Sramana Mitra: How much did you raise in the second round? Jonny Grubin: Probably about £300,000. In total, we raised about £900,000. Sramana Mitra: Excellent. I love capital-efficient businesses.
Sramana Mitra: 2014 and 2015, more of the same? Jonny Grubin: Our focus and what I had built this business around was gifting samples to a friend. We were doing well with that. There was nobody else in the space. Brands loved it. We were on a pretty exciting trajectory. We had a lot of
In case you missed it, you can listen to the recording here: 562nd 1Mby1M Roundtable with Naganand Doraswamy, Ideaspring Capital
Entrepreneurs are invited to the 563rd FREE online 1Mby1M Mentoring Roundtable on Thursday, February 10, 2022, at 8 a.m. PST/11 a.m. EST/5 p.m. CET/9:30 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
During this week’s roundtable, we had as our guest Naganand Doraswamy, Managing Partner and Founder at Ideaspring Capital. Naganand added to our thesis on great investment opportunities within the sub $100 million exit space. Tonic Audio As for our entrepreneur pitch, we had Eithan Clift from Reno, Nevada, pitching Tonic Audio, a platform for musicians
Sramana Mitra: How much did Avon pay you? Jonny Grubin: They paid me £1,000 which seemed like a huge amount of money at that time. It was about validating it all. We were still very much bootstrapped. I didn’t want to be greedy. I need to charge them something. A thousand pounds seemed like a
Sramana Mitra: How much money did your friend put in? Jonny Grubin: He put in £45,000, which for me felt like a huge amount of money. Sramana Mitra: What exactly where you able to prove in that MVP? I’m so used to constantly working with people’s pitches. As you were speaking, one thing that struck