Behind the Pitch Podcast Episode 6: Phi

In this article, we summarize the key topics discussed in Behind The Pitch Podcast Episode 6, featuring Tassos and Stephanos, co-founders of Phi, and hosted by Panayiotis Kakourides, COO at Crowdbase. Each section is accompanied by a timestamp, allowing you to explore specific topics such as Phi's innovative CAD technology and fundraising journey. If you're interested in diving deeper, check out the full podcast episode below.

00:00 - Introduction

Panayiotis introduces the episode and Phi, a cloud-based CAD platform making waves in the design industry. Tassos and Stephanos are here to share Phi’s story and the value it offers to both designers and investors.

00:54 - Team Introduction & Background

Tassos and Stephanos share their backgrounds in software engineering and computational geometry, explaining how they met at Imperial College London and how their shared passion for complex design problems led to the creation of Phi.

03:38 - Introduction to Phi

Phi is a cloud-based CAD application focused on free-form surface modeling. Designed for product and industrial designers, the platform allows for intuitive design of organic shapes while maintaining precision, filling a gap in the traditional CAD market.

06:20 - Inspiration Behind Phi

Phi’s founders were motivated by the frustrations they encountered with existing CAD tools, which were slow and difficult to use for free-form design. They set out to create a tool that could simplify and speed up the process without sacrificing quality.

09:03 - What Makes Phi Innovative

The “edge-based design paradigm” is one of Phi’s key innovations, allowing designers to manipulate complex shapes more efficiently. This reduces the time and effort needed to create high-quality free-form designs, addressing a major pain point in the industry.

13:19 - What is Free-Form Design?

Tassos and Stephanos explain free-form design as the creation of shapes that cannot be easily described using standard geometric forms, such as cylinders or spheres. Phi makes it easier to handle these complex designs without relying on traditional methods.

14:49 - Cloud-Based Solution

Phi’s fully cloud-based platform enables seamless collaboration, allowing teams to work on projects in real-time from anywhere in the world. Traditional CAD tools often rely on offline sharing and suffer from versioning issues, which Phi overcomes by operating entirely in the cloud.

19:05 - Past Mistakes & Lessons Learned

The founders reflect on their past mistakes, specifically their over-reliance on single clients and their previous focus on component software. With Phi, they have pivoted to targeting the end user directly and offering a complete product solution, which has made the company more flexible and scalable.

26:10 - Market Size & Key Players

The CAD market is expected to reach $28 billion by 2030, with over 45 million designers worldwide. Phi aims to capture a portion of this market by providing solutions that cater to industries like 3D printing, prosthetics, and product design. The company is also collaborating with key players such as Onshape and PTC.

31:46 - Potential Future Acquisition

Phi is an attractive target for acquisition by major companies like Autodesk or Adobe, which are expanding into the 3D design space. Tassos and Stephanos explain how Phi’s innovative approach to CAD and cloud-based collaboration makes it a valuable addition to any tech or design company’s portfolio.

34:41 - Fundraising & Go to Market

Phi has raised $2 million in previous funding rounds and is now raising an additional €100,000 to €500,000 via crowdfunding. This capital will be used to bring the product to market and accelerate commercialization efforts, with the product already fully developed and operational.

39:40 - Why Should You Invest in Phi?

Tassos and Stephanos believe now is the perfect time to invest in Phi. With a strong team, a unique and innovative product, and a market that is rapidly growing, Phi is positioned for significant success. The demand for free-form design and cloud-based solutions continues to rise, making Phi a compelling investment opportunity.

Interested in learning more about Phi?
Visit Phi's website to explore their product or head over to their campaign page to learn about their crowdfunding campaign and how to invest.