What does your company do?
RoboVet has developed a new technology that allows much lower cost and higher resolution imaging of pets undergoing veterinarian care. This is a new type of MRI technology that has been designed over the last 5 years with 13 issued and 90 patents pending.This will lead to our ultimate goal of developing our robotic pet surgery platform.
Where will your company be in 5 years?
We already have developed our prototype, so within 5 years our imaging technology should become the standard for veterinarian care and imaging technology. We will have also launched our robotic pet surgery technology, by this point we hope millions of animals will be benefiting from RoboVet.
Why did you choose this idea?
Our team is passionate about high quality animal care having come from the veterinarian industry and having helped thousands of animals in our career we see the value that this technology will bring. Our technology team is highly experienced in bringing new technologies to market.
Why is this a good idea, right now? What changed in the world? Why wasn’t this done a few years ago?
This technology has only just been developed to the point where it can become commercialized, RoboVet is developing the technology in the Veterinarian market as we believe that the low regulatory environment combined with the high value of the market provide a significant market opportunity, while bringing better health to our beloved animals.
What is your proudest accomplishment?
We have reinvented the way MRI works for the first time in 40 years, and our proudest moment was building the prototype technology that proved our concepts true.
How far along are you? What’s your biggest obstacle?
We are at early prototype stage, we have proved that the conceptual technology works, we now need funding to develop the imaging unit for animals and once this is functional and in market we can focus on developing the additional robotic surgery technology.
Who are your competitors? Who is the biggest threat?
There are a number of traditional MRI systems for the veterinarian market, however they are expensive and very bulky without the quality of the imaging that we have. The reason we built RoboVet was to revolutionize the way imaging is produced for the veterinarian market.
What do you understand that your competitors don’t?
We have unique defensible technology that none of the competition has access to, we also have a team that understand the needs of the veterinarian market.
How will you make money?
We will sell or lease the units to the market, because these units are much lower cost than existing solutions we should have a significant impact on the veterinarian market. Once our imaging units are in market our robotic extensions will provide treatment options to animals that have not been available before.
What are the biggest risks? If you fail, what would be the reason? What has to go right for you to succeed?
There are still a number of technical barriers to overcome, the technology is still early stage and we have to take that technology and make it market ready.
What do you need the most help with?
We consider international markets very important, so international market development would be useful as well as offshore hardware production, though our team does have experience in this area.
What would you do with the money you raise?
The primary use of funds will be to build a fully working prototype and getting ready for production before we raise an additional round of finance to get us to market.