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Interesting startup by the way, did you guys get funding? How hard was it with a hardware startup? http://www.radfan.com/ http://www.radfan.com/ for those inte
by mattmanser 13y ago
Interesting startup by the way, did you guys get funding? How hard was it with a hardware startup?
http://www.radfan.com/ http://www.radfan.com/ for those interested.
- simonbarker87 13y agoThanks - yes we've had a couple of rounds of funding. VC mainly and DECC as well. First £35K was through competition wins and business link (before that disappeared). It was very difficult to garner interest from investors pre-revenue. The hardest thing for a hardware start up is explaining the enormous working capital requirement that exists thanks to payment terms and delivery times. We launched the product and first 1,000 units on about £150k (not all in one go) over 2.5 years including tooling etc. It's getting easier now as we can start to sell the vision but people are still terrified of hardware.