Build Mode

Building an AI startup is one thing. Raising one of the largest seed rounds of the year before launching a product is something else entirely.

In this episode of Build Mode, host and Startup Battlefield lead Isabelle Johannesen sits down with Andrew Dai, founder and CEO of Elorian and former Google DeepMind researcher, to unpack how his company raised a $55 million seed round at a $300 million valuation before generating revenue or releasing a product.

Andrew shares what investors saw in Elorian's vision for visual AI, how he approached fundraising after leaving Google DeepMind, and why choosing the right investors mattered more than maximizing valuation. He also offers practical advice for founders building in AI, explains why today's fundraising environment rewards clear storytelling over technical jargon, and shares what surprised him most as a first-time founder.

They get into:

How Elorian raised a $55 million seed round before launching a product

Why visual AI is one of the next major frontiers in artificial intelligence

What investors look for when backing frontier AI startups

Why the highest valuation isn't always the best fundraising outcome

How to pitch highly technical products to non-technical investors

What founders should look for when choosing venture capital partners

How to hire top AI talent away from Big Tech

Why moving quickly matters more than ever in today's AI race

How founders can build defensible AI companies as technology evolves

Andrew's advice for first-time founders raising venture capital

Subscribe to Build Mode on⁠ Apple Podcasts⁠, ⁠Spotify⁠, or⁠ wherever you like to listen⁠. And watch the full videos on⁠ YouTube⁠. New episodes of ⁠Build Mode⁠ drop every Thursday.

Chapters:

00:00 Meet Andrew Dai: From DeepMind to Building Elorian
01:48 Why Visual AI Is the Next Frontier
04:50 Raising a $55M Seed With No Revenue
08:46 Landing Nvidia, Jeff Dean, and Top AI Investors
12:17 Managing the Pressure of a $300M Valuation
14:40 How AI Founders Should Pitch Investors
20:47 Hiring, Scaling, and Building a Frontier AI Company
27:00 Turning Down Bigger Offers & Advice for Future Founders

Hosted by Isabelle Johannessen. Produced and edited by Maggie Nye. Audience development led by Morgan Little. Special thanks to the Foundry and Cheddar video teams.

Raising your first round has always been hard — but in today’s market, the rules are changing fast.

In this episode of Build Mode, our host and Startup Battlefield lead Isabelle Johannesen sits down with Charles Hudson, Founder and Managing Partner of Precursor Ventures, to talk about what early-stage founders need to know before raising their first institutional round.

Charles shares a candid look at how the venture landscape has shifted, why AI is changing what investors pay attention to, and how founders can better navigate fundraising when the old playbooks no longer apply.

They get into:

• Why raising pre-seed and seed funding feels harder right now• How AI is reshaping venture capital• What founders should know before choosing an investor• Why the highest valuation is not always the best deal• How to build momentum during a fundraise• Why storytelling and a strong blurb matter more than ever• What happens when a startup raises too much too soon• Why the biggest risk may not be a down round — but no round at all• How to think about whether venture capital is actually the right path

Whether you're preparing to raise, currently fundraising, or just trying to understand how early-stage venture is changing, this conversation is packed with practical, honest advice for founders building in today’s market.

Subscribe to Build Mode on⁠ Apple Podcasts⁠, ⁠Spotify⁠, or⁠ wherever you like to listen⁠. And watch the full videos on⁠ YouTube⁠. New episodes of ⁠Build Mode⁠ drop every Thursday.

Chapters:

00:00 – The New Rules of Startup Fundraising

02:00 – What VCs Look for in First-Time Founders

08:50 – The Biggest Fundraising Mistakes Startup Founders Make

13:20 – Why Startup Valuations Are So Unpredictable in 2026

18:20 – Why Raising Too Much Money Can Hurt Your Startup

25:55 – Should Every Startup Raise Venture Capital?

29:20 – How to Choose the Right VC Investor

33:55 – Why Silicon Valley Still Gives Founders an Advantage

36:40 – How to Build Momentum During a Startup Fundraise

Hosted by Isabelle Johannessen. Produced and edited by Maggie Nye. Audience development led by Morgan Little. Special thanks to the Foundry and Cheddar video teams.

