Climactic launches hybrid fund to get startups through the ‘valley of death’
It’s a challenge every startup faces: they’ve made a prototype and proven the thing works, but now have to sell the product and produce enough to get past the “valley of death” that kills so many companies. “They are chicken and egg stuck,” Josh Felser, co-founder and managing partner of early-stage venture firm Climactic, told TechCrunch. The hurdle is particularly high for companies making physical goods. Felser noticed it was a common occurrence among startups producing novel materials. Fesler, who previously founded and invested in software startups, said the problem they faced seemed a bit unfair. “Software companies sell at a negative margin all the time in the beginning, you know, Uber, Lyft, you can look at lots of different examples,” he said. “But…
