GLOBAL DEAL SYNDICATION

HBS Alumni Angels syndicates selected deals across the full global membership of its 14 chapters. This enables selected deals from one chapter to reach a global network of accredited investor alumni. This is a unique benefit of being a member in a local HBS Alumni Angel chapter. Investment decisions are made and executed individually following a global webinar. Once investments are made, investors often assist companies in other areas as formal or informal advisers. For details on how the process works, please scroll down.

UPCOMING SYNDICATION CALL

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GLOBAL SYNDICATED INVESTMENT PRESENTATION:
EARTH GRID

Thursday, December 1, 2022 9am PT, 12pm ET, 5pm London, 6pm Continental Europe

Presenter: Troy Helming, CEO & Founder of EarthGrid PBC
Complimentary for HBS Angels Members

 

About this event:
On behalf of the S Florida chapter, we would like to share the following investment opportunity:

Why EarthGrid?

EarthGrid has invented plasma tunnel boring robots that are solar-powered, use no water, have zero emissions and can bore tunnels 100x faster at 1/10th the cost of conventional techniques. They are building a network of large, underground utility tunnels that improve infrastructure and rapidly accelerate the transition to 100% clean energy by enabling underground clean energy power lines, high-speed data, water, and wastewater, H2 pipelines, e-commerce parcel transportation via pneumatic tubes, etc. They have a BOOM model (Build, Own, Operate and Manage) and intend to lease space to investment-grade utilities.

 

The Opportunity

We've had rolling blackouts in CA & TX, power lines are causing fires, only 40% of Americans have decent broadband, and our outdated power grid causes 80% of proposed wind & solar farms to be abandoned, a severe problem for renewable energy.

 

America’s infrastructure grade = “D” (ASCE), only 40% of households have decent Broadband, our electric transmission grid is failing regularly while being unable to accommodate the rapid growth of solar & wind power (>80% of solar & wind farms are canceled before construction), and building new infrastructure takes 10-15 years and has the highest cost in the world by far. Going underground for infrastructure would solve all these problems, but that costs 7-20x more than overhead utility lines.

 

The Solution

A plasma tunnel boring robot that bores tunnels 100 times faster at 1/10th the cost. And an innovative business model where we bore tunnels that we own & operate, taking risk and Capex away from project owners & developers.

 

Traction

Working prototypes, field MVP plasma trenching system nearly ready for field testing & customer projects.

Approved by 20 states as a utility in the form of a CPCN (Certificate of Public Convenience & Necessity) representing >60% of the US population (including CA, TX, NY, FL, MA, AZ, OR, WA, IL, many more). This means we have guaranteed access to bore our tunnels under public rights of way (roads).

3 patents with 62 claims published globally (except China), >100 trade secrets, 9 trademarks, 19 more patent claims pending.

Signed contracts, revenue since late 2021, numerous signed LOIs.

Winner of Pepperdine University’s Most Fundable Companies competition (>4,000 applicants).

 

Market Opportunity

$2 Trillion TAM. Antiquated transmission lines are the biggest impediment to the growth of renewable energy. Only 40% of Americans have access to decent Broadband, Water, transportation & other infrastructure is crumbling, but land costs are so high that going underground is the only real solution.

 

Business Model

We offer 2 tunnel products: BOOM & BADASS

BOOM - Build, Own, Operate & Maintain. We own the tunnels & finance them with long-term leases & tolling agreements from investment grade customers like utility companies). Builds asset value quickly, but cashflow is zero until after the tunnel is complete.

BADASS - Boring And Drilling As a Simple Service. The customer owns the tunnel, pays us at milestones to build it for them.

 

Raise

Raising $15 million in Seed funding to close by January 2023. This will enable procurement of additional equipment by adding equity to the balance sheet to qualify for larger equipment financing loans, to complete the 12-torch Tunnel Boring Robot assembly by summer 2023.

