Startup Battlefield Competition - Flight #2 | Disrupt SF (Day 1)
1:41AM Sep 6, 2018
Ladies and gentlemen, please welcome back TechCrunch, senior writer and your battlefield host Anthony Ha.
Hello and welcome back to the startup battlefield. This is session 2. I see most of you are familiar with how this works at this point but this is a quick refresher will have five companies present for 6 minutes, 6 minutes of Q&A. We're going the judges are going to choose the finalists to present on Friday and they're going to compete for the disrupt cup and $100,000.
And that is all you need to know Let's bring out our judges. First up we have Benito Agra Wallah. She's a physician scientist and partner at GV. She she's currently also a medical resident at Stanford. Next we have Sarah Cannon, a partner at index ventures investing in consumer businesses previously a policy advisor for the National Economic Council during the Obama administration. Next up we have Bob Kocher. Bob Kocher is an MD and a partner at Venrock. He. focuses on healthcare IT and services investments. He's also a co-founder at Lyra health. Next we have Peter Pham, co founder at science an incubator that's co building companies in Santa Monica. It also has a $74 million fund. Last but not least we have Megan Quinn a general partner at spark capital focusing on growth investments. She joined spark from Kleiner, Perkins, Caufield and Byers. All right give it up for awesome judges!
like how that built that built that was good well done. Okay, let's start the second round of the battlefield. First up we have Kegg. Presenting for Kegg are Kristina Cahojova and Hynek Jemelik.
Hello my name is Kristina and I'm going to present Kegg. Cool.
Sex. We all love it and it's fun and sometimes we forget that its primary function is for us to procreate. And while we love sex, it's not really fun to get pregnant when you don't want to. Also when you are trying to get pregnant and you simply can't, that's very painful. These problems, they happen for a number of reasons but one of them until recently women simply couldn't tell the overall fertility and when they can or can't conceive unless they would visit the doctor every day. The key to understand when a woman is able to accept sperm is called the fertile cervical fluid. It is so important because it's the only defining factor when sperm can move, go through the cervix and be at the right spot at the right time.
And it's so important that most of you right here were conceived from intercourse that didn't happen at the day of ovulation but when the fluid was most fertile. Yes, and as women we know this fact actually this morning more than 2 million American women were trying to assess the quality of the vaginal fluid with their bare fingers and this pain is really real because this process is very difficult. That is why we invented Kegg. Kegg medical device and it's evidence based it predicts ovulation up to seven days in advance and detects fertile cervical fluid. Kegg actually looks feels and acts like a kegel device which means that it strengthens your pelvic floor. It vibrates a little bit prompts you how to squeeze and once you're done, you put it back to the charging station and you see your fertility results. Let's move to the demo. So we see how it works.
So Hynek has like two cups of liquids. They should resemble the vaginal environment. Can you please go to demo? Yeah. So Kegg automatically detects when it's surrounded by the fluid which resembles vaginal environment and it starts sensing. Our proprietary technology is based upon the correlation of the giant electrical impedance and fertile mucus, which sounds crazy. But basically it's like the two golden sensors on top. They are sending pulses of current and based on the response we know the consistency of the fluid. As you can see, it's all fast because it's done with the poles of the car. And the first user is apparently not very tall. Now Hynek is going to repeat it with the other user. The tail of the Kegg is actually Bluetooth because the device itself is not processing the data. We are sending the data to our cloud where they are process and return back to your phone. And also the user apart from the simple results they can go also a little bit deeper and they can see insights about their daily and overall fertility. Yeah. So this Amy now actually can try to conceive today. Thank you very much. Let's move back to the presentation. Yes, are there are many fertility trackers on the market all of them, they're using more or less probability to really tell women when they can or can't conceive. Because, for example, you're in based monitors. They are resembling like they're telling woman when some hormones are present in a urine, which may or may not really tell women what is happening inside her vagina. And also imagine like when you know when you can and when you can't, you can use this information to make very good decisions when you have a stable partner what to do, because the women suffer from side effects of hormonal contraception and IoT. Most of them and that's why this market is in decline. And we are talking about two very big markets. One is fertility alone which excluding IBS is worth billion. And the other one a hormonal contraception or IUDs 40 billion dollars. Our business model means that we are going to sell Keggs to finally users for we're trying to give them affordable price and on top of it, we are going to offer them fertility consultations. This is because every fourth women here in United States can't afford a doctor and the first time she visits a fertility doctor is actually when she's already pregnant.
Our team apart it's myself and Hi. Nick has many technical people. I have a double degree Master of international business and MBA and marketing experience from tech giants like Amazon and eBay and Hynek he has graduated from Oxford University in United Kingdom has won international Olympiads, informatics and computer science multiple times, also led engineering teams and many companies. Also we're proud to have on our advisory board, Dr. Bronner's drool, who really pioneered the technology to be are using for up surgical devices years ago. Also look to algebraic who is on a seed of European hall for preventive healthcare, this interested how we can use our insights for preventive health care,
Kiki's here you know, not to change our body, but really to help us understand what is happening and to use information from our own bodies to make informed decision and not to take anything artificial. Thank you very much. And go to our website to reserve your cake.
