As someone who leads a life science tech company and has participated in all fund raising rounds since our pre-seed, let me say: the market right now for life science/tech cos is so hot, a 2.5M pre-money valuation for your idea is likely low.
Also, in science there are federal grants, such as SBIR, which can be for even more (1M), are non-dilutive, and are very gettable.
So this would really be a fall back if you couldn't raise a better round nor get an SBIR...and if those are both the case, it might not be much of a company.
Also, in science there are federal grants, such as SBIR, which can be for even more (1M), are non-dilutive, and are very gettable.
So this would really be a fall back if you couldn't raise a better round nor get an SBIR...and if those are both the case, it might not be much of a company.