Is your total addressable market 3 billion or 47 billion?

Dear Mr. Tolchinsky: The total market for veterinary services (including imaging) which we could potentially serve is about $47B. However, this figure includes many small practitioners who cannot afford to upgrade to our device in the near future. We therefore believe that $3B is a closer estimate to our total available market. I hope this answers your question, please feel free to seek additional clarification.

Hi! With so much success on this team, why not build a working prototype first, then crowd fund with a higher valuation? Why so early?

We could build a system and show it at trade shows, but that would take longer. Also, we would like to reward early investors with an initially-low valuation.

I'm trying to get a handle on your projected financials and potential early growth path. A few questions to that end: 1) Projections: Your page notes "Within 5 years, our goal is to be the standard for MR imaging and MR-guided therapy in the veterinary field" and "We hope to g...

Dear Deric:Please see responses to your very perceptive questions:1. Is $1M/year a multi-year average? We expect to sell $1M per year in the first year, selling to customers who have already purchased PET scanners from our team. 2. Where do you see revenue 5 years from now, and how do you see that mix splitting out between equipment purchase, recurring supplies, and therapy services? Our projections in 5 years are $80 million in revenues, of which $60 million will be for equipment purchases, ...

Hey good day I was wondering how would the investor get paid an what percentage. 2 will it be every quarter

Dear Don: When you're investing on a SAFE, you receive equity once the company issues shares through a financing event (usually raising money from institutional investors). At that point, you'll have equity and receive a positive return once you're able to sell that equity at a higher price (through the company's acquisition or IPO). In short, the outcomes of early-stage are binary--you either don't receive a return or you could potentially receive a large return if the company has a successf...

In terms of investing in this opportunity, taking a positive approach ( everything going to plan and beyond ) , what can I expect from my investment in terms of profitability in the most positive scenario?

Dear Don: The terms of the investment (including multiple foreseeable risks) are discussed on the WeFunder website in detail. In the most positive scenario (again taking risks into account), Robovet Corporation is acquired at a $100-million-plus valuation by a company already active in the pet-services market within several years. In that case, you would realize a high rate of return on your investment (since you had come in at a $3 million valuation). My personal experience with startup...

Robovet

Revolutionary new imaging and robotic technology for pets

robovet.com

North Bethesda, MD

Technology B2B Healthcare

Highlights

Proprietary imaging technology with 18 granted patents, 100 patents pending.

Founder started 4 companies valued at $100m+. Built medical imaging devices used by a million people.

Less than 1/4th the cost of conventional diagnostic MRI systems.

Advisor and investor helped start 200+ companies with multiple 100m+ exits.

Team

We are passionate about medical and veterinary imaging and providing cutting edge veterinary care for our pets.

Robovet has assembled a unique team that understands the needs of veterinary patients and the veterinary imaging market. We have been working with doctors and scientists across the globe to build the first MRI systems for guiding and manipulating surgical tools.

A canine patient under anesthesia for an MRI study.

There are many challenges associated with today's advanced medical imaging and surgery for pets.

Currently, MR systems are extremely expensive and require large specially constructed facilities that may not be readily available in emergency situations or able to accommodate larger animals such as horses. Moreover, radiation treatment for cancer requires referral, is limited in availability and has side effects.

MRI is often considered the "gold standard" in equine foot and lower-limb imaging. Photo: Courtesy University of California Davis, (The Horse, posted by Christy M. West, April 26, 2008).

So, we designed a system that addresses these challenges for less than 1/4th the cost of conventional diagnostic MRI systems.

We knew we wanted a system that was extremely light-weight, mobile, and versatile. The result is an MRI system design that is compact and lightweight, while also being far more energy and cost-effective. The system design provides fast, high-resolution images and also has the capability to perform magnetically-actuated surgery and image-guided therapy. Our systems will not only allow for real-time imaging during surgery but provide the capability to help treat illnesses ranging from bacterial infections to treating cancer in veterinary patients.

Artist's rendering of the Robovet system for small animal patients.

We made the only MRI system designed to perform magnetically-actuated surgery. This technology is backed by 18 patents and 100 patents pending.

The team currently has experience in the veterinary imaging market having sold PET scanners to high-profile equine clients such as The Breeders Cup. Complementary technology such as image-guided particles is currently undergoing research and development with medical research collaborators at academic institutions.

The US veterinary services market segment is growing with more than 42,000 veterinary establishments and an estimated revenue of more than $47 billion by 2020.

While most smaller practices cannot afford a traditional MRI, our unique design significantly reduces the cost and size, which will allow for wider availability. Initial revenue will be derived from the sale of the MR system as a stand-alone imaging device at a projected price point of $150,000 per unit. An estimated 20,648 prospective equine and companion animal practices are present in the US compiling an addressable market of nearly $3.1 Billion for compact diagnostic MRI.

Subsequent revenue will be generated through the sale of annual subscriptions for image-guided therapy and proprietary robotic kits and nanoparticles for image-guided treatment. The primary indications include equine lameness and soft tissue cancers in small animal patients. Subscriptions and image-guided treatment and robotic surgery applications result in an estimated addressable market of $47.9 Million. Successful surgical or image-guided treatment plans will be recorded for sharing between participating veterinary surgeons to advance medical treatment using the Robovet system. Robovet technology has a tremendous upside with future translation to human medical imaging.

Just the beginning

After venturing into the equine imaging market with a unique PET scanner for horses, it became apparent there was a market for an innovative MRI system for animals and the cost advantages would make a difference for companion animals and their owners. It has been a long and productive journey so far, but we’ve only just begun!

Where magic happens, in our lab with some of our brilliant research scientists who conduct intensive testing daily.

Now we need you!

We need you to help achieve our goal of developing a full-scale prototype for imaging companion animals. Funding is needed to refine software algorithms and optimize hardware. Funding milestones include:

$100,000 (minimum raise): Funds will be primarily utilized to develop a prototype full-scale MRI system to a level that can be displayed at conferences and trade-shows.
$1,070,000 (maximum): Funds will be directed primarily towards construction of a full-scale veterinary MRI system with a percentage devoted to business development. A timeline of 1-2 years is projected for system development and manufacturing capabilities.

We are looking forward to establishing Robovet systems at academic institutions and research facilities to advance research in image-guided therapy and robotic surgery in veterinary patients. Help us take Robovet to the next level, invest today!

Thank you for choosing us!

Fun fact, we love renaissance fairs! Check out Dr. Weinberg in his kilt!

Downloads

Robovet Deck Wefunder.pdf