million rental properties, with more than 700,000 users 👀. What's more, the product is fully automated.

For once, both the tenant and landlord can win.

This reminds me of a Chicago startup called Rentgrata that has been absolutely crushing since 2018 by enabling renters to earn rent credits by referring new tenants.

The rental experience is so bad. Rentberry (like Rentgrata) makes it immediately and infinitely better just by being in existence!

Here's what I don't love: Real Estate Tech (or PropTech) is a deceptive space. Even after major disruptors like Opendoor, Redfin and Second Avenue entered the space, it’s still largely dominated by the same massive financial institutions. And while the addressable market is huge -- where even niche companies can make billions -- if you peel back the cap table layers, you’ll begin to see the same familiar faces!

With all that said, my primary concern is that if the team is not well-networked with the powers that be, I’m not sure that being a first-mover in the space offers much of a moat. Especially since competitors like Zillow, Trulia (a Zillow subsidiary),Move, Auction.com, and CoStar are all already providing similar services.

Who should invest and why: The real estate/rental space is a great entry point for new investors because most everyone has at least some experience either buying or renting properties. And a $300 minimum investment makes this even more accessible.

Rentberry is raising funds at a pre-money valuation of $25M, up from $9M just a year ago. Presumably, this increase reflects significant platform growth. However, from a revenue perspective, the multiple is still pretty insane at nearly 800x!

The company has raised $13M to date (burning about $1.3M last year) with $2.3M remaining. So, my decision (at this price) would be based mostly on whether or not the team can continue funding growth long enough to fully realize its potential.

As always, startup investing is super high-risk, and anything can happen. Don't invest anything you can't afford to lose.

Invest in Rentberry here 👉 Term Sheet

DM’s open on Twitter & IG 🤳 @kitun.

Company Overview

Brief: Toast is a national cannabis brand known for its cannabis pre-rolls called the Joint 2.0. The potency varies across products, from micro-dosed CBD+THC to high-potency THC. Toast has reported total sales of $12 million since inception with a projected growth rate of 100% over the coming years.

Key People: Co-founder and CEO Punit Seth (Bridgewater Associates and Accenture), Co-founder and COO Shovahn Rincón (10+ years as senior manager at Accenture), Co-founder and Executive Chairman Chris Burggraeve (Global CMO Anheuser-Busch, Coca-Cola, Procter & Gamble).

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Terms

Security Type: Crowd SAFE

Valuation: $20,000,000

Amount Raised: $276,774

Minimum Investment: $100

Takeaway

Here's what I like: The Toast leadership team is stacked, beginning with former global CMO of Anheuser-Busch, Chris Burggraeve, who is involved as co-founder and executive chairman. Additionally, the remaining co-founders (including CEO Punit Seth) come from Accenture.

This matters because despite what you might think, prior cannabis experience has proven to be relatively insignificant. The biggest factors for Toast will be managing margins, navigating regulations, and creating brand value. And this leadership team has the right experience to address these needs.

Last and most notably, the TAM [total addressable market] is HUGE!

Here's what I don't love: I have to at least mention the regulatory risk. While I personally believe cannabis, like gambling, is too big of a financial opportunity to not become mainstream — there is always the risk that Uncle Sam does not agree.

Beyond legalization, my only nitpick here is Toast’s ability to differentiate. While I absolutely love the packaging, the entry level Joint 2.0 concept, and overall “affordable luxury” brand vision… nothing is stopping a future competitor (i.e. Coke v. Pepsi) from entering the market.

That said, ask Jony Ive what great design can do for a brand’s moat!!

Who should invest and why: Cannabis is still hotly debated — those that do not partake tend to have strong feelings about those who do. However, if you indulge in cannabis use, it probably goes without saying that Toast could be a fantastic opportunity to invest in the upside of a rapidly growing category, while at the same time backing a product you might actually love (win, win!).

As for price, it’s probably a tad high for Toast’s current level of traction.

The company generated $1.3 million in revenue last year (a 15x revenue-to-valuation multiple). But relative to the market opportunity, leadership team’s experience, and the fact it managed to nearly double revenue from 2020 while simultaneously cutting expenses by more than 2.5x — I’m actually pretty neutral on valuation.

As always, startup investing is super high-risk, and anything can happen. Don't invest anything you can't afford to lose.

Invest in Toast here 👉 Term Sheet

DM’s open on Twitter & IG 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Company Overview

Brief: Founded in 2015, Blendid is a food automation company that currently develops autonomous smoothie kiosks, with plans to offer an array of foods with robotics. The company uses artificial intelligence and a mobile ordering app to track customers' taste and preferences. Blendid already has kiosks deployed at select Walmart locations and plans to expand aggressively.

Key People: Co-founder and CEO Vipin Jain (CEO of Retrevo before acquired by Barns & Noble), Co-founder and CTO Venki Ayalur (Barnes & Noble Nook and Motorola Mobile), Co-founder & VP of Engineering Vijay Dodd (28 years in hardware and software, AT&T, Palm and Barnes & Noble Nook)

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Terms

Security Type: Equity - Preferred

Valuation: $78,321,576 

Amount Raised: $753,980

Minimum Investment: $999 

Takeaway

Here's what I like: Look, this is easy as pie. Food automation being a key part of every fast-casual model over the next 10 years is 1,000% inevitable.

Actually, it’s already a $4bn market, with a 13% CAGR (compound annual growth rate).

When McDonald’s intro’d kiosks people freaked out — then, immediately forgot they cared. For a hot minute people complained that robots were stealing jobs. But, when the pandemic hit and countless restaurants closed because they couldn’t find decent help (or afford it), the idea became novel.

This is the future, and it’s completely OK. In fact, I’d argue for the right space and place, it’s preferred! The market is poised to grow exponentially over the next decade and I would argue it will actually push the restaurant industry forward in a way it desperately needs.

Additionally, as our population grows and environmental issues soar, food tech can play a massive role in controlling food waste and making healthy’ish meals more accessible by controlling portions, reducing labor costs and required real estate.

Remember the term “food factory” for later 😉

Lastly, while the founding team is not overly experienced in food, they are tremendously successful at building hardware and scaling a business to exit — which in the case of Blendid, is what I care about most.

Here's what I don't love: I have only two nits to pick here: a) the price is steep given it generated less than $300k in 2021 revenue (up from $65k the year prior). b) how the market matures.

First, I understand the price must factor into the cost of getting hardware into production, testing and approval (more on this later). It’s a big multiple that requires a $1 billion exit to pay out anything meaningful — which is why we’re all here.

Secondly, the food robotics business reminds me of medical sales. There’s near-constant R&D costs, testing, repairs and regulatory approval requirements, to say nothing of the fact that only a few major players (like Stryker in the medical industry) will dominate the space. Needless to say, there’s a lot of politics involved. So, unless the company has accounted for heavy lobbying and sales, they’re in for a rude awakening. I wish it was as simple as the best product wins, but it just isn’t.

Overall, I can mostly overlook the price given the potential TAM, but I do worry about the competitive nature of selling into established brands.

That said, the stickiness is like Gorilla Glue! First-movers benefit from the install cost/pain-in-the-ass factor, and that’s a significant moat (just ask Miso Robotics).

