Sramana Mitra: What year did you get funding? Anand Mahurkar: Late 2017. Sramana Mitra: This was after how long from founding? Anand Mahurkar: About six years. Sramana Mitra: You had substantial revenue already?
Sramana Mitra: Did you learn that there was this segment that has this need in the shipping segment? Tom Walker: Port and port security. The problem at that time was there were so many industries that we knew could use it. I’ll give you an example from the insurance industry. A storm comes through an
Sramana Mitra: In launching this company, did you bootstrap? How did you get the company off the ground? Anand Mahurkar: It was bootstrapped. I had a $10,000 bank account. Probably we are the only enterprise AI company that is profitable and revenue-making with no debt. I bootstrapped all these years. I got my first customer
Sramana Mitra: Tell us how the side project turned into a business. Tom Walker: I’ll tell you a funny story along the way. We had some people join the organization as volunteers. A retired CIO from a large company came on board. We were trying to build something, but we didn’t know what it was.
Evan Zimmerman, Chairman of Jovono, discusses his fund’s investment philosophy, especially around pre-seed and seed.
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. There’s a GIGANTIC myth in the startup ecosystem. Go BIG or Go HOME! Raise GOBS of venture capital. Otherwise, you can’t build anything big. It’s GIGANTIC BS! Watch this inspiring 2 minute 09 second video and learn how the Turakhia brothers have created over a billion
I always love doing stories of my readers. Anand has been following the blog since 2010. He has built a terrific, fundamentals-focused AI company. And I am thrilled. Sramana Mitra: Let’s go to the beginning of your story. Where are you from? Where were you born, and raised, and in what kind of background?
The drone industry is a massive beneficiary of the Corvid pandemic. Read how Tom has shepherded DroneUp to hyper-growth from its bootstrapped beginnings and a slow start. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?