MachPhy Solutions uses Advanced Thermal Material to transform the economics around cooling -- a revolution for many industries. As they kick off their fundraise, Divya and Kahran break down the strengths and areas for improvement in their investor deck. Curious about how the deck stands today or the details of the fundraise? Get in touch at https://machphy.com/
And DM us to be featured in a future podcast -- artifacts or interview!
Either you grab them informationally or you grab them emotionally, but you need to figure out which one you want to do. Even visual highlights that pull your eye would do that.
If you are making an artifact, it's useful to think about how it will be received. Am I presenting it, or is it standing on its own?
So for the regular listeners of our podcast and people who haven't yet figured out thinking one thinking is now a video podcast. If you haven't seen the video version, you can see it on Spotify and you can see it on YouTube. Okay, so getting into today's conversation. So today we're doing is we're looking at a hardware, text companies, investor presentation, they're actively raising. And so this is quite interesting for us because we will be able to
look at a presentation that is live right now and see how that can be improved. There is a key question I forgot to ask, which is whether this deck would generally be presented, or it would be a deck that they would be emailing out to people. I think judging by the fact that they didn't ask to present it or kind of like push that at all, I'm assuming this is a deck that they are emailing out to people. But then I guess like that is a key question. If you are
making an artifact, it's useful to think about how will this be received? So am I like with it? Is this an assistant artifact or is this a standalone artifact? Yeah, absolutely. So before we go from this first page, I'm just curious, do you have any thoughts about these design choices or this language? I think they're like sometimes you want to be, either you want to be super shiny, like you need something to grab the audience,
and it's not doing that in the, so like either you can grab them informationally, or you can grab them like emotionally, but like you need to figure out which one you want to do and you do with that. And even something like visual highlights might do that, right? Like having something that like grabs your attention, I don't know, like having a light blue or having like like a contrasting color to the blue in some places would pull your eye and kind of pull you
in. Fair? Because like right now it feels like a corporate presentation, but like it doesn't position me. So like it feels serious, but it doesn't sort of anchor mean anything other than this is a sincere presentation. Okay, a thermal energy storage solution that makes cooling affordable. That makes sense. Yeah, I think if I was asking that question we asked on I think the this nickel deck, like what do I feel like the takeaway of this slide is I think this is
establishing credibility, right? Here's other logos that we would likely recognize, and it's saying, Hey, I'm borrowing from their credibility because they have talked about us. Does this say more words? Does this, so we already learned this is making cooling affordable, and now we're learning. It's a thermal energy storage solution. Yeah. Right. Yeah. So like I would say that that like they probably need a little more on this page because like that makes
cooling affordable means that like they're only adding the first half of that phrase, a thermal energy storage solution on this page. That's what I'm gaining informationally. I feel like because investor decks are so high stakes in most cases, it's very valuable to quickly communicate more than one thing. Again, like I feel like sometimes when people think more, they think about like, maybe I should add more information, but it's not always that,
but you should think about, okay, what is each piece of information doing here? So like let's say 50% of this page is right now dedicated to a lot of these logos, and you could decrease that space and it would still deliver the same promise because like if these logos are, like, you know, trustworthy, it just makes sense regardless, right? Like even if it is 25% size or something like that. And then that would also give you more space to talk about the solution
because first I need to understand what you do before I ask myself, are these people trustable? Yeah, that's very fair. Yeah, you could easily make these like take up a quarter of the room or the half the room they do today. And then that would give you space to kind of give a breakdown on like, what is this like, right? You could give the next three sub points. Because I think at this point, you would want to establish the world
