They had 250+ meetings over ~3 months to raise only $1.5M? Wow. That's a lot of time that could have been spent building a product. Is this what YC money is supposed to be for? You get a few months of runway that you need to turn into a higher raise to have a longer runway on someone else's dime?<p>Are there any hacker/entrepreneur communities that focus on revenue-funded efforts instead of the self-perpetuating financing cycles?
@matijash what was the content of the follow up email you sent, was it updates on WASP, more data on traction, fundraising, ect? What did you say to prompt people to act? And did you ever pre-empt by just sending a SAFE (assuming the round is not priced) on a follow up email?
I'm surprised to see the founder describing their company as Deep-Tech, and I wonder if that description hindered their ability to raise. Not saying it isn't a technical product, but as per Wikipedia, deep tech is "based on substantial scientific or engineering challenges".
really great article, so rare to not simply say what everyone knows but in your own voice.<p>What I got out of it (which is known) is that founder+CEO is like politician. Most of your job is fundraising.
@matijash congrats on successfully raising. Your blog post is super useful. I am a founder and at an early stage now. I am trying to raise and facing the similar situation. I would like to learn more from you. I sent contact invite to you on LinkedIn. I hope you do not mind connecting.
I am getting a 404 when I visit <a href="https://wasp-lang.github.io/blog/2021/11/22/fundraising-learnings" rel="nofollow">https://wasp-lang.github.io/blog/2021/11/22/fundraising-lear...</a>. Could you double check the permissions/link to make sure everything looks correct?