Start Insights: Simplifying Fundraising for Founders, from Pitch Decks to Funding

In the world of startups, the pitch document plays a pivotal role, akin to an individual's resume, serving as a critical document for venture capitalists to grasp a company's essence before they open their purse strings. Crafting an intriguing pitch deck can be undertaken by anyone, but only the captivating ones capture the attention of investors. This is particularly crucial for early-stage startups as they embark on their fundraising journey.

Addressing this challenge is Start Insights, a Salem, Tamil Nadu-based venture founded in 2021 by Premananth S and Sowmiya Chandrasekaran. This Software-as-a-Service (SaaS) platform collaborates with early-stage startup founders throughout the process of identifying, approaching, and pitching to potential investors. Additionally, their Pitch Craft service empowers founders to create compelling pitch decks.

Beyond this, Start Insights guides founders through various critical steps, including market analysis, financial projections, and comprehensive end-to-end documentation. Premananth emphasizes, "Raising funds and establishing a robust foundation for their businesses can be a daunting task for founders. We provide the necessary expertise to streamline this process for early-stage entrepreneurs."

In just one year since its inception, Start Insights has successfully delivered over 40 pitch decks, aiding six startups in securing pre-seed and seed funding rounds amounting to $1.2 million. To date, the company has engaged with more than 50 clients, with an additional 10-20 clients in the pipeline. Among its notable success stories is Cookr.in, a Chennai-based food marketplace that secured $1 million in a pre-seed round through Start Insights' Pitch Craft service.

Start Insights charges fees for its services and operates on a 90-day cohort model, though specific numbers were not disclosed. The company also generates revenue from its suite of products, including Pitch Craft, Pitch Do, and Start X. Their cohort service spans 90 days and provides early-stage startups with mentorship, networking opportunities, and personalized guidance throughout their journey, from idea validation to fundraising.

The Genesis of Start Insights:

Premananth, hailing from Salem, a Tier II city in Tamil Nadu, faced limitations in terms of exposure and growth opportunities. He was actively involved with the Google Developers Community and Microsoft for Students Community, gaining his initial exposure to the startup world through Geo Geo-Informatics, a NASSCOM-incubated startup. After working for this startup for a year and a half, he embarked on launching two of his own ventures, both of which he ultimately had to close due to unfavorable timing and difficulties in securing funding.

Throughout this journey, Premananth remained engaged in supporting Tamil Nadu's startup community by organizing events. His interactions with startup founders during these events, coupled with the lessons learned from his own entrepreneurial endeavors, inspired him to create a solution that addresses founders' pain points, particularly the challenges associated with pitching to investors and raising funds.

Products and Services:

India boasts over 88,000 registered startups according to the Department for Promotion of Industry and Internal Trade (DPIIT), but only a mere 10% are eligible for funding, underscoring the stringent criteria for securing financial backing. Many startups, lacking expertise in fundraising, may struggle to secure the necessary capital for business growth.

When a startup engages with Start Insights, their primary objective is typically to utilize the Pitch Craft service. To create the pitch deck, the company assists startups in conducting market research, crafting and designing a compelling pitch deck, and formulating financial projections. Subsequently, Start Insights provides guidance on fundraising, including valuation quoting, equity dilution, and more.

Start Insights has two additional products currently in development: Pitch Do, an automated tool for pitch deck creation, and Start X, an 18-week Impulsive Scale-Up Programme. In the competitive landscape, Start Insights faces competition from Marquee Equity and Slidebean.

Regarding the impact of Start Insights on helping startups secure funding, Premananth notes, "We have seen a significant increase in inquiries from established angel investors, aspiring angel investors, family offices, and venture capital firms due to our extensive network and successful track record." The company is actively working on establishing partnerships with new investors to enhance funding opportunities for its clients.

Market and Future Plans:

The Indian SaaS industry is projected to reach an annual recurring revenue of approximately $35 billion by 2027, up from $13 billion in 2022, according to Bain & Co. In January 2023, Start Insights secured Rs 52 lakh in a pre-seed funding round led by angel investors with backgrounds in Ex-Microsoft, Ex-GE Digital, and other notable companies.

Looking ahead, Start Insights has two major objectives. First, the company aims to make angel investments more accessible and facilitate a fully digitalized process through its SaaS platform. Second, it plans to establish a more comprehensive end-to-end platform for startups, in addition to its existing 90-day cohort program. This platform would guide founders from ideation through securing venture capital funding.

Premananth underscores the importance of choosing investors with domain expertise, as they can significantly impact a startup's scalability. He adds, "With substantial experience and a deep understanding of the investment thesis of over 20 angel investors and more than five venture capitalists, we possess the knowledge and expertise needed to assist founders in identifying the right investor who can catalyze their startup's growth."

In conclusion, Start Insights is playing a crucial role in assisting early-stage startups in navigating the challenging landscape of fundraising, providing them with valuable insights and resources to secure the capital they need to thrive and succeed.