Alexander Khorokhorin
CEO
22 years in engineering and M&A. EFKO — commercialisation of autonomous systems. Kronwood — USD 800m+ of shipbuilding transactions. Wood Group — USD 300m of contracts. UEC × GE joint venture. Executive MBA, Kingston.
Project teaser · Seed · Confidential
DRT
Delivery Robot Technologies
An urban delivery robot that completes the delivery at the apartment door: developed, built and operated in the United States
Seed round: Tranche 1 of $21.2m for 14.7% · the result is the MVP
Domestic development programme — details after NDA
October 2026
Concept rendering
The opportunity
A holding in a project with a detailed specification, a reconciled budget and a regulatory framework in force
$21.2mseed: Tranche 1 → MVP
14.7%investor holding after the tranche
2031EBITDA positive
$264mrevenue in 2034
4.2–6.6×Tranche 1 MOIC · IRR 23–31%
Detailed specification
208 numbered requirements with verification methods, independently reviewed by a specialist manufacturer of legged platforms
Domestic by design
Platform developed in the US from day one with a supply chain qualified for the 65% domestic content test, rising to 75% in 2029
Statutes in force
Personal delivery device statutes in Texas, Arizona, Florida, Pennsylvania, Virginia and others
Open niche
Sidewalk robots stop at the kerb; delivery inside the building to the apartment door is automated by nobody
The problem: the human drop costs the most here
In multi-unit buildings the driver’s time goes on parking, the lobby, the access system, the elevator and the corridor
$4.00–7.00loaded cost per residential dropmarket practice, 2026
30%+of households in multi-unit buildingscensus data, 2025
$14.7krevenue per robot, listed kerb operatorQ1 2026 report
<1%autonomous share of food ordersequity research, 2026
Market
- Autonomous delivery cost today: USD 5–7 per order where it operates
- Autonomous share projected to reach about 10% by 2035
- A global e-commerce group bought a wheeled-legged doorstep robot developer in March 2026
A barrier that works for the first to clear it
From 27 July 2026 mobile robots need domestic content above 65% (75% from 2029) to receive FCC equipment authorisation. A company that has cleared the test and holds the authorisation holds something scarce. The lobby, elevator and corridor are private property: access is agreed with the property manager.
TAM, SAM, SOM: bottom-up build
Derived from the number of apartment-door deliveries, not from top-down industry forecasts
TAM
$30.00bn
5.00bn apartment-door deliveries a year × $6.00. Parcels to multi-unit dwellings 3.5bn plus food and grocery 1.5bn a year
SAM
$3,060m
1.02bn deliveries a year × $3.00 (DRT tariff). Top-25 metros 60% → buildings with elevator and secure access 40% → density where the robot beats a driver 85%
SOM 2034
$264m
85.5m deliveries with a fleet of 10,000 robots. 8.4% of SAM and 1.7% of TAM; the constraint is the pace of fleet build, not demand
Cross-check: 5.00bn deliveries ≈ 714k riders × $52k a year = $37.14bn — same order of magnitude. Sources: carrier and platform disclosures, census housing data, published equity research, driver cost build-up 2026
Product: DRT-1, a wheel-legged platform
≥ 20 kgtotal payload
3–4lockable compartments
5–7 kgper parcel
Hybrid locomotion
Four knee-jointed legs with wheel-feet: rolling on flat ground, stepping on stairs
Manipulator
Intercom, keypad, elevator buttons, doorbell, light doors, handover
Narrow body
Fits lobbies and compact elevators; the arm folds within the envelope
Autonomy and teleoperation
Fallback behaviour, remote supervisor, mission logs; 1 operator per 6 → 12 robots
Safety
PL d category 3, UL 3100, speed and force limiting, authenticated handover
All weather
−25 to +45 °C, heated optics, 4D radar, operation without GPS
End-to-end delivery without a courier
Pick-up
3–4 parcels at a micro-hub
Sidewalk
Sidewalk, crossing, driveway
Lobby
Intercom or access API
Elevator
Call, floor, exit
Handover
Doorbell, verification, release
Return
Next task or charging dock
Position in the chain
Vans reach the micro-hub, sidewalk rovers stop at the kerb, indoor robots live inside one building. The stretch from the sidewalk through the lobby and the elevator to the apartment door is still done by people. DRT closes exactly that gap.
Fallback logic
Elevator busy, no answer on the intercom, customer asks the robot to wait, snow at the entrance — the robot switches to a fallback: wait, deposit into a package room locker, hand over to the concierge or escalate to an operator.
