My team and I created a technology which turned into three software-based companies over the past 24 months. we created a small company a year before that that generated enough capital for us to focus on building out the other businesses im our extra time without taking any capital. we developed these other technologies in niche recession insulated industries
Covid took place and hurt our original company which was essentially our living expenses and during covid our VC we had lined up backed out. Essentially over committing our work forces.
We're at a point where the main team is working 100hrs a week but we may not have the man power to deliver on the other contracts which are very profitable long term agreements. 6fig/m profit by Q3 2021 I have drained my personal finances and credit to get this 90% completed but we might not been able to fulfill. This contract has us supporting thousands of commercial locations via national distribution company partnerships. I can't pull resources from the other company.
I've never raised money at all and I'm concerned given the state of my personal finances affecting the ability to get the needed capital. Which we would need fairly quickly 30-45 days to meet the deadline.
I'm unsure if we should try to take just enough to get the current contracts completed with a small buffer or maybe pursue a larger amount for a reserve runway.
Does anyone have any advice or have been in a similar situation it's greatly appreciated.
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