Who should invest and why: If you like emerging markets, this should be on your radar! Also (and it probably should’ve been mentioned above), there’s a bunch of high-margin revenue opportunites in tacking on software, maintenance and equipment leasing add-ons that enables companies like Blendid to capture an additional 20-30% in topline revenue over time.

Also, keep in mind, Blendid’s entry point is smoothies, but it plans to move into numerous other food categories.

Overall, this is a business that checks a few of my most important boxes:

✅ Inevitable

✅ Founders

✅ TAM

✅ Sticky

What’s missing however, is an unfair advantage and a price that rewards the bold 😏

Also important to note, minimum investment is about $1k. But, it is preferred equity rather than a note — which, as you know, I much prefer.

In the end, this is a more attractive deal for those that typically invest a few thousand vs a few hundred. It may take a while to see ROI, but there is no question several of these food automation companies are going to score big!!

The question is, will Blendid be one of them?

As always, startup investing is super high-risk, and anything can happen. Don't invest anything you can't afford to lose.

Invest in Blendid here 👉 Term Sheet

DM’s open on Twitter & IG 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Hoping you’re all off to a great week!

I’m excited to share over at Kingscrowd we’re very close to launching our second newsletter called Monday Memo that includes a whole host of stuff — from new deals and staff picks to founder profiles and market trends!

Better yet, it’s free! All you have to do is create an account here.

Company Overview

Brief: Asserta Health has built a healthcare payment utility that helps people with insurance pay for services at the time healthcare is delivered without the need for claims later. The payment infrastructure of Asserta Health, medEcash, enables patients and employers to know the price of healthcare in advance and pay the providers in real time. 

Key People: CEO Korb Matosich (oversaw multiple businesses at UnitedHealth Group, former CEO of AAPC), Chief Medical Officer Lisa Behnke, MD (12 years of experience at UnitedHealth Group), CTO David Hersom

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Terms

View on Republic: Term Sheet

Security Type: Equity - Common

Valuation: $22,078,676 

Amount Raised: $153,241

Minimum Investment: $246.45 

Takeaway

Here's what I like: As much as 25% of all healthcare costs come from administrative work. The amount of money wasted is absurd, and if you’ve ever “negotiated” your payment plan for a procedure, you already know it goes something like an episode of Pawn Stars.

Asserta is basically enabling patients to pay for medical services like they do for literally everything else they purchase. It’s as simple as that.

I also think this team is phenomenal. In most startups you look for people with a Goldilocks amount of industry experience -- enough that they know what they're doing, but not so much that they struggle to be disruptive. But in insurance and healthcare, it tends to be the opposite. Founders need enough reps to deeply understand why the system is broken. The Asserta Health team brings that level of expertise.

Last but not least, I love the price at just over $22 million. Given the total addressable market (TAM) and team, this is a great value pick IMO.

Here's what I don't love: There is literally only one thing that I struggle with and that is how Asserta differentiates over time. By all accounts the tech is strong, and the company has real revenue -- $2 million in 2021 revenue after processing more than $40 million in transactions.

The reality is with any market opportunity this big, there will be a million competitors. And it's impossible to predict how our opaque medical system will choose a particular product over another. My limited sense is that much of it is driven by networking and speed to market. And there's very little stopping a beast like Stripe from entering.

Who should invest and why: As was the case with my investment in Elemeno Health a while back, healthcare ain’t my bag, but my personal experience as an annoyed patient (victim??) was enough reason for me to put in. The same applies here with Asserta -- if you’ve ever been on the wrong end of a billing dispute with the doctor's office, I’d urge you to consider this deal.

Beyond that, the team is as good as it gets, there's real revenue, and the price (and minimum) is incredibly fair. This deal is actually as close to a no-brainer as you’ll see online!

As always, startup investing is super high-risk, and anything can happen. Don't invest anything you can't afford to lose.

Invest in Asserta Health here 👉 Term Sheet

DM’s open on Twitter & IG 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

So, this is a fun one (not that all my pitch reviews aren’t 🤷‍♂️), but I know the founder Gabe very well — actually I was an advisor for a short period. With that, there is of course some pressure to be both fair and unbiased. I shall do my best!

In other news, Songfinch just crossed a massive milestone that we cannot wait to share in the coming weeks 🤑

It’s incredible to write these pitch reviews with a different lens as a founder working to scale a D2C business in these wild times. I only hope that it helps me provide you all with even better insight into the probability of success of the many companies I am fortunate enough to review!

Company Overview

Brief: Fluent Forever uses a personalized approach to help people learn languages. Fluent Forever’s app and coaching are based on neuroscience and designed to help people remember a language for the long-term. Gabriel Wyner founded Fluent Forever in April 2018 and previously raised $1.7 million between crowdfunding platforms Kickstarter and Indiegogo.

Key People: CEO Gabriel Wyner (his 2014 book Fluent Forever is a WSJ and USA Today bestseller), CTO John Rush (25 years of experience at Microsoft, Google, and Intel)

Subscribe to Edge for Fluent Forever’s rated company profile 👉 Check the Charts 📈 

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Terms

View on Republic: Term Sheet

Security Type: Crowd SAFE

Valuation: $35,000,000 

Amount Raised: $245,762

Minimum Investment: $150 

Takeaway

Here's what I like: This is easy. Gabe is one of the most passionate and driven founders I’ve ever met. As I mentioned above, I was an advisor for a short period and I do not spend my time on people that are not as committed to winning as Gabe is!

Secondly, I’ve never seen an approach to language-learning like Fluent Forever.

I’ve interviewed or reviewed no less than 7 pitches from language-solving founders and Fluent Forever (I’ll call it FF for short) was by far the one that stood out. If you don’t believe me just read Gabe’s book or watch his Ted Talk. If that doesn’t convince you that his approach to learning a new language is different, nothing I say from here-on will.

Speaking of Gabe, he is dynamic and driven like nobody else I know..like annoyingly so (sorry Gabe). At this stage, 90% of the bet is on the founder and he is one I will vouch for every time and never look back.

Lastly, the business is more versatile than it might appear. D2C is the core, but there is 100% an opportunity to sell direct to businesses that operate globally. And, if FF can crack that D2B2C market, there are no shortage of massive language and edu companies that are in desperate need of a curveball to stave off all the upstarts.

If FF gets it right, they’re an acquisition waiting to happen.

Here's what I don't love: If I am being honest, the reason I hesitated back when he asked me to advise was because nobody has fully cracked the code on this. Not because of demand or technical needs… simply put, people are fucking lazy. Like a diet or exercise tool, people quit when the going gets tough. And in my mind, there are few things on Earth more intimidating than learning a new language.

Gabe and FF cracked the code IMO by creating a simple, repetition-based model that gets you to think in a new language vs memorization. Which, as it turns out, actually increases the speed to fluidity. That said, I am not big on betting on humans to do the right thing (sorry if that comes off pessimistic). It’s just a reality of selling D2C or even D2B2C. People are unreliable.

So with dozens of competitors in the space, the bet is that Gabe and his team can rise above it and get this product in the hands of millions of people.

