Unstacked is the voice of Moonshotnx — a living stream of insight, updates, and conversations from the frontlines of venture redesign. It’s where our blog, newsfeed, and podcast converge to fuel founders with capital stack strategies, global funding intel, and storytelling. Built for the bold, updated for the now.
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Q1 2025 Startup Funding Breakdown: What Founders Need to Know Before Raising Capital
From AI megadeals to early-stage pullbacks, how the current investment climate is reshaping the path to funding
It’s Q1 2025, and the world of startup funding is moving fast — but not always in the direction founders expect.
While global funding numbers are up, the story beneath the surface is far more nuanced. Investors are leaning into late-stage, post-traction bets. AI is soaking up a disproportionate share of capital. And early-stage founders — especially those building in frontier markets or outside the hype cycles — are finding it harder than ever to close a clean round.
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How Startups Can Access Funding in 2025 Without Giving Up Equity
How Startups Can Access Funding in 2025 Without Giving Up Equity
Startup funding has always been a puzzle — especially if you’re a founder trying to build without losing control. Between pitching VCs, applying for government grants, and navigating accelerators, the landscape feels cluttered and confusing.
But in 2025, smarter capital models are emerging — and with the right tools, you can raise funding faster, keep your equity, and scale globally.
Here’s how.
1. What Is Startup Funding, Really?
At its core, startup funding is capital raised to build, launch, or grow a business. That can include:
Seed funding: The earliest round, often from angels or accelerators
Series A/B/C funding: Institutional rounds from venture capital firms
Startup grants: Non-dilutive capital from governments or private initiatives
Convertible notes or SAFE notes: Hybrid structures that convert to equity later
In 2025, a growing number of founders are also exploring non-dilutive funding options — where you keep full ownership of your business.
2. How to Secure Non-Dilutive Startup Funding
Let’s talk non-dilutive funding — capital that doesn’t require giving away equity.
This includes:
Government startup grants
Philanthropic funds
Capital stack models like the STACK Note
Revenue-based financing
At Moonshotnx, every accepted founder receives a $50,000 non-dilutive grant, plus access to our investor syndicate via a STACK Note.
3. Know Your Startup Funding Options in 2025
Here are the top startup funding keywords every founder should understand (and use in your pitch decks):
Keyword
Why It Matters
Startup funding
The broadest, highest-volume term
Non-dilutive funding
The future of founder-first capital
Startup grants
Free money, no equity
Seed funding
Your very first external raise
Venture capital
Still powerful, but founders want more flexibility
Convertible note
A traditional instrument — but not always ideal
SAFE note
Common in accelerators like YC
Capital stack
New frameworks like STACK Notes are gaining traction
Equity-free funding
Search demand is surging
Startup accelerator
Still a major source of access, network, and capital
4. Fundraising Has Changed — So Should You
Old-school VC playbooks are fading. In their place? A modern capital stack designed for flexibility, speed, and founder retention.
MoonshotNX is proud to lead this shift with:
$50K equity-free grants
The STACK Note (a smarter alternative to SAFEs)
Access to 70,000+ global investors via our Maxnx syndicate
Revenue-based credit matching with over 497 funding partners
5. How Founders Use Our Funding to Win
Whether you’re building a B2B SaaS platform in Kenya, a marketplace in Berlin, or a climate-tech tool in India — funding shouldn’t be your biggest hurdle.
Our founders use their MoonshotNX capital to:
Hire talent
Launch MVPs
Run paid experiments
Close follow-on VC funding rounds
Stay in control while scaling with intention
Ready to Build on Better Terms?
If you’re tired of predatory cap tables, slow yeses, and diluted control — you’re not alone.
2025 is the year of founder-first capital. And with the right stack, you don’t have to choose between funding and freedom.
Top 10 Startup Funding Keywords for 2025
1. Startup funding
2. Non-dilutive funding
3. Startup grants
4. Seed funding
5. Venture capital
6. Convertible note
7. SAFE note
8. Capital stack
9. Equity-free funding
10. Startup accelerator
Use them wisely — and build on your own terms.
What Investors Really Want in a Pitch Deck
If you want funding, your pitch deck must speak investor. From market sizing to traction to your capital stack strategy, here’s what turns a “maybe” into a “yes.”
