Growth+
“If the value for the customer is real, they’ll be willing to pay”
As part of the Growth+ initiative by Calcalist and Poalim Tech, Arad Levertov from Sunbit sat down with Adi Assayag Elmakis from DevRob to offer advice, support, and insights on entrepreneurship, startup management, and scaling companies for growth.
Arad Levertov, founder and CEO of Sunbit, met with Adi Assayag Elmakis, CEO of DevRob, which develops AI tools to streamline manufacturing processes. The conversation was held as part of the Growth+ project by Calcalist and Poalim Tech, now in its third year. The initiative is based on one-on-one meetings between founders of Israel’s leading tech companies and entrepreneurs from promising startups, with the goal of providing advice, support, and practical tools on entrepreneurship, creativity, startup management, and building companies for growth.
Arad, tell us about a crisis or challenge you encountered early on, and what you learned from it that could help entrepreneurs who are just starting out.
"The real challenge I didn’t anticipate was fundraising. When you build a company, you’re committed to what you’re doing and passionate about it, and then suddenly you realize that you also have to raise money and convince others. We come from fintech and do things that banks don’t do. When you say you’ll be able to do something that Bank of America and JPMorgan Chase can’t do, you’re either seen as very naive or simply wrong. A specific crisis point came when we were $25,000 away from running out of cash and already had about 50 employees. On the one hand, you’re speaking with investors and explaining that you need funding, and on the other hand, you have to project business as usual internally so no one feels the pressure. I learned that it’s important to believe in yourself, and also to understand that investors don’t always have the ability or desire to understand the full story. They want to see results and progress. You need to understand what they’re looking for and tell the story from that perspective."
Adi, what was your most significant challenge in the past year?
"Convincing the first companies that what we are doing will actually succeed. We operate in the manufacturing industry and develop AI tools designed to help production and maintenance teams diagnose and solve problems on the production line in real time, while analyzing all the data and processes across the company. Ultimately, the challenge is convincing managers that the system will successfully integrate into the organization, and that production and maintenance workers will actually use it."
Arad, what advice did you give Adi?
"We talked about a few things: where to build the company, which people to recruit, and pricing. I explained that customers value outcomes, not just the product itself. She needs to stand behind the value they create, not be afraid of it, and understand that if the value for the customer is real, they will be willing to pay for it."
What did you learn from each other?
Adi: "The value of speaking with someone who has already done this is enormous. It doesn’t have to be the same industry or the same customers, because in the end, many of the challenges are similar. Getting perspective from someone experienced, on pricing, positioning, and how to present your solution to customers, is incredibly valuable."
Arad: "Adi reminded me that building a startup is not disconnected from life. I’ve been on this journey for ten years, and during that time I’ve built a family and watched my children grow up. Adi is building her startup with her husband, Oren. It reminded me that you have to make sure to enjoy the journey. There’s an important goal, but the journey takes years, and you have to live those years too."
Is there anything surprising you discovered about each other?
Adi: "I learned that Arad’s house burned down in Los Angeles. I think he, on the other hand, was surprised to learn that I’m going through this entire startup process while pregnant and already raising a young child."
Arad: "It was great to see the dynamic between Adi and Oren as co-founders. On the one hand, they’re together all the time, and on the other hand, there’s a very clear division of roles. With the pregnancy and a child at home, it creates many challenges that require constant prioritization, and it was refreshing to see how they manage it."
Arad, what’s your golden piece of advice for Adi?
“Put your ego aside. Entrepreneurs may be the leaders at first, but there are always people around them, employees, customers, investors. Make everyone feel like they are part of the success, even if the idea came from you.”
