Sramana Mitra: Sometimes when you’re in a fundraising cycle, you may not be quite ready for the investor to write the check, but you build the relationships and show traction. At some point, it will converge potentially if you know what your target is. Pawel is explaining that the target is $50,000 MRR. If you
Sramana Mitra: How many nursing homes are using the product? Deepak Gaddipati: We did a lot of trade shows. In 2018, we got connected with Ziegler, which is an investment banker that does underwriting for hospitals and nursing homes. Whenever you want to build a new nursing home or a new hospital, they put out
Entrepreneurs are invited to the 587th FREE online 1Mby1M Mentoring Roundtable on Thursday, August 25, 2022, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others
Pawel Maj: We would like to have about 10 to 15 companies in our portfolio at any given moment. We like to get hands-on since our history comes from the private equity market. For pre-seed or seed, we invest smaller tickets but much in larger number of projects to spread the risk. In our case,
Sramana Mitra: When you raised angel financing, did you already have these nursing homes working with you on the pilot? Deepak Gaddipati: No. First, we developed the product. We looked for the biggest physical therapy conference. There was one conference in Vegas within three days. They had a booth open, so we bought it. We
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. In 2018, GreenPal CEO Gene Caballero shared a fantastic story of a founder duo bootstrapping with a paycheck, growing from $5M to $15M in one year, with a virtual team of freelancers. Your classic 21st century internet business. No outside financing whatsoever! Sramana Mitra: Let’s start
Pawel Maj, Investment Director, Warsaw Equity Group, discusses post-seed and pre-series A funding in Eastern and Central Europe in the context of his firm’s investment thesis. Sramana Mitra: Tell us about what’s up in Poland. You are in a semi-warzone. What’s happening with the startup ecosystem? Pawel Maj: The war is in another country, but
Sramana Mitra: What year are we in now? Deepak Gaddipati: 2012. In 2013, we licensed some of the technologies we developed and started Virtusense. The single objective when I started was to prevent falls. I was very passionate about it. I really wanted to figure out a solution. We didn’t have a solution, but we