| Round | Raise ₹ | Pre-money ₹ | New ESOP % | |
|---|---|---|---|---|
Simplified model (priced rounds; the ESOP % is the pool's share after the round, created before it is priced, so it dilutes existing holders and not the new investor). Real term sheets add liquidation preferences, SAFEs, anti-dilution and more — use this to build intuition, not for legal docs.
The founder's dilution math
What to watch
Every priced round dilutes you by roughly raise ÷ post-money. Raising ₹2 Cr at ₹8 Cr pre-money (₹10 Cr post) sells ~20% — plus any ESOP top-up, which usually comes out of your slice, not the new investor's.
Ownership % matters less than ownership × value. Going from 100% of a small company to 55% of a much larger one is the whole point — just make sure each round buys enough growth to justify the dilution.