I'll say that was certainly the most innovative demo that I've seen.
So kudos for that. My question is around accuracy. The costs of being wrong about this particular information are high so how accurate is information you get as a result
Um, okay, we are starting we are FDA close one device and we are using electrolyte metal that's what the device is based on the which has been given by multiple studies to be acquitted more than
as a FDA class one device we only can be a fertile to trigger. So fertility trickery the first step for us, and eventually we will go the FDA digital path to be something else and also be able to claim Yes, you can really rely on us as a contrast that the device
is already in the hands of customers. I mean, you have real data around efficacy and so forth. Yes,
we have women that are using our device, which we know which we don't know, we also selected women that we don't know from our waiting list. So far, everyone is very, very happy, which you can imagine why? Because many women are actually forced to do it with their fingers now, so if you give them device that is accurate, so it's like very good user experience for them? And how
do you think you're gonna find your consumers? How
we are? It's very good question. So I was talking that we already know according to data from any how many women are inserting this vaginal data into the apps, and it's 2 million already, the Google searches for how to make this automated are crazy high, like it's more than Apple Watch the initial users that we got there, just organic, like in two weeks, which we started, I think, for the TechCrunch are good for thousand people that wanted a device already. So the first market those users that are already struggling will be very fast. Eventually, we will probably grow by birth of my mainly but also by attaining additional claims that we can make, what's the cost of goods? I can answer this question on the backstage, our users are watching
as compared to a cycle tracker, what proportion of kind of outcome variability can be explained by data that you can measure? Can you repeat, I couldn't most people use cycle trackers. And that explains some proportion of their ability to conceive in a particular cycle. What fraction of that ability to conceive? Can you actually capture?
Yes, very good question. Most of the fertility drinkers which are now on the market, so what they do, they're either assessing hormones which are presented during or they're trying to use a lot probably tea you have to put in the algorithm and like, okay, like her past cycles, or that's how they try to predict why women do it now with fingers is because everyone struggles with understanding when is the first day when I can get pregnant. And these devices when they're based on probability it's very difficult for them to understand it You probably heard about apps that go with Robin someone because you really need the accuracy from the day one day one is actually the most difficult to assess for these devices
today and Did I answer your question Yeah. Do you have any idea of I guess population that's struggling like you said the women who are interested in this device how likely are you to actually help them conceive how like know that their problem is lack of measurement versus something okay. When you look at the studies that are tel telling woman like when a woman likes tracking it now, but hands when she's checking it out of Florida. with hands she's four more four times more likely to conceive within the first three months if you have a device that is even more accurate at least four times or more
in the country. Hynix one developing on the college thing. I'm thinking of margin. Have you tested any online advertising? What do you think customer acquisition cost is? Do you still have margin available?
Yes, we did. So that's why I'm talking about this women because we had some organic traffic before. But one of our investors and actually advertising agency we spend bags and that's how we got people already listed on because the really the first market is really absolutely underserved. And the women are super motivated. So it's very simple for us to get like first customers. And then you would add on top of that a subscription product for fertility cons station.
This was idea of our testers because when we did feedback sessions with them, what they enjoy it was that they had access to a doctor and I realized that for them, it was so expensive, really, to really get some information from Dr before. So we decided to offer this on top of the device. Not everyone has to sign up. But women really, really wanted but we can't offer it for free because it comes with a cost. What can you do beyond fertility? If you're capturing cervical if samples what are the next medical applications? What's next like cervical fluid is is kind of it contains a lot of information with every vehicle as we can only claim fertile days. But basically it contains the information and also risk factors about for example, cervical cancer, like when you're approaching multiples when you have like, even the Frisco early labor and so on so many other applications, which we may or may not have. It really depends on the business and what the strategy will be. But this is like it's like the possibilities. Are there a lot? Yeah. How frequently do you need to use it for to be effective? Yes,
we have to stick for what we have to say according to FDA. So yes,
have to use it at least days a cycle Yeah, especially throw the fertile window
and I can tell you more on the state.
Does it have to be trained to an individual woman's data? Or can you use a generic training sample?
Yeah, so this is actually very unique about our device. contrast the comparison if you tracking body basal temperature, you have to compare it to previous cycle other women but as we can actually sense the presence of electrolytes in the mucus on the particular day so we can give advice and information from this day, man.
Alright, one more round of applause.
Pretty sure this is the first Batman t shirt that I seen at the battlefield that I'm really really happy about it. All right, let's bring out our second startup that startup is for thought presenting for for thought our Dr. Nicholas and Sammy gauche
we can access almost all the knowledge on the internet in an instant by simply googling it. However, enclosed knowledge networks like the workplace, finding information is still a horrible experience.
