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
"After moving back from the USA, eChai became my go-to space to learn how the Indian startup ecosystem works. It offered direct exposure to startup thinking and a community that openly shares business insights. What stood out was how easy it was to connect, learn, and grow through real conversations. As we built our IT hardware rentals business, eChai helped us find our niche and refine our path. Proud and grateful to be part of this amazing community."
Heet Sheth
Growth and Tech, Sheth Info
“When we launched LegalWiz.in back in 2016, concept of procuring legal and compliance services through a digital commerce platform wasn't as prominent in India. eChai played a significant role in providing the early adopters, and building significant positioning in the startup fraternity. Overtime, eChai grew to be a massive network of like-minded entrepreneurs and extended that benefit to all the members in a true "co-rise" spirit. I personally love to attend eChai events, learn from subject matter experts who share relatable and actionable insights and experiences. For startup journeys, it is so important to be surrounded by people who can add relevance, perspective, and push you to do better. Most importantly a group of people where you aren't being judged about things going right or wrong, but be a motivational force that keeps you going, yet keeping you in check. eChai is that place for me!”
Shrijay Sheth
Founder at LegalWiz.in and Hire4Higher Consulting
"I have evolved from role of Community Builder to Startup Consultant to Startup Ecosystem Enabler to Angel Investor and now launching a Venture Studio and eChai has been a catalyst in my overall journey as Startup Evangelist since 13 years."
Mehul Shah
Co-Founder at Counselvise & Ivy Growth
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.