Your pitch deck is your first impression—and sometimes your only shot. But most decks fall flat because they miss what investors truly care about. In this guide, we share exactly what to include, how to design it, and how to align it with the MoonshotNX capital stack.
Slide by Slide: The Perfect Pitch Deck
Problem & Solution
Market Opportunity
Business Model
Traction & Metrics
The Ask & Capital Stack Strategy
The Stack Slide (Most Founders Miss This)
Investors want to know how their capital fits in. Show:
How much you raised from grants
How STACK Notes protect their downside
What your funding timeline looks like
Design Tips That Win Meetings
Clear fonts and visuals
Avoid clutter
Tell a story in 10 slides max
Internal Links:
Access our 3 Day Free Bootcamp
Learn about STACK Notes
A great pitch deck tells a great story. One that leads investors not just to a yes, but to an aligned relationship. With MoonshotNX, your stack starts on slide one.
The Best Global Startup Grants in 2025
From Dubai to the UK to the U.S., global startup grants are becoming more accessible. Here’s a list of the best 2025 grant programs—starting with the $50K non-dilutive MoonshotNX grant.
Looking for the best startup grants in 2025? You're not alone. Founders everywhere are seeking non-dilutive capital. Here’s our curated list of the top grant opportunities this year—starting with MoonshotNX's $50K grant program.
Why Grants Are on the Rise
Venture funding is harder to access. Equity is more expensive. Smart founders are turning to grants as the best first capital.
Top Global Grant Programs in 2025
MoonshotNX Grant: $50K, non-dilutive, global reach
Innovate UK: Sector-specific grants for deep tech
Startup Chile: Equity-free funding for LATAM expansion
EU Horizon Grants: Ideal for science-based startups
Singularity University Impact Grants: Tech for good
How to Apply
Each grant has different criteria. At MoonshotNX, we keep it simple:
Submit your deck + vision
Join a founder screening call
Align with our capital stack approach
Internal Links:
Conclusion Startup grants are the smart founder’s secret weapon. And at MoonshotNX, it’s the first tool we offer you. Apply once. Unlock a stack of capital.
How to Raise Money Without Giving Up Equity
Raising capital doesn’t have to mean giving away your company. With non-dilutive grants and structured capital like the STACK Note, founders can fund growth without sacrificing ownership.
Too many founders think the only way to raise capital is to give up equity. At MoonshotNX, we believe you should raise money without giving away your company. Here's how to do it with non-dilutive grants, structured capital, and smarter fundraising strategies.
Why Founders Give Up Equity Too Soon
Most early-stage startups jump at the first check—often on poor terms. That decision haunts them later during Series A or exits. Giving up equity too early limits your options.
What Non-Dilutive Capital Looks Like
Grants: No repayment, no equity. MoonshotNX offers $50K startup grants.
Revenue-based funding: Flexible repayment tied to cash flow.
STACK Notes: A smarter version of SAFE/convertibles that aligns timing and value.
Our Model: Start with the Grant, Build the Stack
We fund founders with an initial $50K grant. Then we help them raise more using STACK Notes that delay equity conversion until real value is proven. This keeps your cap table clean.
Real Example: Keeping Control Through Stacking
One MoonshotNX founder used our stack model to raise $250K without giving up a single share. They maintained full control and negotiated better terms in their later round.
Internal Links:
Learn about Startup Grants
Discover the STACK Note
Ready to fundraise? Apply here
You built something valuable. Don’t give it away too soon. MoonshotNX helps you raise on your terms—starting with grants and growing through smart capital stacking.
Startup Funding UK: What’s Available in 2025
Looking for startup funding in the UK? From government-backed grants to private accelerator capital, this post covers the most founder-friendly options for 2025—including MoonshotNX’s £40K+ non-dilutive grant equivalent.
The UK startup ecosystem is flourishing in 2025, but founders are still asking: where do I get capital without giving up everything? In this guide, we explore all the options for UK startup funding this year, from public grants to next-gen accelerators like MoonshotNX.
The State of UK Startup Funding in 2025
Venture capital is still available, but it's concentrated at later stages. Seed and pre-seed startups are increasingly turning to:
Innovation UK grants
Local government funds (e.g. Scottish Enterprise)
New global grant programs
Capital Stack Accelerators (like MoonshotNX)
Why the Capital Stack Model Works
MoonshotNX allows UK founders to start with a £40K+ equivalent grant and build up to additional STACK Note funding and syndicated capital.
Top UK Funding Options in 2025
UKRI innovation grants
London & Partners tech growth programs
MoonshotNX $50K global startup grants
University of Oxford and Cambridge innovation funds
Who Should Apply
Founders in:
AI and deep tech
Climate innovation
Consumer fintech
Social impact ventures
Internal Links:
Learn about the M1 Fund
Understand the Capital Stack
UK startups have options—but choosing the right capital matters more than ever. MoonshotNX gives you a founder-first runway with flexible, global funding tools. Start with a grant. Scale with a stack.
How Startup Grants Work (And Where to Find Them)
What Is a Startup Grant?
Who Qualifies for a Grant?
How Our $50K Grant Program Works
How to Apply Today
Startup grants are one of the most powerful forms of non-dilutive funding—but many founders don’t know how they work or where to find them. At MoonshotNX, we offer $50K startup grants that don’t require you to give up equity or repay a cent.
Startup grants are an often misunderstood yet incredibly powerful funding tool for early-stage founders. At MoonshotNX, we believe every founder deserves a head start without losing equity. In this guide, we explain how startup grants work, how they differ from traditional capital, and how you can find and qualify for them.
What Is a Startup Grant?
A startup grant is non-repayable, non-dilutive funding provided to entrepreneurs to help launch or grow their business. Unlike loans, you don’t have to pay it back. And unlike venture capital, you don’t give up any equity. This makes grants a vital early-stage lifeline for many startups.
Why Grants Matter in Early-Stage Funding
Founders often burn through bootstrapped capital or rush into bad equity deals. Grants provide breathing room—allowing you to validate your product, grow traction, or prepare for a larger raise without compromising control.
How MoonshotNX Offers Grants
We offer $50K non-dilutive startup grants through our nonprofit partner, Moonbase. These grants are designed to cover investor-readiness, fundraising support, and advisory services without touching your cap table.
How to Qualify
Eligibility is based on:
Founder potential and clarity of vision
Scalable business model
Impact and innovation in your category
Alignment with our global capital stack model
Apply now to be considered for a grant in our next funding cohort.
Where Else Can You Find Startup Grants?
Local government innovation programs
Corporate innovation challenges
University incubators
Global foundations focused on entrepreneurship
Internal Links:
Learn more about our Capital Stack model
View our full Startup Grant program
Startup grants are more than just free money—they are strategic launchpads. If you’re building something bold, you shouldn’t have to give it away before you even get started. At MoonshotNX, we help you raise on your terms.
50 million start ups are established every year
It all begins with an idea.
Guillermo FlorGuillermo Flor • Following • FollowingVenture Capital Investor @ GoHub VenturesVenture Capital Investor @ GoHub Ventures
50 million new startups are established every year
Out of those, 10 million startups will die before the end of the year
Most startups die because they build something nobody wants
The 1% that does can grow to become unicorns/decacorns
I wrote a full guide for startups to find product market fit and avoid building products nobody wants.
It includes:
1. How to get to Product Market Fit step by step
2. What Kpis you need to measure
3. Success cases like Notion, Canva and Stripe: how they grew, how they fundraised, what investors took part, etc.
Start Ups raising funds
It all begins with an idea.
Michael HummelMichael Hummel • Following • FollowingFounder of Establish - Angel Investor. Learn More at Establishpr.comFounder of Establish - Angel Investor. Learn More at Establishpr.com
If you build a startup with the mentality of not "needing" to raise money, you will always have the option to raise money. Here's what I mean 👇
The current founder model:
1. Get an idea (maybe make MVP)
2. Raise money for idea/MVP
3. Use investor's money to test in the market
4. Run out of money
5. Try to raise more money and wonder why people are saying no
This may have worked in the past, but those days are far behind us.
Here's how to attract capital:
1. Get an idea & build MVP
2. Sell the product
3. Get customer feedback
4. Use money from sales to make the product better
5. Continue to sell products & aim for profit early on.
If you do this new model while scaling your company - investors will be lined up at the door to give you money.
I made a 17-page guide on exactly how to attract investors. It's the new model all startup founders need to thrive in 2024.
