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New distributed POS & SaaS platform in unattended retail: mobile payments & ad media
• $119 Billion Dollar Industry• Technology painfully absent• New regulatory catalyst• Quick path to ROI, 20% Sales lift, 30% Cost
reduction• Now shipping product & establishing
partnerships
Computing Vending vs.
80’s
Payment
90’s
Today
• Payment is limited to cash/coin
• Over 95% of vending machines are “unconnected”
• New Healthcare Act requires nutritional info– FDA estimates compliance will cost operators 14,068,808 hours/year
No Technology = HIGH costs
Solution: AirVend
• Interactive, capacitive touch screen• Cashless payment options• Nutritional information• Wireless 3G connection• Camera, microphone
• AirVend Live– Cloud-based software– Line-item Inventory– Machine alerts
Decrease costs by 30% Increase sales by 20%
Disruptive Business Model
2013
2014
2015
2016
2017
0
500000
1000000
1500000
2000000
2500000
3000000
3500000
FREE$95 $195 $295
Revenue Model
TeamLance Ellsworth, Co-founder/Business Development & Sales
18 years’ sales and business development. Most recently, Lance helped form key partnerships to help launch FotoPunch in the time-and-attendance market.
David Loveland, Co-founder/Marketing & Operations
Co-founded CORA Software, a Costco event management software tech startup .
Chad Francis, Founder/CTO
Chad founded [io]development, a custom software firm developing technology for Disney, Costco, and many others. For Disney, Chad helped create a 3-D face modeling application and has a background in facial biometrics.
Peter Skalla, Finance
Finance and operations executive with 18 years’ experience.
John Comfort, Vending Technology
20 years’ experience in vending developing control, interface, audit, loyalty and payment products.
(Apr-Oct ‘12)Under The Radar
-Built Product for Nat2go -Deploying 100’s of AirVend 7 Units
(Oct-Mar ‘13)Buzz/Validation/OEM
-Direct Contact into Manufacturers, Distributors, & Operators-Establishing OEM & Strategic Partnerships
(Apr ’13)Retrofit Launch
-Coming Out Party at NAMA, Las Vegas
Sales & MarketingPath to Market
1. OEM, integrated solution via manufacturers2. Direct to operators: retrofit existing machines
Current Customer & OEM Partner Current Strategic Partners
In talks with 3 of the top 5 manufacturers: Strategic partnership talks:
Investment Opportunity & Use of Funds• Raised $200k Angel Seed round in April, 2012 for R&D to get initial product built
• Currently Seeking: $500K– Additional follow-on $1M in Series A in April/May
• 3.5 MM Valuation
Milestones Hardware
• Improve 7” RF (commercial components)• Develop OEM Product• Develop 5” RF
Software• Polish Device App (User Experience & Stability)• Rewards/Loyalty Programs• PCI Compliance
Sales & Marketing• Close at least 2 of top 5 manufacturer OEM• Achieve 1,500 units/month OEM• Achieve 1,000 unit/month Retrofit
Product Certifica-
tion, $45k
Product Im-
prove-ment, $95k
S&M, $35kInven-tory,
$135k
Working Capital, $190k
Use of Funds
Competition
Exit Strategy
• Acquisition in 2-4 years• Potential Acquirers (media, payment, vending technology)
Creating a perfect startup storm
Lance EllsworthCo-Founder/EVP Business [email protected]
AirVend, Inc. | 202 E Center St., Provo UT 84606 | 800.321.9601 | www.air-vend.com
Chad FrancisFounder/[email protected]
