Rama: Bitfusion raised approximately $1.5M in April 2015
Subbu Rama · Shocked Subbu Wouldn't Accept my $10M Offer after Raising $1M This Year, EP 282: Subbu Rama · Jun 13, 2016 · at 7:29
Subbu Rama is the co-founder and CEO of Bitfusion. In this interview with Nathan Latka, he discusses the details of the company's post-Techstars seed round.
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“We raised about 1.5 million dollars, you know we actually raised last year around, you know, end of April is when we raised.”
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More from Subbu Rama
Rama: Bitfusion could match VMware's scale if executed correctly
“We think this could be as big as VMware, if we executed right in the next few years.”
Rama: Equal co-founder equity splits prevent long-term resentment
“No, we actually did that actually, because, you know, if you think about it, right, that, I think that's the right way to do it. The reason is, ah, you don't want one person to feel that, you know, ah, that person's putting more work, but like getting less equ…”
Rama: Bitfusion co-founders skipped vesting schedules before raising capital
“Actually, in fact, when we initially signed the founders' agreement before we raised equity, ah, we didn't have an investing schedule.”
Rama: Hardware and infrastructure engineers generally earn $250K annually
“Everybody in our industry basically, you know, generally makes about close to a quarter million dollars a year.”
Rama: Bitfusion raised its seed round using free YC SAFE templates
“We just went online, downloaded what Paul Graham had, printed it, didn't, you know, didn't have to spend any big money on lawyers.”
Rama: Bitfusion secured Shell and five other customers within three months
“Since we've released our product in just, like, you know, ah, three months, we basically have about half a dozen customers. Ah, customers range from, you know, ah, cloud service providers, ah, all the way up to, like, oil and gas companies like Shell.”