Just imagine to get all laboratory analysis, testing services and certifications from one place.
They studied PhD in Aalto University. They tried to get laboratory analysis and realised it's very time consuming and expensive. They started to create a laboratory database and connect their class mates with the labs.
I compare the idea with our local FoodDocs, where you can get all paperwork done for restaurant opening. One of the bottlenecks is to pass water analysis - you have to collect water, find the lab and right methods to access, drop the sample, wait for the results, collect results and deliver to the authority via FoodDocs.
The startups offers the largest network of laboratories and provides internal validation process: select right lab, provide blinded tests with analytical standards and constantly control the quality.
- Combines the best methods from different providers.
- Service operates with the most reliable and accredited labs in the world and offers the following methods:
- They are looking to develop self-checkout portal in order to collect offers and match required measures with their database. It will allow to generate instant proposal. Nowadays, 80% of the times they need ask lab for certain method and price.
- Anonymity is very critical for their clients, - they manage to solve it by collecting the raw material and forwarding it to the choosen lab. Once results are recieved, they send whitelabeled spreadsheet to the customer.
- Next vertical: clynical measurements
|Manufacturers||Importers, sellers||Government, counties, organisations|
Raw material purity
- Google Ads - 200 EUR / month - 5 leads per week - 50% conversion rate to customer (Q1 2021)
- Cold sales - 1x sales - 100 leads per week - 10-20% conversion rate from cold calls (Q4 2020)
- 105 customers (Jan 2020)
- 52% returning customers
- 46% average margin
Number of investors: 500K raised and 150K left for active angels/fund partners/b2b entrepreneurs with previous exits
Team: 8 people, PhDs in Physics, Chemistry and Bioproduct technology.
Revenue and expenses:
Product cost - payments for sub-contractors (labs).
Funding came from grants before this round.
Ask from community
#1 Team is creating a self-checkout web-shop, so that the simple analyses can be bought easier than ever. Their customer service will continue to help with deciding the correct method and give quotations for the non-standard methods. They are looking for developers or product owner who will be able to engineer the drop-shipping account for lab analysis and automate the internal processes. Per my personal opinion, it could be easily created in Bubble.io without any line of code. Ready to share the equity with the right person.
Let me know if you are interested to speak with the team and get more information about fundraising - Akim Arhipov