Facture

As founders, there are two things we know all founders hate:

1. Raising money (that’s ofc why we built quick pitch!)

2. Taxes

Thankfully, the guys at Syntax are using AI to mean you never need to worry if your accountant has done the tax bit wrong.

Because let’s face it, no one is ever 100% on their tax return.

We registered for early access as soon as they asked for a feature on quick pitch because who doesn’t want that peace of mind…

Syntax are giving quick pitch readers fastpass to the front of the early access waitlist and a 25% discount on first-year subscription fees.

Building a company is hard, make your life easier by cutting out the stress of your tax return

Meet the founders

• Cofounder and CEO, Christian Huhnt: Ex LSE MSc of Information Systems, Ex intern at Sotheby’s and independent fine art advisor.

• Cofounder and COO, Georg Keller: Ex Hult International Business School and NED of Siegwerk.

The Market

• In the art market, manual processes without alternatives lead to poor due diligence and mis-cataloguing, causing high costs and time expenditure, fostering uncertainty and risk for investors and collectors.

• $3.5 billion is spent unnecessarily on researching, attributing, and (re-)cataloguing art due to outdated, incomplete databases.

This startup is solving two key problems:

• Misinterpreted data leads to an estimated 10% of all artworks in circulation that are believed to be forgeries.

• Only less than 1% of critical information from Catalogues Raisonnés is readily available online today.

Facture offers exclusive, comprehensive art data unavailable elsewhere, even in books, streamlining research and authentication with a fast, reliable digital platform.

We get a tonne of applications from founders who want to be featured but either don’t quite make it.

We also speak to lots who want to to meet our network but don’t want to be public about their fundraising.

So, we’re thinking of providing you with a biweekly newsletter of all these startups and the most important bits with the option to get an intro.

This will be a paid newsletter but we want to see if there’s demand. Let us know below 👇

Quickfire

Traction Metrics: 

• 17 million artwork records, over 300 volumes of the top 100 artists, covering more than 50% of their entire works ever produced.

• 170+ signups / active users immediately after Beta launch many being world renowned auction houses, museums, galleries, collectors and artist foundations.

  • Phillips, Heritage, Christie’s, V&A etc representing £1m+ in potential ARR when subscription discounts are removed and additional addressable seats added.. (1430+ users at £700 ARPU = £1,012,440)

• > £750k invested to date

• Client testimonial from the Owner & Director of VAN HAM “Having already scanned a large number of catalogues, Facture constituted the logical next step in streamlining our operations”

Competition

• artnet, artprice, LiveArt and MutualArt.

  • Facture are the first to bring the existing and publicly available offline data set from published catalogues online achieving a full 360-degree overview for each artist.

  • Blockchain startups. Have build art registry’s, but this is highly dependent on user input and hence difficult to build out in a reasonable pace.

  • Google Art project. Have started to digitise what is hanging in museums and public collections, but often forgetting the vast amount of works in their storages, which only represents the institutionally owned artworks anyway.

Our take

Let the people decide

Last feature’s results

• The people have spoken: Our readers were BULLISH on NeuWave. Vote in the poll above to see how your decision stacks up against thousands of founders, investors and operators.

• Here’s what you guys had to say: “Anything that improves safety of the employees and cargo will have a strong backing”