You might be wondering how much time does it take for a startup to get funding. Indeed, the funding will enable you to accelerate the pace of your growth and achieve the next level. At the same time, it may bring solutions to a lot of problems you might be tackling at the present.
A startup needs venture capital (VC) which is money provided by the private investor or other financial institutions such as banks. Akshay Bhushan highlights the time taken for a startup to get funded. As a founder who has been through the process of acquiring VC, he knows the process well. Based on his experience and experience of other founders, it takes three months to acquire VC.
Getting funding for your startup may require patience and resilience until you succeed. The speaker advises the startup founders to talk to as many investors as possible. It only makes sense because putting all your eggs in one basket is never a good idea. Therefore, approaching various investors also works in your favour. In business, you need to work with people whose vision aligns with yours and your company’s. If you meet an investor with a different vision, you can decline the offer. This will allow the opportunity to find someone suitable for your brand. Time is taken for a startup to get funded may be long but it is worth the wait and hassle.
Akshay Bhushan is a partner at Lightspeed India. In addition, he’s an investor and member on the advisory board of multiple companies. With his experience, he has seen both ends of the funding proposals. Lightspeed India is a company that invests in tech startups in the early stages and growth stage.
For more videos like this one see our Startup 101 Series.