Boaz Mamo, CEO And Co-Founder Of Navmatic- The Power Of High Accuracy Positioning!

Boaz Mamo is a serial entrepreneur who was one of the founders of Israel’s ever-growing mobility ecosystem. Before founding Navmatic, Boaz was the Co-founder and CEO of Drive TLV, a mobility hub for promising early-stage startups in Tel Aviv.

He was also the founder of EcoMotion, the largest Mobility conference in Israel for the last seven years, and Capsula, the first mobility incubator in Israel at Tel Aviv University.

Navmatic’s high-accuracy positioning product is an end-to-end service with both a cloud correction service and robust positioning engine which includes our proprietary sensor fusion and multipath mitigation algorithms. The solution is not a traditional PPP or RTK service and can improve GPS accuracy by an order of magnitude with no infrastructure or base stations!

In an exclusive interview with AsiaTechDaily, Boaz says:

Not to be afraid of making mistakes, but to make sure you do not make the same mistake twice.

• Failing is part of life and the process for success. 
• Follow your passion 
• Focus on your relationships with people 

Read on to know more about Boaz Mamo and his journey.

Please tell me about your personal background and What motivated you to get started with your company?

Boaz Mamo: For the last 10 years, I have worked in the mobility domain. I established an organization called EcoMotion; I established the first accelerator in the world that focused on mobility. After that, I established an innovation center for mobility called DRIVE TLV. One of the things that I noticed is that all mobility mode lacks the location accuracy needed—that is why I founded Navmatic.  

What is your current main product, and can you share any previous product pivot story to the current product?

Boaz Mamo: The current product is the sub-meter level location for micro-mobility. We offered the same solution for drones before that, but we found out that it is not a big enough market.

How much money have you raised in total so far? When was the recent funding round?

Boaz Mamo: We raised $4M in January 2019

What were the internal decision processes in determining when to begin fund-raising, and what were the logistics for this? And how many investors have you met so far, and how did you meet these investors, and which channels worked best for you?

Boaz Mamo: The founding was from the beginning of the company.

What are your milestones for the next round? And what are your goals for the future?

Boaz Mamo: Our milestones for the next round of funding are:

• Running with 2 micro-mobility customers. 
• Showing results that it’s improves the company’s ROI 

How have you attracted users, and with what strategy have you grown your company from the start to now?

Boaz Mamo: There are no shortcuts here. As a CEO, you have to get those connections if at conferences or throw market research. 

Which has been the best marketing software tool for the growth of your startup, and why?

Boaz Mamo: It was using the CRM system from day one to the company. It doesn’t matter what you use as long as you will use one. 

What do most startups get wrong about marketing in general?

Boaz Mamo: It is thinking that you start doing marketing after you have a product, but in reality, you need to start doing it from day one.

How do you plan to expand globally?

Boaz Mamo: From day one, our solution is software, and we can operate anywhere we want. 

What are the most common mistakes companies make with global expansion?

Boaz Mamo: It is waiting for it. You need to be born globally.  

How do you handle this COVID-19 outbreak situation for your company’s survival in the future?

Boaz Mamo: Our company is focused on the micro-mobility industry that suffered a lot form the outbreak. In the beginning, we started by cutting costs and stopped hiring. After a few months, we saw that micro-mobility is a great alternative for public transportation; we started to hire back again.

What are the most common mistakes founders make when they start a company? 

Boaz Mamo: Choosing the wrong partners. One should spend most of their time in finding the best partners for this journey. 

Start building something without real feedback from the customers. Make sure you have a demand before spending time on building something.

What’s the best advice you’ve ever received? And What advice do you have for someone who is interested in doing similar things like yours or in a similar direction?

Boaz Mamo: Not to be afraid of making mistakes, but to make sure you do not make the same mistake twice. 

What are the top-three books or movies (TV series) that changed your life and why?

Boaz Mamo:

The Hobbit- Open a new fantasy world for me.  

Metrix – we can hack life if we want to

Dead poetry – One man can change many people’s life 

How do you keep yourself motivated every day?

Boaz Mamo: Keep doing what I love to do.

What are the top- three life lessons that you want your (future) sons and daughters to know?

Boaz Mamo:

• Failing is part of life and the process for success. 
• Follow your passion 
• Focus on your relationships with people 

What would you like to be remembered for?

Boaz Mamo: Changed the world to be a better place.

You can follow Boaz Mamo here.

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