Instead of focusing on doing what they're actually good at. Employees are forced to sift through generic Wikis cluttered, Google Drive countless messages from teammates to get their questions answered.
knowledge workers waste over
of their day trying to access information to do their job. This is a massive number, and it's getting worse over time. If every engineer marketer exec or sales rep could get that time back. Imagine the cost savings and the productivity increase
introducing forethought, information retrieval embedded into employee workflows. Today we're launching Agatha answers an AI agent who delivers answers to your workforce before they even ask
our first application. Customer Support integrates with your favorite help desk to supercharge your support team.
Agatha indexes any data source within your enterprise and safely hosted in our secure cloud environment using a proprietary deep neural network architecture. Agatha truly understands the facts contained in your knowledge sources and immediately helps your support agents whenever a customer has a question. Let's show you how it works. Move to demo please.
Mix panel is an analytics company that uses Agatha answers with Zendesk. Let's imagine I'm a customer support agent and mixed panel and this is my queue of tickets in Zendesk. I open up this ticket,
the customer asked a complicated question about identity management and anonymous events, I see that Agatha proactively left a private comment containing a suggested answer her reading comprehension model automatically extracted the few sentences that answered this complex question by mining knowledge from hundreds of thousands of documents even highlighted the main part of the answer for me
in this case the suggested answer was buried in the knowledge base inside a paragraph from this article
I can use the answer directly
or I can modify it.
Agatha also shows me information inside the Agatha sidebar. This can include relevant articles or documents
macros for common questions
and past tickets with similar responses.
Agatha can even find answers inside videos this can be very helpful for walkthrough and tutorials like this hour long webinar where the answer was contained in minute all this information at my fingertips turned minute ticket into a two minute one back to presentation please
our SAS product charges up to per seat per month depending on the size of the enterprise and the features requested initially we're targeting billion market comprised of the over 4 million customer support agents using modern help desks as we build Agatha answer solutions to different job functions we will scale Agatha into the billion enterprise productivity market
ticket deflection competitors like salty and Zendesk answer bot redirect customers to help articles This is easy an automated but requires very simple questions, decreasing customer satisfaction for most customers who simply want a human
template based competitors like digital genius, and answer IQ match questions to canned responses. This makes agents more effective but requires manual creation of these templates. They take over six weeks to deploy and can't answer complicated or unexpected questions. Agatha automatically extracts answers to complex questions. The model achieves human accuracy on reading comprehension benchmarks transfers across new customers and deploys in six hours. Not six weeks,
we launched our private beta four months ago, we now have seven paid pilot customers representing over k and deal value, the first of which I've already converted to annual contracts Agadez index over million documents increased agent productivity by and saved over years of customer wait time. Our team consists of published machine learning researchers and international award winning engineers from these companies and institutions like Harvard and the University of Waterloo. Our chief Commercial Officer was a year veteran and Enterprise Search previously director of technology at companies that ultimately achieved billion dollar exits today for thought is launching Agatha answers for customer support. If you want to optimize the workflow for your support agents, and save your customers, decades of way time, sign up for a custom
slash disrupt. Thank you
pick it up a
little more background about yourself.
Yeah, yeah, I can tell a little bit about the the team's history. I'm University of Waterloo grad. Sammy is from Harvard did his undergrad and masters in computer science and his thesis in unsupervised text classification. I've worked at places as mentioned, like Facebook, palantir Dropbox into storage and did and published machine learning papers in my undergrad
are super cool. I can see it being really, really useful. How does it work? so quickly?
Excuse me? How does it
You said, you can launch it in six hours and have a working. That's amazing. Thank you. Yeah,
there's a few main components in our IP there that allow us to do that. Part of it is that we've built large scale distributed indexing engine distributed so things happen faster, allows us to index millions of documents and process them while we're indexing them in a way that we can then retrieve things pretty fast. In addition, our models and algorithms,
a lot of them just train really fast. That's the that's one component. Another component is that the ones that don't train really fast are still pretty fast, they train within a day, but we actually don't need to retrain them because they leverage properties language and the way that people lay out information and ask their questions and construct answers to those questions. So that's pretty consistent across domains, whether we're talking about driverless cars, or stock investing, or whatever else who's Yeah,
this is really, really cool. And I understand starting with customer support, but I think it could be applicable to Sales Automation, or even, frankly, internal QA and operations.
Is there a way
client or customer of yours? can train edit, correct, add to the knowledge base if something is missing? Or if there's a macro that they want to roll out that's new or instill into the team?
Yeah, that's a good question.
We also provide our own support to our customers, especially right now, that's actually been the early founding team, we haven't found that to be a problem, we actually do detect ourselves if there are redundant questions with redundant answers do not correspond to macros right now. And we actually recommend creating a macro for them. So that's one area where we can intervene and kind of fill in knowledge gaps with
public documentation. Other than that, there's sometimes there's always going to be questions that can't be answered with public documentation. So we do pretty well there as well. Who's your
target customer? Is it a small business can't have an IT team? Or is it a large business with power Agatha users? Yeah,
so we're targeting mid to large sized businesses. A lot of the companies you mentioned earlier, have hundreds of support agents and thousands of employees.
