360° Pulse Monthly - March 2023
Circle Optics, Inc.
Know-How | Synergy | Innovation -->Creators of the first, truly real-time, stitch-less 360-degree camera
Strategic Growth & Funding with COO Ian Gauger
Ian Gauger is a graduate of both the University of Rochester and the Rochester Institute of Technology. Before joining Circle Optics, he worked in the field of architecture. In 2019, he joined Circle Optics as the first employee and established all company operations, including accounting, HR, and IT. Under his leadership, the company has added more than a dozen additional staff, won nearly $5M in government contracts, and surpassed $1.6M in gross revenue last year.
How did you get to Circle?
I got my Master of Architecture from the Rochester Institute of Technology and was working with a firm in Rochester. While I enjoyed the projects I was working on, I wanted to have more strategic impact. A good friend of mine from undergrad, Circle Optics Founder Zak Niazi, and I reconnected at a wedding the summer before I joined, where he shared his innovation. In 2018, I went to the Luminate Accelerator competition to support him as a friend. It was exciting to see him win and become a part of that program. That was when he invited me to be his first employee. I thought, "Why not? Let's try something here!"
How is building a company similar to building in architecture?
In my experience, architecture requires you to be a jack of all trades. I had to know about interior and structural design, HVAC, and how all these things integrate. This type of complexity is very similar to the COO role. I am wearing many hats, including HR, finance, and IT. Moreover, I have always been someone who likes to build stuff, and for a long time, I thought that was going to be buildings. Then I realized that building companies is something that excites me a little bit more.
Last year's revenues surpassed $1.6M. What has been Circle Optics' funding strategy?
With startups, it is essential to get outside funding sources as you grow the company. We have had success with angel investment, participation in startup accelerators (Luminate & GENIUS NY), Small Business Innovation Research (SBIR) awards, and now a community round with Wefunder.
We started with angel investment and found a few company leaders who understood and believed in our technology. That funding was essential for an initial prototype and patents. Almost half our investment to date has come from participation in startup accelerators. It is important to find an accelerator that fits in with the ethos of what you are building. The Luminate Accelerator is the world's largest optics accelerator, here in the heart of optics - Rochester, NY. As creators of the world's first 360-degree stitch-less camera system, it was a perfect fit for our technology. When we made a pivot from our VR market into our drone platform, we applied for GENIUS NY, the world's largest UAV and uncrewed system accelerator. When you are considering the accelerator funding model, it is important to know what you are getting into. A lot of them take equity as part of being in the program. You have to recognize that accelerators provide more than just money; they are not merely investors. They provide guidance, mentorship, and a community that produces compound value over time.
The SBIR proposals require good technical writing - a core competence of our team. Being a hardware company, focused on R&D, this funding allows us to work on projects that require a lot of technical expertise. We love building camera systems that have never been built before. To date, we have secured nearly $5M in federal awards. This funding has enabled us to evolve our technology into a couple of different product lines.
Lastly, what we are doing right now is an equity crowdfunding campaign through Wefunder.
Accelerate Aerospace Safety - Join our Wefunder Campaign!
Within the next five years, Circle Optics believes we will be positioned as the premier panoramic camera brand in robotics, aerospace, and entertainment industries, that companies go to when they need the most advanced vision for their applications. There have been many people who have believed in us from the beginning and want to participate in our entrepreneurship journey.
Announcing Circle Optics Partnership with Airial Robotics?
Circle Optics Inc., innovators with patented technology enabling real-time, high-resolution multi-camera systems that provide panoramic video without the distortion and errors inherent in other systems, is partnering with Airial Robotics. Airial Robotics is known for patented Gyrotrak technology- a disruptive gyro/helicopter hybrid UAV solution advancing flight time, payload, range and speed over other systems. Its unique system inherent safety, night flight and all-weather capability allow for a wide range of applications and ensure a high level of operational readiness. They continue to combine proven aerodynamic principles with the latest technology. Partnership details are available.
Digital Documentarian John Kucko & Hydra Welcome Spring 2023
We have a legend in Rochester, New York: John Kucko. Most of you know him from his epic career as Sports Director at WROC Television Channel 8. He has covered the Buffalo Bills' four Super Bowl teams, the 1989 US Open, the 1995 Ryder Cup matches, and the 85th PGA Championship at Oak Hill, where he anchored WROC-TV’s coverage of golf's final major. John has been honored with the 1999 Lowell MacMillan Award for Local Sportscasting Excellence and has also been awarded five times by the Associated Press for Best Sports Coverage. He received ESPN’s ESPY Award for “Best Sports Moment in 2006.”
Over the past few years, he has been inspiring people all over the world with his “60 Seconds of Serenity” and all the beautiful sunrises across #UpstateNewYork. He refers to himself as a digital documentarian. His Facebook page has nearly 400,000 followers, and he can reach up to 15-20 million views each month. He attributes his success to his passion for sharing experiences and emphasizes the importance of capturing every moment, believing there is "no bad shot." Technology has always been something Kucko has paid attention to, especially in sports, and sports viewers benefit from technology advancements.
We asked him about the future of 360-degree imaging in sports, and he believes that in the near future, cameras might even be placed on football players' helmets.
Kucko's passion for photography has taken him to new heights, allowing him to showcase the beauty of Finger Lakes and inspire others to explore the world through the lens of their cameras.
We are thrilled to have him as a champion for Hydra - the world's only 360° seamless camera system.
You can watch our special feature with John Kucko on YouTube or listen to the program 360° Pulse Podcast - Immersive Experiences and Innovation wherever you listen to your podcasts.
360° Pulse: Immersive Technology & Innovation?
New Programs this month include:
UAV Regulation & Advocacy with AUVSI — Association for Uncrewed Vehicle Systems International 's Scott Shtofman
Listen anywhere you get your podcasts. Here are a few of our favorite sources:?
YouTube: https://youtu.be/w8hIa1Tfwnw