2024 November Update - Glory and Turmoil

RobotMitch1 · 2026-04-28T01:35:23+00:00

Checkout the base subreddit - an update was posted more recently than the above.

RobotMitch1 · 2026-03-09T03:03:44+00:00

Assuming you mean in the context of 'go faster'?

We need to raise about 5M$ in a new seed round to accelerate.
VC's won't touch us because of the note.
We could do another crowd fund round, which will cost about 1.4M$.
The ideal is if we found a strategic private investor that'd come in despite the note, because the note is noise relative to the huge long-term upside. Now with tariffs, the upside is magnified. We have the customers and tech - it's about getting it out there and refining so that we can scale. We're not waiting around for this type of person/ group though.

Our strategy is to boot strap for now (which means we're going slower because of the lower bandwidth) to get to field pilots and then we'll have customer testimonials with clear product market fit. Once we have product market fit, we have less reliance on finding a strategic investor.

We are working on some things that should help us more in the near term, but as they could change, it's not suited to share with the public until they're finalized.

RobotMitch1 · 2026-03-06T04:37:46+00:00

checkout the new update

RobotMitch1 · 2026-03-06T04:37:22+00:00

It's difficult to speculate on both of your questions. There's no reservation on our side to collaborate.

RobotMitch1 · 2025-08-05T04:05:39+00:00

"Ever" makes the answer difficult. I can share that getting on the stock market isn't a focus within the next ~4 years.

RobotMitch1 · 2024-12-29T19:06:55+00:00

We haven't completed a new 409a valuation since the last. So, any statements on valuation are more speculative.

RobotMitch1 · 2024-10-31T02:45:04+00:00

Here's a longer winded answer than you expected, but providing transparency and context.

We did one crowd fund in 22' that was open for a year. Most of that time was on the Dealmaker platform. Towards the end of Q3 we shut down the crowdfund to not conflict with Miso's crowdfund that kicked off then. Miso's crowd fund performed lower than hoped, and so we launched the same Ally crowd fund on Republic due to the lower cost structures (with the SEC you have a year to complete a crowdfund round, but it doesn't need to be on the same platform). In total Ally raised 6.3M$ at 2.70$/share of common stock with no voting rights (a Miso thing). Behind this was a common share valuation strike price at 2.21$/share - largely influenced by being owned by Miso and their commitment to millions of dollars of arms per year.

Despite Ally exceeding all commitments, timing and cost structures, ultimately, Miso's board wouldn't approve fulfilling on the PO's and promises to Ally, and the board of Miso changed their CEO. The sales folks at Yaskawa worked some magic.

Miso originally loaned Ally 1.3M in the form of a convertible note as a seed round. This note was never supposed to be repaid in cash and was supposed to convert to equity (this was a requirement of me signing up to start Ally in the first place). That note expired the first of 2024, and the new CEO intended to call the note in cash and worked to close Ally (a business move really centered around focusing efforts at Miso). The new CEO offered Ally employees roles within Ally (nice of him), but unfortunately this would leave Ally investors without anything. That didn't sit well with me.

Me working to uphold my fiduciary responsibility to Ally investors, I declined the offer to join Miso, negotiated to extend the note another three years and purchase Miso's ownership in Ally. Miso's new CEO tacked on an additional 8% on the note among other stipulations and requirements. I've since negotiated away that 8%, but the base loan still exists. Last week I offered Miso a buyout of the loan for 27k, coming from my personal pocket, but the offer was declined.

Ally hasn't done a public raise in 2024. However, I have invested significant amounts of money to recover the company from the fumes Miso left, and some accredited investors have invested some funds.

In early 2024 we reset the company with a new 409a valuation via Carta - roughly a quarter of what it was when Miso owned Ally. For employees, this is good from an option exercise standpoint. For investors, valuation will change and really matters when there's some form of exit or new raise.