Yeah, we believe this knowledge problem gets worse as you scale up, the biggest customers actually have a lot of the pain that we helps all. So we're starting in the mid market and potentially going up in there. Related
to that, can you talk us through a little bit of your pricing, because dollars a year sounds like a lot per seat. So how did you get to that price? Have you had any pushback from customers? And then how do you plan to kind of sell people? Yeah,
definitely, um, women are pilots and early customers, we found that we were able to decrease time to resolution on tickets by up to and so if you imagine your, your customer support agent salaries around k of that, say, k per year, we said, Hey, take a so the ROI was x still what we were able to provide. And that was actually the pricing we we propose to a lot of early products and customers.
He talks about some of your average deal size, what is the average deal size?
Yeah, within the first seven average deal sizes, k a CV, you know, around agents, but we're actually seeing some teams that have over over agents, and that deal sizes well over, you know, hundred k type deal. But the average ad sizes average deal size is K.
That's pretty good. For just out of the gates. The demo that you showed was an email interface. It looked like do you enable the same sorts of functionality in a chat based interface?
Great question we are working on on chat right now, it actually highlights Rei in a better way. We're, we're pretty good at question answering. And what we do is embedded into employee workflows to where we try to be good at understanding the context of what's going on and showing information based on that. Chad is a great application. Yeah,
it seems like you could almost reduce the human intervention even more by suggesting answer in the chat box. And the person just press
Yeah, we want to empower the agents to be great at their job. And whatever helps with that. If it means reducing how much they have to think or just like, look for information, then we want to do that.
And the demo, right? Looks like the user was labeling the question with various tags. Is that a key part of how Agatha learns or is that you know, bonus?
I'm like that. So it's not part
how it learns to answer questions, although we have done some research into that, and it could be but it's, it's an additional kind of feature that is useful when you're trying to understand what people are asking about so it could inform even product decisions or at the very least knowledge gaps in the documentation and things like that. What percent of the questions can I get the answer today where was that three months ago? And where will that be in three months just in numbers very quickly um, what percent about of the time it's useful probably over of the time you can just take it right away. I bought practice
give it up for for thought,
right. Let's bring out our next startup. Ella been presenting for elevation Mark Allen coming out.
I'm worried about my dad.
We're having some trouble here.
Here we are.
I'm worried about my dad.
He's almost ad and as hard as failing, his muscles are wasting and he's forgetting things
were taking a walk the other day. When he stopped short of breath, he turned to me and with an English look on his face. He said mark, aging sucks.
But what if it doesn't have to be this way? Think about the people you love most?
What if you were able to give them more time living vibrant and healthy lives
may have a way
we're a team of Harvard scientists,
drug development, veterans and serial entrepreneurs.
Based on our founders discoveries were developing new medicines that have the potential to restore regenerative capacity. regenerative capacity is our body's natural ability to heal itself, which is incredibly powerful and or young, but deteriorates as we age.
The crucial question is how do we restore regenerative capacity? One fascinating way is with young blood.
You may have heard of our research
you may heard you may have heard of our research in the popular media already
is crazy as this sounds, it really works
using a model called parable. gnosis
our scientific founders combined the circulatory systems of an old and a young mouse
after days of exposure to young blood. The old mouse, by many measures grew biologically younger, experienced a regeneration across many tissues and organs.
What if we could package up the goodness that's in young blood and turn that into a medicine
Let me introduce you
in old animals
by giving them GD F at the right doses were able to regenerate their heart, their brain, their muscle, other tissues,
founders, discoveries were recognized as a top scientific breakthrough and had been published in cell nature science and other leading journals. Based on this, we're developing new drugs that increase the activity levels of
potentially treat and prevent age related diseases. Let's go to our demo to see an example of how we make these discoveries.
This is a slice of muscle tissue in a month old mouse. This is about and human years. This mouse is seven days after an injury.
This purple area is inflammation showing a slow and imperfect healing response of normal aging. Now watch what happens when we add gt F.
This is the same age mouse also seven days after injury. If you are a muscle biologist, you'd be blown away that the inflammation is almost gone, replaced almost entirely with healthy regenerating muscle tissue. This was published in Science where we also demonstrated the mechanism of repair
activates muscle stem cells which repair damaged tissue back to the slides,
a loving we founded in
and I'm very proud to publicly announce us for the first time here on stage at TechCrunch Disrupt
we've raised an oversubscribed seed round and have nearly people working across six research programs we have exclusive worldwide patent rights from Harvard to develop new medicines modulate gt F.
So what's it gonna take to get these medicines to patients we have for FDA track programs using our drug candidates to treat the most common diseases of aging, heart disease, diabetes, Alzheimer's, and circle Kenya, which is age related muscle dysfunction were two to three years away from human clinical trials. Each of these programs represents a multi billion dollar revenue opportunity. Well, we've yet to test in humans.
