About Cobotiq
Cobotiq, a startup specializing in the development of autonomous robots for cleaning services, approached GENEDGE with a high-priority need: secure adequate funding through a well-defined business pitch and an initial pilot to prove their commercial concept. Cobotiq aimed to leverage advanced Artificial Intelligence (AI) and Simultaneous Localization and Mapping (SLAM) technologies to create robots that can routinely, efficiently, and autonomously service various environments throughout commercial buildings.
Addressing Challenges
To support Cobotiq in securing additional funding for scaling their manufacturing operation, GENEDGE coached Cobotiq through to two critical components of their growth roadmap: providing feedback on a compelling business pitch and preparing the Cobotiq team on what to expect when it comes to securing a small business loan.
After completing a preliminary assessment of business operations, strategic growth plan, and supply chain requirements, GENEDGE consultants provided tactical insight on details to include within their business pitch based on different types of investors. Among other critical components of their business pitch, emphasis was placed on:
- Risk & mitigation strategies: acknowledge potential risks and challenges the business might face internally and externally, and outline strategies in place to mitigate these risks.
- Traction & key metrics: showcase any traction gained, such as customer acquisition, sales, partnerships, or product development milestones. Also, provide relevant metrics that demonstrate growth and potential, such as user engagement, customer retention, or revenue growth.
- Return on investment: One of the most important variables for investors, specify the equity stake that is offered in exchange for the investment and detail the potential return on investment for investors, including any exit strategies (e.g., acquisition, IPO).
The Results
As a young company operating in a capital-intensive domain, acknowledging and detailing the aforementioned points was of critical importance in cultivating the confidence needed to secure external investment.
With a thorough review of the business along with a detailed discussion of points to include in the business pitch completed, GENEDGE consultants primed the Cobotiq team on what to expect when progressing through small business loan applications. Cobotiq received step-by-step insight on possible feedback, potential scenarios, and how they can proceed based on a given outcome.
GENEDGE’s strategic approach supported Cobotiq in navigating the complex funding landscape as effectively as possible. By leveraging in-depth business analysis and tailored investor outreach, GENEDGE played a pivotal role in coaching Cobotiq on avenues to secure capital for the startup’s growth.