Who should invest and why: Here’s the deal — if I am betting on a founder, I’d always bet on Gabe. But, it’s never that simple. Additionally, the product is fantastic… even space cadet Scott was able to learn some shit. But, I’d be lying if I didn't say it’s an uphill battle. Now… for the insider info!

I have received just about every investor update Gabe has ever sent. He doesn’t miss a deadline (EVER). Good, bad or ugly, he shoots it straight. I respect that a lot. It’s a rarity in the “business dude lorem ipsum” world we currently inhabit.

As for those updates, I’m sworn to secrecy, but I can share that he has managed the team and dollars like a pro. During peak Covid, business was booming and he didn’t over-hire or miss the opportunity to scale exponentially, nor did he fail to cut weight and level-set once we hit choppy market waters.

To me, that is the best sign of a star operator.

So, if you are interested in learning a new language, invest and give it a try, you won’t regret it — besides minimums are low ($150) and there’s plenty of free perks. As for a HUGE outcome, TBD. The market is sufficient and the product clearly differentiates itself… but it’s still an uphill battle with startup comps like Toucan out there lurking.

In the end, there can be many winners and Fluent Forever has as good of a shot as anyone to cross the finish line.

As always, startup investing is super high-risk, and anything can happen. Don't invest anything you can't afford to lose.

Invest in Fluent Forever here 👉 Term Sheet

DM’s open on Twitter & IG 🤳 @kitun.

Company Overview

Brief: Revel Energy develops custom renewable energy systems for commercial businesses. Revel’s offerings include commercial rooftop solar systems, carport solar systems, LED lighting installation, and other energy-related services. After being founded in 2017, the company is growing fast with 228% in reported revenue growth from 2018 to 2021. 

Key People: Co-founder andCEO Alan H. Lee, co-founder and Vice President of Operations Paul Bakhoum.

Subscribe to Edge for Revel Energy’s full company profile 👉 Check the Charts 📈 

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Terms

View on StartEngine: Term Sheet

Security Type: Common Equity

Valuation: $40,000,000

Amount Raised: $32,514

Minimum Investment: $496.92

Takeaway

Here's what I like: Non-renewable sources make up 80% of grid electricity in the US. Those non-renewables -- like coal and natural gas --  contribute to climate change. That represents an incredible opportunity for early investors (and for the climate). Score one for TAM ✅

What I like most about this deal (other than market size) is the fact that it’s priced remarkably fair at just under $40 million -- less than 4x of Revel Energy's revenue in 2021. Additionally, I prefer investing in deals that involve stock purchase over investing in a capped note... There is just something about knowing my position at the close of a round that makes me feel good.

Lastly, Revel Energy has actual revenue, generating $12 million in 2021. And it did so profitably! That's a rare bird by modern startup standards.

Here's what I don't love: While I love the significant revenue numbers in both 2020 and 2021, Revel Energy’s growth rate fell below the 21.7% solar market growth rate over the same period. This doesn’t spell doom, but it will only get more challenging to maintain growth as new entrants join an already crowded market.

Beyond this, the only real nit-to-pick is with the team’s experience. First, I’d like to see more tech muscle, despite the fact Revel Energy is a general contractor more-so than a tech solution. Secondly, Revel Energy’s CEO Alan Lee previously started ecoSolargy. That company currently does not have an active website, and what few reviews I could find for it were mostly negative. 🤷‍♂️

That said, just because a past company didn’t succeed doesn't mean the next one won’t. And you have to appreciate the years of experience both Alan Lee and his co-founder Paul Bakhoum (also a former exec at ecoSolargy) have in the renewables space.

Who should invest and why: The investment opportunity in renewable energy is massive -- there’s literally a new energy fund popping up every few weeks and it’s no surprise why. Between cost savings and tax credits, large organizations and commercial developers stand to generate billions in potential revenue.

What’s more -- depending on what news channel you watch -- renewable energy is good for the environment! (Sorry, I couldn’t help myself.)

Given that this deal is for equity and has minimums nearing $500, this might be an aggressive deal for a first-time investor. But if you’ve invested in startups before and see the tremendous upside Revel Energy has, this could be a strong contender!

As always, startup investing is super high-risk, and anything can happen. Don't invest anything you can't afford to lose.

Invest in Revel Energy here 👉 Term Sheet

DM’s open on Twitter 🤳 @kitun.

It’s no coincidence that the same 20 venture firms make the Midas list every year!

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— Josh Kaplan, Edge Pro member since August 2021

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Company Overview

Brief: Gryphon offers a cloud-managed, network-based protection service platform against cyber threats. The system comes with a high-performance Wi-Fi system, a simple app, and comprehensive network security across multiple devices. Gryphon Online Safety has generated $7.8 million in total sales and shipped more than 50,000 units.

Key People: CEO John Wu (one of the inventors of the MiFi personal hotspot), CTO Arup Bhattacharya

Subscribe to Edge for Gryphon’s full investment report 👉 Check the Charts 📈 

Terms

View on Republic: Term Sheet

Security Type: Crowd SAFE

Valuation: $35,000,000 

Amount Raised: $125,761

Minimum Investment: $250 

*Bonus: Listen to my podcast interview with Gryphon founder John Wu, here.

Takeaway

Here's what I like: If you thought cybersecurity was a buzzword a few years ago, just wait until everyone is running around with connected wallets while trading sensitive work materials via DMs… oh wait 🤦‍♂️

Like it or not, the future of in-home cybersecurity looks a lot like taking our shoes off when we enter the house or washing our hands before dinner. The more our digital world melds with the analog, the more vital it is for products like Gryphon routers to exist.

Also, how could you not like that its founder was one of the inventors of MiFi??? He’s literally been innovating in the mobile data space since the beginning.

Lastly, I am a huge fan of simplification. At its core, that is what Gryphon offers — a simple-to-use app paired with a cloud-based security network that is also the source of the Wi-Fi which all devices connect to. A single source digital moat for your home!

Here's what I don't love: Honestly, my main nitpick here is that I have a love/hate relationship with hardware. I love incredible products like Whoop. But for every Whoop we get, there are about 100 absolute bombs. Product innovation in hardware is particularly rough because unlike SaaS where you can easily pivot in functionality (with zero inventory), hardware is expensive to build, refine, store, and ship.

Gryphon not only has to compete with similar products, but also compete against itself by predicting demand and manufacturing responsibly.

Beyond my hardware hangups, cyber-security is an extremely complicated market for any company to target. With new threats appearing daily, you've gotta be ready to change on a dime. To say nothing of the fact that device makers like Apple are constantly pushing new products and updates that need to work seamlessly with network protections.

Who should invest and why: Overall I think this is a pretty low risk opportunity (as far as startups go) given the founding team’s experience, early traction, and relatively fair price at $35 million. Because Gryphon is not overpriced and holds numerous patents on its technology, even a “bad” outcome will more likely be acquisition vs a total bust.

Despite my hardware issues, there is at least one positive for hardware startups — you can actually try the product! So I think at minimum, I’d consider investing $500 just for the free Gryphon Guardian. Beyond that, if you’re a gearhead and/or see the massive market opportunity in cyber-security, this is a pretty cutting edge bet.

As always, startup investing is super high-risk, and anything can happen. Don't invest anything you can't afford to lose.

