Justin Wareen of eigenmagic comments:
The very first round, generally called a seed round, is designed to get the company off the ground. There’s an idea, maybe a very brief prototype, that’s been developed by the founders of the company using their own money, or maybe money from family and friends (anecdotally called the Family, Friends and Fools round). Seed money may also be invested by an Angel Investor, so-called because, like an angel, all they want to do is help. Yeah, right.
If you’ve ever wondered about funding for startups in the tech industry, this primer from Justin Warren is excellent. Covers it all from A to Z.
Read more at: Tech Companies with an OPiuM Problem, Part 2