“It’s looking like the funding market won’t be as great for the next 6 to 12 months because of the macro economy,” said Aditya Bali, co-founder of BufferBox, a service for delivering e-commerce goods to physical kiosks in grocery and convenience stores. “If you’re just going to run through a whole bunch of money over the first couple months, but you haven’t actually figured out how you’re going to make money, we’re seeing less of those companies.”
BufferBox, founded in Waterloo, Ontario, last year, is in talks to raise money from top-tier VC firms, Bali said. He said those talks have been helped by fees the company takes from e-commerce sites.
“We don’t really need your money, because this is what we’re doing,” Bali said of the VCs. “But if we have your money, we can go that much faster.”
“That’s the whole way to get investors excited,” he said.
Sounds like I missed another impressive Demo Day. This is my jealous-face.