first, right? Like, this is the point of before in the story, right? So like, giving people an idea of this is where the state of the world is right now, or this is the problem that we are changing because I don't know how many, I don't know how many investors will have context or anchoring in the idea that like, cooling needs to be affordable, or there is a lack of affordability in this thing. They're not using buzzwords, but they're also not like telling
their own specific story. And I think to even wrap your head around that like energy storage is the solution means that you've understood a little bit of what the problem is. And I think you're right that there we haven't understood the problem at this point in the conversation. Yeah. Okay. I still don't understand the problem. Like, I guess it yeah, so there's these are I guess now these are telling me the different
places that people need cooling, right? Yeah. And then this is helping me understand that there is a reason why this money is needed. And there is a pipeline of product development that includes this specific technology. And that specific technology is going to have a big impact on the business. Or maybe this is a collection of technologies that would result in an advanced version of this product that would have this. Oh, I think it is more that like they are promising
30% profitable increase profitability for businesses. Oh, you're right. So this is this is the thing we've already created. And we're saying that the thing we've created will increase the profitability for our clients by 30%. Profitability is a weird word. Oh, because the clients are the people providing cooling solutions, not the actual end people using the cooling solution. I'm not sure. Because now I'm like just a little bit worried about maybe we don't know if like the
people who are reading this deck, they are already very advanced in terms of their understanding of the space. So like if they are sending decks to people who are already working in like clean energy or stuff like that, maybe they do have all of those numbers, you know, at the top of their head. I'm not too sure though. Because like still, I would want to have a problem statement. Like what is the problem that you're trying to solve? Yeah, like what's the can you tell what are they trying
to do? Not in words that they have used. And you're saying just based on my knowledge from this deck or including the knowledge? Yeah, no, not from what we know of them. I guess so when we started off, I was thinking kind of like like cooling affordable, especially the like to me makes me think about like, oh, that the world is getting hotter. And so we have this need to like, you know, air condition our climates. But then when I started to see this, I was like, okay,
I'm not really sure what side that is. And then here I'm like, this is much more clearly a B2B applications. And then when I saw see this, I'm like, so maybe your your client base is actually people who are providing cooling solutions for these kinds of industries already. So it feels to me now that these are the this product is for people who already have a client base who use them for cooling. And it's it's a product for suppliers of cooling solutions. If that is true, that's not
what I used to think they did. I used to think they actually had products that like people could buy. Even like end consumers could use for like milk and stuff, but I could be wrong. And now we're going to see it. So it is very interesting, because like, I'm like, I'm obviously friends with Somya, but I'm also friends with Shrey, who I connect like I connected the two of them and they are now collaborating together. And like, Shrey has also talked to me about it, but I don't know what they
do. Yeah. And I still like three pages in the deck. And I still don't know what their product is. What the product is and what their solution is. Yeah, that's what I was. And I still know it's in cool. Yeah, yeah, I think like just a singular page before like before after the first page would be enough to do that. I feel like yeah, even when I've seen other, oh, go ahead. Okay, well, even when I've seen other really
high capital industry decks, like I've seen some space decks for a while, I'm part of this syndicate on AngelList where I've been getting a lot of like space related technology. And yeah, I mean, they always have a slide establishing the problem. And I think even on the other extreme, when I've seen kind of ones that are for, you know, like, wide scale impact on like, you know, hundreds of thousands of people and you're trying to do these
kind of like larger interventions, again, you'll have like an aside establishing the problem. And I think maybe fine, this is maybe so far in between where it's kind of like this is a very like niche market that maybe there is a lot of understanding already from the people who would be investing in the people who are seeing this deck. I still, it's not a niche market if it's a $500 billion opportunity. That's also very fair. Right. And so that's also another thing, right?
