Hi. When are you going to market? What are your revenue goals (not projections) for the 1st 5 years?

Hi Leonardo - Thank you for your insightful questions! We are already brokering flights with 3 trusted operators in the Pacific North West USA but have the ambition to operate our own networks so that as we grow we can ensure the safety and compliance control aspects critical to commercial flight operations as we scale the business. Established networks are also critical to enable the software to scale. This really leads onto your next question since the revenue goals are align...

Why did you choose to raise through a common stock instead of a SAFE or preferred stock? What are the situations I can get returns?

Maxine, thank you for these questions. With respect to your first question, we are actually selling preferred stock in this round, not common stock. We selected preferred stock because it has the advantage (over a SAFE or convertible note) of providing investors and the company with certainty as to the valuation at which they are investing. It also provides investors with certain advantages over common stock. The general terms for our raise can be found by clicking on the “see more terms &amp...

Do you do background checks on passengers? What is your exit strategy/how and when should I expect a return on my investment? How do you differ from your competition?

Thank you Tal for your questions! In terms of background checks, we currently operate only as an air charter broker – meaning we connect our customers with several trusted aircraft operators, who perform all required screenings. We are in the process of obtaining our air carrier certificate to allow us to operate our own aircraft, at which time we will perform all necessary passenger screenings. These are non-intrusive and include things like ensuring the passenger does not bring prohibited i...

Thanks but can you translate that into numbers? That would help me decide whether to invest or not. I understand revenue goals are not guaranteed. Also, why such a high minimum? I believe you'll get much more traction with a lower amount, maybe 200 or 300...

Hi again Leonardo,Thank you for more thoughtful questions. Appreciate that you understand that projections are just that-- projections. However, we've outlined these goals based on (data, data, data) so we are confident in our approach.The numbers look like this:KinectAir Anywhere in 000sYear 1 - $782Year 2 - $1,564Year 3 - $1,955Year 4 - $3,910Year 5 - $7,820KinectAir Together (rounded down to nearest million and based on one fully established network of 13 aircraft)Year 1 - $91mYear 2 - $13...

Why hasn't your business made any money yet?

Great question, thanks for asking. We have sold flights and have some revenue coming in. When we say pre-revenue in a startup, it often refers to a term used to arrive at a pre-money valuation. We will post our flight data in response to your question soon.

KinectAir

Personal planes booked on demand from airfields nearby; optimized with software

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kinectair.com

Vancouver, WA

Travel & Tourism Entertainment Service Transportation

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Peter interviewed KinectAir on February 22, 2022. Play Video

Peter Harris

Founding Partner at University Growth Fund, an early and growth-focused venture fund with $90M AUM. Over the last 15 years I've invested in over 100 private companies including OpenAI, Carta, Airbnb, Spotify, Instructure, Workfront, Postmates, & Wefunder.

Strengths

says, "I love that the team has experience raising capital, building a business, and selling it. There are a lot of intangible things that come with that type of experience. I think they are smart to employ the pilots directly and there is likely a huge market opportunity if they can truly crack market inefficiencies that exist in this space."

Advice

says, "Building double-sided marketplaces are super hard, but incredibly rewarding when achieved. I worry a little bit about the complexity of maintaining aircraft to high safety standards and creating a consistent experience for customers. I can be done, but there is a lot more complexity and perceived risk here than taking a Lyft or booking an Airbnb."

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LEAD INVESTOR

Invested $50,000 this round + $1,200,000 previously

As an experienced operator in transportation businesses, a director of a major Asian airline, and more recently as an investor in early stage companies, I am excited by KinectAir's ambition to "Open the Skies" and transform the future of aviation into something more accessible, more enjoyable and more sustainable.

I have enjoyed getting to know and work with Jonathan Evans. He is an experienced entrepreneur with a track record in innovation and software development, having sold his drone software business to global giant Verizon. A mark of his leadership is shown in the team he has built at KinectAir. Many are entrepreneurs in their own right (over $41M raise for previous ventures with multiple FTSE 500 and PE exits). They are all passionate about the mission with the capability needed to deliver a safe, sound and profitable operation.

What we have seen through the pandemic is that business can be done from anywhere. This could fundamentally change travel patterns towards options that value time and personal space. Meanwhile, the economics of the traditional air transport business continues to drive service providers to focus on pursuing economies of scale in an attempt to drive down unit cost. Frequently customer experience has paid the price.

KinectAir approaches the business in a different way. By making the best use of under-utilized assets (airplanes and airports), combined with intelligent AI-backed software, they will optimally match supply and demand to provide customized travel solutions on a 'on-demand' basis, while keeping operating costs competitive and prices accessible.

In my eyes, KinectAir's model will provide a completely different travel experience through nearby uncongested airports, served by ground and air staff who are passionate about delivering a truly customer centric experience.

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