If there is no revenue then you can also take a top-down approach by looking at the number of potential customers in your market you expect to capture. Then bas

If there is no revenue then you can also take a top-down approach by looking at the number of potential customers in your market you expect to capture. Then base the valuation off of that expected future revenue scenario. VC funding just helps you get to that future destination, ultimately giving your investors their 10x return.