Brand Strategy is a Statement
It all begins with an idea.
Jason VanaJason Vana • 2nd • 2ndAttract the RIGHT customers to your business | Brand & content strategist | Founder at SHFT | Known as #sassyjasonAttract the RIGHT customers to your business | Brand & content strategist | Founder at SHFT | Known as #sassyjason
A brand strategy is a statement.
One that defines your:
- unique value
- ideal customer
- market or category
So your business can stand out and attract the right clients.
But don't be fooled.
This will be the most challenging, frustrating, and excruciating statement you will ever write.
Period.
Try taking everything your company does.
Everything you want to be known for.
Everything that makes you unique.
Everything that defines your ICP.
Everything you provide.
And explain it in one clear and compelling sentence.
I'll wait. 🥱
This sh*t ain't easy.
But, there is a framework I use to define that statement.
One that helps me nail it with every single client.
I share it in the carousel below.
Along with an example of a brand strategy statement I wrote for a client.
Give it a look.
You may just find ways to level up your brand.
If you want more and better clients, that is.
✌🏼
Start Up in 13 Sentences
It all begins with an idea.
Burak BuyukdemirBurak Buyukdemir • 2nd • 2ndFounder of Startup IstanbulFounder of Startup Istanbul
💡 Keep your startup on track with these simple, actionable tips. 👇
Stay focused with these key points from Paul Graham’s "Startup in 13 Sentences":
1- Choose Good Partners: Your co-founders are crucial. Pick carefully.
2- Launch Quickly: Don’t wait for perfection. Launch, learn, and improve.
3- Adapt Your Idea: Be ready to change your idea based on feedback.
4- Know Your Users: Understand and meet their needs.
5- Focus on a Few: Make a small group of users very happy.
6- Provide Great Service: Learn from your users and improve.
7- Track Progress: Keep an eye on important numbers.
8- Spend Wisely: Save money to last longer.
9- Cover Basics: Aim to pay your living expenses.
10- Stay Focused: Avoid distractions and stick to your plan.
11- Stay Positive: Keep going, even when it’s tough.
12- Don’t Quit: Keep pushing forward.
13- Stay Ready: Deals can fall through. Focus on your main tasks.
Review these tips often and see how they fit into your journey. 💡
What’s your most important lesson? Share your thoughts!
Proper Due Diligence
It all begins with an idea.
Saravanan RathakrishnanSaravanan Rathakrishnan • 2nd • 2ndSenior Associate at RHTLaw Asia LLP | Specializing in Funds, M&A and Venture Capital | Legal500 Rising Star (Investment Funds) | Structuring High-Impact Private Equity/Debt & Venture Capital Investment FundsSenior Associate at RHTLaw Asia LLP | Specializing in Funds, M&A and Venture Capital | Legal500 Rising Star (Investment Funds) | Structuring High-Impact Private Equity/Debt & Venture Capital Investment Funds
Due diligence is more than just a formality—it’s the key to making informed startup investments that protect your capital and future returns.
Many investors dive into exciting startup opportunities without fully evaluating the risks.
But neglecting a thorough review of key areas can expose you to unforeseen legal and business pitfalls.
What often happens is that investors overlook crucial elements in the due diligence process, focusing too much on the product and less on underlying risks.
This can lead to missteps that affect both their investment and the startup's future.
The truth is, conducting proper due diligence helps you uncover potential issues early on, providing clarity on the risks and helping you make better investment decisions.
Are you conducting thorough due diligence before making startup investments?
Here’s a checklist of key areas investors should focus on when evaluating a potential startup investment:
5 Leadership points
It all begins with an idea.
Jeremy Connell-WaiteJeremy Connell-Waite • Following • FollowingGlobal Communications Designer 👁️🐝Ⓜ️Global Communications Designer 👁️🐝Ⓜ️
A simple 3x5" record card helped Bob Iger to become CEO of Disney, Barack Obama to get elected, Steve Jobs to take on IBM, and JFK to write better speeches.
When Bob Iger was in the running to become the CEO of Disney in 2005 the board didn’t want to elect him. Some people thought he was a lightweight and represented too much of a carbon copy of former CEO Michael Eisner.
So Bob worked with Scott Miller who had previously helped Steve Jobs to mount an “insurgency campaign” to battle IBM in the 1980's.
