SESeedo Financial Model
Hardware/Deep-tech Startup Financials (Free Excel Download)
Seedo makes fully automated, AI-driven indoor grow devices and containerized commercial farms for cannabis and other crops.
professionals from Deloitte
Used by professionals from
About this model
Seedo builds automated AI-driven indoor grow devices and containerised commercial farms for cannabis and other crops. Its controlled-environment technology aims to make cultivation more predictable, linking physical equipment to software, installation, ongoing operations, and evidence of crop-performance improvement.
The business requires customers to accept high upfront equipment and installation costs in return for automation and production benefits. Commercial success depends on crop yields, reliability, financing availability, and the ability to provide service after deployment; these factors matter before a hardware order becomes a repeatable sales model.
Model units sold, ASP, installations, service revenue, crop capacity, utilisation, and expansion. Include hardware manufacturing, shipping, installation, field service, software, working capital, and financing costs. Yield proof, sales cycles, equipment margin, installation capacity, service attach, customer financing, and uptime should drive scenarios.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Seedo
http:seedolabs.com
How to build a detailed financial model for Seedo
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Seedo model - distilled from its pitch deck and publicly available information.
Product & value proposition
Two product lines:
B2C - Seedo Home
- Fully automated countertop/home grow device; seed-to-harvest with no user intervention
- AI + computer vision optimises growth cycles; data feeds central Agronomy Database
- Sealed, pesticide-free environment; 24/7 growth regardless of climate or season
- Claims customer ROI in under one year vs. buying cannabis
B2B - SeedoFarm
- Commercial-scale, multi-story containerised cannabis/vegetable farms
- Yield advantage: 12,000 kg per 1,000 sqm/year at 5-floor configuration vs. 625 kg for a controlled greenhouse
- Registered UN Vendor with access to $4B annual budget across 35 UN organisations
- Revenue-share partner model on operational farms (Kibbutz Dan, Moshav Brosh)
Proprietary moat: Agronomy Database - aggregated sensor/image data from all deployed units, driving continuous ML improvement. Projected 26,280,000 hours of data/year by end 2019.
Market
- Legal cannabis market today: $9.5B
- Legal cannabis market in 2025: $55B
- Overall cannabis market (legal + illegal) in 2025: $150B
- Cannabis users aged 15–64 globally in 2016: ~192M
- Global smart agriculture market 2017: $9.58B
- Global smart agriculture market projected 2022: $23.15B
- AgTech investment flow: $16.9B, +43% YoY
Revenue model
B2C streams:
- Hardware sale - Seedo Home unit at $2,400 per unit
- Recurring consumables - $300 per unit per year (filters, nutrients, etc.)
B2B streams:
- SeedoFarm equipment / project revenue - exact pricing not stated; farm partnerships structured as revenue-share (Seedo is "partner sharing in the project's revenue")
- UN tender contracts - project-based; size not disclosed
Channels: Direct (pre-order via website); shipping to U.S. and Europe; distributor / channel partner agreements in progress
Manufacturing: Up to 2,000 home grow units/month current capacity
Traction & metrics
- Pre-orders: >3,000 Seedo Home units
- Pre-order deposits received: $2.8M as of March 31, 2019
- Manufacturing capacity: up to 2,000 units/month
- Now shipping to U.S. and Europe
- Agronomy DB projection (end 2019): >3,000 units online, 72,000 hours data/day, 26.28M hours/year
- Community: 300,000 subscribers; 50M+ Facebook views; 1M YouTube views; 85,000 Facebook followers; 43,000 Instagram followers
- Strategic investment: Cannabics Pharmaceuticals invested $2M in Seedo
- Kibbutz Dan commercial farm: est. 14 tons dry cannabis / 36 months → ~$24M estimated revenue
- Moshav Brosh farm: 12 tons dry cannabis inflorescence/year by year 3
- Equity metrics (at time of deck): OTC SEDO; ~$2/share; ~$42M market cap; 20M shares outstanding; ~40% insider ownership; ~17,000 avg daily trading volume
Unit economics
- ASP (hardware): $2,400
- Annual recurring (consumables): $300/unit/year
- Claimed customer ROI: <1 year (from avoided cannabis purchases - not modelled)
Competition / moat
- Deck does not name direct competitors explicitly
- Moat claims:
- First-mover in fully automated home grow (no user intervention)
- Proprietary Agronomy Database with network effects as unit count scales
- AI/computer vision plant models continuously improving
- Sealed/pesticide-free system differentiates on quality
- Yield superiority vs. greenhouse / indoor at scale (5-floor SeedoFarm: 19x a controlled greenhouse)
- Registered UN Vendor status
- Patent/IP position: Not mentioned in deck
Team & funding ask / use of funds
Leadership (slide 28):
- Zohar Levy - CEO & Chairman
- Daniel Birnbaum - Director (then-CEO of SodaStream)
- Attorney Pninat Yanay - Director
- Dr. Jendayi Frazer - Director (former U.S. Assistant Secretary of State for African Affairs)
- Michael Maman - CTO & Director
- Yaakov Hai - Head of Agronomy
- Uri Birenberg - CFO
- Sagi Peled - COO
Recommended financial model
- Archetype + why: Dual-segment hardware + recurring revenue model with a B2B project P&L overlay.