Researchers at UCSF have studied protein levels in patients with heart disease,
they've discovered that people with higher levels of a measure of have a sevenfold lower risk of death over a five to nine year study period. As well as fewer strokes, heart attacks and heart failure. hospitalizations. Wrap it up, I'd like to leave you with one final thought at we envision a future where as we grow older, our minds and bodies stay young. Join us on our mission to create this future. I hope that we can learn execute fast enough to help my father all of our loved ones. Thank you.
Actually, literally him next me, give me blood, not like a TV show. Is it a pill can imagine it
finally. And that Peter
Sign me up
there was more exciting when it was actually Yeah, I thought I thought I could take this and become like Wolverine. Yeah,
how does this work?
injectable pills are first generation therapeutic will be an injectable.
How often you need to inject this thing.
Well, so def wild type itself has a short half life. So
we expect you'd have to inject subcutaneous Lee once a day. We're already working on next generation therapeutics that we could inject less frequently as well as oral medications.
And in the animals. You see only after days of those daily injections that you get these remodeling effects and whether it's the brain or the heart and so on. So it might not be able to do it continuously might do it for a burst. And what did the mice end up dying of
we sacrifice the mice. So we have not done because you're not gonna have Alzheimer's or coronary artery disease, type two diabetes and muscle wasting. But something happens does this cause cancers or liver failure or what actually happens after we repeat GD and people or mice, we need to do studies where we allow the muscle mice to live over periods of time and study whether they get cancers over time. So all that we know to date, we haven't seen any science of cancer. And the only reported in the literature is a tumor suppressive effect in a very violent form of breast cancer
PDF get to the tissues that you want it to get to. So it's a circulating protein,
it finds its way to the tissues through the blood supply, which touches everything. So
when you're pursuing for different development path before different indications is the exact same protocol.
Yeah, so we need to figure that out in humans. But right now, in the animal studies, we're using the same dosing the same once a day injections
and I understand the focus on regeneration, but is and I apologize for the unsophisticated question. But is it possible to apply it to actually slow down the aging process as opposed to just being regenerative once there is an issue? Yeah,
so I think we don't know for sure. Because there's been very, very few studies like that there are species mammals and some inbred minds. But I've seen kind of correlations to longevity. And there's a power BIOS experiment that was done several decades ago, where there was some some medications that you live healthier and longer.
Can you guys comment on the series of studies published after your original studies, suggesting that GDS measurement is hard and that it might not be the factor that differentiates old and new blood? Yes,
there, there is no question. He gt f remains a subject of lively scientific debate. Let me say that
our co founders stand behind their studies. They've repeated their studies with other researchers. So there are open questions. One of them is what is the age related direction of gt F. So we now know using mass spec that gt f total levels are constant with age. We also know what we measured in our studies, which has also been measured in humans decreases as we age. So the key question is, what is that measuring and will be publishing on that soon. And, and I think that is also showing longevity increases in mice from other proteins, Unity has been developing one that seems to be an oil agent that appears to work, what makes this different, more effective than the other longevity targets? Yeah, so great question. Um,
there are many companies that are targeting aging, and they're targeting, knocking down damage in various forms of molecular damage caused by aging. So an example of unity, senescent cells is a form of molecular damage, mitochondrial damage is another DNA integrity is another The problem is that there are many forms of molecular damage. So even if we're successful in knocking down one we're going to get disease and death from another are restoring regenerative capacity, which is a more root cause. And we've shown that we can repair gt f can repair multiple forms of molecular damage.
Other thing is that it's a natural protein. So it's not a new molecule, that reintroducing something you already have,
why isn't the right answer a cocktail? It seems like there are likely to be many factors related to Bob's question,
why, maybe, and I don't want to say this is the silver bullet and the only thing that you'd ever need by any means. Okay, what I am saying is that we seem to be targeting a more fundamental root cause by stimulating the repair mechanisms of our body or you prices that an ethical level that is affordable to all people are only rich people be able to afford to be fo open. In fact, that's one of our core values is to make this accessible to humanity. All right,
that seems like a good note to end on. One more round of applause for a Elevian.
Anthony, what's on fire?
Yeah, I don't know. Does anyone know it's I think we, I will. I will pick one judge will carry out I think probably shoes, but if it gets any worse, but I think we're okay. I right. We're alive. Yeah, it's great. Everything's great. Don't worry about it. Don't run someone unless we start running. Okay. All right. No, we have two more startups. The next one is Nutri gene presenting for Neutrogena are min Fitzgerald and van Duesenberg
years ago my aunt died of diabetes and colon cancer. It shook our family. I started reading everything on diabetes and found that genetics were only a minor factor. what's truly responsible is how your genes respond to the environment based on your lifestyle choices. I became a personal trainer and a holistic health coach and developed personalized plans for each of my family members that were pre diabetic. We lost pounds in six months. And our lab tests came back healthy from poor
it's not just us
of Americans have a chronic disease and we spent trillion per year to manage them
trillion by worldwide
nutrient deficiency is one of the leading contributing factors for chronic disease,
but hard to address because we have unique metabolisms person to person
and today, you have to be symptomatic for years, then see a physician get your deficiency diagnosed and receive a mega dose. But afterwards your lifestyle resumes as if normal but there is a better way to take health into your own hands. Introducing Nutri Jean we take your health personally were the first company to create bespoke liquid supplements based on your data as a subscription service. Let's show you how it works. Move to the demo, please.
