How a company with no revenue or product can have a "low" valuation that results in a $1M+ investment is beyond me. Any value beyond $0 is hyperbolic. No revenue, no product, no proof, no value.
Yes, you can have potential value, which is of course what seed round investors invest in, but I find it astounding that there are seeds for technical products that reach even this size. You can produce a prototype for $100k. When it's time to market it, Series A.
I'd love to be happy for you but as someone who's spent a decade building a profitable business and SaaS that's still apparently worth nothing because we make money I can't accept that a $1m+ investment at seed round is a "low valuation". It's not. It's a very generous valuation. Until you have paying customers, your value is $0.
Please don't get me wrong - not trying to denigrate what you guys are doing, or to piss on your parade, but I just find the entire idea that people would say this is a low valuation mind-boggling.