Muneeb Mushtaq: Aromacology, Drake, and Entrepreneurship

Author(s): Scott Douglas Jacobsen

Publication (Outlet/Website): The Good Men Project

Publication Date (yyyy/mm/dd): 2024/12/07

Muneeb Mushtaq is a serial entrepreneur and the CEO of Airzai, a tech-enabled health and wellness company. With a focus on leveraging AI and machine learning, Airzai is transforming the fragrance industry with its smart-home diffuser, Airzai Aroma. Before this, Muneed founded and led AskforTask, one of Canada’s largest on-demand service platforms. He is a keynote speaker and contributor to Forbes and Thrive Global publications.

Mushtaq discusses Airzai’s creation, inspired by a need for healthier, AI-driven fragrance experiences in a market dominated by synthetic products. Mushtaq highlights Airzai’s premium approach and its differentiation through quality. He shares insights on securing funding, partnerships, and his journey as an entrepreneur. Mushtaq emphasizes the importance of managing energy and how it can lead to personal and professional success.

Scott Douglas Jacobsen: Today, we are here to discuss Airzai, and we’re joined by Muneeb Mushtaq. There are many aroma, oil, and diffuser devices around, so what inspired this particular one tied to AI? How does Airzai carve out its own niche, not just in a crowded market but also in a market that’s not necessarily novel?

Muneeb Mushtaq: Yes, thanks, Scott, for having me. That’s a great question. I’m just diving right into it—before we discuss why AI was involved, we need to take a step back. I’m sure you’ve used candles in your life, right?

Jacobsen: Yes.

Mushtaq: Candles have existed for hundreds, if not thousands, of years. They’re one of the most ancient tools. Initially, they were made from natural wax. Still, as humanity progressed and evolved, like with most things, they became more synthetic. This was done to increase production efficiency and enhance the properties of the candles. Now, almost 90% of the candles on the market contain synthetic materials that can harm users.

The same goes for diffusers. They have been around for less long than candles. However, most work by adding a few drops of essential oil to water, creating a pleasant experience. Many products in the market are healthier than they seem. That’s where Airzai comes in—we’re focused on building a better, healthier experience driven by AI for people using these products.

We make many daily decisions based on emotions. By improving the quality of experiences, like with Airzai, we help people make better choices with wellness products supported by AI technology.

Jacobsen: So, before we get into the technicalities of the device, to the original question, then, what inspired you to create a diffuser, an aroma diffuser, in a market that’s not entirely saturated but not entirely novel either? It’s one of those interesting middle-ground markets where you can find a niche and develop a bit of a new market.

Mushtaq: Absolutely. It comes from my experience as a serial entrepreneur, having built and sold two companies. I try to find a product category ripe for disruption but not entirely new—so we’re not reinventing the wheel. We took a segment that had been stale for a long time, where not many people were paying attention, and decided to create some disruption. Airzai is a product born out of my passion for scent and my experience in tech. What started as a passion project has now turned into a venture, and we’re quite excited about what we’re bringing to the market.

When you bring a product to the market, you can distinguish yourself at the extremes in one of two ways. One is through quantity, where you can distribute many products at a lower cost than competitors. Alternatively, you can distribute one of the highest quality products to a more select audience and build a brand based on quality.

Jacobsen: When you look at this product, I know the price, after tax, is over $600 Canadian. In a tight economy, when people are budgeting carefully, how do you make the sale or the pitch to people and distributors, convincing them that this is a product they want and may need to add more quality to their lives?

Mushtaq: Great question. The way we see it, Airzai is priced well above where the market stands for regular diffusers. That’s why we say Airzai is not just a diffuser—it’s a lifestyle. It’s something that integrates into your daily life.

When you look at any product category, some items serve the utility you need. For example, you can buy a vacuum cleaner for $20 at Walmart, but then you have Dyson, which costs $600 to $700. What’s the difference between Dyson and a no-name vacuum cleaner? They both clean floors, but the difference lies in the engineering, the experience, the science behind it, and the added utility you get from it. Every time you use that Dyson, it delivers more value.

Coming back to Airzai, this industry hasn’t seen a Dyson-level product or a premium experience. Airzai is designed for people who appreciate high-quality design and premium experiences and, above all, prioritize health benefits and healthy living. They understand that they don’t want to introduce toxins into their environment. Instead of just scenting their room, they want something that brings health benefits.

Mushtaq: So, when you pile up all these things, the value for money far surpasses what the user is paying. That’s reflected in the demand we’re seeing. The first two batches we’re launching are completely sold out. Our beta users are loving the experience. For example, Jonathan from Miami uses a Nespresso coffee machine and a Nest thermostat. He falls into the category of preferring high-quality products over just utility.

