Thank you for your comment. This makes a lot of sense and supports what I've seen. How useful are market comparables? In particular, for pre-series A with at l

Thank you for your comment. This makes a lot of sense and supports what I've seen. How useful are market comparables? In particular, for pre-series A with at least 1 financing (grant/pre-seed/seed) round. Generally, it seems this cohort is still working out 1,2 and 3, and have little to no 4 or 5. My guess is that your method results in a valuation close to a reasonably weighted market comparable.