Here’s the 13-page pitch deck supply-chain-tech startup Tive used to raise a $54 million to keep growing its ‘AirTag’ for global freight
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.
- Tive makes a tracking device that helps supply chains keep track of their goods as they move.
- Years of supply-chain chaos boosted adoption. Tive’s revenue grew 300% in 2021 and 80% in 2022.
- Check out the 13-page pitch deck below.
Virtually every commercial shipment in every supply chain on the planet will have a tracker by 2028 — according to Krenar Komoni, Tive’s founder and CEO.
Tive makes a cellular tracker about the size of a mobile phone to help supply-chain managers monitor the location and condition of shipments in motion. The 8-year-old startup announced a $54 million Series B funding round last year, led by AXA Venture Partners, which brought the company’s total funding to $82 million.
Global supply chains were in disarray for more than two years due to the coronavirus pandemic, and any technology that could help stakeholders pinpoint their goods was poised for growth. But physical trackers are relatively new to most shippers.
In many of his early customer conversations, Komoni realized shippers had been interested in a tracker, but they were looking in all the wrong places.
“They’ve googled them, but they always get these trackers that are consumer-based or just trying to track a dog or a bag or something — but nothing around supply chains,” he said.
The CEO said he never needed to convince prospective customers, like retailers and manufacturers, that a tracker would be useful. His main hurdle was convincing them it would work. Tive trackers use cellular networks to broadcast their data faster and more accurately than consumer products. Delayed shipments and rerouted goods encouraged more than 250 new customers to give them a try last year.
“The more chaos there is in the world, the more certainty you want around your goods,” the CEO said.
Tive sensors track temperature, whether a shipment has been opened, and whether it’s been stored incorrectly. That capability, plus the price tag of around $40 a tracker, means the product has gained the most traction with higher-value goods, like pharmaceuticals and electronics.
To boost the value, Tive has a software platform and a customer-service team with 24/7 monitoring to help shippers use the visibility they gain from the trackers.
Last year, Komoni estimated 15% of global shipments have a tracker. But Komoni sees a pathway to widespread adoption. To get there, the price has to come down, he said.
“Let’s imagine that one day a tracker costs less than $10. Everybody’s going to use it,” Komoni said.
That will take years — and scale. Here’s the pitch deck Tive used to raise its $54 million Series B round to get one step closer: