Sramana Mitra: Let’s talk about your financing strategy. How have you financed this venture? Cary Breese: We’ve been a little unique. To start, we raised a seed round of funding from family, friends, and advisors. We ended up raising $3 million that way over two years. From just a family and friends network, my co-founder
Daniel Cohen, General Partner at Viola Ventures, discusses AI, PaaS and Deeptech investments.
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Sramana Mitra: My next question is something that we touched upon a little bit when we spoke some time ago. In the fund strategy, one of the things we’re seeing is that there is a class of funds that is still focused on finding unicorns. They are looking for the very large billion-dollar opportunities, but
Today’s 519th FREE online 1Mby1M Roundtable For Entrepreneurs is starting in 30 minutes, on Thursday, February 11, at 8 a.m. PST/11 a.m. EST/5 p.m. CET/9:30 p.m. India IST. Click here to join. PASSWORD: startup All are welcome!
Sramana Mitra: Where were these customers coming from? What was the customer acquisition strategy? Cary Breese: We knew that the point of sale or service for pharmacies is inside the doctor’s office. When I was in the doctor’s office, he was the one who decided that I was going to get a prescription. It wasn’t
Sramana Mitra: If you were to look back on the 30 companies that you invested in, which ones are concept-stage ventures that you have invested in without anything already built? Venktesh Shukla: Practically every one of them. Sramana Mitra: Very interesting. That’s actually unique. I’m going to give you some feedback on what’s happening in
Sramana Mitra: When you started digging into this problem, what did you learn about the competitive landscape because, today, online pharmacies are present. Cary Breese: What struck me immediately was that the products themselves that pharmacies maintain in their inventory are fairly non-perishable commodity items.