Suji 💪

Announcement

• Are you looking to meet top-tier founders and funders? Join us for a one-of-a-kind event on June, 4th in NYC. You can sign up here and find more details below.

Setting the Scene

• Chronic musculoskeletal pain (MSK) affects more than 50% of the adult population, inhibiting daily activities and quality of life.

• Improving muscle strength is a modifiable factor for reducing MSK pain, however, most solutions fall short.

  • Strength training isn’t hyper-targeted.

  • Recovery products fail to provide insights.

  • Physical therapy is ongoing, costly, and inconvenient.

• This week’s company provides technology to strengthen muscle groups, accelerate recovery, and relieve MSK.

In a Sentence

Suji develops devices and a companion platform that utilizes targeted compression training to measure and improve muscle strength as well as accelerate recovery.

• Compression Training: A portable device is worn during exercise and controlled via smartphone, isolating muscles during low-intensity workouts to strengthen them.

• Platform: The app tracks and guides workouts to accelerate recovery, endurance, and strength training.

The Basics

• Industry: Health Tech, Medical Devices  

• Headquarters: Edinburgh 🏴󠁧󠁢󠁳󠁣󠁴󠁿

• Year Founded: 2020

• Employee Count: 10

• Investors: Lake Nona Fund, Tavistock, Pioneer Group, Justin Rose, Michael Redd, and Scottish Investment Bank.

• Amount Raised: $4.7M

• Business Model: Currently B2B with plans to roll out a consumer offering

• Early Traction: Adopted by 1 in 4 U.S. sports teams, 14k sessions logged a month, 36% of hardware used daily, endorsed by major athletes including Dak Prescott and Justin Rose

IN PARTNERSHIP WITH

• Fidelity Private Shares cap table platform is the all-in-one tool that will help founders prepare for their next round of funding.

• This platform gives founders access to seed stage capital, equity scenario modeling, and premier support to generate, execute & store legal documents.

• As a valued member of the Bulletpitch community, we’d like to personally share a 20% discount for the product.

• Plus, if you’re coming from another platform, Fidelity has offered up its top-tier team to help transfer all docs for a seamless transition.

Due Diligence

WHAT WE LIKE

• Market Opportunity: With roughly 50% of Americans suffering from MSK pain, Suji’s unique product capitalizes on sports medicine, consumer health, and healthy aging markets.

• Early Insights: Early studies have shown that Suji’s ability to quantify muscle states has led the average user to improve muscle strength by up to 31% in just six weeks.

• Defensible Moat: With multi-patent pending hardware on this new kind of therapy and an increasing dataset of public muscle state, Suji creates barriers to entry among competitors.

POTENTIAL RISKS

• Liability: As Suji’s technology involves physical health interventions, there is the potential liability of users experiencing adverse effects or injuries, necessitating robust safety protocols and insurance.

• Data and Security: Handling and storing vast amounts of user data could pose significant data privacy and security risks, requiring stringent measures to protect sensitive information from breaches and misuse.

• Regulatory Compliance: Navigating the complex landscape of health regulations across different markets can be challenging, potentially impacting Suji's ability to operate smoothly and increasing the risk of non-compliance penalties.

Founder Profile

• Alex Birks, CEO: Former national boxing champion with a background in robotic engineering.

• Connor McGuile, CTO: Previously an algorithms engineer at Thales with an MS in AI.

• David Marshall, CCO: Previously founded Royal Docks Fitness.

Comps

• SAGA

• Airbands

• Smart Tools

Upcoming Events

If you haven’t already signed up, we’d like to invite you to join us on June 4th for a unique event designed to connect founders with funders.

Expect to meet amazing people, enjoy drinks, food, and music. Plus, attendees will leave with plenty of content to post about, whether it’s a live interview or the photo opportunity each founder will have to submit their company logo to be featured on a massive billboard at the center of the venue.

Cast Your Vote

Last Week Today

• The Results Are In: Parakeet, an automated risk management platform that ensures companies’ oversight over their financial and operational risks, was highly favored in last week’s poll.

• Subscriber feedback: “Parakeet could easily become the industry standard as it clearly increases efficiency while minimizing risk.”