I was then As a student in the UK, I remember that renting appliances such as washing machines and televisions was customary for some, especially students living in short-term dormitories. Israeli startup Xyte (pronounced “xyte”) has raised $30 million as a return to this kind of hardware-as-a-service model shows a way forward for manufacturers whose margins are steadily under pressure. If it works well for software-as-a-service, why not hardware?
Let me see how Xyte pulls off its 27-slide deck. Am I excited by Xyte's deck? Sadly, no. This 27-slide deck lacks the information I need as an investor to make an informed decision on whether to invest. Let's break down what I saw.
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Slides in this deck
Xyte's deck has 27 slides, some with redacted information. The redactions relate to its customers and trading figures, which are both very fair and a bit tricky to get a full company picture.
- Cover slide
- Company overview including some team details
- Team slide
- Opportunity slide
- Opportunity 2 slide
- Market slide
- The problem is the slide
- Value proposition slide
- Solution Slide
- Solution 2 Slide
- Solution 3 Slide
- Dedicated interfaces slide
- Traction slide
- “Any Industry, Any Size” Slide (Customer Base)
- Value proposition slide
- Business Transformation Slide
- “Unique Business and Trade Platform” Slide
- Customer Study Slide
- “Guidance for a new product category” slide
- “A single, integrated platform” slide
- Team 2 slide
- Interstitial slide
- Business model slide
- Go-to-market slide
- “Forecast and Drivers” slide
- Investment summary slide
- Closing the slide
Three Two things to love
With 27 slides, you can be sure there will be plenty to choose from in the “Three Good Things” section. Dear reader, I won't lie: try as I might, I really struggled to find three good things about this deck.
So, let's talk about the two sparks of brilliance I've been able to detect in this void of despair:
Xyte's slide deck is, overall, a very low cavalcade of mediocrity. However, I really enjoyed this one-slide summary early on.
Although some key numbers are redacted, it shows the most important information at a glance, which makes the investor take notice. In fact, I think this slide will become my recommended template for raising money for most startups — it's crisp, clear, and to the point, and it helps set the scene for what's to come.
Pulling it all together
I have a lot of respect for essences and this deck pulled it off not once, but twice. The first sets the stage and the second (below) summarizes the same story once again, but through the lens of an investor.
I love the way the team did it. It's great to see that the company recognizes the problem and outlines a meaningful go-to-market strategy. So good, in fact, that I'm going to look at each of these points separately:
- Huge opportunity: Yes! A startup must reach “VC scale” to be fully invested. It might be worth reminding the investor of the actual market size here, but this slightly longer summary works well.
- Exclusive Solution: Yes! Great including a reminder of what you're really doing.
- World-class production: To be honest, I prefer to see this point through data. Is it a world-class product? Maybe, but bring receipts!
- Verified Solution: Sure, but remember to include why. What validates this solution? I suspect the point the company is really trying to make here is related to the next point. . .
- Scalable GTM Strategy: Being able to acquire customers at scale makes a startup stop being a startup, and that's a good thing. For bonus points, I reminded investors of the CAC:LTV ratio here, but it's a good start.
- Vision: Meh. It's not a reminder of the company's vision, it's a missed opportunity. Perhaps, instead, it's changing the team essence to remind investors why this is the right team to build this company.
Minor tweaks aside, I think this “Investment Summary” slide does a lot of work and I'm glad the team chose to include it.
In the rest of this teardown, we'll look at three things Xyte could have improved or done differently along with its full pitch deck!