Retail Capital Disruptors: Key Takeaways from the Robinhood Summit

DealMaker was a presenting sponsor at Robinhood’s first-ever annual conference in October 2024. This three-day event brought together more than 700 attendees, including hundreds of Robinhood’s power customers; A-list speakers like Daymond John, Vlad Tenev, and our CEO Rebecca Kacaba; and top-tier media outlets including CNBC, Sherwood Media, and Benzinga.

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Our booth had a massive line on all three days—an exciting validation that retail investors, even pubco-focused traders, have a strong appetite for alternative investments like the ones powered by our tech. But one of the conference’s biggest highlights was a live panel we hosted on the second day. Rebecca led a discussion with three trailblazing CEOs: Teague Egan from EnergyX, Ben Sexson from Monogram Technologies, and Rich Hull from Miso Robotics. These CEOs are not only reshaping their respective industries but also disrupting the traditional capital-raising model by harnessing the power of retail investors.

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Here’s how they’re doing it—and what other founders can learn from their experiences.

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The Panelists

Ben Sexson, Monogram Technologies

Monogram is revolutionizing orthopedic surgery with cutting-edge robotics and 3D-printed implants. Their retail investor base has fueled over $70 million in funding, enabling Monogram to innovate in a market dominated by century-old companies. “Retail capital allowed us to hit critical milestones that we needed to access deeper pools of capital,” Ben shared.

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Rich Hull, Miso Robotics

Miso Robotics brought us Flippy, the AI-powered kitchen assistant manning fry stations at quick-service restaurants across the US. With over $100 million raised from retail investors, Miso is transforming restaurant kitchens, addressing labor shortages, and becoming a cultural icon. “Our retail investors are like a word-of-mouth marketing army,” Rich explained.

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Teague Egan, EnergyX

EnergyX focuses on making lithium extraction more efficient—a critical bottleneck in the electric vehicle revolution. They recently raised $75 million in a single Regulation A+ campaign—the first cleantech company ever to max out this exemption. “Retail investing decentralizes and democratizes capital-raising,” Teague said, calling it a game-changer for companies and investors alike.

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Key Takeaways from the Panel

1. Retail Capital Drives Innovation

For these companies, retail investors did more than provide funding—they validated new ideas and unlocked critical growth opportunities.

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Ben Sexson explained how retail capital allowed Monogram to innovate despite skepticism from traditional investors: “It really enabled the company to develop technology where capital wasn’t available initially for what we were doing.” He noted that retail capital often acts as a stepping stone to institutional funding.

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Teague Egan highlighted retail capital’s ability to decentralize the fundraising process. “Traditionally, we’ve been limited to very few avenues of raising capital, mainly venture capitalists,” he said. “Retail investing decentralizes and democratizes the ability to raise money.”

2. The Power of Community Engagement

Retail investors often become brand ambassadors, creating a ripple effect that goes beyond financial support.

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“Our retail investors are like my word-of-mouth marketing army,” said Rich Hull. He shared how Miso’s retail investors amplified their story through organic social content and created buzz that helped the company grow.

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Even companies without direct consumer-facing products see the impact. “We just had an incredible Wall Street Journal front-page profile,” Teague noted, “and now we have 40,000 people sharing that because they’re excited—they’re an angel investor in this company that has succeeded thus far.”

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3. Blending Retail and Institutional Capital

Retail capital can complement institutional funding, helping companies achieve better valuations and attract strategic partners.

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Teague shared how EnergyX alternates between retail and institutional raises to maximize leverage. “We did a crowdfunding round at a $60 million valuation, which led to our first institutional financing,” he said. “That valuation then helped us secure major partners like General Motors and Posco.”

Rich explained how having 40,000 retail investors builds credibility with institutional investors. “That’s a signal to the market,” he said. “It shows there’s strong support for the company before even going public.”

Lessons for Founders: Building Success in the Digital Age

The panel offered a wealth of insights for founders navigating the challenges of building and scaling businesses in today’s dynamic landscape. Each speaker touched on recurring themes that emphasized the importance of focus, team-building, community engagement, and strategic capital management. Here are the key takeaways:

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1. Build a Loyal, Engaged Community

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All three panelists underscored the value of retail investors as more than just financial backers. Retail capital creates a community of supporters who believe in the mission of your business and act as advocates for your brand.

