VCs rejected Artiphon, demanding hardware profitability before funding it as software.
Dr. Mike Butera · Radio One: Cathy Hughes (2017) · Aug 14, 2017 · at 34:35
Dr. Mike Butera, founder and CEO of musical tech company Artiphon, recounts the fundraising feedback he received when pitching venture capital firms across the United States.
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“We talked with a lot of VCs around the country. And they say, hardware's not quite as hot as it used to be. We're more into software now. Figure that out. Get profitable as a hardware startup. Then we'd be interested in helping you scale as a software startup.”
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