Elephant in a box
- Country: USA
- Stage: Seed
- Area: New Materials
"The elephant" is a company that patents and develops the honeycomb made of recycled paper in the furniture and furniture industry. With the help of their solutions, the furniture becomes many times lighter, with lower transport and storage costs, and stronger.
In 1 year, the company reduced the burn rate by over $250,000 (±1/3) and restructured by focusing on B2B sales.
“We should note that at the end of 2022, we made a decision to stop spending on DTC (direct to consumer) and shift the business to B2B (business to business), which led to a decrease in the number of DTC customers in 2023 compared to 2022. This will be offset by B2B customers generating volume and revenue exceeding that of DTC.
2023 was not easy because the whole and the months to date of 2024 were mainly invested in securing a big contract with IKEA.
“We should note that at the end of 2022, we made a decision to stop spending on DTC (direct to consumer) and shift the business to B2B (business to business), which led to a decrease in the number of DTC customers in 2023 compared to 2022. This will be offset by B2B customers generating volume and revenue exceeding that of DTC.
2023 was not easy because the whole and the months to date of 2024 were mainly invested in securing a big contract with IKEA.
