If you are fundraising in 2024, then you should read this post.
Recently attended a startup event "Fundraising for Startups" as a panelist. As the only startup founder among the VC panelists, it was interesting to hear their perspectives and provide my own. The event was organized by HSBC in collaboration with eChai Ventures.
The panel was focused towards the early stage with the presence of funds such as Leo Capital, Warmup Ventures and Aeravti Ventures.
The overall takeaways were the following:
1. Dry powder money is still there and startups with clear vision and execution are getting funded.
2. The time for due diligence has increased and therefore, having enough runway is important before fundraising.
3. AI as a use case is certainly a favorite area but not the only one attracting funding.
4. College degrees are not that pertinent anymore as long as you have a solid business understanding and team (Lots of non-IIT and non-IIM founders are emerging) - alumni network may open doors but won’t convert only on basis of college.
Money flows where the innovation is and India now has the 3rd largest startup ecosystem in the world. In Q1 2024, Indian startups raised a total of $2 billion fund and added three unicorns to its fleet in 2024 so far - fintech SaaS Perfios, Bhavish Aggarwal's AI venture Krutrim and Logistics startup Porter. While overall investor sentiment has been cautious, the funding winter scenario is a bit milder than expected as the growth of the Indian economy encourages investment in new ventures.
Overall, lots of new learnings with old and familiar faces. Thanks to Jatin for bringing us all together to share our learnings and network with fellow founders, investors, and industry leaders. Looking forward to more such events in the future.
Recently attended a startup event "Fundraising for Startups" as a panelist. As the only startup founder among the VC panelists, it was interesting to hear their perspectives and provide my own. The event was organized by HSBC in collaboration with eChai Ventures.
The panel was focused towards the early stage with the presence of funds such as Leo Capital, Warmup Ventures and Aeravti Ventures.
The overall takeaways were the following:
1. Dry powder money is still there and startups with clear vision and execution are getting funded.
2. The time for due diligence has increased and therefore, having enough runway is important before fundraising.
3. AI as a use case is certainly a favorite area but not the only one attracting funding.
4. College degrees are not that pertinent anymore as long as you have a solid business understanding and team (Lots of non-IIT and non-IIM founders are emerging) - alumni network may open doors but won’t convert only on basis of college.
Money flows where the innovation is and India now has the 3rd largest startup ecosystem in the world. In Q1 2024, Indian startups raised a total of $2 billion fund and added three unicorns to its fleet in 2024 so far - fintech SaaS Perfios, Bhavish Aggarwal's AI venture Krutrim and Logistics startup Porter. While overall investor sentiment has been cautious, the funding winter scenario is a bit milder than expected as the growth of the Indian economy encourages investment in new ventures.
Overall, lots of new learnings with old and familiar faces. Thanks to Jatin for bringing us all together to share our learnings and network with fellow founders, investors, and industry leaders. Looking forward to more such events in the future.
The eChai Effect - In Their Words
“eChai has been that turning point in my journey. It gave me a platform when I wasn’t looking for visibility but needed direction. Over the years, it became more than just a network. It became my tribe; a place where conversations sparked collaborations, and strangers became trusted sounding boards. What I value most is how effortlessly eChai brings people together - no airs, no filters, just genuine people with shared dreams. I owe a lot to this community and to Jatin, whose consistency and belief in people have shaped journeys like mine. Forever grateful to be part of something so real.”
Rushabh Shah
Managing Partner - STIR Advisors
“I have no hesitation in saying that my association with eChai has been a gateway into the startup ecosystem. Through this platform, I’ve had the opportunity to connect with many young and dynamic entrepreneurs. These interactions have been immensely enriching - I’ve learned a great deal and have always tried to offer guidance whenever approached. It’s a truly symbiotic relationship that I deeply value, and it wouldn’t have been possible without eChai.”
Syed Nadeem Jafri
Founder, Hearty Mart
"We found eChai to be a force multiplier throughout our startup journey. Through it, we connected with folks from DevX, Allevents, Plutomen, and more - many of whom became friends of IndiaBizForSale.com and even part of our clientele."
Bhavin S Bhagat
Co-founder of Indiabizforsale and IBGrid, TiE Ahmedabad President
eChai Partner Brands
eChai Ventures partners with select brands as their growth partner - working together to explore new ideas, open doors, and build momentum across the startup ecosystem.
