Started a connected health startup … bootstrapped all the way to a completely technology ready medical device. Business and value props too … Heck did a study to show users were successful with our product. And still not a stinking penny from an investor.
4 answers from the community
How many investors have you pitched to? My stat is I pitched to 100 people and got 100 No's before scooping my first $1mm. Until you hit 100 No's I would keep pitching! Ps. The last $15mm I raised the hit rate was closing 25% of pitches, so it gets better as the business developed. First money is hardest to raise IMO.
By the time you can raise money, you won't need it. That's the state of venture capital. Just work on your business and dial back your ambitions to get to profitability.
Agree on this one. When we needed it nobody gave a damn about us. Now 1,5 years later we grow fast and turn VC money down as we simply don't need it.
Oversaturation in the health-tech sector.... We see almost a deal a day in this space. Too many deals chasing too few dollars. You're probably being crowded out by the rest of the noise.