Well, there are several available options, as follows:
1. Bootstrap first, then raise one or more VC rounds.
2. Go typical VC route (angel/pre-seed/seed, Series A, etc.), but skip a round or, better, two.
3. Establish a multi-class equity structure, where a) founders are issued equity with increased voting power (typically, 10+ votes per share vs. 1 vote per share for common [and sometimes even preferred] shares) or b) founders' equity has voting power, while common shares have zero voting power (more often used for crowdfunding and Reg D private offerings). There is an extensive debate on advantages, disadvantages and ethical aspects of this approach.
4. Use alternative funding approaches (e.g., SMB loans, asset-based lending and revenue-based lending).
While each of the approaches that I mentioned above is best suitable for certain types of companies (and circumstances), the list as a whole is generic and comprehensive enough.
Re: CapEx/research-heavy projects -- Interestingly enough, I'm in a pretty much the same situation, as I'm working on my science-focused startup (currently as a side project) and using the same framework for deciding between potential funding approaches. Perhaps, we should talk in private and exchange our thoughts and experiences as well as maybe consider some collaboration (especially in case if you decide to abandon your idea) - your skillset and interests are potentially a good match. :-)
Feel free to reach me at aleksandr dot blekh at Gmail service.
1. Bootstrap first, then raise one or more VC rounds.
2. Go typical VC route (angel/pre-seed/seed, Series A, etc.), but skip a round or, better, two.
3. Establish a multi-class equity structure, where a) founders are issued equity with increased voting power (typically, 10+ votes per share vs. 1 vote per share for common [and sometimes even preferred] shares) or b) founders' equity has voting power, while common shares have zero voting power (more often used for crowdfunding and Reg D private offerings). There is an extensive debate on advantages, disadvantages and ethical aspects of this approach.
4. Use alternative funding approaches (e.g., SMB loans, asset-based lending and revenue-based lending).
P.S. Hi from ATL! :-)