Their strategy was to write a “stump speech” which contained all the reasons why Bob was the best candidate for the job, and then summarise it onto a 5x3" record card which Bob took everywhere with him.
The 6 statements Bob wrote on his record card became the foundation of every conversation he had during his leadership campaign:
1. Our job is to find the magic, wherever it is in the world.
2. We must restore our relationship with young families and especially young moms.
3. We must stand for family fun.
4. We must restore our relevance for and relationship with teens.
5. We must be agnostic about how our customers consumer our information / entertainment.
6. We must restore the quality of the Disney brand.
You can read about the full strategic process in Miller's “The Leadership Campaign” or read Bob’s take on the campaign in his autobiography “The Ride of a Lifetime”. Both excellent reads. 📚
Next time you are running a campaign of your own – a pitch, a presentation or a promotion – maybe start by writing down what differentiates you from everyone else, and what you want to stand for 5x3” record card? 📝
⬇️
"If you can't explain something simply, you don't know it well enough". Steve Jobs favourite Einstein quote 🖍️
⬇️
“That's what we storytellers do. We restore order with imagination. We instill hope again and again and again.” Walt Disney 🎬
How are Series A Multiple changing over time?
It all begins with an idea.
Michael HoMichael Ho • Following • FollowingSeries A prep for seed stage founders | former VC & exited founder | Click 'visit my website' to register for my next free Seed to Series A live training session 💪Series A prep for seed stage founders | former VC & exited founder | Click 'visit my website' to register for my next free Seed to Series A live training session
How are Series A Multiples changing over time?
→ Let's look quarter by quarter from 2020 to 2024 👀
There are a couple of factors at play here:
1️⃣ The pre-money median valuations went from $28M in 2020 to a peak of $48M in Q1 2022 and are now sitting at $40M in Q2 2024
2️⃣ The pre-money multiples went from 10-20x in 2020 to a peak of 16-32x in Q1 2022 and are now back to the same 10-20x in Q1 2024
So why have valuations gone up, but the multiples stayed the same?
3️⃣ Because 2024 companies are generally further along than the 2020 cohort
4️⃣ It was common in 2020 for a Series A company to be doing between $1M to $2M ARR but now in 2024, it's more common to see $2M to $4M+ ARR
And we're also seeing the medium time from Seed to Series A going from 18 months in 2020 to 24 months now in 2024
So make sure you're clear on the milestones you need to unlock your Series A and make sure to stretch your seed capital to get you all the way there 💪
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♻️ Repost to help a founder in your network
Here is how Limited Partners investing in Venture Capital assess a firm's Partners.
It all begins with an idea.
Myrto LalacosMyrto Lalacos • Following • FollowingEx-VC turned VC Builder | Principal at VC LabEx-VC turned VC Builder | Principal at VC Lab2w • 2 weeks ago
Here is how Limited Partners investing in Venture Capital assess a firm's Partners.
🟢 Green Flags
✦ Anyone who knows them speaks very highly of them.
✦ The Partners are clear in their communication and inspire a high level of trust.
✦ They have significant experience and notable achievements relevant to the fund's investment thesis.
🌕 Yellow Flags
✦ The Partners are building a generalist fund without a clear focus or differentiation in the market.
✦ Their resume shows short role tenure and frequent bumps. VC is a lifelong career, can they commit?
✦ They are not interested in raising future funds, what is the incentive to manage the present fund for the next 10 years?
🟠 Orange Flags
✦ The team dynamic is not great, and the role division is unclear.
✦ None of their investments have been growing rapidly - are they really exceptional pickers and backers?
✦ They have not proven they can lead or win competitive deals. It's easy to spot a good deal, the question is can they get in?
🔴 Red Flags
✦ The Partners lied about or misrepresented their track record or experience.
✦ They displayed unprofessional behavior or withheld important information.
✦ Signs they cannot raise the target fund size - can they set realistic targets and execute on those?
I'm trying to bring to life how LPs conduct due diligence on the Partners of VC firms.
But we're just scratching the surface...
For those wanting to go deeper on the diligence Limited Partners carry out on VC funds, I've linked additional resources below!
−
✍️ Myrto Lalacos
Follow for regular content on launching and investing in Venture Capital firms.