It's been a busy summer for LettsGroup and its ventures. Its AI VentureFactory is nearly 6 months into internal release and with its first cohort of ventures. It supports the entire venture building process from idea to exit using the Innov@te methodology and its 7 core stages, 49 steps and 100's of sub steps. The software platform for early stage ventures and investors provides a suite of integrated apps, templates and tools with AI throughout. It is designed to double venture success rates, reduce the cost of venture building and scale ventures more effectively. Most recently the team have been expanding key processes in the platform, including deeper tech and automation from data to customer feedback to product enhancements, plus faster customer data to CRM and a new, developing approach to business planning, financial forecasting and investor marketing.
August was a breakthrough month for LettsCore. After going live on the public blockchain and across the IPFS, this new gen distributed media management platform is already logging faster 'read' times than traditional media with lower compute costs. Its first corporate customer is switching out of its traditional CMS platform and is fully connected to LettsCore's API's and began to roll out its first cohort of users. The engineering team delivered enhanced update speeds and rate limiting capability which led to a 10 fold improvement in both read and write performance. Its first customer is stress testing the platform with, initially, hundreds of users and thousands of content items. The team extended the SaaS dashboard to include a Public Content View, My Content View, Organisation Content View, Application Content View and Application and Organisation Setup - preparing for smaller and mid sized media customers to sign up and get going all online later in Q4.
LettsNews' private beta is almost complete and ready to go live in public beta at the end of September. This new software platform to deliver advanced, cost effective newsroom tech to any journalist, content manager or publisher is already generating early revenues which is very positive. LettsNews 1.0 is basically complete having implemented subscription management, payments, team chat for each 'Content Item' or 'Story' and advanced search. The next few weeks will focus on UX and UI enhancements alongside final preparations and product performance prior to public beta. The LettsNews team have a clear vision to build a software company that can genuinely change the business process and economics of the news industry. It fundamentally alters the way in which news is gathered, published and distributed providing strong cost benefits and alternative revenue sources to its users.
9 months after LettsArt's market launch the art-tech venture is growing at quite a pace. Already 575 art galleries use its software to manage, distribute and sell art with more than 1 new art gallery signing up a day. This subscription based, no-code AI platform helps its users sell art more effectively, generating transaction fees for the platform. A growing number of galleries have already upgraded their subscription plan, building early subscription revenues. LettsArt 2, a major software upgrade released last month, is proving to be a commercial success attracting quality independent art and artist galleries and accelerating the process of building an online gallery with modern software to manage a professional, scalable art business. LettsArt 2 offers a host of new features including multi-art shows and sales, AI generated artwork descriptions, AI generated tags on artworks, AI generated posts based on featured art, AI generated art from text prompts and an upgraded AI help system. Galleries using LettsArt software have attracted over 1,200 collectors and even more followers. This burgeoning $550bn industry is in need of a technology driven shake up. LettsArt is well positioned to help make that happen.
LettsSafari is out of extended beta and gearing up for its full market launch in October. This digital, subscription based climate venture has had quite an impressive beta launch attracting 600 subscribers with zero external marketing. Its promise of 'building rewilding safari parks with you' looks quite timely. The team's expertise in smaller-scale, mass market rewilding is unparalleled. We are excited about its new Company subscriptions and a higher tier 'Patron' offering for individual subscribers. Their technique for natural tree growth. planting for enhanced carbon storage and the very concept of eco wild spaces in miniature is quite alluring. Their established rewilding safari parks and gardens are a sight to see.
We highlight a few of our ventures in each monthly edition of The LettsGroup NewsFlash. To explore other LettsGroup ventures go to LettsGroup/ventures.
