Based on my experiences in the UK, different start-up's get funding of 30 million etc. but the money is over X years as long as Y objectives are met. In actual fact the company is getting a fraction of that 30 mill each year therefore far less cash rich than the press release indicates.
Milestone-based fundings like this are pretty rare in the US and usually in troubled or very high risk situations. Most vc fundings that you would hear about are straight up equity deals (cash received at closing).