Our Pre-Seed round was $2M but we raised $7M at a $30M valuation.

Our 2021 audited financials included a 3rd party valuation showing EarthGrid was worth $49 Million in December 2021 (due mainly to our approved state utility CPCNs in 7 states). We now have 20 state CPCNs (worth $3-5M per state).

 

Basic Info

Industry: ClimateTech, Infrastructure, Clean Energy, Robotics

Founded September 2016
 

Raising Equity Round: $15M Seed ($60M valuation) via SAFE or Convertible Note

INVESTORS

Monozukuri Ventures, Asymmetry Ventures, Kyto Technology Fund, Unpopular Ventures, Lateral Capital, Interlock Capital, SeedFolio VC, Upward Labs

Band of Angels, Keiretsu (Norcal, SoCal, Pacific NW & Rockies, Midwest, Canada, Singapore, India), HBS Bay Area chapter, SAC Angels, Boston Harbor Angels, Bekeley Angels, Wharton Angels, She’s Independent, Shasta Angels
 

LUPII

EARTHGRID

FOUNDER & CEO

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TROY HELMING

 

Troy Helming is a Unicorn Founder (with 6 company exits) and a modern-day industrialist. He’s an inventor (60+ patent claims), an elite athlete, an author (1 book + 100s of articles), and a clean energy executive. He’s founded companies that have generated more than $35 Billion of economic impact, and he serves on numerous boards. He's a longtime wellness practitioner & yogi.


Troy was the founder & CEO of two impactful clean energy companies: TradeWind Energy, which he founded in 1998 & sold in 2004 (>$10 Billion of wind projects were built by the company he founded since then, and was the #1 Wind Developer in the USA in 2017) and then Pristine Sun: >350 solar projects built so far totaling $1 Billion in market value (including projects sold to other companies such as Renesola (NYSE: SOL) & Enerparc) and many high profile projects including the largest floating solar project award in North America & the largest community solar projects in both Vermont and Wisconsin.  He’s the author of the 2005 book The Clean Power Revolution, co-inventor of FloatoRack (an innovative floating solar system with multiple patents pending) and inventor of the Red Gopher (a world-changing robotic tunneling technology).  

 

PREVIOUS SYNDICATION CALL

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GLOBAL SYNDICATED INVESTMENT PRESENTATION:
AGILE DEVICES

Thursday, November 17, 2022 9am PT, 12pm ET, 5pm London, 6pm Continental Europe
Presenter: Ben Merewitz, Co-Founder & CEO
Complimentary for HBS Angels Members

 

About this event:
On behalf of the Boston chapter, we would like to share the following investment opportunity:

COMPANY
Agile Devices (www.agiledevices.com) has developed a deflectable microcatheter technology designed to reduce procedure time and cost, and the need for multiple wire and/or microcatheter exchanges. We have achieved this by creating a patented coaxial design for bi-directional deflection without the need for pull-wires. Our flagship product, the Angler® Steerable and Deflectable Microcatheter, was recently FDA-cleared for peripheral and coronary vascular use. Agile Devices has raised roughly ~$2.5MM in investment capital and an additional ~$3.5MM in non-dilutive grants.

PROBLEM & SOLUTION
Voice-of-the-customer (VOC) interviews with dozens of interventional radiologists have shown that the biggest problem with existing microcatheters is a lack of active tip control, which leads to increased procedure time, cost, and risk to patient outcomes. Operators currently rely on torqueable guidewires to access the target vessels and then track the shaped or straight microcatheter over the wire to the target site. They often need to remove and either re-shape or replace the guidewire and/or microcatheter, especially in tortuous anatomy or when targeting multiple sites.

The Agile Devices Angler® deflectable microcatheter gives clinicians all the benefits of a standard microcatheter plus the added ability to actively deflect and steer the distal tip intraoperatively with or without a guide wire in place. This product was developed using Agile Devices’ quality system and using experienced regulatory and quality consultants.

