Another approach some developers have been using to raise funds is to secure a round of funding through KS before going to more traditional funding sources, effectively using the KS money as seed. An example of that is Chronicles of Elyria, by Soulbound Studios.
I'm sure you've considered that avenue. Curious to know why you did not choose it.
CoE started with $500k from the founder's own pockets and "friends & family" - those were their seed money (or pre-seed, if you want). Then, 8 months after the project was announced and the website launched, there was a Kickstarter. I haven't followed what came after but I indeed suppose they want to raise even more money through a Series A investment round.
This first step - those magic 500k - is the key there Carrying a whole team to a Kickstarter for an MMO takes months, and that requires significant funds already. If you're not wealthy to begin with - and we're not - you need to find investors before KS :slight_smile: