Pre-seed
The first outside money, usually raised on an idea, a prototype and a team rather than real traction.
Typically friends, angels and pre-seed funds writing small cheques to get you to a product and first customers.
Hear it from people who've done it
Get the real-world version of "Pre-seed" drawn from hundreds of conversations with founders and investors.
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Seed
The round that funds the search for product-market fit — first hires, first revenue, first signs the thing works.
Angel investor
An individual investing their own money into early startups, often ex-founders or operators.
SAFE
A simple instrument that converts into shares at your next priced round, usually with a cap and/or discount.
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