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Premoney 65: Aethero Space & Shomvob

AI for satellite image processing & B2B talent sourcing in Bangladesh

July 27, 2023

Excited to be back in the groove of Premoney. Last week, first week back after a long hiatus, we made 10+ introductions for the founders of DiffGram and Arrenda. Great start, but always looking to improve the number of connections we make. Also note that I rebuilt all of my email automations this week, so if you notice an issue with an intro - let me know!

To all of the new readers of Premoney:

  1. Welcome! If you haven’t already, please reply to this email introducing yourself, why you signed up, and what type of investing & scouting you’re interested in. Excited to meet you!

  2. What to expect: In each Premoney newsletter you’ll learn about two companies that are currently raising.

  3. Meet the founders: If you’re intrigued by the companies featured, hit the “Connect with…” button and we’ll introduce you directly to the founders.

If you’re a founder, currently raising, and want to apply to be on Premoney, submit an application here: www.premoney.xyz 

A friend of Premoney: The Gatsby of Silicon Alley

Founders and people in tech looking to expand your network - our friend Andrew Yeung hosts incredible parties and events ranging from intimate dinners to large scale networking gatherings. If you’re looking to meet more founders, investors, or other newsletters to subscribe to check out Andrews Mixers.

Andrew Yeung is one of the unsung heros of tech/start-up world. During the day he leads a product category at Google, and at night he hosts gatherings of all sizes for investors, founders and folks interested in tech. He also runs a newsletter, like Premoney, to help founders and investors connect.

This weeks companies:

Company: Shomvob

Founder: Rifad Hossain

Raise Details: Raising $600k pre-seed

  • $250k committed

  • Awarded multiple grants from Government of Bangladesh

Vertical: Human Resources, HR tech, fintech

Business Model: B2B

1-Liner: Fintech based HR tech startup for blue collar workforce in Bangladesh and SEA

Description: Shomvob is a fintech based HR tech platform that connects job seekers and employers in Bangladesh's blue and silver-collar workforce. It aims to empower individuals by providing them with the tools and resources to access job opportunities, improve their careers, and achieve financial freedom. Additionally, we strive to assist organizations in gaining a hassle-free and effective recruiting process. By connecting them with a talent pool that aligns with their needs, we streamline the hiring process, reduce employee churn rate, and save on hiring costs. Future plan is to integrate fintech facility to ease the process of salary disbursement, payroll management, allowance, earned wage access etc.

Traction Indicators:

  • $40,000 ARR with 52% gross margin

  • 40% MoM revenue growth

  • 270,000+ registered users (job seekers) with 55K+ MAU

  • 800+ companies onboard and 250+ paid clients among them

  • $55+ ARPU

  • 750,000+ applications managed, 70,000+ interviews arranged, 7000+ jobs secured

Why we like Shomvob

1. Strong founder market fit

2. Low churn and little evidence of disintermediation

3. Strong growth & user stickiness

Company: Aethero Space

Founder: Edward Ge

Raise Details: Raising a $2M pre-seed

  • $1.5M committed with another fund in final stage of dd.

  • Neo is leading the round.

Vertical: Artificial Intelligence, Space Tech

Business Model: Direct Sales, Subscription

1-Liner: Turning satellite data into usable information over 20x faster.

Description: Aethero lets satellites process their collected sensor data in real-time through edge AI without having to send it back to Earth. By eliminating the need for satellites to rely on ground-based analysts, our customers can see what's happening on the ground immediately instead of waiting for hours.

Traction Indicators:

  • $3k MRR from an initial real estate pilot in Michigan

  • $782k in pilot contracts

  • $7.5M in Letters of Intent

Why we like Aethero Space

1. Massive & growing TAM with few players well positioned to solve this specific issue

2. Software solution with high margins in a very hardware-focused space

3. Existing contracts in highly regulated spaces, indicating ease of future expansion behind harsh approval processes

Stay up to speed on AI with these newsletters:

  • AI Tool Report: Latest news, productivity prompts and new tools you should check out to increase your AI knowledge.

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  • Natural20: Get smarter about AI with daily AI News. Increase your profits and productivity with AI

That’s all for this week! Thank you everyone, and please share, send feedback and introductions, or reach out to collaborate.

Jake