Syneroid’s $500K deck • TechCrunch

Syneroid was recently appointed a $500,000 round of carrying costs something halfway between microchips and dog collars to the market The company found some interesting market pieces, but the deck, overall, left something to be desired. We learn more from mistakes than from perfection, so I thought it would be a good one to dive in for this week’s pitch deck teardown!

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Slide on this deck

Throughout this pitch deck teardown, you’ll see a company called Syneroid and GPC Smart – the company’s official name is the former, but the brand they use for their pitch deck and product is the latter. The company told me to raise this round at a valuation of $3.9 million.

The company used a strict, 12-slide deck for its pitch, and no information was changed or omitted.

  1. Cover slide
  2. The problem is shifting
  3. Slide contest
  4. Solution slide
  5. Advantages of competitive slide
  6. History / traction slide
  7. Market size slide
  8. Target market / go-to-market slide
  9. Slide the team
  10. Operational financial shift
  11. Ask the slide
  12. Contact slide

Three things to love

Syneroid entering the market is very easy to understand: Lost animals are something that most of us have experience in one way or another. It is an advantage that you do not have to explain the market in detail. It also means that the company is facing a wall of potential competitors even as it tries to gain traction. That’s a challenge, and it’s interesting to see how Syneroid tackles it.

It closes the gap between the perceived and the actual

[Slide 2] The Overview Slides do a great job of getting investors up to speed. Image Credit: GPC Smart Tags

As the company throws itself into a relatively well-understood market, the challenge is not to explain what it does but how it advances the market. The company’s second slide is labeled the “overview” slide, which quickly helps provide an overview of the common challenges facing this particular market segment.

Investors probably know at least some of these things, but this bullet adds to (or slightly corrects) whatever assumptions investors might have, smoothing the delta between them. perception of the market and the reality of being in the market. This slide – while quite wordy – does a really good job of ironing out any misunderstandings an investor may have.

Having said that, it also raises some important questions. Lost pets is only one part of the challenge; stolen pets will have their collars removed, and stray animals may sometimes run off their collars. Syneroid doesn’t really address either scenario.

Great competition review

It’s rare to see a startup put its competitor’s review front and center, but I think it’s a shrewd move in this case. Again, this is not a deep tech game or a market shrouded in mystery. I suspect that most would-be investors will be able to come up with two main competitors. Tackling it head-on seems a bit defensive, but given the market, I think it makes a lot of sense in this case. Here’s how the company asked for it:

[Slide 3] Tackling this competitive alternative early in the slide deck is unusual but maybe a good move in this case. Image Credit: GPC Smart Tags

There are some clear competitors in this space, including the most common, engraved metal tags or injected microchips, both of which have pros and cons. There is also the latest generation of GPS-enabled dog collars, such as the one from Fi, whistle, fitbark and others, which are not addressed in this competitive landscape.

If the animal is stolen, the thief will simply remove the collar, and at that time, it does not care what is on the collar.

This slide shows an understanding of the competitive landscape. I love that the company chose to tackle this upfront. I think it’s important, and it’s a great way to get out ahead of the most obvious pushback from investors.

Like the previous slide, despite its encouraging presence, it raises some questions. I think an NFC / QR code dog collar is interesting, but I struggle to see how they are inherently better than standard engraved tags. The laser-engraved tag definitely in the photo does not cost $15, as listed on the slide, but can be ordered from Amazon – fully private – for $4with four lines of text on each side of the metal tag.

Sure, you can’t “update” information, but pet owners can probably afford $4 every time they move or change their phone number. You can’t enter location information, but anyone willing to catch a stray puppy can probably text or call the owner with the address and details. Again, if the animal is stolen, the thief will simply remove the collar altogether, and at that point, it doesn’t matter what is on the collar. As far as tracking goes, the Apple AirTag could be a good solution for that situation (but it’s easy to throw the AirTag around the bush like any other collar).

This slide shows that the founders understand the challenges with their messaging and positioning, but it also shows that the answer is a work in progress.

Beast from the market

The pet market, both in the US and globally, is huge. Investors know that, but adding a reminder can’t hurt. You don’t have to catch it the big one market share to build a business is very important here.

[Slide 7] Hello the size of the market. Image Credit: GPC Smart Tags

One of the things that interests investors more than others is a large and growing market. Pet wearables definitely fit in that world, and my gut tells me that smart wearables (especially GPS-type trackers) are going to be value drivers on that front. There may be room for a product like GPC there, if it can play its cards right and find a good beachhead market for its customers. Price will be crucial here; This will be a product for those who want something fancier than an engraved tag but something simpler (or cheaper / easier to use) than a GPS tracker.

This slide shows the size of the overall market, which is good, but I would have liked it better if the company talked about what it believes is the market it can serve and how it will engage customers.

What can you learn from this slide as a start? Have clarity on the size of your market and show that it is large and trending towards growth.

In the rest of this teardown, we’ll take a look at three things Syneroid could have improved or done differently, along with its full pitch deck!

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