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Rich described Miso Robotics’ 40,000 retail investors as a “word-of-mouth marketing army.” By sharing social media posts, creating buzz, and even visiting locations where Flippy is installed, these investors continually amplify Miso’s visibility. Similarly, Teague noted that while EnergyX isn’t a consumer-facing company, its retail investor base has significantly increased the company’s profile and credibility within the battery and lithium industries.

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Founders should think of their investors as partners and look for ways to engage and energize them, whether through social media, newsletters, or opportunities to participate in the company’s growth story.

2. Prioritize Team and Execution

Great ideas require great teams to execute them. The panelists repeatedly emphasized that founders can’t do it alone. Teague shared his strategy of hiring world-class talent across every area of EnergyX, from marketing and engineering to operations. “I’ve tried to go find the absolute best people in every position so that EnergyX can execute on our milestones,” he said.

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Ben echoed this sentiment, emphasizing the importance of co-founders and collaborators. “Find at least one other person you can suffer with,” he advised, crediting his spouse and his co-founder as being critical to Monogram’s early survival.

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Startups face challenges that demand resilience and expertise. Building a team with complementary skills—and the grit to navigate tough times—can make or break a venture.

3. Stay Focused on What Matters

Rich highlighted the importance of focus, recalling how he streamlined Miso’s product strategy when he joined the company. “We decided to focus entirely on Flippy, our signature product, before expanding into other opportunities,” he said. This decision enabled the company to improve Flippy’s capabilities while reducing costs and time-to-installation, ensuring a strong foundation for future growth.

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Disruption often requires founders to tackle big, systemic problems—but trying to do too much at once can dilute resources and slow progress. Founders should identify their highest-value opportunity and commit to it fully before scaling their efforts.

4. Use Retail Capital Strategically

The flexibility of retail capital allows founders to pursue long-term goals without being tied to the demands of traditional investors. “With retail investors, there’s not a lot of pressure to act on someone else’s clock,” Ben explained. This freedom allowed Monogram to reach key milestones that proved the viability of their technology in a conservative market.

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Teague described how EnergyX alternates between retail and institutional funding to maximize leverage. Retail raises help set valuations that attract institutional partners, while institutional investments bring strategic benefits that retail investors cannot. This blended approach allows founders to retain control while accessing the resources they need to scale.

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Founders should view retail capital as both a financial and strategic tool—one that not only fuels growth but also validates their business in the eyes of other investors and stakeholders.

5. Challenge the Status Quo

Each panelist is operating in an industry ripe for disruption: healthcare, food service, and energy. These sectors are dominated by incumbents with entrenched practices, but retail capital has enabled Monogram, Miso, and EnergyX to challenge the status quo.

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“Traditionally, the venture capital world holds all the power, leaving startups with little leverage,” Teague explained. “Retail investing decentralizes and democratizes the ability to raise money.” This has allowed EnergyX to sidestep the limitations of traditional funding and gain control over their growth.

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Rich pointed out that disruption aligns investor and founder interests, creating a shared mission. “My whole job is to drive shareholder value, which benefits the investors but also benefits me personally because I was one of the first guys on the cap table,” he said.

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For founders, the takeaway is clear: identifying inefficiencies in old, tired industries and aligning with retail investors who believe in your vision can unlock opportunities that incumbents and traditional investors might overlook.

Closing Thoughts

From building communities to focusing on execution, the lessons shared by these three founders reflect the evolving role of retail capital in modern business. Founders willing to embrace disruption, engage their investors as partners, and assemble exceptional teams can turn bold ideas into thriving businesses.

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Rebecca closed the panel by highlighting the unique role retail capital plays in innovation. “Retail investors are more than financiers,” she said. “They’re partners in disruption.”

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The panelists agreed, pointing to retail capital’s transformative potential for both companies and investors. “Crowdfunding isn’t just about funding,” Rich concluded. “It’s about validation, community, and momentum.”

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For founders, harnessing this partnership is not just a funding strategy; it’s a competitive advantage.