Like temperature control and clean energy. So what they're saying is that temperature control and clean energy in applications in fisheries and architect agriculture, defense, space cooling, and healthcare, just those four actually make up $500 billion, which means that like cooling has more usage. I know that cooling has more usage than this. Right. Like commercial cooling, industrial cooling, all of that, like all of those things also exist, which means the market size is probably
much bigger than that. But then I don't know what is the market because I don't know what is the problem. You know, what feels so interesting to me is I think this slide and this slide, I think are both still about establishing credibility. Yeah. Yeah. Right. Like we're back to having more logos. We're having these things of why should you listen to us? We've done work. Yeah, which is great, right? Like they have done a lot of clearly eight plus patented
products is not a small deal at all. Like clearly they've done a lot of research in a country where not a lot of research happens. Right. Like we just build like we just utilize other people's knowledge base and build on top of that. We don't really generate our own knowledge usually. This is the difference though between when you're expecting your viewer to have to listen or at least have to look at it versus
your viewer choosing to look at it. Right. So when you're expecting that the person is going to like look at it because they need to, you're going to spend more time in the initial slides establishing credibility because you're trying to get them to not, you're trying to be like this is why you should pay attention to me of the like 200 other ones that you're going to look at. Whereas I think typically in your investor decks, the dangers that either the person didn't open it
at all. And then once they've opened it, it's that they're just going to put it down. Right. So it's much more about establishing this is like, and then at the point they've opened it, you already have some amount of credibility with them. Otherwise they never open the deck to begin with. So it's more a question of not losing that kind of credibility or curiousness or interest that brought them in and giving them more hooks that they can grab onto and like keep taking
that forward versus it kind of being like, you know, I'm trying to stand out amongst this crowd arena of things you're considering. So I would not be surprised if previously they had been pitching for a lot more like grants and kinds of things. And that's what has given them this kind of opening feeling versus kind of being more of a typical investor deck. That is very interesting. That would make a lot of sense. Because then you'd also have supporting materials that would be like,
oh, this is like, you know, our two sentence version of our product and like, you know, 500 words of how will you solve the problem. But I also think that like a lot of times one can run into the problem of here is a piece of information, here's a piece of information, here's a piece of information, instead of being like, there's a certain story that I want to tell you. Yeah, you're totally right. You know, and I think the danger in that is you're letting the
person construct the story in their mind. This was a big problem I had with our own website actually early on. I remember we had many conversations about this. But I was like, I wanted to have a journey through our website. And I think early days, there just wasn't enough content to make that worth it. But then as we kind of got more developed, it was like, yeah, you know, if someone comes into our homepage, well, what are they going to do next? Well,
they're curious about something about us. So how do we give them something that's going to indulge that curiosity and ideally give them something else that then they can start hooking on to and satisfying that need or urge or emotion. And I think that's the thing that I feel like, yeah, is just we are having a little bit too much of like, these are different pieces of information and I'm supposed to construct the story for myself. Yeah. Should I come to the next? Yeah.
We're now into spring days. So the sun is upon me. Wow, we're still establishing credibility. And with an image that I have no idea what this is. I agree. What could this be? I mean, these are solar panels. And this may be something to do with cooling. Maybe these are cooling the solar panels. This is their solution. I agree. It's interesting. There's no people in
the image, which makes me like feel like they're highlighting that there's not as much labor requirements. More like, I am curious why this is there. I can't think of why because again, like it just says that like advanced to a thermal and this person is World Bank. And it's like, who are they at World Bank? Is this an employee of World Bank? Is this somebody who was an internet World Bank? I don't know. And maybe their audience knows you are searching.
Is an environmental engineer or is an environmental engineer? Been there for many, many years. Okay, great. Sorry. I can't say. No, no, I can't say. I would definitely think about like, why is this here? And I can't think of a reason why this is the kind of slide that I would maybe put at like 20th slide or something. Definitely not the fourth slide. Well, it's just, it's right. Like I feel
if I was just reading this deck, I would not have read slower than this speed. Wow. Here we actually are on a problem, right? Like it was just they would do all those slides felt like they were designed to be scrolled through, which is questionable to me. So what am I understanding? Cooling costs make up 24% of total cold chain expenses. Advanced thermal material, which is the thing we think they've made,
is among the most effective and affordable thermal energy storage solutions. These words are slightly different, which makes me think they're talking about different things, like, right? The cooling cost and the thermal, the thermal energy solution is not going to solve all of my cooling costs. It'll be part of solving my cooling cost. So, yeah. And you're saying that this material helps for that part of the cooling cost. So then, but what part of cooling cost, right? Like, it can thermal
energy solution that tackle 90% of my cooling cost, or is it only 60% of my cooling cost? Because I still got 10% of the cooling cost. Yeah. I'm objecting to this being the problem statement we're getting at this point, because it just feels like we're not defining the problem enough for understanding where we're trying to go. I feel like this is an assumption of like 80% shared context. But with most investors,
