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Print Edition StoriesFriday, December 12, 2008
The Pitch
Vigix looks to grow shipment ordering vending machine biz
By Mass High Tech staff
In their own words: Chris Dyl, CTO, Turbine Inc.
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In their own words: Sanjay Vakil, founder, LuckyCal Inc.
In their own words: Thomas Summit, founder, Genotrope Corp.
Vigix Inc.
Headquarters: Cambridge
Employees: 6
Founded: 2004
Web: www.vigix.com
E-mail: spytka@vigix.com
Phone: 781-710-0703
The Pitch: Vigix says its looking to expand business development efforts, form partnerships and build its team.
PITCHING THE TECHNOLOGY
Vigix’s product is a vending machine that can dispense products from DVD-sized envelopes to cell phone-sized packages. It can also deliver electronic files via Bluetooth or USB connection. Customers choose products from a touchscreen interface. The company says the machine is intended to simplify resupply and maintenance operations. Products are stored in removable and shippable containers, which can be swapped out of the kiosks by third-party courier services like UPS. The platform features a web-based control system that remotely monitors and controls the kiosk’s operations, including real-time transactions, product information transmission and container shipment tracking.
PITCHING THE PEOPLE
Who is on the management team? Steve Pytka, CEO; Eduardo Alvarez, president; and Martin Lowrie, vice president of business development.
Have executives been involved in a cashout prior to this venture? Pytka was at BIS CAP when it was sold to Nynex Corp., and at Streamware Corp. when it was sold to Crane; Lowrie was at Adsmart Network when it was sold to CMGI Inc.
Who is on the board of advisers? Dave Privitera, managing director of Ideo; Michael Bass of HP Labs’ Digital Entertainment; Martin Lowenthal, investor; and Frank Ferguson, CEO of CA Inc.
PITCHING THE BUSINESS
How much investment is being sought? Vigix is seeking to complete an angel round of $750,000. Launchpad Venture Group, Boynton Angels, and Walnut Venture Associates are already participating in the round.
What partnerships, collaborations or affiliations are already in place? Vigix has partnerships with Motorola Inc. on kiosks vending handsets, air time and accessories.
List any federal or state grants, contracts or awards received: None
What’s the market size being pursued? Vigix estimates its market at $2 billion a year.
Who are the likely competitors, direct or indirect? The company cites ZoomSystems, Fujitsu, Crane Co. and NCR Corp. as competitors and likely exit candidates.
Is the company profitable? No.
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