Invest in Gryphon here 👉 Term Sheet

DM’s open on Twitter & IG 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice. My investing opinions are my own and all diligence is the responsibility of each individual investor.

So, we did a thing (a very BIG thing). We got acquired by the perfect partner to continue a mission that started wayyy back in 2012.

👉 TechCrunch wrote a nice story about it here.

A little backstory: since launching, Technori has always been about leveling the playing field — initially for founders by providing a stage to fundraise from, and eventually for investors themselves by featuring investment opportunities in a weekly newsletter (cough* you’re reading it now) and podcast.

Over the years, founders featured on Technori have raised billions of dollars in venture capital, and retail investors have invested more than $50M via equity crowdfunding platforms like Republic.

My vision has always been to evolve Technori from a media platform featuring investments into a fund itself. And, now we get to do just that… Enter KingsCrowd.

KingsCrowd is a comprehensive data platform featuring a proprietary ratings algo which it uses to assess deals it invests in through the first-ever quant fund for alternative investments (startups, real estate, collectibles… anything fractional and online).

With Technori, they add media to the mix and literally become the only place to learn how to invest like a VC and access deal flow and eventually “1-click diversification” by investing in the funds!

What changes? Literally nothing. Just better data, more pitch reviews and a fund.

What else? You can invest in this deal right along side of me!

Invest in Kingscrowd

The Rules:

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Price — how good are the deal terms relative to the market

2. Market — how big is the total addressable market

3. Team — ability to lead, recruit talent and sell the vision

4. Differentiators — do they have a competitive edge

5. Performance — do they have meaningful early traction

Company Overview

KingsCrowd is a financial data platform for the online private market.

Key People: Chris Lustrino (CEO & Founder), Brian Belley (VP of Product, Founder of CrowdWise), Howard Schneider (CTO and formerly Dow Jones), Ahmad Takatkah (CIO, former Senior Data Scientist at Carta), John Fanning (founding Chairman & CEO of Napster and founder of NetCapital) and Scott Kitun (co-founder of Technori and Songfinch)

Brief: I've been a long-time admirer of what KingsCrowd is building and saw this as my opportunity to get a solid stake in that business by leveraging Technori. In doing so, Technori by KingsCrowd can become the "Morningstar" of online private markets [equity crowdfunding/fractional investing in startups, pre-IPO, real estate, crypto, collectibles… anything open to retail and accredited investors online] with a revenue model based on paid media and data subscriptions and a series of quant-driven funds. 

Terms & Takeaway

Invest in KingsCrowd here 👉 Term Sheet

Security Type: Reg A+

Series A: Equity

Valuation: $45,000,000

Fundraise Goal: $15,000,000

Minimum Investment: $1,000.00

Here's what I like: It goes without saying, I wouldn’t leverage nearly a decade of my life’s work unless I was all-in on the potential. I think KingsCrowd is a game-changer in the fastest growing fintech market of our generation ($30B in 2020, projecting $10T by 2030). And, the biggest gap I’ve seen since getting involved in online and alternative investing is the ridiculous lack of information available on the deals. Additionally, startups are not like public companies where there’s a clear history and/or comparable value. By providing retail investors with VC-level diligence and data-driven analysis that helps you source deals based on value, team and TAM — KingsCrowd solves for both.

That’s before the index funds. The funds can eventually be a major part of the company’s profit model. In the meantime, KingsCrowd’s first fund is a great equalizer because it undercuts traditional VC models by charging only a 1% management fee and 10% carry — and it serves to validate the quality of data by having a stake in the game.

In short, KingsCrowd eats its own dog food.

Here's what I don't love: While there are currently no direct competitors, if the market grows as projected there will be many, and some of those will likely be very well-funded. It’s also not unimaginable that firms like Fidelity and TD will eventually throw their hat in the ring too (which could also make for a great exit opportunity for KingsCrowd). The other elephant in the room is whether or not retail interest in online investing is a Covid phenomenon — which personally, I do not believe.

Lastly, I do think the price is a little high at $45M. The IP, potential fund ROI and more than 500,000 subs is impressive, but I still would have liked to see the deal offered closer to $35M. That said, between its Republic campaign and offline, they’ve already raised more than half of the $15M goal at this price so… while I would like it lower, the market suggests otherwise 🤷‍♂️.

Who should invest and why: In the early days of fractional investing (where deals were mostly obscure) my VC friends ripped me to shreds for investing in Republic; now valued at over $1B, they’re all piling into public funding platforms. That’s no reason to invest here, but I do think ‘follow the money’ isn’t a necessarily bad strategy.

As for the deal itself, the minimum is $1,000 which regrettably may price some folks out — but I think given the upside and if you already invest in Reg CF deals, you’re basically backing a tool that could very well earn you better returns.

Last but not least, I absolutely love being able to offer the ability to invest in the future of Technori because its what this has always been about (if you read my first post) — bringing deals that typically happen privately to the masses!

As always, startup investing is super high-risk, anything can happen.

Invest in KingsCrowd here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★☆☆

Company Overview

Unbanked builds artificially intelligent robots that make food prep more efficient and consistent 👉 Check the Charts 📈

Key People: Mike Bell, Ryan Sinnet, Rob Anderson, and Chris Kruger

Brief: Miso Robotics, with a valuation of $500 million, is raising funds on Dalmore Group through Reg A+ crowdfunding. The company has developed an AI-enabled robot, Flippy, that functions as a kitchen assistant. Flippy, the robotic chef, cooks food along with other chefs in commercial kitchens and makes the process more efficient and consistent. The company has also designed Flippy 2 Wings as the robotic chicken wing frying solution.

Terms & Takeaway

Invest in Miso here 👉 Term Sheet

Security Type: Reg A+

Series E: Preferred

Valuation: $500,000,000

Fundraise Goal: $40,000,000

Minimum Investment: $995.00

Here's what I like: EFFICIENCY! Can we all just agree that restaurants (at least fast and fast-casual) will be using automation, kiosks and robotics?? Ok, good. With Miso, restaurants like Chipotle are a) reducing location footprint sq. ft. b) producing 30% more food output and c) 2x’ing food prep time 👀 From an investment standpoint, this is a later stage deal. $500M valuation is very high, especially given the status of product integration — despite the brands they’re in pilot with being massive. With that said, the parent company, Dalmore Group, has been in the robotics field for a long time with a lot of success (I’ve reviewed their products before); so there’s definitely a proven track record.

Here's what I don't love: The price is relative to expectations. I do frequently invest in later stage deals because the risk is far less, and a 2x return is nothing to sneeze at. The product and use case is inevitable, but my only real complaint would be, how long will it take for brands to roll the new tech out?? This matters to me because 2x ROI is great if the horizon is 1-3 years, after that, I need to start eating into better gains elsewhere… unless there’s even bigger than 2x potential — which at $500M is steep.

Who should invest and why: It goes against conventional thinking, but I actually think later stage deals make for better early investor entry points because the sophistication level of the deals are more buttoned up and the risk is significantly less (to say nothing of the fact that less imagination is required to see the opportunity). In the case of Miso, the investment minimum is a shade under a grand and you’re getting preferred stock, rather than an uncapped note or SAFE. Whether you’re a newbie or decently-versed investor, I think Miso is worth a look given that what they’re building will 100% be adopted; the only question is, who will own the market??

