Remove Liquidation Preference Remove Operations Remove Seed Capital
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The Seeds Have Changed: An Epilogue to The New Venture Landscape

K9 Ventures

So while the infrastructure cost and startup costs may have declined, the operating costs have increased. Together this means that Seed stage companies need to run longer and at a higher expense structure, meaning they need to raise a lot more capital. A re-jiggering of deal stages and sizes had begun in 2013.

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Startup Fairy Tales and Other Tall Tales That Venture Capitalists Tell

Growthink Blog

With this seed capital – more often than not totaling between $100,000 and $1,000,000 - the company accomplishes a number of key technical milestones, gets a beta customer or two, and then goes on a "road show" to venture capitalists around the country for capital to “scale” the business.