you will have barely 5% shared context. This is like, this is some like this problem statement and this page assumes that like, people know what is cooling cost, what is a cooling cost, what is a cold chain expense, what does 24% off it looks like, what are the components and where would like, you know, something like energy storage solution fit, what does it probably even mean to have thermal energy storage? Because like if you say is among the most effective and affordable,
then you're also like framing it as if there are other solutions around. Yeah, interesting. I think if I was trying to build this story, I would take these industries and I would show how they talk about cooling today, like that would be my graphic. And I would be like, you know, for fishing, cooling is 80% of, I don't know, margin or something like I would figure out some way of like showing visually like where it impacts their
business. And then being able to show that what part of that would be addressable, like I'm imagining some sort of pie chart with a call out, right? Like, and so then I'd be able to show what part of that is addressable with my thermal energy material. I also really would need to define thermal advanced thermal energy material before using it so casually. Like what is this, you know? I agree. Yeah. Which means is so like, I also feel like the problem page, like that needs to be
just the problem statement page. Right, because like here, I also feel like they're missing out on a lot of other parts of the problem, like global warming, there's is a clean energy solution. But like you need to set up the context for that. So it's not just that there is effective and there's effective and affordable solution, but it's also clean energy solution, which matters. So I feel like you're getting to there is and this is a feedback that I've given to like
companies in the past. But help me understand why is this the right time for this and why are you guys the right team for this? And I think that yeah, the macro forces are really what contribute to why is at the right time. And then the like micro forces, if you will, which is like you and your personal context and your your classmate, excuse me, your colleagues in their personal context, how have those aligned for you guys to be the people to address this?
Because then that statement of we have, we have like eight plus patented products, then it really answers the question of why us very well. Yeah. Yeah. Here we are. So now we learn what it is. It's a battery. What? It's a battery.
I think so. Maybe anything that's an energy storage is a battery. Yeah, but like energy storage is battery, but like what is thermal? You're storing heat and not electricity, maybe? Steepers are a global CO2. Is it okay because we're storing energy that would otherwise have to be generated again. So therefore it's reducing how much CO2 would have been created in order to like,
so let's say that you know, I like my, I feel like no, I feel like that is a reach. Whatever you say is a reach. About 100% like I said in the previous one also, it would be really awesome if they actually set up the fact that this is a clean energy solution much above. I feel like this is so similar to what we were thinking about with cranberry. Then like you have a good product. Like you clearly are like, you know, you have something good in your hands. You already know how to do that. Yeah. Right. Like you've done the hard part.
Like this is the easy part. Learning how to talk about it is the easy part. Yeah. Well, in their case, I feel like they were highlighting the problem, but I didn't understand why they were the solution or how they were the solution. Right. And I think here it's almost like they're highlighting the solution space and kind of where they fall in it, but not so much highlighting like, why does that solution space exist? The example I think we've talked about on the podcast a long time ago, but I was giving you the company that my brother-in-law used to work for, Snowflake.
And Snowflake is this solution that helps you back up between clouds at its core. Right. Like that's what Snowflake does. And it's a solution that exists because of the situation, the circumstances of that market. Right. Like people want to be on Azure. They want to be on AWS, but they're also nervous. So they want to be able to have redundancy. Like what if something goes down? What if I want to change later? Right. Like so because of the way that market has developed and because it has this you know, duopoly or whatever.
But there is this ability for you to like invest heavily into each ecosystem and be able to help your customers navigate kind of the best features of both ecosystems. It's the same thing as like there's these cross platform development systems that you can use to build on Android and iOS. Those exist because there's a platform play, the existence that is, you know, there's iOS and there's Android. There's two platforms. And so people can build a business about saying we're going to get the most features we can from both of them into our cross platform.
A solution. And I just feel like those things are existing because there's a opportunity in the market, not because there's an inherent need that like they're not solving a core problem. They're solving a problem that's existing because of the solutions today. And that's what I don't understand here. Is this a problem that's a core problem?
Right? Or is this a problem that's existent because of the solutions that are existing today? And therefore you have to be it will it'll work for a period, right? It maybe works for five years or 10 years, but if there's a technology like leap in cooling, we'll we'll just remove the need to have a an energy storage solution at all. Like is that just a quirk because of how cooling has historically operated?
And I don't know maybe like heat pumps will eliminate the need to like have energy storage solution because they just move heat back and forth. You know what is interesting based on what I know of physics? I think this is solving a core problem because it has a masters in physics in case any of our listeners have forgotten because like a lot of times as you change form that is where like wastage happens
and a lot of wastage is heat. So like if you think about air conditioning, right? It is using electricity which was generated using heat by burning coal somewhere. Right? It's using so like there is one conversion from heat to electricity. Then there is another conversion that is happening from electricity to cooling in your house. Yeah.