Domestic development programme
Specification complete, independently reviewed, built in the US under a turnkey contract with performance guarantees
- Specification of 208 requirements reviewed by a specialist legged-platform manufacturer
- Turnkey development contract with a US engineering firm, three firms shortlisted
- Domestic and allied supply chain qualified against the component test
- Software and model weights developed in the United States
- Contract manufacturing in Texas; full IP assignment to the company
Contractor shortlist and reviewer disclosed after NDA
Status: June 2026
The specification review confirmed the technical parameters and deliverables. The development contract is to be signed within 60 days of closing and is carried as a separate budget line, with no reliance on any exemption from the domestic content rule. Contract: $7.6m, of which $4.9m in the first twelve months.
Unit economics: 2.6–4.5× cheaper than a human drop
A robot delivery costs $1.56 against $4.00–7.00 for a human; the $3.00 tariff is 25–57% below the courier
Cost per delivery, USD
| Deliveries per day, per robot | 28.8 |
| Deliveries per year (330 days) | 9,500 |
| Revenue per robot, per year | $29,355 |
| Direct cost per robot | $10,900 |
| Contribution | $18,455 (63%) |
| Robot: batch → series | $50k → $26k |
| Payback per robot | 1.41 years |
| Robot breakeven | 10.7 deliveries a day |
RaaS model: the robot stays on DRT’s balance sheet and the partner pays $3.00 per delivery against $4.00–7.00 for a human drop — no capex and no fleet liability.
Financial trajectory: EBITDA positive from 2031
Revenue and EBITDA, USD m; EBITDA after the IP and product upgrade programmes
Revenue, USD mEBITDA, USD m
| 2029 | 2030 | 2031 | 2032 | 2033 | 2034 | 2035 | |
|---|---|---|---|---|---|---|---|
| Fleet at year end, units | 300 | 1,200 | 3,000 | 5,500 | 8,000 | 10,000 | 11,500 |
| Deliveries, million | 1.4 | 7.1 | 20.0 | 40.4 | 64.1 | 85.5 | 102.1 |
| Net profit, USD m | −16.4 | −12.8 | −2.4 | 18.1 | 45.7 | 59.5 | 76.6 |
Tranche 1: $21.2m for twelve months to the MVP
Built bottom-up: staffing plan, development contract, work breakdown; nothing spent on the fleet
Tranche 1 structure
- Team29%
- G&A and set-up15%
- Platform and software28%
- Mock-up prototype5%
- Design Competitions, certification8%
- Intellectual property7%
- Reserve to the next stage8%
36people on the staffing plan by the end of year one; fully loaded cost
$6.1mpayroll over twelve months
$4.9mdevelopment contract, first twelve months
$1.0mmock-up prototype: layout and mobility
$1.3mDesign Competition: 4 positions × 2 suppliers
$1.8mreserve to the next-stage closing
Twelve-month plan $19.4m + reserve $1.8m = Tranche 1 of $21.2m. Full breakdown in the financial model and work breakdown after NDA.
After the MVP: fleet, leasing and co-investors
The fleet is bought only against take-or-pay contracts; 70% of its cost is leasing and project finance
Bought in year, unitsOperating, units
EBITDA / debt service, ×
70%of the fleet on leasing and project finance
≥ 60%of the fleet contracted take-or-pay before each batch
2.94×min. debt cover by EBITDA at plateau
10,000robots in the fleet by 2034
Stage and financial status
DRT — Delivery Robot Technologies · pre-seed stage · product DRT-1
Stage
Pre-seed: specification complete and reviewed
Revenue, last 12 months
$0 — no sales yet
First revenue
Q1 2029 — production-intent batch
Debt and liabilities
None
Tranche 1 spend by quarter
| Q1 2027 | $1.06m/mo | Closing, contract, core team |
| Q2 2027 | $1.51m/mo | Draft design, Design Competitions |
| Q3 2027 | $1.94m/mo | Detailed design, patent filings |
| Q4 2027 | $1.96m/mo | Mock-up → MVP |
Completed to date
- Specification complete: 208 requirements, independently reviewed
- Domestic supply chain mapped against the content test
- Core team in place: CEO, CTO, COO, BDD; staffing plan for 36 people
- Memorandum, financial model, work breakdown and term sheet prepared
Team
The partner transaction, engineering acceptance, local production, anchor contracts and go-to-market
Ilya Levchuk
CTO
19 years, PhD. EFKO — built the drone and robotics line from scratch. Fplus — 42 products, a RUB 20bn+ portfolio, a team of 96. Huawei — a RUB 120bn portfolio, manufacturing localisation.
Igor Bogachev
COO
LLM in international law (Beijing), fluent Mandarin. Cross-border transactions, Belt and Road centre (Hong Kong). Foreign trade, due diligence, sanctions compliance, logistics.
Sergey Grinemayer
BDD
15+ years in industrial sales and technology transfer. Hyundai Corporation — 11 years, joint ventures and localisation, projects above USD 100m. Rusel, Vostochnoe Partnerstvo.
Hiring from Tranche 1 follows the staffing plan: 36 people by the end of the first year, key roles filled by month six.