The first part of a personalization takes basic information to create a health profile such as your age, gender weight and height, as verified by my co founder, Dr. Ben Duesenberg PhD from Stanford and researcher from the National Institute of Health our personalization is based on decades, peer reviewed research that shows personalization treatment using BMI, genetics and gut biome is more effective,
you can upload your HIPAA compliant data to our server lab data genetics as well as blood work and we create your bespoke liquid supplements.
So this is what you get in the mail. Can we see a close up of the box
great. Back to the demo, please.
You also get a metabolic report that shows how well you break down different nutrients based on your genetics. This is actually my report. So the high scores and green indicate that I'm efficient based on my genetics, but the low scores and read indicate there's areas where I may be less efficient and have issues, breaking down or metabolizes these nutrients. So with these results alongside recommended bloodwork, we can work with you to change the doses and version vitamins that you have month to month back to presentation.
Our team of geneticists and health practitioners met at NASA Ames combined, we bring over years of experience in consumer manufacturing and health science research from the National Institute of Health.
Our patent pending system that we call gene instantly integrates all of your data from your genetics and lab data to create your bespoke supplements, and dispenses it automatically our patent pending process derived from cost prohibitive pharmaceutical machinery known as lymph systems.
But gene can do much more than this, we can tailor make any other product from cannabinoids to over the counter medications with their exact setup.
Today, consumers buy generic doses of supplements from places like CVS. They're cost effective and cheap, but they lack efficacy and personalization competitors that sell monthly subscriptions of supplements such as care of us prettier pill packs, but these stand the same standard dosages and putting them into these pill packs with your name on it. They call it personalized. But everything there is exactly the same dosage.
We're using technology that was previously only available in biotech applications and providing it to consumers. So every single order is unique just as you are and it changes with you month to month
we're starting with the 2 billion liquid supplements segment in the United States. This market it's primarily taken by consumers that need supplements to survive due to deficiency or surgery.
And since launch we've grown over 20%
cumulatively per month we've collected over 2000 health data sets and we've delivered over 8500 doses all over the United States
customer spends on average $125
per order and 65%
of them stay with us after feeling the effects within the first two weeks
our next steps are to work with diagnostics companies to build and scale
so get started today and go to my nature
and get off your first month if you enter TC disrupt so take health into your own hands with Eugene
I don't mean sound skeptical right out of the gate. But by and large everything I've read indicates that you excrete the vast majority of supplements and vitamins that you consume Is there something about the form factor whether it's liquid or or something that makes that not the case with your product.
for us, we take into account the fact that it's liquid so it's miserable we also make it in the liquid form factor immediately after a person orders and we measure it on him aspect as well as other Spectre photography tree to make sure that the content that's in there is not degraded. So a lot of vitamin space when they sell you vitamins is mostly degraded about of the product after six months of production by
However, in have been degraded before it hits the shelf. So this is why you hear about the expensive p for us. What we care about is the quality, the purity and the bio availability, which is the ice for about the vitamins by the time it gets to so making sure its potency, we also care about the data associated with it, ie blood work to make sure that the efficacy is being shown through your blood work and improving your nutrient deficiency.
I'll grant you that patients do have deficiency and that they need supplements. But I'd posit that, you know, I'd humbly posit that in most of our primary care clinics, I only prescribe in an already personalized way. I only give full late to patients who have fully deficiency I only give be to patients who have B deficiency vitamin D the same as already true. Why is this more personalized than treatment based on a blood level? The nutrient Yes,
status quo? Great question. Um, Photoshop practitioners actually come to us asking for a service like this in terms of liquid form factor as one and two, combining different elements of vitamins that work together in concert. So what I've heard through other practitioners typically prescribe people vitamins is a mega dose. So I use or I use of vitamin D, what we provide is actually lower dosages and in conjunction with vitamin K calcium to actually work in concert to effectively give you the right level vitamin D in your serum for us. What we're looking for is not this overdosing of vitamins prescribe not only the different dosages but the formulations is put more care into to make sure people are actually improving for a long term, not just the immediate term. Can we talk a little bit about the unit costs of the box say said your average order value is how much does it cost? create that to send both in terms of what they need information they need to give up front? You need to gather that and then the actual manufacturing? Yeah,
that's a great question. So we actually developed your own system in house as a way personalize at scale. Currently, our margins are about higher than industry average for consumer product verticals, what is
we can talk more offline. Yeah, at the back side. super happy.
for for us that we made sure we wanted to bake in the costs of it. So that includes all labor, shipping actual production, the raw materials,
yeah, running the equipment and everything to get it out the door. And why do you see to V very it ranges. So actually, what I wanted to mention is the subscription start at a month, but it varies depending on that personalized package that the individual ends up getting
delivery, right. So you have a churn. Yeah,
yeah. Why now what's the hot,
the churn is actually still stabilizing? quite a bit. So we've only launched at the start of the year, what we found is we started getting subscribers at about March because we didn't have that setup, yet. That churn is actually vast majority of it happened between the January and March timeframe when we actually didn't have that in place to go back, get unsubscribe people to subscribe is more challenging than starting with a subscription service, because you mentioned the retention was
after two weeks. What about the people that you had in March? Like how many of them are still up for every percent?
