Does it matter who I fundraise from, should I look for experienced investors ?

It's quite risky to go with people who don't have at least a basic grasp of the area that they're investing in. If they're not aware of how product lifecycles work online, then they might start getting frustrated, demanding updates and generally distracting you from your primary goal - which is getting your product up and running and getting traction.

I have spoken to a number of people about investing in different projects. Some are tech-savvy, many are not. The guys who made their money from factories and real-estate rarely understand how online businesses work. These guys are looking for the next Google or the next Facebook, with little understanding of what either do or of how rare those companies are. Also, the fact that they have been involved in physical infrastructure means that they measure progress in a very linear and definite way. They like to see foundations in place, walls going up - and they use that as a barometer for how well the project is progressing. The reality is that with online and mobile products, you can't 'see' a lot of the work that's being done. You could send them on lines and lines of code, but it wouldn't help. It might be difficult for them to visualise or conceive of how their money is being spent. With someone who has experience of software or the web - particularly with someone who has made money in either sector, you're more likely to get an understanding of how the development process works and what product timelines and lifecycles are like.

That's one big issue. The other big issue with investors is what they add other than money. People talk a lot about value add when it comes to investors, and in my opinion, it's hugely important. I've met with investors who would simply write a cheque and leave it at that. An investor who has a name in your industry, who has contacts in the industry in your region and further afield or who has the ability to bring some level of expertise to bear on your company is far more valuable than any investor with a fat bank account and a high level of self worth! I would always look for at least some level of value add from an investor - can they introduce you to potential partners or clients? Can they offer you free office space or access to free legal/accountancy advise? Do they have connections in universities or ministries of labour which you can use to explore internships or Government funding assistance?

That's just my two cents. I think it's always a bit risky going with people who don't have a grasp of this sector. These investors could be different, but I would be wary...