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Which means it's harder to get to your milestones before your next round.
Many of these funds are earmarked specifically for clinical trials or prototyping and product development, and can provide critical funding to build significant traction and hit major technology and product milestones before seeking the next round of VC money.
A curious gap has emerged in the early-stage investment landscape: While emerging startups are able to raise very small, sub-$500,000 rounds, seed and pre-A investors are requiring increasingly higher revenue and market traction milestones before they deploy capital to companies.
For companies that don't need to raise additional capital now, they can focus on building a sustainable business, in many cases by doggedly improving the productivity and efficiency of the model and lowering cash burn so they have enough runway to hit big milestones before raising again.
Triton met several key milestones before her commissioning.
I struggle with resentment when other babies reach milestones before he does.
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And in the BDO event last night, Dutchman Wesley Harms almost hit a similar milestone before narrowly bowing out in the semi-finals to Tony O'Shea, a classic representative of old England.
(Publishers, including Stuff Media, have previously hit that number across all their titles — but if any individual podcast reached that milestone before, they've kept quiet about it).
When LL Cool J filmed his 1997 commercial for the Gap, it was a milestone: never before had a rapper been called on to endorse as mainstream an apparel company.
This year the Corvette turns 50, and many of its fans have reached that milestone before it.
The next step, a vote by the 40-member Metro Council, is expected in January, the last significant milestone before ground can be broken.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com