My name is Kat Dey, and I’m the Co-founder and President of ettitude, a next-generation materials company. 

At ettitude, we’ve pioneered innovative fibers that can be spun into yarns and textiles that are healthier for people and better for the planet. 

We commercialized these innovative materials first in the bedding space, and our own consumer brand, offering what we believe to be the best sheets in the world, crafted from our proprietary, high performance and eco-friendly technology.

ettitude was originally founded by textile expert Phoebe Yu, who set out to transform the textile industry — the world’s second most polluting sector. 

I joined 4 years after its founding, bringing my background in health, wellness, and consumer startups. 

Prior to ettitude, I founded, scaled, and sold a mission-driven food subscription company, which was recognized as the third fastest-growing company in New York before it was acquired in 2017.

When I joined ettitude in 2018, we already had our proprietary textile technology in place. We decided to apply to the Entrepreneurs Roundtable Accelerator, a 4-month incubator program in New York, which invested $100k in us. 

After the program, we embarked on raising our pre-seed round, primarily funded by angel investors, some of whom were partners at early-stage seed funds. 

Interestingly, one of these investors went on to lead a priced round for us a few years later.

Between our pre-seed and seed rounds, we raised a total of $3M — $1.5M in each round. We closed the seed round in March 2020, just as the world was thrown into uncertainty by COVID-19. 

Convincing investors at that time was challenging; we had to reassure them that our business would remain viable despite the pandemic, and if we did have to pause, their investment would still be protected.

Fortunately, the e-commerce boom that followed, especially for home goods, allowed us to thrive. Our revenue skyrocketed, and we tripled the business within a year. 

Just a few months later, we raised additional funding at a slightly higher valuation.

Our commitment to ethical business and sustainability led us to become a certified B Corp, ensuring we meet the highest standards of social and environmental performance. 

We also completed rigorous certifications for our brand, including a lifecycle assessment by a third party. 

The results were remarkable: our fabric saves 99% of water and reduces CO2 emissions by 38% compared to conventional cotton, the primary material in the bedding industry.

This realization expanded our mission. We saw an opportunity to empower other home goods and apparel brands by replacing conventional, unsustainable materials with our eco-friendly textiles. 

This vision marked the beginning of our B2B business strategy, with the potential to grow the company to a billion-dollar-plus valuation.

To bring this vision to life, we needed further capital. Since our B2B business was still in its infancy, we raised a Seed Extension using a SAFE note.

This unpriced round allowed us to achieve milestones and validate industry interest in our materials. 

Between 2022 and 2024, we raised $6M on a rolling close, giving us the traction we needed to prepare for our Series A.

We’re now actively raising our Series A, with a clear focus on scaling both our consumer brand and our B2B business.

Initially, our strategy focused on growing our brand, so much of the funding went toward brand building, awareness, and marketing, as well as inventory, product development, and expanding our team.

We also leveraged non-dilutive funding, which is particularly valuable for physical goods companies. 

For example, we secured a $4M line of credit from Assembled Brands, an excellent capital partner for consumer brands. This allowed us to fund inventory without raising equity, thereby preserving ownership.

Our equity capital was directed toward scaling the company, research and development, and expanding distribution channels.

As a mission-driven company, finding investors aligned with our values was essential. Fortunately, everyone on our cap table shares this alignment. 

Drumbeat Ventures, an impact-focused investor, led our seed round in 2020. Their thesis centers on supporting early-stage, mission-driven companies, as these often deliver higher returns.

Our seed extension was led by IgniteXL, a VC focused on clean beauty, innovative materials, and fashion — making them a perfect match for our industry and values.

Fundraising feels like a second job at times, requiring ongoing networking and outreach. Many of our investors came through introductions, which I found to be more effective than cold outreach. 

I also participated in pitch events with angel networks, which provided valuable connections.

COVID actually streamlined networking, allowing us to connect with investors worldwide without needing in-person meetings. 

This expanded our network globally, with investors primarily in the U.S., but also from Europe and Asia.

I’ve also worked with broker-dealers who introduce high-net-worth individuals and family offices; quite a few of these are on our cap table. 

Additionally, we maintain a newsletter for potential investors, consistently updating it with new contacts and keeping everyone informed of our progress. 

Building these relationships often takes time, and regular updates—every 6 to 12 months—help investors gain confidence before deciding to invest.

