Filo, IoT Startup: Pivoting from Consumer Tech to a Niche Market and 3X the Revenues

Founders Espresso Shots: featuring shot-size inspiring stories, key lessons, and practical tips from Hidden Champion Founders to boost their entrepreneurial journey.

Oct 24, 2024

🚀 Growth Hack

Pivoting to a Niche Market

Filo started as a Bluetooth tracker company in 2014, but scaling globally was tough without marketing funds. In 2019, they shifted focus to baby tech with TATA, a device that became legally required in Italy, tripling revenue by 2020. This pivot showcased the power of adaptability.
Advice: Embrace change—adapting quickly can open unforeseen opportunities.

💡 Founder Spotlight

Andrea Gattini’s Unexpected Path Andrea stumbled upon entrepreneurship while studying economics in Rome. Rejected at first, his persistence paid off a year later when he joined an innovation lab. Along with his co-founders, Filo emerged and gained momentum in the Luiss Lab accelerator, raising €500k in their first funding round.
Advice: Persistence in the face of rejection often leads to greater opportunities.

🗝 Founder Tips

Passion and Motivation

Andrea believes passion and motivation are essential. Initially driven by ego, he learned over time that deeper reasons fuel long-term success. As the business evolves, so should your "why," shifting from personal gains to positively impacting others.
Advice: Revisit your "why" regularly; it will keep you going through tough times.

🛠 Startup Tools

Building with Community Feedback

Filo’s early product iterations were guided by informal feedback from coworkers and startup peers. While the feedback process is now more structured, those chaotic early days were essential for fast growth and refinement.
Advice: Early, scrappy feedback can speed up your product’s growth more than perfect planning.

☕ Cup of Founders Wisdom

Making Hard Decisions

The pandemic halted Filo’s growth. Andrea chose not to cut costs by layoffs, even though it wasn’t financially sound. He believed in maintaining team unity, though the long-term impact of such decisions often becomes clear only years later.
Advice: Hard choices won’t always feel right—trust your values to guide you.

💌Community Shoutout - We are almost 100 People!💌

A huge thank you to the first subscribers of Founders Espresso, We have reached over 80 Subscribers!! 🙌 I am very very very very x80 times grateful to have you on board.

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🔋 Boost of Inspiration

Enjoying the Process

Andrea’s journey has evolved from self-centered goals to focus on enjoying the entrepreneurial process with his team. He values building something meaningful over chasing trends or massive scale.
Advice: Don’t just aim for success; make the journey enjoyable for yourself and your team.