InTerra SmarTarget
Answered by Larry Donelson, CEO and co-founder
InTerra SmarTarget is a solution to obtain high-accuracy ground control points simultaneously with the drone flight.
From inception in late 2021, the company's journey has been marked by achievements. Over 18 months, it has dedicated itself to rigorous hardware and software R&D, resulting in pending patents and completed USPTO registrations. A pivotal moment arrived in 2022 with the successful launch of product sales. Subsequently, in 2023, the company officially became an incorporated entity, solidifying its presence in the market.
The company also graduated from the international gener8tor HudsonAlpha AgTech Accelerator. As beneficiaries of a $100,000 pre-seed investment from gener8tor, supported by HudsonAlpha, it hosted its third AgTech Showcase at the US Space and Rocket Center on Nov. 16.
What is the most important thing your company accomplished in the past year?
Our company has marked a transformative year with significant achievements. Notably, we have advanced our intellectual property portfolio with pending hardware and software patents, coupled with completed USPTO registrations. A defining moment came with a $100,000 investment secured in a pre-seed round through the esteemed gener8tor accelerator program.
In addition to this financial validation, our commercial success speaks volumes. We witnessed an exceptional fivefold increase in product sales compared to the previous year, signaling robust market acceptance and demand for our offerings.
Beyond these financial milestones, our company has strategically broadened its scope. We achieved a remarkable 5 times increase in sales year over year and garnered industry recognition and expertise. This recognition has empowered us to expand our services, evolving from surveying and engineering baselines to encompassing transportation and AgTech. This diversified approach positions us as a versatile and dynamic player in the market, ready to tackle new challenges and opportunities.
What is a short-term and long-term goal for the company in 2024?
In the short term, our focus for Q1 2024 is centered on releasing our cutting-edge software as a pure SAAS product. This innovative solution is tailored for modeling image data from drones, accompanied by a user-friendly licensing model designed to enhance accessibility. Concurrently, we aim to roll out our University Program on a national scale. Having successfully tested this initiative at the University of New Hampshire and Wallace State Dothan programs. Where each institution has developed a drone pilot program for survey data collection, we are providing low-cost, high-end modeling software for the students to use on their desktops throughout the semester and beyond.
Simultaneously, our long-term goal for 2024 involves securing a $1 million seed round, a strategic move to propel our growth and innovation initiatives. This funding will provide the necessary resources to further develop and scale our offerings, reinforcing our position as industry leaders in drone-based data solutions.
What makes Alabama unique when it comes to the startup ecosystem?
While historically raising capital outside major financial centers posed challenges, recent developments in the VC space coupled with the rapid growth of virtual meetings have transformed the landscape. Alabama is witnessing a positive shift in the startup ecosystem. Investors, working with evolving dynamics of finances and technology, now offer enhanced opportunities for entrepreneurs and startups in tertiary communities, highlighting the unique and improving conditions in the state. Given the position of Huntsville with drone research and software development, we are excited to see where we can go next.
As we navigate through these transformative times, Alabama is emerging as a beacon of positive change in the startup world. The state's commitment to innovation, coupled with the evolving dynamics in venture capital and remote collaboration, positions Alabama as an exciting and promising hub for entrepreneurs seeking growth and investment opportunities. The momentum generated by these positive shifts suggests that Alabama's startup ecosystem is on an upward trajectory, poised for a future defined by innovation, collaboration and success.
Any additional thoughts?
At InTerra, we are thrilled to embrace local and regional press recognition, solidifying our position as a frontrunner in the business landscape, particularly in the dynamic field of drone technology. Our commitment extends to serving various industries such as engineering, surveying, transportation, mining, heavy construction, and AgTech. Through innovative solutions, we empower these sectors with rapid and precise data collection—a true embodiment of what we call "Information Accelerated."
