22Dec / 2016
LetsIgnite is a unique opportunity for both early and growth-stage startups to raise funds, connect with VCs, find lead investors, partner with corporates and increase their brand visibility in the ecosystem. This March 2017, 300+ Angels, 25+ VCs and 20+ Lead Investors will meet and network at LetsIgnite. Last year 50% of the finalists successfully raised funding on LetsVenture after LetsIgnite.
We got in touch with a few finalists to see how their startups were faring:
Q. How did LetsIgnite impact Truckola’s Fundraise?
A. I attended LetsIgnite 2016 as a finalist. I have to say that LetsIgnite is perhaps the most productive of any conference that you could attend. What makes LetsIgnite great is that it is very clear on its objective. It is primarily an investor focused conference which really teaches Angel investors hands on the art and science of investing - something that is completely missing from the startup eco-system anywhere else but also crucial for the growth of the community. If you are lucky enough to be selected as one of the startups pitching for an investment (like we were), LetsVenture is by far THE most amazing platform for you to raise money from. All in all, I think LetsIgnite is one of the landmark conferences for the Indian startup community in terms of value for money and time spent.
Q1. How did LetsIgnite help you close your fund-raise?
A. When we joined the platform we already had a marquee investor leading our round and we were looking forward to syndicating on the LetsVenture platform. Around that time, we learned about LetsIgnite and felt that it could be an excellent opportunity to pitch at the event. That turned out to be a great idea and after becoming a finalist and pitching at the event our round closed pretty fast on the platform post LetsIgnite. I think what really stands out at LetsIgnite is getting a chance to pitch with your Lead Investor. It adds a lot of weight to the pitch.
Q2. Did you benefit from the event apart from the fund-raise?
A. We had some value angels join our round who’ve have been closely associated with us since the fund-raise. Some of these are industry experts in logistics and helped us greatly in building vendor connects; that opened up access to necessary business associations that our venture needed. There were also a couple of great panel discussions for the founders. For instance, it gave us a good deal of perspective in the angel investing space. A session from SIDBI for businesses was especially informative since we are operating in the rural space.
Q. How’s Ressy doing post the fund-raise?
A. It has been a year since our second fundraise on LetsVenture and we’ve been working very closely with our angel investors to shape our company and help it grow. Investors from both rounds have helped us a lot, for example our current customer acquisition strategy was suggested by one of our angel investors from the previous round and it’s been doing great for us.
Q. How has LetsIgnite been instrumental in closing your fund-raise?
A. Exposure: Being a LetsIgnite finalist helped us create an excellent brand image which then helped us accelerate our fund-raise in a big way. Also raising money on LetsVenture means you raise smart money and it also gives you the option to choose your own lead and investors. Great example, at LetsIgnite ‘15 we met Vikram Chachra who hopped on board as a lead investor after a single meeting with us.
Q. Apart from the fund-raise, what other good things came your way, being one of the LetsIgnite finalists for both 2015 and 2016?
A. LetsIgnite is a great event to help a young startups build a network, not only angels but other like minded people who are interested in similar ideas. We exchanged insights on where the market is heading and how we can better position our product; someone I met at the event later joined in as a business partner. The mentor and angel interactions at LetsIgnite were extremely valuable in terms of the feedback we received.
LetsIgnite is a ‘startup ecosystem event’ looking to connect startups with great investors and investors with brilliant founders. If you are a startup looking to raise funds, connect with VCs, partner with corporates or find a lead investor make sure you apply now!