As always, startup investing is super high-risk, anything can happen.

Invest in Miso here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★★☆

Company Overview

Quantum Music has developed a platform that matches Asian influencers with global brands. 👉 Check the Charts 📈

Key People: Quan Zhang (former VC at Guild Capital) and Quanwei Hu (cofounder of Crazart Studio)

Traction: Quantum Music is going after the Asian influencer economy which is growing exceptionally fast. In China alone, the iResearch Consulting group forecasts the market to surpass $35B by 2021. They solve the mismatch between Asian influencers and global brands by building a gig marketplace — by helping brands select an optimal group of affiliated influencers to partner with through structured marketing campaigns that track & analyze results.

Over 300 influencers have already joined the Quantum Music marketplace helping them 2x revenue over the past 12 months.

Terms & Takeaway

Invest in Quantum Music here 👉 Term Sheet

Security Type: Reg CF

Value Cap: $10,000,000

Raised (as of publishing): $72,294

Minimum Investment: $100.00

Here's what I like: As you may know, I co-founded a company called Songfinch which has seen extroirdinary growth over the past 18 months due largely in-part to the rapid growth taking place in the influencer/creator space. Quantum is experiencing something very similar, and it’s not likely to fade anytime soon. The Asian influencer economy is usually about 2 steps ahead of the US market; if that gives you a peak into just how massive the opportunity is for QM. At $10M, there’s tremendous upside here and while I do think the space will get crowded fast — Quantum has the early lead.

Here's what I don't love: As I left off above, competition will be fierce. Additionally, Quantum doesn’t have any discernable differentiators that will create moat other than first-mover advantage. I think the team is very smart and capable, but should TikTok decide to build the solution internally — they have the algo that decides the fate of the world. On a purely, ‘over-weight/under-weight’ basis, Quantum Music looks great; but valuation vs risk doesn’t mean much if you don’t fully control your fate.

Who should invest and why: As a value investor, ignoring Quantum Music would be a mistake — even the biggest loser in the space is likely to see a pretty return. Of course, the winners will clean house and I don’t see any reason why Quantum won’t have a seat at the table. If you don’t understand why TikTok is a thing, I’d prolly sit this one out. If you know how many followers you have on social, it’s worth $100 to be a part of the ride.

As always, startup investing is super high-risk, anything can happen.

Invest in Quantum Music here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★☆☆

Company Overview

The Axle Workout created the first smart barbell and workout routine that focuses on improving body composition 👉 Check the Charts 📈

Key People: Andrew Page (Head athletic trainer at the NY Athletic Club, and consultant to NBA and international Olympic teams) & Anuj Patel (former digital health venture lead at IMS Health)

Traction: The Axle Workout has taken off in the post-pandemic world, tripling sales from $260k in 2019 to $700k in 2020 and well past $1M in 2021. The concept is super duper simple — its a smart barbell that can be used for multiple exercises in a home gym or big box. When paired with its fitness app, Axle focuses on improving body composition as a way to determine gains and at the same time reduce stress on the body, making this a fitness tool for all ages and athletic experience. And, despite the recent bottoming out of Peloton — there’s still billions of dollars to be made as overweight Americans (and across the globe) try to improve life expectancy.

Terms & Takeaway

Invest in The Axle Workout here 👉 Term Sheet

Security Type: Reg CF

Value Cap: $11,000,000 (w/ 20% discount)

Raised (as of publishing): $102,533

Minimum Investment: $100.00

Here's what I like: Despite my current portly physique, I am a big fan of working out and throughout my life I have always been a person that hit the weight room pretty hard. As I got older and time (and excuses) got in the way I started to feel the wear and tear more — it forced me to look into alternative exercises and workouts and one of my absolute favorites revolve around barbell routines. So, I’m definitely down with a smart barbell. The other part of Axle I really like is the focus on body comp vs calories, strain, rings or whatever. With body comp, the measurables are clearly defined and impact is seen and felt. To me, that is potentially very sticky to users.

Here's what I don't love: As is the case in all fitness/tracking type businesses there are two key factors that I typically dislike… first, and most obviously, hardware. I’m not alone in the investor world for not liking hardware companies (this is why Peloton and many others spend so much on content and subscriptions). When it works it works, but when it slows… your stock goes from $157 to $26 cough* $PTON. Which leads to the second knock, competition is inevitable and when it happens there tends to be a massive sell-off then a new base is built the company has to work to regain market share, which can be really tough in fitness.

Who should invest and why: The price at $11M with a 20% discount (so really $8.8M at convert) is actually quite fair and TBH I would expect if the success continues for Axle to be in a good spot to sell for a nice multiple, especially given the nature of the barbell and fitness style. It’s not something that you buy and it’s the only thing in the house. It’s a product that can be solo or accompany different pieces of equipment so there is not nearly as much likelihood for people to just jump to something fancier. In general, I don’t invest in hardware stuff unless I would literally use it myself. For example as a golfer, I loved Arccos and would have put in money in a flash. So, if that’s you… an exercise buff that likes tech; no reason not to take a look here. Low minimum investment, strong founding team and a product that needs no real introduction. If you don’t “do working out” the incentive is probably not there, but still… worth a few clicks!

As always, startup investing is super high-risk, anything can happen.

Invest in The Axel Workout here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★★☆

Company Overview

reAlpha uses advanced technology and experience to help investors invest in short-term rental properties 👉 Check the Charts 📈

Key People: Giri Devanur (Nasdaq IPO experience & former EY Entrepreneur of the Year)

Traction: reAlpha combines the returns from real estate as a powerful asset class with the returns of the short-term rental model. reAlpha gives its members exclusive access to Airbnb properties from the wholesale market with a down payment as low as $2,500. There’s no question how massive the short-term rentals market is and when you mix that with the long-term ROI of investment properties — you have a $1.2 trillion dollar opportunity with revenues near $1bn annually as soon as 2025.

Terms & Takeaway

Invest in reAlpha here 👉 Term Sheet

Security Type: Reg A+

Pre-Money Valuation: $375,000,000

Raised (as of publishing): N/A

Minimum Investment: $1,000.00

Here's what I like: Like last week’s review, reAlpha is raising an equity round via Reg A+ which I very much like… then, there’s the price. A $375M Series Seed 🤯😏

We’ll get to that next.

reAlpha plans to change the short term rental market by replacing sweat equity with modern tech to optimize growth, reach, and influence eliminating the headache and cost of ownership. They plan to generate predictable cashflow through 51% ownership and rental income from each property — having spent a decent portion of my professional career in commercial real estate, I can attest to this being the dream. In fact, in a prior life the goal was to start with a small position in a commercial property, then continually increase allocation by re-investing rents before turning each property into a cash cow, and then before eventually selling at maturity and start again.

This is exactly that, but for residential. Which only a decade ago, residential was a dicey proposition. But in today’s market, with the addition of tech/booking apps and property turnover options — it’s a no-brainer. Just look at Redfin, Zillow and OpenDoor and you know the opportunity; they’ve all transitioned mostly to build-to-rent and reAlpha clearly sees the potential as well.

