Srikanth Velamakanni, co-founder and group CEO of Fractal, reflects on the 'worst mistake of his life' in turning down a $750,000 investment from HCLTech co-founders due to board control conditions.
Fractal's founding team rejected the termsheet valuing the company at $3 million, and subsequently faced financial struggles after the dot-com bust.
Velamakanni emphasizes the importance of not letting ego drive decisions, respecting investors' trust, and addressing their concerns.
Fractal, India's first AI unicorn, is planning to raise $500 million through an IPO at a valuation of at least $3.5 billion.