Founder's Playbook
This playbook distils data from thousands of Indian startup deals to set benchmarks that help answer questions around fundraising that often stump founders. Questions like- when to raise, how much, at what price, and more. Alongside the numbers, we also cover the subjective calls - context, trade-offs, and founder-focused advice. All of this to help you make better decisions.
- Who this is for: Early-stage Indian startups (Pre-Seed →Series A)
- What this is not: Legal advice or a one-size-fits-all formula
- Data window: Benchmarks from mid of 2022 to 2025

The founder’s playbook is a thoughtfully designed quick-reference guide that helps founders think through the many ‘what if’ decisions and trade-offs that arise during fundraising. It brings clarity to moments that are often driven by pressure or FOMO, and enables founders to make more deliberate, well-informed choices at every stage of the journey. I’d confidently recommend this to any founder navigating their fundraising journey.
~ A note to readers from Sanskriti, co-founder of Thinkerbell Labs, a Bengaluru based funded assistive-tech startup






Table of Contents:
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When should you start planning to raise capital?
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How much should you raise in each round?
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How much stakes should you retain over multiple rounds?
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Who should you approach for funding?
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How should you prepare for a fundraise?
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How much ESOPs are enough?
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How should you manage surplus funds?
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When should your startup break-even?
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Lessons from Case Studies
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Startup Indian's Role