Here's what I don't love: I have nothing bad to say about reAlpha except for the fact the price is utter crazy-town! The market is as big as it gets. The founding team is excellent. And, the company differentiates itself well by how it goes about funding property purchases and turning fast returns via rentals and management fees.

But, that price tho…

Who should invest and why: Glass half full… the market is so huge that I personally know of companies playing in this space that have gone from $0 to raising hundreds-of-millions of dollars valued at unicorn status within the past 18 months. They’re raising with the backing of massive hedge funds and firms like BlackRock dumping billions into property acquisition and STILL these companies are considered a deal. Perhaps reAlpha can join that list. But for many, the $1,000 minimum and mind-blowing valuation probably prices them out. For value investors, I can certainly understand the resistance. For those that are long-term investors, bullish on buy and build-to-rent; the $1,000 minimum could be worth a shot if you believe in the team and TAM.

For me, I think you have to consider the risk profile, which is heavily dependent on its ability to raise truck loads of capital and trust the market winds. Overall, I think the concept will win, the market opportunity will bear out and this team is very clearly poised to win.

But, that price tho 🤦🏼‍♂️

As always, startup investing is super high-risk, anything can happen.

Invest in reAlpha here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★☆☆

Company Overview

Ei Ventures is a leading plant and life sciences company focused on botanical psychedelic therapies 👉 Check the Charts 📈

Key People: David Nikzad (opened the first medical marijuana dispensary in California)

Traction: Ei Ventures has control IP for three botanical psychedelic formulations- Psilly, MY-D, and MY-MDMA; with plans to launch its mental wellness and health app partnerships and MANA medicinal mushroom nutraceuticals in early 2022.

Terms & Takeaway

Invest in Ei Ventures here 👉 Term Sheet

Security Type: Reg A+

Pre-Money Valuation: $$269,400,000

Raised (as of publishing): $20,435,292

Minimum Investment: $498.94

Here's what I like: Nearly a billion people worldwide struggle with mental illness. Of these, 284 million suffer from an anxiety disorder. In fact, the global economic costs of this mental health crisis will reach over $15 trillion by 2030 (including more than 12 billion working days lost). The opportunity here is obvious and that’s why we seem to be entering something of a mental health gold rush — particularly in the psychedelic space. Ei Ventures has a founding crew that has been actively pioneering in the medical marijuana field for literally decades and if the three botanical psychedelic formulations prove to treat those suffering from PTSD and other anxiety-based conditions without the terrible side effects, as early trials have so far suggested, then Ei Ventures is in business!

Here's what I don't love: I’m not going to sugar coat this folks… the price is UTTERLY ridiculous. That said, it has not deterred investors from putting in more than $20M at this share price 🤷‍♂️ I love the mission, the founders and believe there is something to this having witnessed first hand successful treatment using psychedelics.

Who should invest and why: If you’re a value investor, you’ve probably already clicked off. I always like being able to purchase actual stock and $500 minimum isn’t too steep of an ask, despite the crazy small allocation. For me, I tend to ignore the early valuations of companies with strong fundamentals, IP and enormous TAM, especially when not investing a large sum of money (though this is pushing it😆). In the case of Ei Ventures, I think if you or someone close to you suffers from anxiety this opportunity may speak to you.

As always, startup investing is super high-risk, anything can happen.

Invest in Ei Ventures here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★☆☆

Company Overview

Guac helps users set financial goals, track their savings progress, and save money 👉 Watch The Pitch 📺

Key People: Scott Armstrong & Ryan Armstrong (father-son duo, the father, Scott, has previously built and sold a software company for $350M in 2014).

Traction: Guac is a top rated app by Daily Finance with more than 60k connected users who’ve collectively saved more than $6M via purchasing through the app. Courtesy of the pandemic, growth in the financial services sector has been insane and it is no wonder why given that 75% of US households are still living paycheck to paycheck.

Terms & Takeaway

Invest in Guac here 👉 Term Sheet

Security Type: Crowd Safe

Pre-Money Valuation: $18,500,000

Raised (as of publishing): $420,146

Minimum Investment: $150.00

Here's what I like: You know how I love a good finance app! I talk a lot about the importance of investing and “owning” your future — but I think a massively overlooked piece of that puzzle is savings. How can you invest if you have nothing to invest?? Guac is taking an approach to saving that targets younger generations by pairing user spending habits with an automated savings tool. Unlike rounding up your spend — which is more passive — Guac allows you to set a savings goal and suggests a percentage per purchase to help you more quickly achieve your goals. I really like the concept of actively participating in your savings rather than doing it in the background because it helps to reinforce better habits and financial awareness.

Here's what I don't love: The traction thus far is strong and the low acquisition cost of $25 is impressive, but I’d prefer the value cap closer to $10M than $18.5M at this stage. As mentioned above, the market is extremely competitive and I think there’s still a lot of risk here for investors until we see some meaningful revenue. And, speaking of competition, not unlike many other trendy startup sectors, saving and investing apps are becoming less and less differentiated, which means you’re investing in a brand/marketing company as much as you are the tech (though Guac does have patents pending).

Who should invest and why: I think everyone should care about saving, investing and the tools of the future that will help us all achieve more financial security. For that reason, Guac should be something you look at, and if it helps you save, why not invest in it? That’s the beauty of crowdfunding! And, while I think the deal is priced too high, the reality is if there’s going to be a strong exit the difference between $10M and $18M here is nominal.

As always, startup investing is super high-risk, anything can happen.

Invest in Guac here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★★★

Company Overview

Terraformation is attempting to hyperscale forest restoration to reverse climate change 👉 Watch The Pitch 📺

Key People: Yishan Wong (former Reddit CEO and Director of Engineering at Facebook, PayPal Mafia)

Traction: Terraformation has built the world's largest 100% solar-powered and off-grid desalination system that creates 34,000 gallons of freshwater every day, enough to support thousands of trees. In addition to 5 pilot restoration sites on Hawaiʻi Island, Terraformation is in development of several collaboration projects with local organizations spanning the globe (including: Ecuador, Haiti, India, Uganda and Ukraine).

Terms & Takeaway

Invest in Terraformation here 👉 Term Sheet

Security Type: Crowd Safe

Pre-Money Valuation: $105,000,000

Raised (as of publishing): $3,548,825

Minimum Investment: $50.00

Here's what I like: This is BY FAR the most ambitious, and well-funded startup I have ever got the chance to review. For starters can we talk about the cap table??? 1) Naval Ravikant (AngelList founder) 2) Altman Bros. (YCombinator/Apollo) 3) Marc Benioff (Salesforce founder) 4) Joe Lonsdale (Palantir founder) and so on. Next, let’s talk about the founder! Yishan is maybe the most well-known, unknown Tech Exec I can think of. He began his career at PayPal and prior to this was CEO at Reddit. He understands scale, team building, leadership and tech as well or better than most. My confidence in this company being able to build and fund the resources necessary is sky high.

