The first rule of startups is NEVER RAISE CAPITAL! Instead, go back, interrogate your business model and try to work out a way to create a case where you don’t need to raise capital. Seriously, if there is ANY way at all you can get your business generating enough revenue to cover your costs that’s what you should do. In fact, even if it isn’t covering costs but you can make up the difference from your savings/credit card/second job etc then you should do that for as long as possible.
Yep. After reading A LOT about the money side of startup land over the last couple of months, this is where I’ve landed. Raise to scale, not to start.
The exceptions are things like grants or government schemes, where money is given with no strings/exchange of equity.