Founder updates
Your companies,
this quarter
4 letters summarized · 12 min of reading saved
HG
HelioGrid AI
Seed · Letter sent 12 Oct
AI read
Read in full, summarized
Ahead of plan
On plan
Headwinds
Revenue
ARR crossed $1.2M in September, up from $780K in June.
Hiring
Team grew to 24. Two senior infrastructure roles still open.
Runway
19 months at current burn. No raise planned before Q2.
"We ended September with 41 utility pilots live and our first multi year contract signed."
Opening line · 2,100 words
NX
Nexus FinTech
Series A · Letter sent 09 Oct
AI read
Read in full, summarized
Ahead of plan
On plan
Headwinds
Revenue
$640K ARR, tracking within 4% of the plan shared in Q2.
Hiring
Headcount held flat at 17 by choice. One compliance hire in Q4.
Runway
14 months. A bridge extension was signed in August.
"The Q3 story is steadiness. Nothing broke, nothing spiked, and the plan held."
Opening line · 1,640 words
AB
Aurora BioTech
Series B · Letter sent 06 Oct
AI read
Read in full, summarized
Ahead of plan
On plan
Headwinds
Revenue
Pre revenue. The first licensing payment is expected in Q1.
Hiring
Two research scientists joined. The lab now stands at 11 people.
Runway
22 months after the grant tranche cleared in August.
"Our second trial cohort completed dosing on schedule, which was the one thing this quarter had to get right."
Opening line · 2,480 words
QS
Quantum Secure
Seed · Letter sent 03 Oct
AI read
Read in full, summarized
Ahead of plan
On plan
Headwinds
Revenue
$410K ARR, roughly 18% behind the Q3 target.
Hiring
Hiring is paused. Two open roles were closed in September.
Runway
9 months. The team is preparing a cost plan for Q4.
"We missed our number. Here is what we got wrong and what we are changing in Q4."
Opening line · 1,920 words
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