In his words: “Mushtaq, I wish this product had existed long ago. It’s just seamless. I don’t have to clean it. I don’t even have to think about it. It just works. Whenever the scent ends, I reorder at the tap of a button, or I can even automate it. The system knows when my scent is running low and places an order for me when I’m in subscription mode.”

So, this whole experience really defines what you’re paying for. We’re confident that anyone who becomes an Airzai customer will not be disappointed.

Jacobsen Douglas Jacobsen: Now, you did get an endorsement or something of that nature from Drake, a prominent artist. How did that come about?

Mushtaq Mushtaq: Yes, well, Drake is one of our investors. As I said, it’s a venture now, though it started as a passion project. Building something great and truly focused on bringing the market to its desired experience naturally attracts the right audience. When we got introduced to Drake’s team, the discussion was organic. He loved the product, and it just made business sense, given the scale of the project. So, we ended up partnering, and I’m grateful to have him on this journey with us. We’re excited to see how far we can take this together.

Jacobsen: When people think of a regular diffuser, they’re not thinking of a lifestyle product—they’re thinking of something more basic, like a device for vague aromatherapeutic activity. They might think of candles or just putting oil into a slot for a coarse aroma distribution throughout a room. How does AI make this more systematic, ergonomic, and precise regarding human control?

Mushtaq: Yes, let me revisit one term you used for the audience: aromatherapy. We all know what aromatherapy is. It’s been around for a long time. Ancient Chinese cultures, for instance, practiced aromatherapy with ingredients like white jasmine, one of the key ingredients in our scent called “Serene Sleep.”

Aromatherapy has long been used to bring physical and psychological benefits, like calming the mind and body or aiding in healing. Some essential oils can even be applied to the skin for pain relief. So, aromatherapy has been around for ages, but at Airzai, we work with aromacology. Aromacology is the study of how scents affect emotions and behaviour. Through AI, we can personalize and optimize scent experiences for individual users, tailoring the effects based on preferences, needs, and the space in which the scent is used.

Jacobsen: Now, that’s a new term that hasn’t yet been explored in more detail. The future lies with scent science, especially aromacology. Could you explain what aromacology means and how it relates to emotional states?

Mushtaq Mushtaq: Absolutely. Aromacology is the study of how scents impact emotions or the emotional state of human beings. Looking at it from a bigger perspective, it’s about enabling a scent to bring someone the emotional state they desire. That could be feeling relaxed and energized, getting better sleep, or improving meditation.

AI helps us achieve this by collecting data about how scents impact emotional states, both on an individual level and across different demographics. By utilizing AI technology, we can aggregate data and train models to ensure the experience is so personalized that it feels custom-made for each user. The AI doesn’t just understand your current mood—it can predict your mood and offer a scent experience to help you achieve your desired emotional state.

Much innovation is happening in this space, which has been overlooked for a long time. We’re excited to be pioneers in disrupting this space. Thanks to the availability of advanced AI technology and expertise, we can finally use it to deepen the science of scent.

Jacobsen: What other areas or markets could this device and technology partner or integrate with other products, systems, or distribution? For example, you buy an Airzai product and then get a complementary product, or is it more about focusing on one specific type of oil?

Mushtaq Mushtaq: Yes, the oils we use are non-refillable, but we’re looking at complementary products that align with the biohacking trend, which is about improving longevity and quality of life. People are focusing more on preventative measures to live better lives.

For example, red light therapy is gaining popularity. If you’re doing a 10- to 15-minute red light therapy session or a cold plunge, having an additional sensory element like a scent can take the experience to the next level. We’ve tested this in different settings, and the results are amazing.

You also have devices like the Apple Watch, which tracks your heart rate, blood oxygen levels, sleep, and activity. By integrating scent experiences with these devices, we can further enhance the user experience. There’s much opportunity to work alongside these devices to bring true value to people.

When you look at other products on the market, there isn’t a company as forward-thinking in introducing scent and the olfactory system into areas that impact our quality of life—like sleep, recovery, workouts, eating health, and overall well-being. As time passes, we’ll introduce exciting partnerships that truly add value for our customers.

Jacobsen: You have a lot of seed funding for this project. Many people may need to realize that while much money is available for various initiatives, getting that funding is another endeavour altogether. When you’re raising, or at least when you have a couple of million dollars in seed funding, how do you manage that, especially in a slightly saturated market? It’s not entirely novel or a brand-new market, but it still seems promising.

