Microcosm - 2nd Seedrs crowd-funding round

So is the balance of the £500k mentioned in the first post - ie £400k - going to be raised in a subsequent (third) round? If so, and if it's equity, is that going to dilute the second round investors? Or is the second round effectively going to give away 25%, 5% now and 20% deferred?

I'm a bit confused.

It comes in rounds:
1) £50k (done)
2) £100k (doing)
3) circa £400k (projected)

Internet companies go through 2 main phases and a transition period:
1) Product to market fit = find the right product for a market, test and prove that it's wanted and achieves all the goals
2) Growth = with the right product in the market, aim to acquire as much of that market as possible

And in-between those 2 phases companies need to transition from product creation to product selling... and usually that is a distinct phase by itself.

The first 2 rounds (the £50k and £100k) are aiming squarely at that first phase of building the product and having the time to test it in the market.

Once we're done with that, we know we'll need to move towards growth. That means sales people (in the form of community managers) and people to help on-board customers. As well as operations people, more hardware, etc.

The projected aim of a further round aimed more at large early-stage funds, key angels or the small VCs is about transitioning from the product dev phase to the product selling phase. The costs go up greatly then, and assuming we're growing faster than we can handle, the revenue lags behind those costs.

Hence, the idea of a bigger round in the future is to help push towards growth.

We've had some inkling that we might be able to do it sooner than we planned (raise that money), and if that's possible on our terms and fits with our expectations and goals we would do it. But our original plan was to do this towards the middle of next year, as we don't want to prematurely start aiming at growth if the product isn't ready for it.

I shared those ambitions to make sure you knew what to expect, not because we're going to rush into it.