AGILE ANGLER® PRODUCT FEATURES

  • Actively bi-directional deflectable and steerable tip, up to 180 degrees in each direction

  • Offered in two lengths to allow for radial or femoral access

  • 0.021” I.D. for 0.018” guide wire compatibility

  • 3F Maximum O.D. fits through common 5-6F sheaths and guides

  • Excellent pushability, trackability, and torqueability

  • Delivers diverse agents (beads, plugs, other embolic particles, glues, etc.)


MARKET OPPORTUNITY
The global microcatheter market is estimated to be roughly $750-800m in 2022, forecasted to grow to more than $1B by 2025 (BCC Research, M&M Research, Agile Devices estimates). The rapid growth of this market is primarily driven by the increasing global incidence of cardiovascular disease, an aging population, and the comprehensive shift to minimally invasive procedures over open surgery. The US, our beachhead geography, is estimated to represent roughly 40% of the global market.

TRACTION

  • FDA clearance for peripheral and coronary vascular interventions (Q1, 2022)

  • First human use underway, with first commercial sale closed, and 10 completed cases

  • Next-generation neuro-specific product nearing Design Select stage (est. Q1, 2023)

  • Significant inbound engagement with major medical device manufacturers interested in this technology


IP PORTFOLIO: NOVEL COAXIAL MICROCATHETER & MICROENDOSCOPE PATENTS
Agile Devices’ patent-protected (US 9,233,225) tip deflection mechanism is based on an innovative coaxial design. Agile Devices has designed variable stiffness inner and outer shafts and an ergonomic handle to deflect the distal tip. This patented technology is scalable. Prototypes have been made with both smaller and larger inner and outer diameters. It is also a platform that can be translated for several non-vascular applications, such as GI, ENT, and others that may benefit from deflectable-tip devices.

FALL 2022 CAPITAL RAISE

LUPII

AGILE DEVICES

CO-FOUNDER & CEO

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BEN MEREWITZ

Ben Merewitz brings over 15 years of experience launching and managing
businesses in industrials, biopharma and medical technology. Prior to Agile
Devices, Ben spent most of his career advising management teams and
launching products in high-tech sectors with heavy regulatory oversight. From
building and scaling the first solar inverter market research practice to
advising global publicly traded biopharma companies on multibillion dollar
decisions, Ben has consistently delivered strategic value to the C-suite, either
as an external consultant or an internal advisor or Chief of Staff. As an
operator, Ben has designed, built, and scaled products and services ranging
from aviation mobile applications to APAC-focused biotech consultancies,
consistently delivering 7+ figure revenue in the first year following launch.
Ben has excelled in emerging/midsize companies (PureSense, PHOTON
Consulting, Sentient Jet) and large multinational companies (Wellington
Management, Alexion Pharmaceuticals, DRG and Clarivate), with functional
responsibilities primarily in corporate development, product management, and
management consulting. Ben holds a BA in Psychology from Amherst College
and MBA in General Management from MIT Sloan.

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HOW IT WORKS

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1. HOST CHAPTER

A company must meet a threshold of member investment in one of our HBS Alumni Angel Chapters listed here. The leadership of the host chapter nominates the company for global syndication and provides a local member contact to act as syndication lead and a company contact.

CRITERIA

Ideally, for global syndication a company should meet the following requirements:

  • Local host chapter members committed to invest at least $50,000* and local chapter forwards deal to global for syndication; 

  • Company assures at least $50,000-100,000 investible capacity;

  • Company provides at least 2 weeks for due diligence following the webinar, prior to requiring an investment decision;

  • Minimum individual investment amount is set at $25,000 or less;

  • Company agrees to a one-time admin fee of $1500.

The Global Syndication Committee selects the most suitable company candidates from the 15 participating HBSAA chapters and is aiming to host monthly webinars. 

*NY and other larger chapters may have a $100,000 min.