Mar 24, 2014

What formula did Teabox founder use to get Funded?

What formula did Teabox founder use to get Funded?

Teabox an online premium tea leaf seller recently announced that it has raised around $1million funding from Accel Partners and Horizen Ventures. But Kaushal the founder of TEABOX from Siliguri, India had used all possible methods to convince VCs to get Funded.

What were the paths he choose to connect with Venture Capitalists? What worked and what didn't?

First Attempt: Kaushal spent many days cold calling investors.
Outcome: This method didn't yield any results

Second Attempt: Met VCs and Angels at few startup events, followed up with more calls and emails.
Outcome: Not many Investors showed interest in the venture.

Third Attempt: Kaushal flew to Delhi, Mumbai, Bangalore and Hyderabad where he setup meeting with some angel investors and VC funds to showcase Teabox.
Outcome: Few angels and VCs showed interest and gave him an opportunity to pitch Teabox.

Lesson To Learn from Kaushal's experience:
Be part of the eco-system if you want to be the winner.
In-person and face-to-face interactions will work better than emails and phone calls.

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Tags:, Kaushal Dugar, esparks 2014, Accel partners, Siliguri, premium tea startup india, ecommerce, 


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