## Seed The first fundraising a startup does is called a "seed round". Depending on the round you're trying to achieve, the rules differs. Notes about the seed round : - From 300k€ to 1.5m€ - Mostly from business angels (BA) and seed round venture capitalists ([VC](VC%20lists.md)) - Startups with a working Proof of Concept (PoC) - Mostly about the team, the vision and the product - Great KPIs are (not exhaustive, depending on your field) : - From 10k€ VAT excluded monthly recurring revenue (MRR) - A traction proof like 10k users for free B2C apps - First big account for B2B apps - Working prototype and crowdfunding or 1k user waiting list for hardware products - 20% Month over Month growth (MoM growth) on your main KPI - Mean dilution about 25% (from 20% to 30%) - From 1m€ to 2.5m€ pre money valuation