Do's and Don'ts of Fundraising for early stage founders.
Do's
- You should have a clear plan for atleast next 12 months that can be seen on excel sheet, which clearly shows, what this fund raise is going to achieve for you.
- Start the process 4-6 months before you actually need the funds
- Get an understanding of funds portfolio/thesis/decision making process by reaching their portfolio companies prior to pitching.
Don'ts
- Try not to mention about valuations untill explicitly asked. Do not become rigid on a number, try to negotiate and substantiate your number.
- Don't keep high hopes from 1 single investor, keep talking to multiple people at the time. But at same time be transparent about the options to them, whenever you start doing serious conversations on terms and stuff
- Do not mess your cap table with number of people, keep it as clean as possible, it makes your life much much more easy when raising next rounds!
Do's
- You should have a clear plan for atleast next 12 months that can be seen on excel sheet, which clearly shows, what this fund raise is going to achieve for you.
- Start the process 4-6 months before you actually need the funds
- Get an understanding of funds portfolio/thesis/decision making process by reaching their portfolio companies prior to pitching.
Don'ts
- Try not to mention about valuations untill explicitly asked. Do not become rigid on a number, try to negotiate and substantiate your number.
- Don't keep high hopes from 1 single investor, keep talking to multiple people at the time. But at same time be transparent about the options to them, whenever you start doing serious conversations on terms and stuff
- Do not mess your cap table with number of people, keep it as clean as possible, it makes your life much much more easy when raising next rounds!
The eChai Effect - In Their Words
"eChai has played a truly pivotal role in HummingBird’s journey — even before Day Zero. From ideation to establishment and into growth, it’s been a constant source of support. It connected me with incredible people who’ve become more than just friends. One of the biggest reasons I chose to stay in Ahmedabad is because of the eChai community. It has shaped my growth — both personally and professionally — in ways that are hard to articulate. Honestly, words fall short when I try to express what eChai means to me. I’m deeply thankful and forever grateful to eChai for being such an integral part of my journey."
Harsha Bhurani
Founder, HummingBird Consulting Group
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Viraj Rajani
Co-Founder, Digipple
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Umesh Uttamchandani
Co-Founder, DevX
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