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February 24th, 2021 - 3 minutes reading time.
Good morning! That’s one of our favorite quotes:
"Unless you have a reliable, duplicatable, scalable and consistent way to bring potential customers in, you don’t have a business. You have a hobby!"
Mark Cuban gotta know. As a serial entrepreneur he has built and scaled many companies. Now he is on it again. Mark started “The Mark Cuban Cost Plus Drug Company”, which is dedicated to producing low-cost versions of high-cost generic drugs. They are starting with Albendazole, an antiparasitic drug that currently has a list price of approximately $225 per tablet, which Mark Cuban’s company sells for $20 per tablet. So less than 1/10 of the current price. They’re planning to introduce a lot more drugs with transparent prices later this year, cutting out monopolistic middlemen in the supply chain and alleviating pharma drug shortages, particularly for rare and orphan disease conditions. That doesn't sound like a hobby!
Stat of the day
US-tech stocks drop 2.5% before markets open. Crypto selloff sends Bitcoin below the $50,000 mark and ETH below $1,500 following critical statements about the crypto assets being overpriced
Funding stats of the day
January was a strong month for funding. The US and Europe were leading on the investment front for investments bigger than 1M USD.
Startups stat of the day
Wingcopter, Darmstadt (GER)
Wingcopter, a company based in Darmstadt, Germany, develops a cargo drone that hovers like a multicopter and flies forward efficiently like an airplane.
Why it matters: It is another step to make every existing home smarter and more energy efficient. Only use the energy you really need, which contributes to the environment and saves you money.
Our Take: Scalable product and technology with the ability to lift last-mile delivery to the next stage. We like that wingcopter has been bootstrapped and making revenues for more than 4 years - with 30 employees! - before taking on their first external venture capital.
We also like that wingcopter does not supply military and defense as their vision is to create sufficient drone solutions to save life.
However, the market around last-mile delivery is getting more and more competitive and wingcopter will need to fight on two fronts both improving its hardware and making the software business as effective as possible for a mass-market adoption
Newness factor: 4 out of 5 ⭐
Startup #2 SPAN, San Francisco (USA)
The classic and normally considered boring electrical panel in your house is finally getting smart and supercharged. Get full control and analytics over your circuits and energy consumption directly from the source. To further expand its reach to homeowners, San Francisco based SPAN has now secured a $20M investment led by MunichRe Ventures’ HSB Fund.
Why it matters:Easy to install, smart features and positive impact for the environment.
Our Take:Easy to install, smart features and positive impact for the environment.
Lacks integrations with other monitoring devices and should aim to become a platform than just another smart product.
It is a smart move offering an easy solution to make the energy source of your home smart & connected. Definitely a product consumer can see the need for. The environment definitely does.
Newness factor: 4 out of 5 ⭐
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