Abhishek Agarwal, the founder of no-code platform AI firm Fabric, shared his thoughts on getting rejected by venture capitalist firm Accel for its Accel Atoms program in a tweet on social media platform X.
What Happened: The entrepreneur revealed in a tweet that he had been rejected by Accel following a review process and internal discussions.
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Agarwal said his previous venture, Aidetic, had been bootstrapped to over $2 million (₹16.6 crore) in revenue without the help of venture capitalists, adding that it was hard but he was willing to do it again.
He said that this time the founders were looking to scale quickly and were therefore seeking VC capital for FabricHQ.
“While ideally, I'd want VCs to see merit in our story, Accel Atoms did not and it is fine. I'll take that as a sign that we need to work harder,” the entrepreneur tweeted.
Despite the setback, the founder has expressed determination and commitment to making Fabric work for their customers. He believes that the lack of VC capital is not a hindrance to their commitment to solving the problem at hand.
The founder concluded the tweet by saying, “Onwards we march. This is just a hiccup,” reflecting the team’s optimism and resilience, and their belief that their early adopters will soon see value in their product.
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