Apoorva Mankad

So almost kind of done.

$200,000 is what we raised in 2016 is what I told you.

And we are about to raise this year, 2022, around $1.2 million.

In equity.

We also use somewhat of working capital if we call it debt.

So we use bank lines to fund a gap between what customers pay us and what we need to pay our salaries in time.

So there is always a trade gap as we call it and that's funded typically through working capital funding as we call it or bank funding as we call it.

So we leverage our equity and our balance sheet to get some capital from banks too.

use it on a temporary basis.

Our valuation at that point of time was around a million at that point of time, million dollars.

So we have finalized this at around 30 CR.

That's around $4 million.

$4 million is post-money.

you can say that your website will be calculated correctly.

Well, one of the reasons is that our focus market has been India and we are a company focused on SaaS revenue.

And as you just saw the numbers, the Indian numbers are not very large if you count in dollar terms.

So obviously, if you are selling into a rupee market, the valuations become lower.

Then you are selling this in the US market, for example, where obviously a dollar will fetch you much more.

That's one reason.

Secondly, this funds that we are raising is much more from a strategic partner right now, who also happens to be one of our customers.