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 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
"The eChai platform has been super valuable for me - it has helped me gain a deeper understanding of domains in the startup and tech ecosystem. What stands out most is the celebration of knowledge, professional growth, and entrepreneurship - it’s one of the best for the Indian ecosystem. Along the way, I’ve also been fortunate to make some great friendships and connections too."
Shalin (Shawn) Parikh
Founder, MyCPE One
“You don’t plan to build a company via eChai. You just keep showing up … and one day, you realize you did.” I’ve known Jatin since 2012, when I was still deciding what kind of second innings I wanted to play as an entrepreneur. Over the years, through events, chai breaks, intros, and seemingly small conversations, eChai helped shape not just Upsquare but also refined the lens through which we see collaboration. At Upsquare, we’ve hired talent, met partners, discovered co-investors, and built lifelong friendships. One of our joint ventures exists today only because a casual eChai memory sparked a deeper trust. Now, as we build House of Starts — our venture builder — eChai continues to fuel our mission: co-creating a shared future. eChai isn’t just a startup network. It’s a trust network. And for business builders like me, that makes all the difference."
Utpal Vaishnav
Founder @ Upsquare & House of Starts • Angel Investor + LP
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.
