A startup has reasonable revenues, but it is not enough to run the business. It needs at least US$3M, but is struggling to raise it. What’d be your advice for them?

I have a friend whose B2C startup raised its first round of funding a couple of years ago. The company has been doing fairly well and generating revenues. Now in its fourth year, it badly needs at least US$3 million to run the shop, pay salaries, and take the business to the next level.

The friend has been running from pillar to post seeking follow-on funding, but has not been successful so far, and has lost the hope. He has no idea what to do next.

If you were in a similar situation, what would you do?

Please share your views in the comments section below:

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The post [Discussion] Running out of cash and struggling to raise follow-on funding; What should a startup do next? appeared first on e27.