Altogether, probably close to a thousand — including those reached out to by others on my behalf. I personally held a few hundred meetings, and ultimately, we brought 50 investors on board.

I focus on our unique technology and the major problem we’re addressing. Our tech is patented and trademarked, giving us a strong moat and multiple advantages in the market.

I also find that experiencing the product firsthand is incredibly persuasive. When someone sleeps on ettitude bedding or even just feels the fabric, they understand the difference. 

That’s why I always bring ettitude products to networking events.

There are ways to create natural FOMO and then there are more manipulative tactics—I always chose the former. I was transparent with investors about our timeline, letting them know the timing upfront.

Most investors, particularly institutional funds, can’t make decisions immediately; they need time to go through their internal processes.

Creating urgency can be challenging with these firms, as they often require a more extended timeline. 

I generally give investors around 4 to 6 weeks to make a decision, which is usually sufficient for due diligence.

The biggest challenge we faced during fundraising stemmed from the shifts in the investment landscape over the past couple of years. 

Funds themselves have been under pressure, struggling to raise capital, and often facing difficulties even with committed capital, as some LPs were unable or reluctant to follow through. 

This turbulence led many investors to pivot their strategies and adjust their theses to adapt to the rapidly changing macro environment. 

As a result, it became increasingly challenging to identify the right investors, as even familiar names had moved away from their previous focus areas.

For us, this meant rethinking our approach and targeting a different type of investor. 

The shifting strategies among institutional funds delayed our progress in that sector, but we ultimately filled the round by partnering with smaller family offices that were not bound by rigid mandates. 

These investors offered us greater flexibility, allowing us to reach our fundraising goals despite the obstacles.

I do have a unique perspective to share. 

As a female founder, especially pre-COVID, I often encountered questions that underscored the double standard women face in fundraising. 

When I was visibly pregnant, attending networking events and investor meetings, I was frequently asked how I planned to handle maternity leave or what would happen to the company after my baby arrived.

This is a question that rarely, if ever, comes up for male founders.

Even if a male founder mentions they’re expecting a child, there’s almost never any question about how the business will run or if they’ll need time off to be with their family. 

When a founder is out raising capital, it’s usually a sign they’re fully committed to seeing their company succeed, regardless of personal circumstances, with clear plans to keep everything on track.

It’s worth noting that while female founders receive only about 2% of all venture capital, they often outperform their peers, creating incredible opportunities for investors to see significant returns. 

Recognizing this potential — and supporting gender-balanced leadership — should be an easy decision for any investor seeking both impact and strong financial outcomes.

As a consumer founder, always bring your product with you if you have one. Even if you’re a technology founder, demonstrating your solution in real-time can significantly increase your chances of success.

I’ve never been a solo founder, and I believe having a co-founder with complementary skills and a compatible personality is crucial. The right co-founder can enhance your fundraising efforts and contribute to overall success.

If fundraising is part of your journey, it’s essential for you and your co-founder to be aligned.

A clear division of labor is vital; I often take the lead on fundraising so my co-founder can focus on engaging with only those investors who are genuinely interested and likely to invest.

We're very happy with our seed extension lead investor, Claire Chang at IgniteXL. They're a great VC based in Palo Alto focused on consumer, clean tech, clean beauty, and fashion.  

Another is Odile Roujol, the GP of Fab Co-Creation Studio Ventures. Odile invested as an angel investor herself, rather than the fund as they don’t invest in the stage we’re at.

Her network is really amazing. She has a network called FaB Community. It’s great for consumer brands.

Limited Supply is a podcast for founders of consumer brands. Nik Sharma talks about all the tools out there along with fundraising advice and more. 

I would say this is a great podcast that reflects how people have shifted their business and how you can do it too.

My experience has taught me that there are generally two approaches to fundraising.

The first involves securing all the capital you think you need in one go, which can provide a strong foundation but often comes with high expectations. 

The second approach is much slower and more incremental, allowing for more thoughtful growth and adaptation as your business and the world evolves.

I’ve learned to embrace the second approach, focusing on building relationships with investors who align with our mission and values.

This strategy not only fosters a sense of community but also enables us to iterate on our product and business model based on feedback.

In summary, fundraising is not just about the money; it’s about the journey and the relationships you build along the way. Patience and persistence are crucial in creating a lasting impact.