The Beginning of Something Amazing
End-of-Year Letter - 2024
The Beginnings
Theia Exponential Research Incorporated (DBA: Roger) is my second company, following Theia Technologies, a venture I started in 2017 focused on augmented reality and computer vision. Unfortunately, that company came to an abrupt end during the pandemic in 2020 due to unfortunate timing and a lack of funds. As a second-time founder, I’ve learned more from failure than success, and I believe that this new venture is a stronger, more resilient successor to that earlier effort.
Over time, I’ve identified a few key elements that I believe make a company exceptional. The first is resilience—the ability to persist through difficult challenges. During my first startup, we faced severe financial struggles and even some tragic events. Building resilience helped us navigate those hardships and keep moving forward.
I’ve always believed that an excellent company depends on a great team. Having skilled engineers and dedicated team members enables a leader to focus on critical strategic decisions rather than micromanaging daily operations. Early on, I prioritized assembling such a team. This approach not only fosters resilience and flexibility but also establishes a foundation for long-term success.
Doing the right thing consistently pays off. Honesty, integrity, and a willingness to address challenges head-on ultimately create lasting value. While financial gains are important, the true measure of a company’s worth often lies in its people, its culture, and its commitment to building something meaningful.
In late 2023, former employees of Theia approached me about starting a new venture together. Although we didn’t yet have a clear product or plan, we knew one thing: we wanted to build an outstanding technology company that tackled difficult problems. We enjoyed working together and understood how our strengths complemented each other. This new beginning felt like an opportunity to apply everything we had learned, about resilience, talent, and integrity to a fresh challenge.
At the time, I was still piloting an Airbus A330 while forming the new startup. During flights, I noticed industry inefficiencies that might be solved with modern technology. These initial observations, combined with conversations within our team, led us to develop a prototype that would later become the foundation of our product.
With a prototype in hand and a clearer sense of direction, we sought funding and applied to Techstars. Joining the accelerator was a pivotal decision. It provided valuable support, helping us refine our focus, better understand the market, and clarify our objectives. Their guidance emphasized the importance of continuous iteration—building, testing, learning, and building again. Over the past three months, we’ve made steady progress thanks to this disciplined approach.
Something About The Team
Resilience, purpose, honesty, and flexibility are at the core of our culture. In an early-stage startup, there’s no shortage of chaos and uncertainty. Despite this, I’ve seen my co-founders, Maximo, Martin, and Rodrigo consistently navigate complexity, deliver results, and adapt as needed. Their commitment to building meaningful solutions keeps us moving forward.
The Product
Our main product, Roger, emerged from personal experience and observations in aviation. The industry has yet to experience a technological transformation on the scale seen in other sectors. Many systems are iterations of older solutions, a reality driven by the high stakes of safety, regulation, and cost. The “move fast and break things” mindset doesn’t align with aviation, where reliability and safety are paramount.
Still, these constraints create opportunities. With advancements in artificial intelligence, there’s significant potential to unlock value for airlines and other stakeholders. Over the past few months, we’ve focused on a high-impact solution that addresses a critical industry challenge. Roger aims to improve operational decision-making, reducing flight times, cutting fuel consumption, and lowering CO2 emissions. By providing immediate, actionable insights for more efficient operations, Roger aspires to unlock new value for airlines and the broader aviation sector.
In 2024, we achieved several milestones that I’m proud of. Joining Techstars, establishing a partnership with Leidos for FAA operational data, and initiating conversations with potential customers validated our direction. These accomplishments show that our efforts resonate with key players and that our vision holds promise.
Looking Ahead
In 2025, we plan to continue refining Roger with a clear objective: delivering measurable value to the aviation industry. We see multiple avenues for growth and remain committed to thoroughly testing our product, proving our thesis, and preparing to scale. We invite you to join us as we work to shape the future of aviation through thoughtful, resilient innovation.
Thank you for your support and for believing in our vision. We look forward to the challenges and opportunities of the coming year.
Sincerely,
Lisandro Martinez
Co-Founder and CEO
Theia Exponential Research Incorporated (DBA: Roger)
