Taran: "I was graduating from law school and working in family law when we started the company. Prior to that Bunny and I actually had a cake decorating company together. Early on, we had a ton of obstacles for which we weren't necessarily prepared. We lacked a network, knowledge, and experience. Most investors are male, and our company sells self care and period products, which is a problem that is inherently female. A lot of male investors passed because of this. Others would say that they would "ask their wife" what she thought and then get back to us.
We overcame some of these obstacles by painting a clearer picture of why Blume's mission was so important. We brought products to meetings to demonstrate why organic cotton was better than mainstream options. We also struck a chord with many investors who had young daughters and thus really cared about what were building. We found great mentors which also helped us in our fund raise, since network and introductions is really important."
Most investors are male, and obviously our company is solving a problem that is inherently female.
Bunny: "Our first check was from an angel investor in Vancouver, and our second check was from 500 Startups, an early-stage venture capital company. After 500 Startups, we raised from angel investors that believed in what we were doing through an AngelList Syndicate, which is an investment through a small fund created on Angel List. We discovered early on that what worked for us was to raise from angel investors rather than VCs. The biggest learning curve for us was that raising money is network based. We learned that we can't be afraid to ask for warm introductions, because they make all the difference."
— Bunny Ghatrora (left) and Taran Ghatrora (right), founders of Blume
Image Source: Courtesy Bloom