Lux Aerobot

Katrina Albert and Vincent Lachance, co-founders of Lux Aerobot, a space robotics company operating in Canada and Australia, asked for $250,000 for 2.5% of their company. The business launches stratospheric balloons that fly at 20 kilometres altitude, equipped with thermal cameras and AI, to detect and simulate the growth of active wildfires and share that data with authorities; they are the only private company certified by Transport Canada to operate in controlled airspace. Customers are primarily provincial governments, paying a recurring fee of roughly half a million to a million dollars per year per province for wildfire data, with plans to expand from national security and mapping sectors; the company did $1.2 million in revenue in the last fiscal year, largely from an Australian government contract following the 2019-2020 bushfires.

Wes Hall went out because 2.5% equity was not enough return for the capital-intensive business. Manjit Minhas went out over concerns that government customers are slow and unpredictable. Michele Romanow offered $250,000 for 7.5%, which Arlene Dickinson matched. Vincenzo Guzzo went out, unable to reach a number that worked for him. Robert Herjavec offered $500,000 for 10%, and the founders accepted his offer.

Lux Aerobot is still operating and sells through its website.