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Creating a Wireless System and Financial Challenges in a Hardware Company
The company created a wireless system with an internal mesh network to work around network imperfections. Initially, the project was self-funded by the team members with the help of an angel investor before taking venture capital in 2005. Despite being well-capitalized initially, the CEO emphasized the challenges of being a hardware company, highlighting the high costs, inventory management concerns, cash flow worries, and the constant need to prepare for future financial obligations.