The offer: $21.2m for 14.7%
Seed round · Tranche 1 for twelve months to the MVP · the share price is fixed at signing · 15% discount to the computed valuation
Q1 2027$3.2m
Closing, project company, development contract, core team, specification detailed
Q2 2027$4.5m
Draft design accepted, parallel development competitions launched, navigation stack
Q3 2027$5.8m
Detailed design, patent search and priority filings, building access agreements
Q4 2027$5.9m
Mock-up built and verified, architecture and detailed design accepted
Month 12 · Q1 2028MVP
Accepted against protocols: stairs under load, intercom and lift, a shift without GNSS. Then with co-investors
What the investor gets
- A 14.66% holding for Tranche 1, in share counts; the price is fixed at signing
- Pro rata participation in the next stages, ROFR and ROFO, tag-along and drag-along
- 1× liquidation preference, anti-dilution, veto over budget and IP
- A board seat, monthly reporting, access to acceptance protocols
Exit: 2034
- Enterprise value $1.02bn–$1.56bn, less debt of $89.5m
- Tranche 1 holding at exit, 9.5%: $88.7m–$139m
- MOIC 4.19×–6.57× · IRR 22.7%–30.9%
Tranche 1 valuation and cap table: holdings in share counts
Three methods weighted 50/35/15 · rate at Tranche 1 34.2% · holdings sum to 100% on every row
| Item | Value |
|---|---|
| Amount and date | $21.2m · Q1 2027 |
| Computed pre-money | $145.2m |
| Subscription pre-money | $123.4m (−15%) |
| Post-money | $144.6m |
| Price per share | $12.34 |
| Founder / investor shares | 10,000,000 / 1,717,627 |
| Investor holding after the tranche | 14.66% |
| After the 14% option pool | 12.61% |
Seed holding without taking part in later stages, %
With pro rata the holding is kept: 14.7% before the option pool, 12.6% after it
Later stages are priced at 1.15–1.81× the seed share price: each next drawdown buys fewer shares for the same money. The subscription price is 15% below the computed valuation, and for the seed investor it is the lowest price in the whole programme.
Project NPV and IRR, and the return on Tranche 1
The floor: the seed investor takes no part in later stages and is diluted to 9.5% by exit
$313mproject NPV at 15%
33.6%project IRR, full horizon
$313mNPV to the 2034 exit
55.2%IRR to the 2034 exit
Tranche 1 MOIC at the 2034 exit
Tranche 1 IRR, %
Exit: trade sale, IPO or hold
Buyers named analytically: no discussions held; the company is prepared from year one for both a sale and a listing
| Category | Companies | Likelihood |
|---|---|---|
| E-commerce | Amazon, Walmart, Target | High |
| Food delivery and quick commerce | DoorDash, Uber Eats, Instacart, Gopuff | High |
| Grocery and pharmacy | Kroger, Albertsons, CVS Health, Walgreens | Medium |
| Parcel carriers | FedEx, UPS and USPS contractors | Medium |
| Growth and industrial investors | Growth funds and industrial groups in robotics | Medium |
$1.02bn–$1.56bn enterprise value in 2034: EBITDA × 10.0 and revenue × 3.0, strategic premium
9.5%Tranche 1 holding at exit without taking part in later stages
3.22×Tranche 1 DPI if held, by 2045: 70% of cash flow from the 2040 plateau
Tranche 1 returns
Sale, financial buyer4.19× · 22.7%
Sale, strategic5.01× · 25.9%
Competitive process6.57× · 30.9%
Hold (TVPI)12.40× · 16.7%
IPO
Nasdaq growth segment; readiness at revenue above USD 150m and two years of positive EBITDA; horizon 2034–2035, free float 20–25%
Roadmap and what diligence will test
- Q4 2026
NDA, data room, due diligence, term sheet
- Q1 2027
Seed closing, Tranche 1, development contract
- Q1 2028
MVP accepted, next stage with co-investors, pilot
- Q1 2029
Authorisation, first batch of 300
- 2031
Fleet of 3,000, EBITDA > 0
- 2034
Revenue $264m, exit or hold
What diligence will test
Domestic content: bill of materials audited against the 65% and 2029 75% tests
Autonomy: manipulation, stair mobility, snow and rain
IP ownership: full assignment, escrow of documentation and code
Permits: state statutes and municipal sidewalk permits
Pilot conversion: take-or-pay in anchor contracts once the MVP funded by Tranche 1 is accepted
Manufacturing: Texas contract manufacturers, domestic components
Next step
Sign an NDA — and get data room access
- Development contractor shortlist and the specification review letter
- Investment memorandum, presentation and financial model
- Detailed specification, technical report, 79-item bill of materials
- Work breakdown, term sheet and a meeting with the team
Contact
DRT — Delivery Robot Technologies
Alexander Khorokhorin, CEO
+7 (985) 364-60-23
ak@drtrobotics.com
Telegram and WhatsApp: +7 (985) 364-60-23