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If they raised $25 million while valued at $200 million, and earlier raised $10 million, presumably at a much lower valuation... That doesn't leave the company

If they raised $25 million while valued at $200 million, and earlier raised $10 million, presumably at a much lower valuation... That doesn't leave the company a huge amount of equity and control, does it?

adient 15y ago
It was $10 million based on $40 million valuation. Combined with the latest investment, it seems a majority percentage of equity would still belong to the founders. Well past successful at a $200 million valuation, for sure.