The answer to this question really should be decided on a case by case basis. How much am I looking to raise in total, how much investment do I need now, and how many investors are looking to invest? What sort of deal terms is my investor looking for? Is there going to be an event in the next 6 months where my valuation is going to increase?
If you are looking to quickly take in a small amount of investment and don’t want to commit to a valuation, use a SeedFAST. If you have a large amount of investors coming on board and you want to negotiate deal terms now, do a funding round. If you know what equity percentages you are going to give to investors and you don’t know how much investment you are going to secure in the future, start a round and keep it open using the Instant Investment product.