Steve Macalbry Interviews Dan O’Toole, CEO of Arrive Technology Inc. (NASDAQ: BRSH)
Dan O’Toole, CEO Arrive Technology Inc.
Chairman & Chief Executive Officer
Interviewer: Steve Macalbry senior editor at BestGrowthStocks.Com
Interview Arrive Technology Inc.
Could you briefly explain your company’s operations for those who are not familiar?
Headquartered in Indianapolis, Ind., Arrive is a technology company focused on facilitating the last inch of the last-mile for autonomous delivery. Founded by serial entrepreneur Dan O’Toole, Arrive’s smart Mailbox-as-a-Service (MaaS) platform makes the exchange of goods between people, robots and drones frictionless through the use of artificial intelligence (AI).
Arrive holds first-position patents on its smart mailbox platform and beat organizations like the U.S. Postal Service and Amazon with its smart mailbox design, initially designed for delivery via traditional human means, as well as drones, but is now refined to also accept robotic delivery. The mailbox leverages climate-assisted cargo space, smart alerts and advanced chain of custody controls to secure the last inch of the last-mile for all shippers, delivery services and autonomous delivery networks. Arrive’s solutions are critically and uniquely positioned in the supply chain. Once at scale, we plan to leverage AI to provide users with insights that can aid businesses and consumers to lower logistical costs and capture new growth opportunities, among other benefits.
Could you please discuss growth plans for Arrive Technology over the next 12 months?
Post-merger, Arrive will leverage capital markets to accelerate our business plan execution, which includes producing and deploying our smart mailbox devices, continuing to refine our Mailbox-as-a-Service platform and exploring strategic partnerships and acquisitions. There are nearly 165 million registered mailing addresses in the U.S. alone right now, and that grows by about a million new addresses each year. We plan to scale globally.
Post-merger, what are the immediate priorities for the newly formed company?
1. Production and deployment of our smart mailbox units and AI-powered MaaS platform.
2. Identifying and making additional strategic acquisitions that will help us iterate, develop, and scale production as quickly as possible, and to also improve our product and service offerings.
How does the acquisition of AirBox Technologies fit into the future strategy of the combined company?
AirBox Technologies has merged seamlessly into the Arrive team. We had similar approaches to solving for secure package delivery and pulling autonomous delivery into the equation. We will take advantage of existing relationships for unit deployment. We will quickly expand our technical capabilities by merging our intellectual property and patent portfolios, which dovetail perfectly. Going forward, we are a stronger, smarter team with an expanded IP portfolio, bigger market reach, and more value for shareholders.
What are the long-term goals for Arrive Technology Inc. after the merger, particularly in relation to the Mailbox-as-a-Service platform?
We’ve been talking with multiple dozens of prospective partners and clients about the various elements of our service offerings. Long-term goals include deploying to the various customer types we’ve been planning for, such as healthcare networks, business parks and campuses, single and shared residences, and others, and developing new solutions for our MaaS platform to better meet the needs of these customers.
How will the combined company leverage AI and machine learning to enhance the Mailbox-as-a-Service platform and stay ahead of the competition?
We’re aiming to derive 50% of future revenue from AI/ML and related data services, leveraging unique data sources to instill trust in end-customers and deliver value through our data and privacy policies.
Additionally, our platform fosters IoT connectivity between smart properties and our devices, providing features such as recharging and enhancing signal strength. Down the road, our platform’s AI/ML-driven data insights could include interactions with household IoT devices, public safety and more. We’ve also designed the platform to allow users to alert public safety agencies and first responders to issues within their properties, envisioning a future where securely connected video services can help locate lost pets, kids, or elderly parents, reflecting the limitless applications as IoT connectivity expands.
We’re starting from a great position with our patented devices, but we haven’t stopped iterating at all. We can’t speak to specifics yet, but we anticipate that once at scale, and with autonomous delivery in the mix, the AI implications are enormous. For example, we anticipate immediate interest from:
Retailers regarding package ordering and delivery;
Carriers regarding cost savings, environmental impact and delivery accuracy:
Healthcare institutes regarding improved patient outcomes and process efficiency; and
Food delivery services regarding swiftness of delivery, condition of food items and customer satisfaction.