But if you could just do a energy storage directly from heat, then that would like if it is doing that kind of a thing, then it would like automatically save just by not having to do the conversion. Again, I don't know what the advanced thermal material does. But like I'm just saying that you know if it reduces the number of jumps that energy has to do, then it is automatically fundamentally better.
And like that is another quirk of the world that we are in not the human world, but like just the physical world that we are in. That like entropy increases almost everything dissipates into heat. So if you can capture some heat, then you are able to actually just on a fundamental level solve something. So I ask again, like I think their solution is very impressive from like whatever I've heard from like my friend Shreya also. I think the solution is like really impressive.
Not that I understand what they do. It's interesting you say that the way you did because I think something we do is really impressive. The way you did because I think something we talked about in a previous episode is that it's nice to give your viewer your audience something that they can read and be like, Oh yeah, I know about that. I agree with that.
And so I think right like referencing something like that, right? That like maybe you're showing how like maybe this side was a contrasting side. And so one it's showing how many transformations occur when he is normal or when like how much energy loss occurs just because how do you deal with heating something during the day and cooling it at night or the other way around. Right.
Whereas when you have this kind of energy storage solution, how much energy and then people can look at that and be like, Oh yeah, I do remember I learned about conservation of energy when I was very young. Right. And it gives you this moment where like, Oh yeah, you know, I'm here. Right. I'm like, I'm this is me.
This is my people. Like I feel seen. And I think those are really nice moments if you can create them for your audience. I would also say that like they are worrying a lot about innovated by experienced professionals. And profitability.
Like I feel like they're worrying too much about the this is profitable and it is done by reliable people. There are few like really, really few innovative products in the world. And this seems like an innovative solution. So it would be. It's a shame to not frame it like that.
Right. So like this is a hard technical problem and we have solved the hard technical problem and framing it like that is a very I would say that's like a winning story. Yeah. I think I would more show if you wanted to show this first line, right?
You can show that by showing the product development. Like what were the process of which you got here? You know, because I think a lot of time like anyone who's who's doing hard science investment or just understands the hard science process, they understand that there was a whole process of where you guys had different prototypes. And you know, there's some things that worked and you learned this and then you got here. And you want to make it clear to me as the investor at what point in the life cycle am I investing?
Is this the point where the prototype exists? Is this the point where the product exists and just need money to go to market? Or where am I, you know, like, and I think that part of my confusion over here of whether this was saying, you know, is this an advancement that's possible with my money? Or is this something that's for the client? Which it could be answered by making it clear kind of where in the life cycle we are.
Yeah, true. I would also say that like if you just like so about 40% of this is taken by like this page is taken by charging storage discharging. Everybody understands that cycle, but looking at this graphic, I can't tell where their solution fits in. Or what is the advantage? I would like really, really double highlight.
Where is that advantage coming? Yeah. And yeah, I agree. Because I think here they're trying to say a little bit by giving the statistic, but it's just too floating, you know, it doesn't,
I would use a way more like I have really felt this index, but I would use way more words than they have used till now. Like I would make this deck like double as technically intensive as it is. And I would like really focus on going deep because again, if you're raising from climate tech, like investors, they generally tend to be people who like hard tech problems.
So like they tend to like that sort of stuff also like a person who's like, you know, maybe more interested in investing in the next upcoming tick tock is not going to be the investor who's investing in this. Right. Yeah. All right.
Let's see the value proposition. Okay. Here's that 60% number again. What they do. I don't know what that is.
And that 30% of these applications built on this. Like you mean you can just use it in different places? I think that's what that means. If you have a hundred clients, why were we talking about like, I don't know, all those other random things like ways of establishing credibility early on.
Right. Like having a hundred clients is a really strong, you know, like I care way more about that than I do that like E.T. wrote about you. And also like, so generally VC money or investor money is often rocket fuel. Yeah.
