Kanapé Pitch Vol. 54 | Jared Schrieber on how to create a unicorn + Zsófi Tóth on Volteum
Jared Schrieber | Revolution Robotics Foundation ( 0:00 – 23:53 )
Jared Schrieber is a US born, Budapest based serial entrepreneur and angel investor, who successfully exited his unicorn state startup Infoscout later called Numerator in 2021. Jared’s mission is to help the Hungarian ecosystem rapidly grow to a level comparable to the Estonian and Lithuanian ecosystems.
He started his entrepreneurial career in Silicon Valley with by launching at an early-stage startup in 2005, and in 2012 he launched his own startup, InfoScout, to collect product purchasing data for consumer goods brands by involving customers through an app in a gamified manner.
The app came to life by first Jared visualizing what it would be like to use your phone in a retail environment focusing on the merchandising task. As his co-founder joined and started exploring these ideas, asking questions themselves, and constantly improving the product. In the end, they came up with the right user friendly solution for capturing and consumer panel.
Sitting on Tokeportal.com’s sofa, called Kanape pitch series, he talks about the difficulties of finding an investor in Silicon valley, It took them 6 months to find an angel investor and another 5-6 months to raise VC funding. His advice is to focus on the angels in the early stage and then the VCs.
The company prior to InfoScout was called Retail Solutions. They asked retailers to share their point of sale data, what sold for every product, every day, at every store, with the brands that sold products through them so the brand and retailers could work with the same data and the same insights for forecasting for pricing for running promotions. Many big companies asked them questions that could only be answered by consumers. That is where they realized that there is not enough data on the consumer point of view. So they applyfied and gamified the experience of consumers participating in sharing data of all of their purchases via a panel track, by taking pictures of their receipts and getting a gamified reward for the data. This way the companies could learn the market trends, the market share, and a lot of other information about competing brands and who buys their products.
About the exit: ”We raised a Series A after a year, traditional venture capital, bain capital ventures, a year and a half later we raised from a strategic so a company at a global scale that would have been a competitor and quite frankly now the owner of the company this many years later. And so we raised our Series B that gave us a lot more cash a lot more runway, we kept growing. We explored Series C from traditional venture capital, we did not like the terms, we ended up doing venture debt instead, which turned out fantastically for us because six months later we had some very nice acquisition offers and decided to take a majority buyout, keeping skin in the game ourselves and continuing to grow the company with a new majority shareholder, and that majority shareholder is vista equity shareholder so they are the largest software investors in the world, they own about 40 major software companies about the size of oracle in terms of software revenue at a global scale. They kept investing in the business and we kept growing it and realized a full and complete large exit” in august 2021.
He is currently working on the Revolution Robotics foundation and robotics competition in Budapest. He is doing angel investing in the Hungarian startup ecosystem and writing a book on how brands grow what makes the winners winners and what makes the losers loosers. The book will be titled Break out brands and will be published later in 2022.
Syrius ( 23:54 – 25:53 )
Zoltan Toma, founder and CEO of Syrius, followed up on news of the welding company and it’s ongoing crowdfunding campaign:
- The campaign has entered to an open phase with the investment of HUF 10 million of the lead investor. Csaba Kondorosi. Csaba will soon be introduced to the other investors.
- Syrius recently held first in person , on-site investor meeting in Miskolc, North of Hungary, which went very well.
- They participated in the 31st International Welding Conference, where they informed other participating organizations that Syrius had been transformed into a private limited company by shares, making it it an investible company . Besides, they had promoted crowdfunding at the event.
Do not miss out this extraodrinary investment opportunity!
Fehér Nyúl ( 25:54 – 27:50 )
Melinda Laki, the brand manager of Fehér Nyúl and the campaign owner of crowdfunding, signing up on behalf of the Fehér Nyúl craft bewery.
- She announces, that the campaign has now been launched in closed phase, so pre-registered investors can now indicate interest to own a cool craft beer brand.
- She explains that they care very much about the community, so they would like anyone who invests in them to care and help the the brewery brand grow.
- She adds that in return for a minimum investment of HUF 50,000.-(~ EUR…), investors will receive various discounts and even a tasting opportunity of the new brews.
- Finally, she points out that those, who invest a larger amount than HUF 1 million (~EUR…) can enjoy even more special privileges and rewards. Check out the campaing side!
If you don’t want to miss out to be a craft beer brand owner and a community like this, invest in Fehér Nyúl!
RECASH ( 27:51 – 30:01 )
On behalf of RECASH, Balazs Zador, Co-Founder and Executive Director, summarises the results of the recently successfully closed campaign.
- RECASH’s campaign is the most successful crowdinvesting campaign in Hungary so far, in which RECASH raised more than HUF XXX ( in EUR…), from 437 investors and reached 140% of the campaign target.
- He thanks his investors for their confidence and accentuates that they will continue to work with the same intensity to achieve success in the future.
- He explains that their future plans to use the capital raised here include primarily marketing and sales activities to increase the number of users, which could contribute to the next round of larger investments.
RECASH thanks all its investors for their trust!
Zsófi Tóth | Volteum ( 30:02 – 47:34 )
Zsófi Tóth, co-founder and CEO of Volteum, graduated from the Technical University of Budapest as an energy engineer and physicist. During her university studies, she founded Volteum with three other partners, with whom she recently returned from the Techstars mentoring programme.
She tells about her story.
- How she and her 3 other co-founders set up Volteum.
- How Volteum optimises the operation of electric fleets for companies, from route planning and charge management to the overall operation of the fleet.
- She will also talk about how the company started to pivot the business model based upon the feedback by the first clients and mentors successfully.
- She highlights the benefits of working with Microsoft for Startups and the successes they have achieved together.
Finally, she talks about getting involved with Techstars, working there and about the investment they have made.
#Get to know our guests
Get to know our guests!
Jared Schrieber | Revolution Robotics Foundation
Tóth Zsófi | Volteum
I am the co-founder and CEO of Volteum. I graduated as an energy engineer and physicist at the University of Technology, and founded Volteum with three other partners during my university studies. With Volteum, we optimise the operation of electric fleets for companies, from route planning and charge management to the overall operation of the fleet.
Find out about the investment and sponsorship campaigns that are up and running! Be part of their success and support good causes!
Our campaigns that are currently available:
- Syrius | Time to conquer the heavy industry and the machinery market
Pre-register for our campaigns in preparation!
- Fehér Nyúl | Become craft beer owner yourself! Let’s write the next chapter of the history of Fehér Nyúl together!