|1||Investors include Berkeley Skydeck, Infinity, Prototype Capital, Urban.us & TYLT Ventures|
|2||Key partnerships with the City of San Jose, Shopify, Rappi, Ordermark, and Olo.|
|3||Two contracts with public companies in the US to be announced in September|
|4||Advisors include Andrew Savage (Lime), Patrick Lee (Rotten Tomatoes), Ariel Poler & Trevor Darrell.|
|5||Pre-pandemic fleet of 20 Kiwibots grew to 50 — with 500 more robots in production.|
Kiwi has built a leading robotics delivery technology platform which has been verified beyond proof of concept at Berkeley and now enjoys significant momentum going into 2H 2020. The current landscape with Covid coupled with the cost efficiencies of robotic delivery and reduction in COGS should allow KIWI to rapidly expand and grow exponentially. The team is highly experienced and battle tested. New business is backlogged, new partnerships formed. This is one of our most exciting investments to date.
Delivery today is pricey. We raised $5M to make robots that have made more than 100,000 deliveries today. We partnered with Rappi, Shopify, Ordermark, and 3 other public companies that we will announce soon. Our next milestone is making San Jose the first robotified city in the world.
For every order, customers pay a 17-40% higher price due to delivery fees. Merchants experience a 20-40% cut from third-party marketplace commissions.
The Kiwibot boasts proven operational technology with autonomous obstacle avoidance sensors and sidewalk and corner location detectors. Our current focus is providing an end-to-end robotic infrastructure to restaurant chains and food delivery aggregators.
We partnered with the San Jose Department of Transportation, Shopify, Olo, and Ordermark to directly integrate with over 120 restaurants in the city. We're launching July 2020.
And the time is now as we’re for the first time ever experiencing a “new normal.”
Join our mission so we can make our delivery service faster and cheaper than any out there — empowering you to get whatever you want when you want it.
Kiwibot has financial statements ending December 31 2019. Our cash in hand is $232,561.71, as of June 2020. Over the three months prior, revenues averaged $143/month, cost of goods sold has averaged $10/month, and operational expenses have averaged $71,517/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
We provide an end to end robotic infrastructure to restaurants chains & food delivery aggregators
In five years, we want to have an installed robotic infrastructure in the 5,000 more dense zones that allow people to move atoms within 2 miles for less than $1.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Kiwi Campus Inc was incorporated in the State of Delaware in November 2016.
Since then, we have:
Historical Results of Operations
Our company was organized in November 2016 and has limited operations upon which prospective investors may base an evaluation of its performance.
Related Party Transaction
Refer to Question 26 of this Form C for disclosure of all related party transactions.
Liquidity & Capital Resources
To-date, the company has been financed with $6,000 in debt, $26,808 in convertibles, and $5,196,988 in SAFEs.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 18 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 9 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Kiwi Campus Inc cash in hand is $232,561.71, as of June 2020. Over the last three months, revenues have averaged $143/month, cost of goods sold has averaged $10/month, and operational expenses have averaged $71,517/month, for an average burn rate of $71,384 per month. Our intent is to be profitable in 24 months.
-We have a confirmed revenue of ~1.1M in the next 12 months.
-We reduced the liabilities from ~$450k in 2019 to $160k today.
-We have reduced our burn rate to about $79,000/month.
-Our confirmed revenue in the next 12 months is $1.1M and the potential of being ~$3M with additional deals in our pipeline. Our expenses are going to be between $80k-$115k/month in the short term
We have venture debt options backed by our B2B contracts and also the possibility to finance our robot manufacturing
-Regulatory: Due to the actions of some of our competitors, delivery bots have proved controversial in some regulatory environments with some cities, like San Francisco, putting out laws that make it difficult for us to deploy. If this became widespread we would have trouble going to market.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
-Business: Our business model relies on having large companies commit to minimum delivery volumes so that we don't lose money on robots deployed into the field. Should those companies be unwilling to commit, our financial might become far less sound.
-Technical: We have outperformed the rest of the market because it has focused on pure AI while we have taken a pragmatic approach. So far nearly $100b has been invested in that pure AI with little to show for it, however if there is a breakthrough we'll have less competitive unit economics.
-Hardware: Building hardware is incredibly hard, and there are few companies that have ever scaled the manufacture of robots like we intend to. If this proves more expensive than we plan, our unit economics or timelines might be adversely affected.
-Delivery: Our business model is based on a growing delivery market assuming current consumer behaviors and trends, if that changes the robot delivery model will be affected.
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