And saying that like I have hundred plus clients with a strong database is like, yeah, you don't need to prove more than that that I need rocket fuel to go further. Yeah. This company Humanly, which we've invested in from Thirstmonos and was one of our early investments just raised, I think $7 million in a week.
And he was just really clear, right? They've had two incredible quarters and he's proven the model where he's at the time just closing a sale has dramatically shrunk as they've increased their volume of sales and they've increased the average order size. So it's like all of the metrics are moving in the direction you want to.
So he just went out and raised even though it's only been like six months or something since his last race, he just went out and raised right now. He only gave himself a week. He was super clear with all the investors and saying, I'm only raising this money in a week. But you know, we are here.
It was like, are you in or you out? Because he just know, right? Like it's that confidence of saying I'm at that compelling moment for this company where you, anyone wants to be part of this because this is the thing. This is where you are at the moment where the company's about to go like this.
Do you want to be in that? And it feels to me when I see this slide, especially this line, that they are here. Yeah. This line in conjunction with these lines makes me think that they are at the point of saying that this money could really, you could really see a return on this money.
Yeah. This is like a leap to the next level kind of company. Yeah. Because like if they have the tech figured out, if they have some clients, which means that it is not prototype stage, it is actually market tested.
And if I'm like correct in understanding that they are more of a B2B solution, then 100 B2B clients is crazy numbers. Yeah. Yeah. Yeah.
You're exactly right. And then I want to understand much more is the trajectory on these 100 clients, right? Like what is your monthly recurring revenue or annual recurring revenue? How is that changed over time? What is the sale cycle look like?
Right? Like how long is it taking you to close clients? Is that changing over time? Like I have a lot more questions about the clients and this story than I do about anything we've seen so far.
Like I, if people are buying the tech, you don't need to spend so much time establishing for me at a very high level that the tech works. Yeah. Because I feel like, oh, this is the problem. Like the first slide being, this is the problem.
Second slide being, this is the solution what we have built. And then third being like, we have implemented it in 100 plus situations for clients. And this is what it looks like. Then we don't need all of these. You know what?
I suspect that because they have worked, this is an offshoot of, I think they have applied for grants before. I think they started at one of the IITs. Yeah. Yeah.
So I think it is like, that's what I was thinking that I think this is a very, we were incubated in a research institute kind of storytelling. But like now you are a company, like now you are a profitable company or, you know, moving towards profitability company. So it is valuable to sort of position yourself and see yourself differently.
Yeah. Yeah. Like, you know, two clients, that's a very different story. And you have 100 clients and you're a mature company. You have gone through multiple cycles.
That line, I agree, like 100 plus clients is like, they should have put it way above. Well, and I think even just to highlight, but even more so, I think what you're saying right, which is that if you have 100 plus clients, you're telling a different story than this type of story this deck is telling. This deck is telling the story of someone who doesn't, isn't at that place.
And yeah, Shelley. Oh, wow. We have four different product offerings. Who knew? Again, the logos.
Just put them all in one page. Yeah. Seriously, if you want to, there can be a page and you can say implementation partners. You know, like research partners and like you can do them all differently. Like other, when I was at other thing, we used to have a page like that and we called out all of
them by vertical. We're like agriculture clients, you know, whatever else clients. And then I think vertically it was by the size of the business and horizontally it was by. Right. You can put all the logos there.
It is like you have. And especially like here, it doesn't need to take attention away from the fact that you have four products. Like how many hardware companies will have four product offerings? Yeah.
Yeah, I want to know the details about this. Right. How many of these are implemented? How many are in the pipeline? What is the average revenue from them?
What is like, how much profit do we make from them? I suspect that these are, if they are saying key implementation and if the rest of the story is anything to go by, these are their big ones and then there are like, you know, 99 other small ones. Yeah.
Right. And maybe they've sold a lot of these like, I don't know, I'm assuming the smart reefers and the temperature control boxes are very cheap. And so maybe they've sold a lot of those and just like one or two of these. I still think it's worth telling.
Right. Even if you're just saying there's one space cooling and you have hopes on two others, put them. Right. I would also imagine that like it is going to be really valuable to sort of map out.
Sort of map out. I would actually, because I can see that's next slide slightly. I didn't think that's a product slide. I would actually give. Yeah, it isn't.
