<aside> 🚀 As a reminder, AUAR licenses its tech stack of low-CapEx robotic micro-factories and supporting software to existing home-builders, enabling them to deliver affordable and sustainable homes at scale. Our vision is a world where sustainable housing is universally accessible to everyone.

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High Level Summary

<aside> 💡 The first half of 2024 has been super busy at AUAR, and a time of firsts. From our first fundraise close, to opening our first external micro-factory, to expanding to our first non-EU market, to our first two-storey project going into production, to our first design for a 3-storey apartment typology in Belgium… We’ve been in mega ✅ execution ✅ mode.

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🥳 First Fundraise Close - £2.6m 🥳

The announcement of our first fundraise close at the end of March was just totally wild. Our fundraise was published in over 30 articles, with a Sifted exclusive.

Led by Miles Ahead Capital with ABB RA Ventures, Morgan Stanley, Rival Holdings, Vandenbussche Group, Bacchus Venture Capital, and angel investors Nicolas Bearelle (from Revive), Atomico Scout Stefano Bernardi (from Unruly Capital) and Dob Todorov participating, we raised a total of £2.6m allowing us to get our micro-factories out into the wild in paid pilots in Europe and the US!

Single family homes & low rise apartment AUAR typologies by our partner architects in Belgium

H1 Metrics

<aside> 💸 Revenue

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• Software Enabled Hardware model - cash and margin positive with driver on hardware sales right now
• £570,000 actual in H1 +
• £344,000 already booked in H2
• = 57*% of 2024 £1.6m target*

<aside> 🧑🏻‍⚕️ Financials

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• Burn - £118k/month YTD average
• Cash - £1.46m
• Runway - 12 months
• Gross margin - 54.2%*
• *30% on hardware sales

<aside> 👯‍♂️ Team

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• 15 total
• 5 new team members in H1 - fCFO, 2 x Automation Engineers, Ops Manager & fGC
• 2 more to join in H2 (Architect & Structural Timber Engineer) & hiring complete for now
• 1 leaver to further career in Q1

<aside> 🏭 Micro-factories

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• 1 active cell in Belgium - reached profitability after 6 weeks!
• 2 cells in pre-assembly shipping out in July this year
• = 66% of 2024 target complete

<aside> 🦾 Partners

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• Paid pilot active in the US (Midwest)
• = 50% increase in H1

<aside> 👍🏻 Sales Funnel

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• We have 16 validated partnership leads, surpassing our internal OKR of 6 validated partnership leads for Q2
• 45 active conversations internationally (US, UK, EU, Canada, Australasia)
• 1-2 are being selected for onboarding to a paid pilot in H2 ‘2024
• 5 will be selected for onboarding to a paid pilot in 2025

<aside> 👍🏻 Product Dev Updates

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• Iterated from Version 1 to Version 2 of our micro-factory during Q2. Some key results:

  • Landing at a £250k cost per micro-factory
  • Increased length of block size up to 4.8m long (^ from 3.6m)
  • Increased speed of production down to 5 minutes per 2.5 sqm
  • Increased adaptability to locally available, off-the-shelf materials
  • Lead time for micro-factories reduced from 6 months to 2 months
  • Shipping 2 micro-factories to our partners in the US this summer

• Closing the DfMA loop in our software. Some key results:

  • AUAR micro-factory robots driven entirely by code generated by our software
  • Integrated costing service & centralised data management linked our Revit plugin

• Iterated from Version 1 to Version 2 of our building system. Key results:

  • Hitting impressive cost metrics: 45% below market price for timber frame & CLT

<aside> 🙏🏻 Up Next

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• Embedding LLMs in our software as part of the Google Cloud x Female Foundry AI Visionaries Incubator
• Launching a web-based app to configure and cost timber walls in July
• Full containerisation of the robot cells (see image)

<aside> 🚧 Challenges: Finding a Home at Home

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We’ve been looking to secure a UK partner this year. While it’s our home market, the nature of the market with a few large home builders controlling supply & demand makes it challenging. We’ve pivoted our sales approach 3 x times, and are starting to see conversations shifts as we focus on targeting timber frame manufacturers as partners.

<aside> 🏘️ Projects in H1

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