BIV Monthly Update XXXV
BIV Monthly Update – 6th September 2023
As we plunge into the run to December, we find ourselves in good shape. Our first Team Retreat, a dash across the globe and a host of interesting developments made for quite the month. Whoever says August is a “quiet month” is bananas. Massive congratulations to Spout for winning Fast Company’s Innovation by Design “On the Rise” award. Excellent testimony to their work (1300 units pre-sold), let us know if you would like to see more details on their seed round. As always, do reach out if you think you can be of help to (or use the services of) the Burnt Islanders. We appreciate it.
“But the second time noticing” Tim, About Time
Highlights
Our first BIV Team retreat was a great success, though in retrospect the 7.5 mile hike I insisted on could have been halved. Maybe quartered. Troopers all. Breakdancing, China, pyromania, and Buffy the Vampire Slayer (IYKYN).
We’re not public with it yet, but BIV took a very big step forward this month, with the next stage of our development set. Work to do, but what great people to do it with.
Wonderful to be back in Delhi to see Ruki’s grandparents, and give Kiyan his first days with his Great-Grandparents. A wonderful, and profoundly delicious, visit.
September Asks
Join us and Streetlife Ventures on Monday 18th at Climate Week in NYC for a pitch and panel session, Urban Climate Solutions in Action!
Sign up here for forthcoming Founder Sessions.
Point the smartest people you know to the BIV Jobs Board.
BIV Portfolio Updates
LAIIER – A follow-on check processed to allow Matt and the team to lean to the extraordinary demand they’re seeing. $1.4m in bookings this year.
NLine Energy – 4 funds looking closely at the round, wrapping up this month.
SewerAI – Sales still humming, including 5 year deal with one of the largest utilities in the country, and another city looking at a $1.3m p.a. contract.
Shower Stream – Extended Stay America looking at 5,000 unit rollout. DoD contract officially signed.
Spout – Reached 1300 preorders. Won Fast Company’s Innovation by Design award. Seed round open. Small follow-on processed to initiate production.
SwiftComply – More solid execution. Flip executed, and round closed.
Ziptility – Almost at $450k ARR. Geographic spread has been impressive. Sales motion back in place, with record MQLs, SQLs and trials. Solid.
ZwitterCo – Interesting trip to Vietnam for another international deployment. Multiple opportunities afoot to improve product suite and margins.
2S Water – Secured CA $500k grant. Deployment complete this month.
Aclarity – Successful mobile deployment, and great candidates for key engineering roles.
Aquafortus – Process improvement related to potential MLD approach. Opportunities in Lithium refinement possibly interesting.
Beagle Services - Increasing depth with existing partners, and intriguing emerging opportunity selling as an attachment to security systems.
CivilGrid – Good show at PWX, both leads and customer meetings. Sales motion maturing.
Daupler – Confident of a strong close to the year. Inbound continues to grow. Sales team working well.
Floodbase – Deepening partnerships with major insurers. Colombia sales accelerating.
Irrigreen – Good sales velocity, (very) low CAC, $3m more cash in the bank.
Work with the Burnt Islanders
All open roles with the Burnt Islanders are advertised through the BIV Jobs Board which is accessible here
Company Pipeline
Overall Pipeline: 691 (+25)
A disappointment this month, with an intriguing company not surviving DD scrutiny. A profound core idea, but not quite there in terms of our checklist.
Our forced curve of the best opportunities is exciting, and shaping up well.
Team
Excellent team retreat up in the Western Catskills. Utterly beautiful, everything closed on Tuesday. I already mentioned the hike. I thought it was memorable.
Good process improvements this month, especially around standing meetings, reporting.
A HUGE thank you to the wonderful Christine Pu who completed her time with us. She was a huge asset.
BIV Insight/Visibility
Jennie Graham and I teamed up on this blog on what people get wrong when pitching to investors. Hopefully we stayed just the right side of awfully self-important…
Jennie Graham and I will be running around at NY Climate Week and Marissa Sterling at the VC European Platform Summit.
We’re hosting an event with Streetlife Ventures on 9/18 from 4-7pm in midtown NYC as part of Climate Week - register here.
If you'd like to hear more about upcoming BIV events, please add events@burntislandventures.com to your address book.
We’re Reading/Listening/Watching
Unreasonable Hospitality by Will Guidara. An devourable memoir of building truly excellent service organizations. Really fun.
Creativity Inc. for the inaugural BIV Book Club. A seriously enjoyable discussion over dinner at the retreat. Bravo Ed.
This FT piece on the burgeoning European water crisis.
This NYT piece on the burgeoning US groundwater crisis.
Huge congratulations to the superb patrick decker as he moves on from the CEO seat at Xylem.
Declan Rice breaking hearts, and Diogo Dalot slip sliding away.
