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Last week, we announced our €3,000,000 fundraising
Despite a challenging bear market, we made it through
As the CEO of @Bubblemaps, this has been an incredible learning experience. Here's what I've discovered 👇
1. Seize every pitching opportunity
Our win against 700 startups at @ParisBlockWeek was a game-changer. Be it smaller events, a school conference, a panel about on-chain data, or anything else, I never turned down an invitation. You never know who's listening!
2. Cold contact is time-wasting
VC public emails are overloaded. The two options that work: contact a fund analyst and climb up the ladder, or get referred by an entrepreneur/investor.
3. Even better, make VCs come to you
To be on their radar, be active in your ecosystem. With Bubblemaps, we joined Google Cloud’s incubator, @PyratzLabs, @cronosapp, HEC x L’Oréal... Lots of chances to be noticed. Plus, we attended every crypto event possible.
4. Revenue isn’t the only indicator of traction
Web traffic, social media reach, and partnerships are also convincing indicators for investors. Just because you're not profitable now doesn't mean you won't be.
5. Crypto is an attention economy
Building a loyal community can be even more important than your product. Genuinely provide value to your readers through unique content and compelling insights. Our analysis on a16z and Uniswap became viral on Twitter and significantly helped our roadshow.
6. Think financially when facing a VC
The investor is seeking return on their investment. Sell your vision, and learn how to speak their language: valuation, revenue projection, exit strategy... Remember, you only have one chance to convince them!
7. Keep the momentum
A fundraising can last for six months or even a year. It’s crucial to keep the initial investors interested all through the process. Update them regularly and keep them excited.
8. Winning investors is half the battle
What follows is the delicate phase of negotiating the shareholders’ agreement, signing, and transferring the funds. That's when you're going to lose sleep
9. Raising funds is a choice, not a must
For us, it was a nearly year-long roadshow. That's a lot of time and resources not going into the product and business. Quick profitability without fundraising is also a solid option!
It's extremely hard to raise funds at the moment, but the payoff is worth it. Good luck to everyone looking to climb this mountain!

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