mirobot milking system

Transcription

1 mirobot milking system Increasing Dairy Farm Profitability September 2017

2 Legal Disclaimer IMPORTANT NOTICE This presentation has been prepared by mirobot Ltd. (the Company ) solely for informational purposes. The information contained herein has been prepared to assist prospective investors in making their own evaluation of the Company and does not purport to be complete or to contain all of the information a prospective or existing investor may desire. In all cases, interested parties should conduct their own investigation and analysis of the Company and the data set forth in this information. The Company has prepared this presentation based on information available to it, including information derived from public sources that have not been independently verified. The Company makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any errors omissions in, this presentation. This presentation includes certain statements and estimates provided by the Company with respect to the projected future performance of the Company. Such statements, estimates and projections reflect various assumptions by management concerning possible anticipated results, which assumptions may or may not be correct. No representations are made as to the accuracy of such statements, estimates or projections. This presentation may contain statements that are not historical facts, referred to as forward looking statements. The Company s actual future results may differ materially from those suggested by such statements. No assurance can be given that future events will occur or that projections will be achieved. Past performance is not a reliable indication of future performance. This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the Company s securities, or an offer to sell, or a solicitation of an offer to buy, the Company s securities in any jurisdiction. Neither this presentation nor anything in it shall form the basis of any contract or commitment. Prospective investors should not construe the contents of this presentation as business, legal, tax, investment or other advice. Each prospective investor should make his, her or its own inquiries and consult his, her or its own advisors as to the appropriateness and desirability of an investment in the Company and as to business, legal, tax and related matters concerning an investment in the Company. An investment in the Company shall be allowed only to such number and category of investors in accordance with applicable laws and regulations and pursuant to a predetermined process. Accordingly, detailed information in connection with the investment shall be revealed and delivered only to a limited number of qualifying investors as provided by law.

3 mirobot: Investment Highlights Milk Largest agricultural product Addressable market $4.6Bn Milking parlors >20% labor costs, low profit need automation mirobot s solution mirobot bringing milk production to the 21 st century Expertise in multidisciplinary engineering integration Reached POC in dairy farm Founded 2011, Raised $1M Funding required to reach commercial installations Low-cost add-on automatic milking system Parlor Big Data empowers dairy farmer

4 Robotics: Increasing Investor Attention VC investment in 2016 totaled nearly $2Bn Robotics in agriculture is a popular areas for investors Over 50 M&A deals totaling > $19Bn in 2016 Sample 2016 Ag-Robotics VC investments Company Country Funding Lead Investors Life Robotics Japan $9M Series B Global Brain, Mitsui Fudosan Prospera Israel $7M Series A Bessemer 6 River Systems USA $6M Seed Eclipse, irobot Slant Range USA $5M Series A The Investor Group ecorobotix Swiss $3M Seed 4FO *Source: The Robot Report, Hizook VC Investment into Robotics [$MM]

5 Seismic Changes to Milk Production Worldwide Market is consolidating; small dairy farms closing Increasing labor costs affect profitability Consumer awareness increases quality controls Restrictions on employing immigrants causing labor crisis

6 Every Cow Still Needs Manual Pre- and Post- Milking Routines Milking cows is labor intensive >20% of total farm costs Direct effect on parlor throughput Low innovation rates (Last major innovation: the automatic milker take-off assembly, 1974)

7 mirobot Milking System Improves the Process One unit in each milking stall Utilizes existing infrastructure - new + existing stalls One operator Portable control unit: remote control throughout milking process Standardizes pre- and post-milking routines in all stalls simultaneously Small, flexible, cow-friendly construction

8 mirobot s Value Demonstration (assuming a 32 stall parallel parlor) Current State With mirobot 75% labor reduction >40% throughput increase

9 mirobot s Innovative Human Touch Technology Cutting-edge 3D modeling of teats enables real-time tracking of cow movements Robotic arms based on innovative mechanical structure are lightweight, highly flexible, durable, and gentle to the cow Unique cup for pre- and post-milking routine stimulates teat and sprays air, water, disinfectant Patents Three-dimensional teat modeling granted US, EU Human-assisted milking robot pending

10 The mirobot Advantage Cuts labor costs Affordable: costs $12K compared with >$200K per stall Parallel pre- and post-procedures increase parlor throughput significantly Human touch technology is gentler to the cow, consistent, safe, precise Easy to maintain Compatible with any milking solution or parlor structure No vendor lock-in Enables parlor BIG DATA - driving further efficiencies

11 Market Segmentation Variables Herd size Labor costs Quota system Available, already familiar dealer First market segment targeted Large farms (300 cows, ~ 24 milking stalls) In countries with high labor costs Farmers that are competitive, motivated to grow Farms served by familiar, known dealers Cows in large farms (K) Milking stalls in large farms (K) Market size ($ million) USA 5, ,545 United kingdom Germany Italy Denmark Netherlands Spain France Israel Large farm > 150 cows

12 Business Model Multiple Revenue Streams 1. Systems 2. Maintenance and support 3. Aftermarket sales disposable cleaning and preparation cups Go to Market 1. β systems at dairy opinion leaders; discount when become commercial users 2. Commercial product initiate sales following short testing period 3. Installations in research centers 4. Publication of improved performance

13 Competitive Landscape Robotic Milking Systems DeLaval, GEA, SAC, LELY Not suitable for medium-large farms Expensive >$200K per unit Difficult and expensive to maintain Only 20,000 units installed worldwide

14 Our Road Map to Commercialization Finish System Development from prototype to beta Fully Functional System Testing in a working milking parlor Israel: 1 st β site with multiple systems Israel: 2 nd β site EU: 1 st β site Israel: Sales Launch EU: 2 nd β site US: 1 st β site Global Commercial Sales Funding Q Q Q Q Q Funding Q Q Q st Sales Q Q Q Sales $1M Q4 2020

15 The mirobot Team Tal Bareket CEO and CTO PhD Cognitive Science. Experienced in developing high-tech systems for the dairy industry. Previously led R&D for Afimilk, Elscint Guy Malchi Director of Business Development 20 years international experience in executive management, senior positions at Rosetta Genomics (NASDAQ:ROSG), Champions Oncology (NASDAQ:CSBR) Joseph Ackerman Chairman Former CEO and President, Elbit Systems Ltd Multidisciplinary Engineering Team Robotics, software, mechanical engineers lined up; awaiting financing

16 Investors Trendlines Agtech of The Trendlines Group OCS (Israel Office of the Chief Scientist) Private investors

17 Thank You! Tal Bareket