Yeah, so it's
you were off with the premise that nutritional deficiency is a contributor to chronic diseases, which are the diseases that you believe your influence with this program and why Yeah,
actually a very interesting market for that, that came to us. For instance, the bariatric patient population,
there's over surgeries that occur every year for bariatric patients is also these, these patients actually require supplementation to survive post surgery. Also, the liquid and absorption is important factors because it can no longer take the solid we're starting to work with more niche demographics such as that population needs. I take the quiz, I send them my and me and bloodwork
Yes, yeah. And do all of those things. Yeah,
what would I need? Yeah, what
do I need? What do you need? So a base it you can actually go through that personalization process, that health profile with information you have. So BMI, lifestyle characteristics, whether you smoke, and then you augment it now, how many combos Do you have right now? How many company we have different? We've actually have unlimited types of skews, like we have not shipped a single unique order or sorry, on unique quarter. Every order has been unique. Anthony, I have to ask one question that everybody wants to know, real quick. What does it taste like? Yes. Yeah,
that's a good question.
It actually, the more efficient you are, we've gotten feedback saying people it tasted better. And then as you become less efficient, it tastes a little bit worse. But we don't add any sugars or fillers to it. Just a small amount of citrus extracts, so it tastes slightly citrusy, but it's pretty potent. It's like a tonic. All right,
give it up for new gene.
Okay, have one final company presenting this is our wildcard startup. What that means is they were chosen from the startup alley and they found out they're presenting I believe, about hours ago. So they've had to put things together very quickly. Be kind, be generous. And this company is origami labs presenting our Kevin Wong and Marcus Lang Shay.
My dad happens to be visually impaired since years old. He's he's been an inspiration to me every single day. From the way he breaks through social barriers to how he's dedicated his life to helping others like him
by but as talented as he is, it's always been hard for him to use smartphones because the touch based screen based devices and that's why I origami labs we've created already a ring that turns your hand literally into a smartphone.
Now the design process is funny. We started out creating device that meet the needs of visually impaired people. But in fact created something that benefits a much broader audience already is a ring the sense sound as a vibration that passes through your finger directly into your ear. Only a single user can hear it picks up your voice with a microphone on the ring and is connected with voice assistants like Siri, google assistant and Alexa now with our custom software. Or we can not only take and make a call, but send read out text messages as well as do translation amongst much, much more. Now, what is it like to use Ori? Well, like they say hearing is believing. So Marcus and I are going to run really quick live demo, please start the demo.
So as you can see here, there's a two phones, markers and my phone. And we're going to do two quick demo audio and Mike demo with a voice assistant as well as sending a text message. Now note that because we're using bone conduction audio can only be heard by single user Marcus, but he won't be looking at his phone. So there's no cheating. So now Marcus is going to use Ori to answer a difficult question first. So how about a difficult math question? So what is times
and now you can see the answer on the screen. Marcus was the answer.
Great. Okay. So through his finger, he was able to hear the answer. Now let's do a little bit something more complex. Let's say Marcus running late for that investor meeting. And he has to tell me that he's running late. So he just clicks a button touches his year and says
send a WhatsApp to Kevin saying I'm running five minutes late
and that's typed out. And now this audio interfaces working through his finger, all he has to say is send it
and now through the magic of the internet that will send to my phone on the left side. Hopefully just about
Yes, the message I think should be received on my phone sometime if the Wi Fi is connected. Great. Can we go back to the slides please
Ori powerful two way private communication device
and voice assistant technology. It's it's already here. And it allows us to interact with them in a private and discreet way at origami labs we already have one granted patent which covers the application of bone conduction technology on the finger it allows you to use private communication through vibration and then another three patents were filing provisionally
now our compatriots you know Apple Google Amazon they've pushed smart speaker adoption to an astounding
but they're stuck stuck because they're stuck in a speaker on your kitchen or the dashboard of your car on your phone that's this last in your pocket or your bag with Ori
we create a comfortable always on you private communication platform. That's just one touch of the year away
now or sits comfortably between two very promising markets, the wireless audio market and the smart speaker market. And just conservatively estimating the US and China markets alone, we're looking at a billion market opportunity.
And we're well on our way there just launching a couple of months. We already have 3752
pre orders across the different countries.
And we have some great pilot use cases with peninsula hotel, four seasons, Mandarin Oriental, where they're using Ori as a private communication device amongst teams, as well as a voice search tool.
