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Most early stage VCs almost always have a flat 1M, 2M or 4Mil valuation buckets. Expect to dilute anywhere between 7-20% depending on revenue (stage), market-size, founding team, and growth numbers. The valuation is negotiable based on the above. If you ask me, they should take up dilutions later, today close the round based on SAFE agreeing on discount and cap. Look for YC video on SAFEs and suggest your friend - SAFE is cost and time effective.

Well, MVP is ready with no revenue, solo founder (one-man army). I think SAFE is a good way to get started.

He should be on https://pioneer.app/

Thanks 👍

Hi, Given the stage you are in go for SAFE or convertibles. You can DM me in case need more discussion. Thanks

Thanks, @Shikhar

I SAFE note is good and fast with companies like 100 X Accelerator but it is post money 15% stake and funding is about 1.5cr. Can be harmful when you raise next round. Good to also check with angels