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Pitch Deck Teardown: Astek Diagnostics’s $2M seed deck
Astek Diagnostics closed a $2 million round for its urine diagnostics system, despite the fact that raising money for medtech isn't for the faint of
That’s a red flag: It’s crucial to have a firm set of goals, ensuring that the company has a clear route to hitting its milestones and being able to raise its next round. The final red flag here is that the company is trying to pre-negotiate the deal: I appreciate that the founders have an opinion on what they think the cap and discount are, but they don’t get to set those; the lead investor does. It’s possible, of course, that this deck was updated after the company already had a term-sheet in hand, but if that isn’t the case, this slide doesn’t come across as founders who are experienced in the fundraising process.
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