🌱 Cryptocurrency financial services firm Acctual secures $3.85M in seed funding round co-led by Third Prime and IDEO to fuel product development, valuing the company at $15M. 💰 #Acctual #SeedFunding

"imgnAI Secures $1.6 Million Seed Funding for AI Image Generation Platform"

Foresight News reports that imgnAI, a crypto-native AI image generation platform, has successfully concluded a $1.6 million seed funding round led by Hack VC. Other contributors include Rana Capital, Selini Capital, West Ham Capital, Motus Capital, and dao5, with the valuation remaining undisclosed. The freshly acquired funds will fuel enhancements to imgnAI's infrastructure, expedite product development, and bolster marketing initiatives. The platform is set to introduce a 'digital companion' product named 'Naifu.'

Launched in late 2022, imgnAI employs crypto tokens for unlocking advanced features and directly minting images as NFTs. The utilization of tokens for these features involves burning, strategically reducing the total supply. #imgnAI #SeedFunding #AIImageGeneration #NFT
$AI $XAI

HOW TO DETERMINE THE AMOUNT OF FUNDING YOUR STARTUP NEEDS

- Let's Make It Easy -

To determine the amount of funding needed for your startup, this formula may be helpful:

___________

Multiply the number of people you want to hire, times $15,000 times 18 (months).

EXAMPLE Let's say you need to employ 10 persons:

5 x $15000 x 18 = $2,700,000 

This means that $2.7 million is the amount your startup needs to function for the next 18 months.

___________

I would appreciate it if you could find time to comment on other easy ways to determine the amount of funding a startup needs.

Formula Credit: Paul Graham (CEO of Y Combinator)

#startup #Funding #Ceo #SeedFunding #InvestmentInsight

_______

I recommended that you also go through my post titled:

UNDERSTANDING STARTUP FUNDING STAGES