I would actually give like a lot of space to each product and highlight the journey because again, this is a research company, right? Like they have developed their own product. They have multiple patents. So then like, you know, talking about where did the idea begin?
How did you arrive here? What was the first product? When did you start selling the first product? What was the second product? When did you start developing that selling that and so on and so forth?
And maybe like even highlight what is on the horizon because like a company that has developed like eight patents and four products is not stopping there. It's probably already like, you know, many things are in the pipeline. So it's more useful to sort of go in that direction. I would choose something, some thread and carry it through.
So I think the way they've set up, I would maybe think about the industry thread and just carry that through. So show this is the way that industry solves the solution today. This is the kind of part of the market that we think we can go after. These are the ways that our product solutions are solving for that.
And then I say, you know, I have one slide, which is just showing like how this would apply to other industries that are not as much of a focus. I'm making some assumptions here that some that there's probably some growth that they've already achieved in one or two industries. And there's just probably some growth that they still have on the table,
which is something to tie the story a little bit more together. Like how does these like how much of the market is being addressable by the different products? How much of the market exists in different industries? Like, help me fit this all these pieces together.
Or another way to do it could also be you pick a product and you just talk about its impact. So it's like, this was the thing that it replaced. So let's say smart storage. What did smart storage replace? What was the energy usage previously?
What was the cost previously? What was the cost of replacement and how much benefit like, you know, did it generate for the people who implemented it? Yeah, yeah, yeah. Because then you could start off with a question like what if cooling storage didn't have to be
just done by the 0.1% who can afford it? And then it's like, what would that world look like? And then it's like, you know, you paint a picture of that world a little bit. So you're like, oh, you know, reduced climate impact, increased profitability for those companies that have implemented it.
You know, maybe like lower maintenance because needs because of all these factors. And then you'd be like, well, that world is here. And then you're like, we implemented this in this place in this way. And then we can come to being like, that's just one of the potential outcomes of this product that we have brought to market.
This technology also can be used in blah, blah, blah, blah, blah. And then we can kind of come to saying, okay, you know, how does that technology work? Which I have 100% want them to say, how does this technology work? Yeah. So we're explaining that 500 billion number, I guess. Feel medium about this.
You know what's so interesting? I was mentioning just in passing, I have this good friend who's helping me redo my personal branding and website named Kit Culbert. If anyone else is looking for help with personal branding or their websites, he's a great guy.
He's just looking up. But he has a lot of experience in fishing because he spent his summers working on fishing boats in Alaska. And what we were talking about is that the solutions for cooling on the boats is really poor.
So he was like, yeah, like even in, you know, fishing boats in Alaska would love to have solutions like this because they basically have to take it to a processing boat, which is where it gets flash frozen and then blah, blah, blah. But, and I just feel like, I don't know, like, I don't know anything more from this slides that I could use to explain the product to
him than I did when I told him about it in high level, you know. Yeah. I would think that like one very key thing that they should ask is like, what is the takeaway from this slide? Yeah. So like, what is the informational takeaway and what is the emotional takeaway?
Emotional takeaway is maximum in the flavor of trust us, which is fine. But like, again, I don't know how this fits in my life. Like, let's say that I am an architect or I'm an interior designer. This slide doesn't tell me how I could use it. Yeah. I think that's what it's trying to do.
It's trying to do a couple of things. I think it's trying to explain this number. It's trying to explain why it's 500 billion. So it's like, because these four sectors are making up some unknown part of the 500 billion. And then it's like, also, in addition to these four sectors making up some part of it,
there's these reasons why it's existent. Yeah. But then I would 100% like actually size up the That's what I was going after. Yeah. What is the impact of these different things? Right. Help us understand why they matter.
How big are they? What part of it is going to be architects? What part is defense? Is this, you know, also like I don't think they're all on something shorter. They're also not all the same level.
So contractors and architects, they are saying that it's easy to use and defense and post harvest is more industries where it's implementable. So like defense and post harvest would be the buyers while architects and contractors would be the implementers. And I don't think that like, yeah.
What this actually needs to be doing is split into a couple of slides. So there's one feature slide, which is kind of showing us those features. And then maybe it's the same side, but then we're also communicating how do those different features appeal to the different customers and for which customers are which features particularly important.