Next, let’s talk mission. If you’re a climate denier… welp, I suppose there is none. However, if you’re like me and believe that Earth is a living ecosystem not unlike our own human form, that requires rest, balance and proper nourishment — then this mission should be pretty clear. We are not replenishing our limited resources nearly as fast as we’re using them and this presents a big problem, whether you want to talk about global warming or simply having enough water and natural resources to supply our existing and future populations. And, I think what they’re trying to do (more quickly scale these renewable resources) is maybe our best hope of turning the ship around before it’s too late.

Here's what I don't love: I mean, let’s be serious. They’re trying to solve a problem that is about as complex as the Wile E. Coyote maneuver in Armageddon. The valuation is over $100M and I am not sure exactly how we get a ROI (unless you count the little add bonus of life on Earth after we all die) — the projected 100x carbon credit demand will not kick in until around 2050 — that said, if they succeed there will be dozens of massive financial opportunities. Also, they could just not succeed, which would suck for our wallets and our civilization.

Who should invest and why: Here’s the rub; the price is high, the minimum is low ($50) the list of supporters and backers is a literal who’s who of tech, business and environmental science. The mission is incredible and the team is equal to the task so for me the question here becomes am I investing because I think this will be a quick flip or nice exit… no, probably not (although my daughters may appreciate the exit). However, I am investing because I believe in supporting ambitious missions that positively contribute to society. And, this is exactly that.

If this is your first investment, I think it is worthy because of the low minimum requirement and association with both the mission and the team. One thing is for certain, the quarterly and annual investor updates ought to be A+.

As always, startup investing is super high-risk, anything can happen.

Invest in Terraformation here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★★☆

Company Overview

FitBUX uses analytics and AI to plan your finances 👉 Watch The Pitch 📺

Key People: Joseph Reinke (founder and CEO, a CFA with more than a decade of investing and wealth management experience.) Other team members include alums from companies such as PayPal, Lockheed Martin and Dell.

Traction: FitBUX is on a roll, recently exiting beta with more than $1.5B in AUM from more than 10,000 members 👀 with a new partnership launching that could potentially introduce them to another 130k members — which is incredible. But, what’s even more incredible is the cash efficiency… only $225k raised to-date.

Terms & Takeaway

Invest in FitBUX here 👉 Term Sheet

Security Type: Crowd Safe

Pre-Money Valuation: $10,000,000

Raised (as of publishing): $33,175

Minimum Investment: $150.00

Here's what I like: Obviously, if you’re reading this you know that I place a high value on investing, particularly at the retail level. That said, the barrier to smart investing (despite the many awesome tools, M1 Finance, Robinhood, Acorns, etc.) is still reasonably high. And, the main reason for that is financial literacy and fear of screwing up. That is why I really love the mission FitBUX has — its goal is to enable ANYONE to invest smarter — by allowing AI and human capital analytics to identify the unique needs of any person or family, rather than a cookie cutter approach. For example, I loved Acorns, it’s how I got started, but I was a single guy making a tiny income, so who cares as long as I was saving/investing something (anything really, lol). Imagine starting now, with 2 small kids, a decent income, a wife with a pension and a house… that is a little different ballgame and FitBUX exists to tailor my specific investment plan to exactly what my current and future lifestyle requires. I absolutely love it.

Also, from an investment perspective, I am obsessed with how efficiently the team is growing the user base and the fact they’ve already got more than $1 billion in assets under management means people are seeing real value and continuing to move more money onto the platform.

Here's what I don't love: Literally, the only thing to poke at here is how crowded the robo-investing space is (and will continue to become). There is an auto-invest tool for literally every stage of life… but, the good news is every human being on Earth is a potential customer.

To truly be successful, FitBUX will need to do two things incredibly well — a) continue to sign up new members at a ridiculously cheap rate and b) effectively get those members to move much of their wealth over to the platform (and keep it there). If they can do that, they’ll become an incredibly attractive acquisition target for large financial institutions losing market share to apps. If not, they could quickly become just another finance platform to choose from.

Who should invest and why: The $10M value cap is extremely attractive to me given the early signs of growth and operational efficiency. The buy-in is low at $150 minimum and the margins are fantastic. Overall, I think the approach to finance that FitBUX is introducing is extremely smart and effective and in a way they separate themselves from most self-directed investing tools by providing a more custom approach — only without countless hours on the phone with a financial advisor and the useless annual gift of a desk calendar.

As always, startup investing is super high-risk, anything can happen.

Invest in FitBUX here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★☆☆

Company Overview

VirZOOM is bringing exercise to the metaverse 👉 Watch The Pitch 📺

Key People: Eric Janszen (serial entrepreneur and investor), Eric Malafeew (Guitar Hero, Rock Band, & Dance Central) and Jason Warbrug (20+ years of games industry experience)

Traction: VirZOOM has more than 250k installs, 50k+ this month alone. With $375k in revenue at 93% gross margin, VirZOOM needs only to focus on market share in a rapid growth space — with 44.8% CAGR, the Metaverse Market is poised to hit $596.47B by 2027. I could spew digital exercise stats but I don’t think anything I tell you about this will come as a surprise (it’s a top 5 growth market).

Terms & Takeaway

Invest in VirZOOM here 👉 Term Sheet

Security Type: Equity

Pre-Money Valuation: $24,300,000

Raised (as of publishing): $468,549

Minimum Investment: $500.00

Here's what I like: I 100% believe in the metaverse opportunity, but I separate it into a few categories; a) gamer kids that live vicariously through avatars b) digital nomads c) collectors and speculators (bored ape and realm investors) d) those looking for a break from reality. It’s the latter that interests me — working out in the metaverse after a day spent with humans sounds amazing. For that reason, I am a believer in the potential here. Additionally, I like that they are acquiring users at under $15 with a LTV near 10x. The bet becomes what % of users become obsessive.

Here's what I don't love: First, the metaverse multiple freaks me out — I totally get the hype, but with hype comes blindness. At $24M I’d like to see more revenue and less leap of faith. From a user perspective, the 4.6 rating is outstanding, but anyone with experience in health/fitness apps knows the winning recipe is super low CAC and a combo of consistent freemium conversion and absentee subscription revenue.

Who should invest and why: I remember riding virtual maps at the gym in 2000. Metaverse isn’t as new as it may seem. But, virtual reality has come a long way — in fact, Peloton probably has a bigger role in the adoption than many figure. There’s no question where things are going, so investing in VirZOOM might be a great entry point into the market with the added hook that its more fitness than anything.

As always, startup investing is super high-risk, anything can happen.

Invest in VirZOOM here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★☆☆

Company Overview

MySwimPro is the world’s #1 workout app for swimmers 👉 Watch The Pitch 📺

Key People: Fares Ksebati (Forbes 30 Under 30, 3x Masters National Champ), Adam Oxner & Paige Walters

Traction: There’s more than 100 million fitness swimmers in the world and nearly 2 million of them have already downloaded MySwimPro to swim more than 10 billion meters. With $3M in generated revenue, Apple named this app its “App of the Year”.