And now we're finally ready for global launch with announced partnerships with SoftBank, t mobile and other global telco leaders, as well as some crossovers with Burberry and Chanel. So we're well on our way to our first hundred thousand units sold by the end
now or is priced very reasonably I know your question is only US dollars
enterprise side will be paying roughly US dollars per month. And we'll be doing all the integration with their platform of choice. And imagine that is the future as always processing power increases, as its memory increases, will be able to power applications directly on the hardware itself, and create a completely new hardware development platform.
We've got a diverse team and retail experience advertising, as well as research and development. But this brings me back to a very core team member or technologist, my dad, my dad is not just visually impaired, he happens to be the founder of accessibility team at Microsoft, he built the world's first talking computer in the early with Bill Gates.
And he has inspired us to think about or in a new way that or is more than just a sex accessibility product for the visually impaired. But in fact, it's a new private and discreet way interacting with our coming voice based world. So join us, we're looking for distributors, and of course, new investors
with or a one day YouTube will find your voice Thank you.
But I know there's got to.
So it's a the pricing is based off of some of the existing hardware that they use like walkie talkies which is roughly around 42 us dollars a month. So we're just pricing slightly above that
there's private communication, as well as some smart capabilities as well. So for example, one of the new applications we're building is you double click a button and you'll do a limited voice search on basically, let's say, I can say, Tell me when room checked in and then it will be able to tell you through your finger, something like that. Why are
you need to be instead of direct to consumer
are doing well, originally, we were direct to consumer, we were just received so much strong interest from because people that were buying our rings were this goal. Yeah, yeah,
some of the customers, I think that that line in consumer hardware between consumer and enterprise is very blurred. A lot of the customers that were buying our rings were actually enterprise clients. And so they bought them in bulk, then we had to build out the software to help them. They were piloting themselves, basically. And so we just jumped into help,
I don't want it distracting. The q amp a demo, like the sound
quality is actually surprisingly really good. Yeah, that's something that we're, we're worked really hard on, we have about k frequency response, which is just about as good as your normal headphones. A big part of that is we've shrunk the size of the vibrating actuator, so that it can produce a high fidelity audio most of time with vibrating actually does. The main problem is that you're better at the base, very weak at the treble side of it, because it's much smaller, we have a better time of handling basically designs without it gets louder than that is that the volume you can readjust. So we're working on some dynamic dynamic audio basis of sort of your environment you're setting,
I'm still stuck in this month thing? Well, why do you think consumers will pay for that
not consumers? The Enterprise enterprise or paying?
Yeah, what we naturally would want to know what's the bomb?
I got it.
Nobody wants to answer that
we make about four times. Yeah,
four times our bomb cost right now. But we're targeting to to improve the manufacturing reach about five to six times. I think that's sort of a golden margin
outside of hospitality. What other verticals and industries do you think are addressable?
Oh, yeah. So one of our new investors a sort of owns a restaurant group, the next space, and we're going to be moving into his restaurants. And I think healthcare is another very interesting side as well. Marcus is a graduate for now, john hopkins, and we've had a lot of connections with different hospital hospital groups. So that's something that we're exploring, is it one of the many users or one to one, it's on the enterprise side is one too many. So it's a push to the software is different behind so it's push to talk, and then there's different channels, and then you can talk on channels on the consumer side, it's one to one mostly, does it vibrate to know that there's incoming audio? Yeah, therefore, vibrations that can indicate different things?
Is there any path to making it more hands free, or having to use your hand less for the duration of the conversation?
Yeah, so we think of this device is the master of the second interaction. So it's, you know, for quick communication purposes, it's not meant to, I think, as a wearable you need to think about how you fit in the ecosystem, and not about replacing things
for now. That's what we're doing. But we're working on some pretty cool new products that help solve that problem. I love to show you battery life right now. It's one hour and a half direct talk time in hours. Standby, you mentioned
the pre sales, do you have actual product in market, if not ones that happening?
We have product market in Hong Kong, Taiwan, and now Japan is launching in October, what were
the things you learned from your first launch
firmware? I think I think the just the range of the different kinds of phones, where's more than we anticipated? So originally, we did, you know, very mathematical approach, which was we supported like, of phones that are out there and without, I know, that's pretty good. But But no, yeah,
yeah. So we had to, I think after we launched, we updated the, because thankfully we have LTA over the air update for the hardware. So we're able to sort of catch up on that in the next hours after lunch.
When do you watch the united states
don't have plans for that yet. But that's why we're here at TechCrunch. And if
one of the large tech companies tried to buy it, would you accept an acquisition offer?
I think it's about whether or not they align with our vision. So if they can help us execute our product even better than we can. And I think that's something that we're always open to, especially sort of amongst our founders, I think we all are from different walks of life, but all have a very central vision, which is to be able to create impactful products that are true and novel. How much did it cost you to get to this point,
our previous run we're Hong Kong team, a previous investment was led by Alibaba. And so we've gone through most of their investment roughly about
well, total seed round is about half a million US
Alright, one more round of applause for origami labs or walk first startup
wraps up this session of the startup battlefield. Our judges are going to follow me backstage and they're going to help us choose our finalists. Before they do though. Let's have one final round of applause for our awesome judges.