Michael von Roeder

I had no money when I started the company.

It was one hundred and sixty million dollars, which is the size of the IPOs.

The latter.

The latter.

And then I jumped in, let's say, in a difficult place.

Yes, I do.

He sits at my board and I actually meet him next week for lunch.

So it's all good.

No, actually it was, I took over the company with 30 people.

It's now 30 again, but the people are different mostly.

We make buildings interactive.

We usually start with accessing the building because that's usually the first interaction with the building.

So we do digital access control and from there we bring in sensors and actors like, you know, heating valves and temperature sensors and we control the lighting.

So what we're trying to achieve is an interactive experience with the building so you can

enter you can book your meeting rooms you can receive your amazon package you can receive your groceries and so on and we do that with an open platform because we believe in the future it's not going to be like the ge or siemens doing all that with a proprietary solution but it's you know many folks can contribute so we work lots with other startups who provide their apps and we integrate with them and so on and we make money well first of all we do our own hardware uh so we make money with that and the margin sorry the margin on that business is what

Well, 50% right now, but actually in my ideal world, I would give away the hardware for free and just make money with the second part, which is a SaaS model.

So you pay basically, let's say, I don't know, 10 bucks per door per month.

If you have one door, if you have more doors, like we have customers who have 200 doors, obviously you pay less.

And then you can add additional sensors and actors and you pay per unit, you connect to the IT platform.

Average is difficult because it really ranges from one door to thousands.