While we focus a lot more on lean startups than startups that require capital to get going these days, fat startups still play an important role in developing large-scale success stories with significant, defensible, competitive advantages.
The bulk of the VC industry has moved away from the ‘fat startup’ category. Investors expect that you will have your product launched, customer acquisition model fleshed out fully, and a team in place before Series A.
However, infrastructure software, hardware, networking, chips – they all need capital. Even in cloud software, to build complex technology like personalization, analytics and artificial intelligence requires some serious investment.
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