ElectroKare 💧

Electrolyte Tracking...

October 08, 2024

Setting the Scene

  • Electrolyte imbalances during physical activity can hinder performance and lead to dangerous health outcomes, yet most athletes lack real-time insights to manage this effectively.

  • Problems with today’s tracking:

    • Inefficiency: Current solutions either require invasive methods or rely on guesswork, leading to poor training outcomes and recovery.

    • Danger: Poorly monitored electrolyte depletion can cause symptoms ranging from cramps to seizures, putting athletes at risk.

  • This week’s company offers an electrolyte tracking technology to provide actionable insights.

In a Sentence

ElectroKare is an AI-powered, non-invasive electrolyte tracking software, offering athletes insights into their electrolyte levels during workouts.

  • Non-invasive: An electrocardiogram (EKG) is taken from a smartwatch, chest strap, or similar device, to receive results instantly.

  • Tracking: ElectroKare offers actionable insights into electrolyte levels, helping the body determine its specific needs for effective recovery.

Bulleted Version: Think of ElectroKare like the Fitbit for your electrolyte levels; Just as Fitbit tracks your steps, ElectroKare tracks your electrolytes using the data from your smartwatch’s EKG sensors.

The Basics

  • Industry: Fitness Tracking, Biotechnology

  • Headquarters: Vernon Hills, IL

  • Year Founded: 2023

  • Employee Count: 2

  • Investors: Techstars and iVenture

  • Amount Raised: $140k

  • Business Model: B2C subscription model and B2B with customers like sports teams and hospitals

  • Early Traction: 7 signed teams ($177k in ARR), 2300+ waitlist for the pilot launch, non-invasive electrolyte tracking via smartwatch ECG at ~70% accuracy

IN PARTNERSHIP WITH

  • Google has built 9 products with over 1 billion users. 

  • Sign up for the Google for Startup Cloud Program to receive up to $200k of credits over 2 years.

  • Start building and innovating your startup with Google Cloud today.

Applicants must meet eligibility criteria*

Due Diligence

WHAT WE LIKE

  • Market Opportunity: The projected global end-user spending on wearable devices in 2022 was estimated to be around $81.5 billion.

  • Performance Optimization: With a growing focus on recovery as a key factor in performance, ElectroKare meets the needs of 4.4 million competitive athletes in the U.S. seeking every advantage in training and recovery.

  • Beyond Athletics: ElectroKare’s technology has long-term potential beyond sports, with hospitals being a key target for non-invasive electrolyte monitoring in patient care.

POTENTIAL RISKS

  • Accuracy: With a current 70% accuracy rate, further improvements are necessary to build trust with high-performance athletes and healthcare providers.

  • Consumer Awareness: Many individuals may not fully understand the importance of electrolyte tracking, which could limit initial demand without proper education.

  • Privacy Concerns: As with any health-tracking technology, concerns around data privacy could hinder adoption unless robust security measures are clearly communicated.

Founder Profile

  • Mitchell Leshchiner, CEO: Previously bootstrapped previous startup to 6 figures in ARR for 2-3 years, played professional soccer in France.

  • Josh Malinkovish, CTO: Previously worked as CTO on various Venture-backed startups, background in Bioengineering and Computer Science.

To request an introduction to the founder, respond to this email.

Comps

Why ElectroKare: By developing a non-invasive, automated method to track electrolyte levels affordably, accurately, and across platforms, ElectroKare enables individuals to take better care of their bodies.

Event Board

  • Bulletpitch San Francisco Founder Dinner: On October 10th, we are hosting a dinner in SF for founders only. Apply HERE.

  • Los Angeles Startup Soirée: On October 17th, we’re hosting an event in Los Angeles at a stunning venue with panoramic views of the city. It’s set to be an unforgettable evening with exceptional people, cocktails, live jazz, and breathtaking views. Apply HERE.

  • FOUNDERSGIVING NYC: On November 21st, we are hosting a hosting a Thanksgiving themed dinner in a stunning NYC penthouse for NYC’s top founders. Apply HERE.

Note: If you apply and aren’t approved for a dinner, we will try to get you to a future event.

Cast Your Vote

What do you think of ElectroKare?

Cast your vote below and tell us why:

Login or Subscribe to participate in polls.

Last Week Today

  • The Results Are In: Sent, a company that lets brands message their customers across platforms (What’sApp, iMessage) while optimizing cost and maximizing deliverability, was highly favored in last week’s poll.

  • Subscriber Feedback: “Pure genius.”