Startup Fair participants: a scale that measures the dimensions of a cargo for warehouse logistics “InSize”
May 02

(InSize. Screen shot form personal archive)
Startup Lithuania Pitch Battle in Saint Petersburg was successful for the startup InSize, who won the lucky ticket to Startup Fair 2018. So in this interview Grigoriy Bocharov , Founder & CEO at “InSize” revealed us more about their business.

What is “InSize”? What problems does your product solve?
Our product is a scale that measures the dimensions of a cargo for warehouse logistics. Also our software can automate certain logistic processes using data collected by our own scales. As a result, we are reducing up to 30% of logistic costs.

When exactly did you launch?
Officially, we released the first InSize scale a year ago. The overall experience in developing measuring equipment – more than 5 years.

Who/what are your target customers?
Our targer customers are eCommerce, FMCG, DIY that has more than 30k SKU (stok-keeping unit)
3PL and logistic companies, that has his own warehouses.

How has business been so far?
We grown fast. Over the last six month we grows 12 times.

So what‘s next for “InSize” then?
In the next six months, we are expanding to foreign markets. First of all – Baltic states. We already have sales in Latvia, Estonia and Finland.

What are your main challenges while working on your product and how are you overcoming them?
Main challenge is receipt of recurring payments. We develop SAAS that can automate certain logistic processes and provide additional value for our customer SAAS will be distributed according to the subscription model.

How are you funded? Do you seek extra funding?
Now we are raising seed round of investment. We have term sheets from several funds and are going through due diligence process with IIDF.

Who does your team consist of?
We plan to achieve our goals thanks to our team:
I have more that 7 years of experience in the field of logistics automation.
My colleague Ivan with more than 10 years in design of industrial equipment, developed about 30% of all measurement systems sold today in Russia and our partner, Sergey Tsymbarevich is a serial entrepreneur from Minsk.

Thank you for the answers!