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
"At DevX.Work, we’ve greatly benefited from our association with eChai. Their events and networking forums have connected us with high-potential startups, ecosystem leaders, and innovation-driven professionals — many of whom have become valuable partners, collaborators, and even clients. What stands out most is the openness and accessibility of the community — whether you're an early-stage founder or an experienced entrepreneur, eChai provides a welcoming space to learn, collaborate, and grow. It's more than just a network — it's a catalyst for real, collaborative growth. We’re proud to be part of the eChai community. Highly recommended for any organization aiming to grow within the startup space."
Umesh Uttamchandani
Co-Founder, DevX
"I attended my first eChai event 3 yrs back, and no one knew me in the market. Over the next three years, eChai didn’t only help me with knowledge or networking, but it gave me an identity from being unknown to now being recognized by a group of inspirational entrepreneurs connected with eChai, who have been gracious enough to acknowledge me and Digipple."
Viraj Rajani
Co-Founder, Digipple
"eChai is playing biggest role in my personal and professional life together. Its a community where i meet like minded people to share idea and learn from their idea. Even while playing cricket i learn something and i implement something new from that learning. Its my entry point for building network in different countries where my base is not established yet. Personally my only fun activity day in a week is eChai cricket and social."
yash shah
Chairman, ES Group of Companies
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.
