EP #254 - Patrik Deuss: The Bootstrapped Smart Lighting Solution

Timestamps:

5:02 - Picking the right co-founder

14:14 - Going B2B

18:07 - Getting better at sales

21:42 - Fundraising as a spin-off

31:59 - Getting inspiration as an entrepreneur

About Patrik Deuss:

Patrik Deuss is the co-founder and CEO at LEDCity, a cleantech startup specializing in smart lighting solutions. Patrik holds a BS in Energy and Environmental Engineering from ZHAW and previously worked at m-way agm and blitzzcar GmbH.

With LEDCity’s solution, AI-trained algorithms control the light autonomously and dynamically. This means that rooms are only lit when it actually makes sense to do so. The duration and intensity of light can thus be adapted to actual lighting needs, and energy spending is cut by about 90%. This is an incredible win considering that lighting makes up 12% of Swiss energy consumption.

LEDCity initially relied only on research grants money and otherwise bootstrapped their operations, which turned them into a very efficient team. They later raised an equity round (CHF 2M), and this capital combined with their efficiency has given them a great growth rate.

Memorable Quotes:

"In the beginning our sales person was calling people way too much. It’s never good to come across as desperate."

"If your startup doesn’t have an impactful mission, your motivation will suffer."

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