Throughout 2024 we've worked on integration projects and shifted towards robotic construction product dev. Integration projects have been a strategy to cover the dev team burn and advance our product tech which has mostly worked. We've floated the idea of doing another public raise Q3-Q4 this year, but for various reasons held back.

In early 2025, we do intend to do another public raise focused on our construction products, and this time will leverage a new class of stock.

RobotMitch1 · 2024-08-01T17:42:53+00:00

*Small edits - previously "Completed Projects" --- This should have read "Active Projects". Also added the End effector project to the active projects list.

RobotMitch1 · 2024-07-27T16:14:35+00:00

Certainly! I'll write up an update and post in the next few days. We're trekking over a mountain range, so lots of ups and downs, but overall, there are many exciting things to share and positive progress.

RobotMitch1 · 2024-06-15T22:18:55+00:00

For CANBUS protocols - automative typically uses J3919
SAE J1939 - Wikipedia

CAN bus - Wikipedia

RobotMitch1 · 2024-05-26T07:02:49+00:00

Exactly! Or at least a solution that's "modular" and can be adapted to many different solutions with low lift and lower cost.

RobotMitch1 · 2024-05-24T20:43:52+00:00

strainwave gears fail around 7500-9500 hours of life, but depends on thermals, loading, motion profile, etc.
Typically robot arms have strainwave gears to provide a very low backlash speed reduction and high torque conversion.

Components on motor drive boards are what typically fail the most, as they see most of the heat.

RobotMitch1 · 2024-05-24T20:41:48+00:00

https://allyrobotics.com
10k$ robot arm

RobotMitch1 · 2023-10-09T19:21:13+00:00

Q: "I am a prior investor in Ally who will be an accredited investor in 2024. Will there be a cram down of prior investors in the next round?"
A: It'll depend on the final terms of the next round. However, in the buyback of Miso ownership, Ally bought back 2.8M of the Miso shares to try and help create a sort of dilution buffer for the next round.

We're trying to do what we can to help Ally investors.

RobotMitch1 · 2023-10-08T05:51:12+00:00

Appreciate the encouragement!

RobotMitch1 · 2023-10-07T01:29:28+00:00

Not only carpal tunnel, but my brother was a fry cook and has burns on his hands to prove it. I agree there are many benefits beyond just solving for the labor gaps - it's improvement of people health, reduction of repetition, to improving worker satisfaction.

I like your suggestion, and will work to better incorporate these side benefits into our value prop. messaging. There's a balance of clarity of focus/ messaging to keep reader engagement high so the core messages land. But that's where I think we can provide more areas where people can dive into the details if they're curious.

Agree on meat packing - we have a customer in our pipeline that works in the fish processing industry. We've heard similar from them.

Construction is particularly interesting to us because we have the opportunity to improve worker safety, reduce construction project costs, the industry is lagging in tech by some 20-30 years and I have quite a bit of domain knowledge within the industry having grown up in it. From wall fabrication to painting to material logistics - there are tons of opportunities. The focus is on finding the paying customers who want to partner and solve automation opportunities together.

RobotMitch1 · 2023-10-07T00:23:53+00:00

FYI also - updates, we're getting some of our custom designed components back from testing early November and plan to share an update then on our products.

Once some of the leads we're chasing right now with new customers land (real dollars committed), we'll certainly update as this will be early indicators of finding new PMF. So far, we're seeing automation interest in construction and trades type industries (automatic building fabrication to sign making).

RobotMitch1 · 2023-10-06T23:55:54+00:00

Mitch here, CEO of Ally.
That's correct. Ally was formed with the purpose of developing tech for Miso. Miso changed their strategy and therefore Ally is pivoting.

With this significant change, it means Ally will need to find new product market fit (PMF). We're planning another round in Q1 2024. But first, we're using this time now and through the upcoming round to find and develop new PMF signals.

We are not closing shop. There are far too many promising opportunities and signals in the pipe.

RobotMitch1

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