At this stage, we presume that the idea has been transformed into a product and is being produced and sold. This is the first encounter with the rest of the market.

The above lines refers to______.

Second round finance

The correct answer is option (3) - Second round finance

Second-round financing: At this stage, we presume that the idea has been transformed into a product and is being produced and sold. This is the first encounter with the rest of the market, the competitors and attempt is to squeeze in the market and get some market share from the competitors.