Raccoon.care spent 60% of its $1.5M funding on medical certifications
Svetlana Malinova · Her Devs work out of Bomb Shelters in Ukraine, $150k in Revenue for Employee Care SaaS · Jan 26, 2023 · at 7:32
Svetlana Malinova, founder of Raccoon.care, explains how the startup financed its operations and product development during its pre-revenue phase from 2018 to 2022.
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“We, like, in total we raised 1.5 million dollars, where, like, around 60% we spent on medical certification, evidence, we also had, like, devices, so also on manufacturing those devices, and if we are talking about how we get those money, it was our own money, so from my like, legal business in Ukraine we raise investments, and also we got, like, fund grants for medical, actually.”
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Two VCs canceled Raccoon.care investment contracts in February 2022 due to war
“To get like some extra medical certification, but to like VCs, they just like consult our contracts in February because the war starts.”
Malinova: Raccoon.care's Ukrainian back office sometimes works from bomb shelters
“I'm in New York, and our back office is in Ukraine, but they are working, sometimes out of bomb shelters, but they are safe, I hope.”
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