We’re not quite ready to report this to the world at large because there is another prominent investor coming into this round which will improve the SEO on the press release, but I am very pleased to report to the collective that AICoin is now an equity stakeholder in Sevamob Ventures. There is SO much promise in this company and so much already being delivered in value terms.
As agreed with the collective vote, we have invested $400K. We also hold an option to invest a further $100K at the same valuation. So if they do good work and increase the value of our investment. We can put more money in at the same valuation as the current investment round.
To remind you. Sevamob is a health service company that delivers high quality medical services to underserved populations in the US, India, South Africa, Botswana and now Costa Rica. They use pop up clinics, telemedicine and AI to deliver their services. What is interesting about their approach and confirmed to us that they were a great investment for AICoin is that their model is to create a process to deliver a quality service and then use technology to model that process to bring down the cost of service delivery. This is a very pragmatic approach and not commonly used by young companies who will more frequently try to figure out how to use tech to deliver a service, missing out the step of defining what that service actually is.
What does Sevamob look like on the ground?
They were cash positive when we sent Gavin to India to start our due diligence prior to investing, but Shelly Saxena, the Sevamob CEO has just delivered a summary of their 2018 performance. Their revenue is up 15% on the year. They will be using this round of investment that AICoin is part of to accelerate growth and lock in patents on their technology.
AICoin sees value because of our unique structure
Sevamob is a company of substance that may be overlooked by other investors because Sevamob’s founders don’t put a lot of energy and cash into the ‘optics.’ (Just have a look at their website and you will understand what I mean.) But they are a ‘cash positive’ start-up! They make plans, deliver on them and built into their DNA is the plan to increase efficiency and decrease cost by using technology to achieve this goal. That’s really wise and really impressive in these days when many start-ups don’t seem to care that much about costs and profit.
This is a tangible demonstration of one of the benefits that AICoin has over conventional venture funds. With a conventional venture fund, investments are scouted out by young analysts who may be attracted to flash over substance. In that kind of scenario, Sevamob will get overlooked. This creates the kind of opportunity we will work hard to replicate over the coming years.
Thank you for your patience and continued support. The team and I are working hard to build out the plans you have voted into place. I am always happy to speak to individual people with questions. Please comment here or reach out through email. As soon as I see your request I will respond.