Terms & Takeaway

Invest in MySwimPro here 👉 Term Sheet

Security Type: Reg CF

Pre-Money Valuation: $15,000,000

Raised (as of publishing): $360,947

Minimum Investment: $100.00

Here's what I like: MySwimPro has very strong traction in a sport/fitness activity that continues to grow. Apple Watch has changed the game forever and weirdly, swimming is much more difficult than one might think. To effectively swim your way to health actually requires some training and guidance and I’m not sure about you but my ego isn’t going to allow me at 37 years old to be floating around with a swim instructor, lol. BOOM! Enter MySwimPro.

Here's what I don't love: Maintaining app dominance is a tall task, no matter how much great content and gamification you create — my phone is like an app graveyard. And, while I think MySwimPro does it best and its built-in DAU prompts are strong, my concern would be retention. As Apple Fitness expands it’s content offering they will either look to buy MySwimPro or worse, overpower them.

Who should invest and why: If you’re a swimmer or want to be (which for YEARS I've told myself that I do) MySwimPro is a great company to support. There will be competition and while Apple Fitness should be a consideration it could also be an acquisition opportunity as well! They have strong traction and I love a good niche market with a proven leader in the space.

As always, startup investing is super high-risk, anything can happen.

Invest in MySwimPro here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★★☆

Company Overview

NowRx is a digital health platform that provides same-day pharmacy delivery and Telehealth services👉 Watch The Pitch 📺

Key People: Cary Breese (repeat CEO w/ Fortune 500 experience), Sumeet Shoekand (Technology executive with 19 years of experience)

Traction: NowRx generated over $13.4M in revenue in 2020, a 90% YoY increase from 2019 and in H1 of 2021 it drove nearly $10M in revenue (70% YoY increase) with more than 35k customers and 400k prescriptions delivered, across five territories. NowRx is also going after the massive $60B global telehealth market.

Terms & Takeaway

Invest in NowRx here 👉 Term Sheet

Security Type: Preferred Equity

Pre-Money Valuation: $275,000,000

Raised (as of publishing): $10,582,583

Minimum Investment: $998.00 ($10.50/share)

Here's what I like: Prior to the pandemic I thought telehealth was a waste of time, that of course was before I ever used it. Since 2020, myself, my wife and our two young children have relied on telehealth almost exclusively — and we’ll continue to do so.

It saves a ton of time and headaches, it saves money on wasted visits and tests and let’s be real… we do everything else this way already 🤷‍♂️. Additionally, the concept of prescription delivery (don’t get me started on the abuse factor, misuse is already rampant across the country) is utterly genius!! Have you ever NOT waited 45 minutes in line at Walgreens? NowRx gives you all that time and pain in the ass back!

Lastly, I actually have spent a decent amount of time interviewing people in this space, from Capsule (which recently raised at well over $1B valuation) to VillageMD which has a multi-billion dollar partnership with Walgreens to bring medical facilities to your local pharmacy (a tele-bridge if you will)

Here's what I don't love: There is nothing about NowRx that I don’t like, from a business perspective. The team is outstanding, customer reviews are pretty high for a notoriously pissy customer demo and their growth is outstanding — regardless of the Covid boost. That said, the space will get increasingly more competitive over the next few years and weirdly, NowRx may run into some of the same resistance that food delivery startups like GrubHub have as providers claw back some of their margin.

Who should invest and why: Just to be clear, this is a full blown $75M Series c valuing the company at $275M, not your usual Reg CF or early stage startup. If you believe in the future of telehealth, concierge medicine and pill delivery — this is a safe bet.

With a $998 minimum investment, this deal is on the pricier side to get any real allocation, but FAR lower risk. From my personal investing perspective, I’m a big fan of placing small bets on Series A, B, C and pre-IPO deals, but my expectations are different for each. I like to throw a little bit of money into Seed and Series A deals with an expectation of 8-10x returns, but as I invest into Series B, C and pre-IPO, my expectations shift closer to 2-5x returns with much shorter horizons.

If you’re interested in participating in larger, later stage startups, this is a great entry point, BOOMING market, inevitable adoption and a proven leader.

As always, startup investing is super high-risk, anything can happen.

Invest in NowRx here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.

The Rules:

Every week I breakdown startup pitches with the added hook that you can invest whether you’re accredited or not (if you don't know what that means, click here).

I base my review on a 3-minute founder pitch and some light diligence.

My scoring system is not a validation of idea, or grading for likelihood of success. It just means, all things being equal at launch — this startup has these boxes checked.

What I look for:

1. Founder — ability to lead, sell into and influence a given market

2. Idea — is it inevitable or solving a BIG problem in a scaleable way

3. TAM — how big is the total addressable market

4. Traction — do they have meaningful early traction

5. Unfair Advantage — do they have a competitive edge

★★★☆☆

Company Overview

VEL is a premium, utopian tech-forward work cafe 👉 Watch The Pitch 📺

Key People: Mo Hamzian (repeat founder with $150M exit), Jack Gunn (20 years portfolio manager with $650M in AUM) & Jasmine Crowder (former Music Co CMO)

Traction: VEL has a lease in-hand for location #1 in Savannah, Ga with blueprints, partners and tech layout set to deploy — but at current they do not have any active locations or revenue. While this is in “concept-stage", I can overlook that given I have a pretty decent sense of what a WeWork inside a SBUX might look like 🤗

Terms & Takeaway

Invest in VEL here 👉 Term Sheet

Security Type: Reg CF

Pre-Money Valuation: $9,250,000

Raised (as of publishing): $375,000

Minimum Investment: $250.00

Here's what I like: I live in the suburbs and driving downtown for a few days of week a) sucks b) is not worth the office expense c) I go to Starbucks if I want to catch up with my neighbors (I rarely do) and d) co-working spots in the burbs are brutally sad.

The idea of merging co-working memberships with office-level privacy and the convenience of a local coffee spot is pretty compelling. The founders have a proven track record of success and there’s no question this is an opportunity that someone smart will explore as we rediscover working in-person. Additionally, not enough attention has been paid to the types of jobs and way we work post-pandemic; there will be a LOT of solo operators, contractors and tech dependent teams working hybrid or remotely.

Lastly, I think starting in the South is brilliant, there’s a lot of pub on how the South is truly developing into a major tech hub!

Here's what I don't love: If I’m being honest, I fear that as offices come back to life, far less people than you think will need a committed remote working space than have over the past two years (losing their shit working with kids screaming in the background).

That’s really it. I mean, obviously lacking experience managing a business like this is a concern, but let’s be real… it has a robot delivering coffee and the rest of the amenities are either space with doors/sound proofing or a barista and snack shelf (it’s nearly entirely automated) 🤷‍♂️

Who should invest and why: The price at $9.25M is a bit steep for having no active locations, they previously raised $500k at $5M and I would have liked to see a little more discount here until they begin adding locations. That said, if you have ever tried working at a coffee shop or WFH — I would think you’d jump at the chance to try one of these puppies out. If so, the investment minimum is pretty low at $250 and well worth supporting the concept.

From an investment standpoint, margins on this will be significantly higher than a typical restaurant/coffee shop because rather than trying to upsell you a cake pop, they upsell you what you came for in the first place… SPACE! A lot of minimalist food and protein/health related companies have had a ton of success with this model and I have never seen something quite like this.

As always, startup investing is super high risk, anything can happen.

Invest in VEL here 👉 Term Sheet

Questions, DM me 🤳 @kitun.

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.