Finding Out lightful Is Not Fundable (Yet) — and Being OK With That

Recently I attended the Fundraising School by BADideas.fund, and even though I’ve been in business for quite a while, this side of the picture was always kind of blank for me. So — it was great to finally suck up some new knowledge.

Bad Ideas did a pretty good job — actually, an awesome one.

We started with Understanding fundraising: landscape, fundability & money — and that’s where I realized that I came too early (and thats not what she said).

How Lightful Was Born

Long story short — lightful is a concept that’s been brewing in me for years. It finally hit me like lightning — literally — when I was somewhere closer to God, on a plane from Istanbul to Guangzhou.

On that flight, back in June 2024, I realized something simple: there are plenty of lighting engineers across the world, but our borders limit us. We can only do the projects our local offices bring or whatever pops up in our local markets.

But imagine if we could work across borders, accessing projects anywhere, choosing those we’re best at, and developing our skills in the direction we actually want. Businesses would benefit too — they could hire exactly the right lighting engineer for every project, anywhere, anytime.

After that enlightenment moment, I started sketching a business plan. How could it be both a community project and a business? Simple — it must be profitable enough to grow and build better tools for engineers, while still being built for the community, by the community.

Every engineer would share a percentage from every deal to fund the platform — and have a voice in how it evolves.

The First Pitches (and the First No’s)

Fast-forward to late 2024, when I started pitching. My first “pitch” wasn’t to investors — it was to my long-time business partner Juris, with whom I’ve shared almost two decades at Lucidus.

It wasn’t about raising money yet, it was about getting him informed so he could could do some warm intros. That went well — he understood the idea instantly. Then I moved on to sending out pitch decks.

At that time, I had only an idea and a basic sense of what a pitch deck should include. I hadn’t researched stages, strategies, or expectations. So I did what most first-timers do — I googled “VCs investing early” and started emailing decks.

Life was good — I quickly got my first invite to pitch and even quicker got stopped mid-pitch with a polite “no.” Still, it was valuable. I got feedback, learned the do’s and don’ts, and realized something important: I wasn’t deep enough in the game yet.

MVP: Blood, Sweat, and a Mortgage

The biggest takeaway — I needed an MVP and some traction. So I dug deeper.

I pulled money from savings and investments, took a second mortgage on my apartment, and started building the MVP.

Research said building the full platform would take 3–6 months and cost €200–300K in Latvia. I even found great developers — but their reality was working with funded startups, not one guy bootstrapping.

So, in parallel to registering domains and building landing pages myself, I tried setting up an MVP on Sharetribe (dead end — outsourced dev disappeared), then started coding a “vibe” version on Replit.

It worked surprisingly well — bugs included. I even found a freelance helper who… let’s just say got lost in the process.

Now, finally, I have a small outsourced team building the MVP abroad. You can see the progress here — https://lightfull-web-psi.vercel.app/. (Just don’t open it on mobile yet!)

It’s been fun, but — and here’s the truth — VCs couldn’t care less.

They want three things:

👉 a team,

👉 an MVP,

👉 and traction.

All three are on the way — but not there yet.

Fundraising ≈ Dating

Back to Fundraising School — the next session, Finding the right investors & building your outreach plan, hit differently.

It taught me how to map where, when, and — most importantly — why I should pitch.

I compare it to relationships. You can swipe through until you find someone attractive — but in the end, you need someone who’s actually on your wavelength. You’ll have to compromise, sure, but if you lose yourself trying to please, it’s doomed.

Same goes for investors — not every investor is meant for you, and you’re not meant for every investor. If you start bending over backwards just to get a “yes,” you’ll probably regret it later.

So instead of blasting decks randomly (as I did early on), I’m now focusing on VCs aligned with my direction — marketplaces, AI, niche platforms — and angels who actually get it. Yes, every deck should follow certain structures, but I’ve learned that authenticity beats generic perfection.

I’ll stick to that.

Learning to Pitch Without Hating It

Then came Pitching with impact: deck design, delivery & follow-up.

Crazy valuable. Sharp minds, brutal feedback, and clarity on how to deliver a story that sticks.

Pitching itself? Hardest part for me — right after networking.

I’m an introvert, and my narcissistic side doesn’t help. Most of my life I’ve known my value and had no idea why I should prove it to anyone.

Back in high school math class, I used to skip the first two tests, ace the last one, and end the year with good enough grades to keep myself in — infuriating teachers and parents alike. They saw wasted potential, I saw efficiency.

That mindset doesn’t help in pitching or networking — both require repeatedly proving your value. I’ve spent 18 years in one company, in a small market, where our reputation speaks for itself. We rarely need to explain why us.

So yes, pitching drained me at first. But it also changed me. I bombed my first pitch, learned fast, and built a 3-minute version straight from the heart — still structured, still with numbers, but finally authentic.

And surprisingly — I enjoyed it. Turns out when you speak about something you truly believe in, you can do it endlessly — like a priest preaching his gospel.

And the feedback proved the point — during the speed-dating session I got a comment that “this is actually a solid case,” which felt damn good to hear and well appreciated.

Closing, Networking, and Realizations

Last part — Sealing the deal: negotiation, closing & beyond.

Super practical, something I’ll use soon enough. No need to repeat the slides here — it was gold.

We also had firesides, speed-dating, and demo day. The final event was great — I even managed to approach an angel syndicate before entering the building (good omen, right?).

It was inspiring to see the top 7 pitches, including another lighting startup — Olga from accentric.ai. And yes — I’ll admit it — it was actually great to network. Like-minded people, sharp discussions, and lots of inspiration.

What I Learned About Fundability

The biggest realization? The fact that this kind of course even exists means there’s more capital available in our region than startups can currently absorb.

The problem isn’t lack of money — it’s that many ideas (mine included) are still raw. They need polishing to shine like diamonds.

In my favor:

– 18 years in lighting

– 8+ years building Lucidus Techno UAB from zero to a solid professional team

– Member of Latvian State Standard STK46 Lighting Committee

On the other side:

– I’m a solo founder without a CTO

– Even with 100+ engineers pre-MVP, VCs still want to see customer traction

So — in my own bubble, I’ve done a crazy amount. But from a VC’s perspective — I’m still too early.

Taking both views together: I’m too early — and I’m OK with that.

Finding the Balance

I now clearly see why VCs value teams — with a team, I wouldn’t have to juggle HubSpot setups, code bugs, CTAs, and landing pages. VCs would get a founder focused on fundraising and growth, not multitasking.

Still, it raises a question — to what level is it OK for me to let fundraising shift from a tool to my main focus?

Without taking a hard stance here, I’ll just say this: a solo-founded unicorn is a matter of time, not “if”.

So, without closing the door on joining forces with like-minded people and investors, I tend to think — I’m doing it my way.

The Open CTA

If you are — or know — someone interested in joining on equity as a Tech Lead, GTM specialist, or any other relevant role — hit me up on LinkedIn.

If you’re a lighting engineer, join the community → lightful.eu/log-in

If you’re a business looking to hire lighting engineers on demand → lightineering.com/log-in

If you’re an investor curious to know more → lightful.eu/partners

Final Word

Big kudos to the BADideas.fund and their Fundraising School — truly worth it.

If you ever get the chance to join when the next applications open — do it.

You’ll come out smarter, sharper, and probably a bit more self-aware than you expected.