And then I mean that market tailwinds, I think we've talked about this, but I would have that much earlier to help us establish what is this, why does this problem exist? Right. Why is it, why are we here? I think there's also some language that they may be expecting,
which I don't fully know. But like something I've learned now that I'm in getting more outside of tech investing is that there's so much focus on your contribution margins and just like how much money are you making per product sold? And of course that's a thing in tech, but it's not quite as much of a thing.
You know, there's much more focus on the market size and how much of the market you've captured and like penetration there. It's just a different language. And so I suspect that there's similarly a different language. Yeah.
On to the next. Yes. Oh, that's it. All right. Well, this and then that's it.
No more logos. My good Lord, we have more logos. What are these logos? Oh, places they've worked. Or studied.
Or studied. Because yeah, IIT, BD and EY is, okay. Yeah. So it's for each person. I'm assuming we don't need more logos.
Am I taking away from this? I really don't know. I guess at this point I was, I had just understood. Okay. So there's all these.
So you're, you're, you're explaining to me why this number is real. And then now you're telling me who you are. I guess I would expect to understand why you guys are the right team for this. But it doesn't tell that because it doesn't tell why any of these people should be working in hardware, clean tech, or like, you know, a thermal or energy related company like
doesn't like that is not established. Yeah. Like all of these logos feel in some sense irrelevant. Yeah. I think in this situation, I would more lean on the side of putting more people, right?
Like who else have they worked with maybe? Or who are your mentors or something? But like I would, I would restructure this slide completely. Yeah. I think it kind of depends on what takeaway.
Yeah. And then you're ending. So you haven't never told me actually, if you're, if this is a slide deck for raising money, I feel you would have something about what you're going to use the money for or how much money you're raising or how much money you're raising, what you're going to use money for.
What's your business projection? Yeah. What is the revenue you're currently like, what do your books currently look like? And what will your books look like in the future? Because again, if it is 100 plus clients, you have some money.
You have made or like, you know, you have ran some money. Like some understanding of that and how 100% like this feels like why is the team slide here? I need to still understand what are you asking from me? How much and why should I give it to you? Because where are you going to use it?
Like what does the money do for you? I think you're exactly right. And even if you do want to hide details until you have NDA signed or something, you can always put the charts in and just take the numbers off them, you know, and you that way you can see, you give a sense to the person without revealing kind of your,
your exact financial situations. Yeah. No, but I think ask, ask should be there, right? Like, are you looking for a big ticket? Are you looking for 10 small tickets?
Right? Are you looking for one institutional investor that's going to invest 5 million? Are you looking for like 100 people? Yeah, I think you're right. Yeah, or even, and again, I'm just like, I'm thinking about ways you can communicate that
even if you don't want to say that. And I think that I think just having some more projections, right? Like what does 2026 look for you? The rest of 2025 look for you? Like even just to fill out this deck, if you didn't, if you wanted to have it as an investor deck
outside of your ass, I think having some future looking ideas would is just useful. And I'm still trying to put my finger on why this slide is not feeling like, because I mean, often like team slides look like this, right? Fine. They maybe don't have logos, right?
But you'll often just have everyone's names and pictures. So I'm trying to put my finger on what I feel like could be better about this. There's something about that's troubling me. Because they haven't earned a connection yet. Say more.
Normally when you arrive at team slide, you have some emotional connection to the company already. Like you have some feelings about it. And the people slide either confirms or denies those feelings. Do I like the vibe of the people or do I not?
Yeah. And right now I just feel like here they haven't yet earned that connection. Like we like somewhere and even we have a very tough love approach to this deck. Yeah. Like we are very warm.
We really like her. Interesting. This was probably the most intense one that we have done until now. Yeah. Because I think this has a lot of the pieces, but has them put together in a different way.
And I guess I think contextualizing is very hard for people. Like it's just, it's hard for all of us. We just assume context. We assume people understand what we're saying. And it's like hard to remember sometimes how much it depends on the context and how much
we're not actually communicating and referencing subcontext. Yeah. But I hope that this would be helpful for Somya and Pritik. Yes. Yeah.
And we wish them all the luck in their race and maybe something here was useful for them as they kind of take this deck out to further investors. Yeah. Bye.