- B2C segment: hardware unit economics model (cohort-based: units sold × ASP + installed base × consumable ARPU). Mirrors a DTC hardware company with a razor/razor-blade dynamic.
- B2B segment: project-level P&L for each SeedoFarm (revenue-share % × farm revenue, or equipment sale + service). Pipeline-driven, lumpy.
- Not a SaaS ARR model (no software subscription). Not a marketplace or usage-based model. Not an M&A or SPAC deck.
- Forecast horizon & granularity: 3 years (2019–2021), quarterly for B2C (to track backlog conversion and consumables ramp); annual for B2B project pipeline.
- Key drivers & assumptions:
- B2C - Units shipped per quarter: start with 3,000 pre-order backlog to ship in H2 2019; ramp thereafter; capacity ceiling 2,000/month → utilise ~60% in Y1 ramp, scaling to ~90% by Y2
- B2C - ASP: $2,400/unit
- B2C - Consumable attach rate: 70% of installed base purchasing consumables annually (some churn, some grow-own nutrients)
- B2C - Consumable ARPU: $300/unit/year
- B2C - Gross margin on hardware: 30–40%; hardware-first consumer AgTech typically 25–45% at low-volume production
- B2C - Gross margin on consumables: 60–70%; closer to consumables/SaaS economics
- B2B - Active farms: Kibbutz Dan (est. $24M over 36 months ≈ ~$8M/yr at plateau); Moshav Brosh 12 tons/yr by year 3; revenue-share % not disclosed → Seedo captures 15–25% of farm revenue
- B2B - Cannabis price/kg: ~$3,000–5,000/kg medical-grade Israel (Seedo-quality pesticide-free); not in deck
- UN/institutional - pipeline value: 1–2 contracts/year in Y2–Y3; individual contract size unknown; treat as upside scenario only
- OpEx: team ~15–20 FTE at deck date; R&D-heavy; cash burn not disclosed
- FX: Israeli ops in ILS, B2C revenue in USD/EUR; stable FX for base case
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: Ship 3,000 pre-orders by Q3 2019; add ~500 new units/quarter; 2 SeedoFarm projects at plateau revenue share
- Bull: Manufacturing runs at full 2,000/month by Q4 2019; 3+ commercial farm projects; UN contract awarded Y2
- Bear: Pre-order fulfillment delayed (common in hardware); consumable attach rate <50%; commercial farms delayed past 36-month ramp
- Required sheets / outputs:
- Assumptions - all drivers, toggleable by scenario (Base/Bull/Bear)
- B2C Revenue - unit shipment schedule, installed base, hardware + consumable revenue, COGS, gross profit
- B2B Revenue - project-by-project P&L, revenue-share waterfall, timeline to cash
- Consolidated P&L - combined revenue, gross profit, OpEx, EBITDA
- Cash Flow - operating cash flow, capex (manufacturing tooling), funding requirement
- Equity / Cap Table - shares outstanding (20M), insider ownership (~40%), any dilution from raise
- Dashboard - KPI summary: units shipped, installed base, ARR (consumables), B2B pipeline value, cash runway
Frequently asked
Is the Seedo financial model free?+
Yes. The Seedo model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Seedo's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
Other Hardware/Deep-tech Startup Financial Models
Browse another startup in the same category.
ANYbotics
ANYbotics builds and sells autonomous legged inspection robots (ANYmal) for industrial facilities, targeting oil & gas, chemicals, power, offshore, mining, and manufacturing sectors.
Awake Security
Awake Security - AI-driven Network Detection & Response (NDR) platform for the hybrid cloud, positioning as the "intent detection" layer of the SOC visibility triad.
Beem
AR communications platform that overlays full-body "hologram" video of a person into the recipient's physical space via smartphone or web.
Blue White Robotics
Autonomous robotics platform converting existing farm equipment to self-driving tractors for permanent-crop growers, sold as Robots-as-a-Service.
Cambridge GaN Devices
Fabless semiconductor startup commercialising self-protected GaN power transistors (HiGaN) that replace silicon and standard GaN with higher efficiency and no external protection circuitry.
Canix
Cannabis-focused ERP (inventory tracking, compliance automation, sales management, yield forecasting) sold as SaaS to cannabis cultivators, manufacturers, and distributors.
Chobani
Chobani is the US market leader in Greek yogurt; TPG invested $671M in April 2014 for a 35% stake via a structured second lien + equity deal
Cipher Skin
Wearable sensor mesh platform that collects dense multi-modal data from human bodies and industrial objects to predict structural and functional failure before it occurs.