Mushtaq: The way I look at funding is that, of course, in the startup world, there’s a lot of talk about how much you should raise when you should raise it, and what the right amount is to raise. I advise and work with many startups to share my knowledge about it because I’ve also successfully raised funds for my past two startups.

When we started this project, Airzai, one thing was clear: because it’s a hardware project and we’re building the technology in-house, there would be much R&D needed to develop this product. Not only is it a hardware project, but it also requires software interactions and integrations. And we must remember that implementing AI is a complex and demanding task, especially when building the whole structure around it.

It truly matters how much development is needed and the dynamics involved in bringing the product to market. It was always clear that we wanted to be the market leader. Attracting the right partners, engaging with them, and involving them in the project at this stage was vital. I’m happy that we got that done successfully, and the product we’re bringing to the market now will truly reflect that.

I want to quickly address entrepreneurs thinking about raising money or figuring out how much to raise. It comes down to how big your vision is. When you aim high, looking to create a global brand and make an impact, you need that fuel to get there. So, it’s about more than just getting the right amount of money; it’s also getting the right partners who believe in your vision and can support you in bringing it to reality.

Jacobsen: That’s a good point. Many people don’t realize how much of an underappreciated skill raising any seed funding is, let alone raising seven-figure sums. It’s an impressive feat to have accomplished.

So, you’re calling from Dubai now, but you’re a Toronto boy—or, more precisely, a Canadian like me. Is the work you’re doing in Dubai part of an extension of Airzai, or is it for something else entirely?

Mushtaq: Yes, thanks for bringing that up. First, I completely agree with your comments about fundraising. It’s difficult, and people who haven’t been entrepreneurs or started a company often need help understanding the complexities and hardships of raising capital. It’s a sales job—you’re selling your dream to someone. That’s the first thing. The second challenge is that you’re selling something that exists in the future.

So, it’s not like you’re just selling a car, where the moment they invest, they immediately reap the benefits. Nor is it like the stock market, where you see daily fluctuations. It’s an investment in a future—a distant future. That’s why I love sharing my knowledge, experiences, and even failures, along with how I learned from them and the methods I’ve developed after countless setbacks.

I always tell people that we currently have 35 people on our cap table, but that’s the result of pitching to, well, I’ve lost count, but maybe over 250 people—probably between 200 and 300. It’s not just a numbers game, however. When you realize that you need someone as an investor and pitch directly to them, you start converting. I always say that this requires much effort. Still, in the end, when you have the resources to support your dreams and bring them to reality, that should motivate you to stay persistent and follow through.

I grew up in Canada and went to the University of Toronto, but I’ve now decided to call Dubai my second home. I’ve been spending much time here, and this region has a lot of opportunities and excitement, especially post-COVID. I’ve always believed in the potential of this region. I have many local Emirati friends, and we even have investors from here. So, it was natural for me to situate myself in Dubai.

I believe that people should expand beyond the city or country they grew up in. There’s so much potential, opportunity, and beauty outside our upbringing. It would be a shame not to explore that if you have the means to do so and see the possibilities that come with it. Dubai has been an amazing place for me to grow and contribute, and I’m very bullish on the future of this city.

Jacobsen: Do you have any final thoughts or feelings based on today’s conversation? We can also hyperlink to the website for more information.

Mushtaq: In my final thoughts, I’d first like to say great questions! It was short and sweet, and I had a great time chatting about what we’re building and bringing to the market.

Ultimately, what I always tell people—and I’ll share this here as well—is that when we understand the importance of how energy flows in our lives, we tend to elevate ourselves. My request to those listening is that aside from everything we’ve discussed about the product, I hope this conversation motivates someone to take action, chase their dreams, and build something meaningful.

Finally, pay attention to your energy levels. We often ignore this, but it’s crucial to living a more balanced and fulfilling life.

When we’re elevated, focusing on our energy, and at that level where we not only have high energy for ourselves but can contribute that energy to the people around us, it creates magic in our lives. So, if someone can take away something from this podcast, I will thank them for their time listening to us having a good conversation. But more than that, do an energy audit.

One lesson I always teach people is to become the CEO of their lives—their Chief Energy Officer. Focus on your energy. When you manage your energy, you unlock greatness in your life. I hope someone takes this to heart and implements it, and I’m sure they will see amazing results. Thank you so much for the opportunity and your time today. It’s been an absolute pleasure.

Jacobsen: Thank you! 

Mushtaq: Appreciate it, man. Thank you so much. Take care.

Jacobsen: You too! Have a good one.

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