As our installed units’ distribution and density grow, our platform will supply valuable data for employing various AI/ML applications, increasing value, delivery efficiency, and revenue across our ecosystem of partners, services, and customers.
Here are ten potential benefits identified for ML/AI within our Mailbox-as-a-Service (MaaS) platform:
Reduction in Porch Pirate Thefts: MaaS brings an end to the theft of millions of packages annually.
Cost Savings: No stolen or compromised packages and reduced delivery truck usage lead to financial gains for consumers and businesses.
Enhanced Security for Sensitive Materials: MaaS allows only the rightful owner to access contents, preventing unauthorized access.
Improved Safety Measures: The platform detects hazardous materials during deliveries.
Advanced Consumer Data Tracking: Retailers can better track and analyze consumer data from fulfillment centers to consumers.
Environmental Benefits: Reduced carbon emissions as fewer delivery trucks traverse communities, promoting environmental sustainability.
Facial Recognition for Security: AI-enabled facial recognition enhances mailbox security, with hands-free, voice-activated capabilities.
Automated Pickups: AI handles automated pickups, providing convenience for consumers and businesses.
Ideal Temperature Maintenance: Smart mailboxes maintain ideal temperatures, ensuring the integrity of delivered items, particularly helpful for prescription medications.
Integration with Smart Devices: Consumers integrate smart mailboxes with other devices like locks and security systems.
These examples showcase the benefits of AI and ML in our MaaS platform. As our installed-units footprint expands and ML algorithms evolve, we anticipate even more innovative applications that will drive growth and revenue for Arrive.
Who do you see as your main competitors following the merger, and how will the combined company differentiate itself in the market?
Arrive stands out in the competitive landscape of smart locker and parcel companies by focusing on the critical last inch of the autonomous last-mile journey. Our distinctive edge lies in our patented technology, facilitating the seamless movement of goods and packages between people, drones, and robots.
Other major players filed similar patents but were later to file, including Amazon, UPS, USPS, FedEx, DHL, and others. Being the patent leader for other comparable technologies and services underscores our commitment to innovation and remaining a leader in the industry. Notably, our agnostic platform and solutions are robust and versatile, capable of collaborating with all major delivery services and adapting seamlessly to various forms of autonomous delivery. It’s a level of flexibility that sets us apart.
Arrive’s strength lies not only in securing drone deliveries, but also in its flexibility to work with any conventional or autonomous delivery mode. The sophistication of our technology is a key differentiator in the market and is further elevated through strategic enhancements such as the merger with Bruush and our recent acquisition of AirBox Technologies. These strategic moves help to firmly position Arrive as a leader in revolutionizing autonomous last-mile delivery.
We can further differentiate ourselves in the markets by continuing to develop in several key areas:
Innovation at the last inch: Continuing to develop cutting-edge technology and features for our products and platform, such as enhanced security features, integration with smart property systems, or eco-friendlier delivery options.
Flexible Configurations: Offering flexible and customizable solutions to meet the unique needs of different customers, whether they are healthcare networks, businesses, individual consumers, or residential communities.
Better User Experience: Prioritizing an intuitive and user-friendly platform for both the users and the administrators managing the service. We feel a more accessible and positive user experience can really set Arrive apart from competitors.
Expanded Integrations: Pursuing seamless integration with other smart property devices and services to provide a comprehensive solution for users looking to manage various aspects of their property through a more unified platform.
Scaled MaaS Platform and Services: Diversifying and expanding our MaaS platform, possibly incorporating additional services as we deploy our services across new sites.
What measures are being taken to maximize shareholder value in the short and long term, especially considering the reverse stock split before the merger?
It has always been our objective and mission to maximize shareholder value no matter what events are poised to happen. Delivering alpha to every shareholder is the number one driver in our entire company. Some of the strategies we have and contend to employ are constantly iterating on our product to deliver excellence; always adding to our strong IP portfolio; and to continue to evaluate M&A opportunities in the marketplace.
We are always thoughtful about how decisions that we make impact the share price and make decisions based on those outcomes. At the heart of it, we are all investors in the company and hold the same stock that each of our shareholders do.
Thank you for your time.
For more information about Arrive Technology:
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