Startup fundraising is harder than ever, and Season 3 of Build Mode is here to help. Whether you're raising a seed round, preparing for Series A, pitching venture capital firms, negotiating a term sheet, or exploring alternatives to VC funding, this season is packed with practical advice from founders and investors who have successfully navigated the fundraising journey.

Hosted by TechCrunch Startup Battlefield Editor Isabelle Johannessen, Build Mode is the TechCrunch podcast where founders, investors, and startup operators share honest conversations about what it really takes to build and finance a company. This season features Charles Hudson (Precursor Ventures), Andrew Dai (Elorian), Ashley Tyrner-Dolce (FarmboxRx), Kristina Subbotina (Lexsy AI), Sydney Sykes (NVIDIA), Xavier Chi (Mbodi), Jack Groetzinger (SeatGeek), Sasha Orloff (Puzzle), Everette Taylor (Kickstarter), Manan Mehta (Unshackled Ventures), Julia Hartz (Eventbrite), and more. Together, they cover topics including avoiding down rounds, raising capital in today's venture market, working with corporate venture capital, crowdfunding, startup financial readiness, fundraising as an immigrant founder, IPO lessons, and how to deliver a winning startup pitch.

If you're an entrepreneur, startup founder, investor, or operator looking for actionable fundraising advice, this season is your playbook. New episodes begin July 9 and release every week on YouTube, Spotify, Apple Podcasts, and wherever you listen to podcasts. Subscribe now and learn how to raise capital, grow your startup, and build with confidence.

This week on Build Mode, we’re diving back into the archives for a special best-of episode all about venture capital. Host Isabelle Johannesen and producer Maggie Nye revisit conversations from past seasons to give founders a glimpse behind the VC curtain and a better understanding of what investors are really looking for.

From choosing the right investors to building a differentiated go-to-market strategy, these venture capitalists and founder-turned-investors share hard-earned lessons on fundraising, portfolio dynamics, investor-founder relationships, and what separates the companies that successfully raise their next round from those that don't.

In this episode, you'll hear from:


⁠Yuri Sagalov, managing director at General Catalyst⁠


⁠Ross Fubini, managing partner at XYZ Venture Capital⁠ and Leslie Feinzaig, founder and general partner at Graham & Walker⁠


⁠Paul Irving, partner at GTMfund⁠


⁠Leah Solivan, founder of TaskRabbit and founder of Precedent VC⁠

Chapters:

00:00 Intro

01:19 Yuri Sagalov (General Catalyst): The three types of investors and who founders should avoid

03:29 Ross Fubini (XYZ VC) & Leslie Feinzaig (Graham & Walker): What great investors actually bring to the table

08:36 Paul Irving (GTMfund): The go-to-market signals investors look for

12:30 Leah Solivan (TaskRabbit / Precedent VC): Understanding the competition inside your investors' portfolios

14:30 Outro

Subscribe to Build Mode on⁠ ⁠Apple Podcasts⁠⁠,⁠ ⁠Spotify⁠⁠, or⁠ ⁠wherever you like to listen⁠⁠. And watch the full videos on⁠ ⁠YouTube⁠⁠. New episodes of⁠ ⁠Build Mode⁠⁠ drop every Thursday. Hosted by Isabelle Johannessen. Produced and edited by Maggie Nye. Audience development led by Morgan Little. Special thanks to the Foundry and Cheddar video teams.

This week on Build Mode, we’re diving back into the archives for a special best-of episode all about company culture. Host Isabelle Johannesen and producer Maggie Nye revisit some of the most insightful conversations from past seasons to explore how founders intentionally shape culture from day one and why the habits, values, and decisions of leadership have an outsized impact as companies scale.

Guests share lessons on hiring for culture, developing strong leaders, building diverse teams, navigating layoffs with empathy, and creating workplaces where people can do their best work. From early-stage startups to high-growth companies, these founders reveal what they've learned about building cultures that last.

In this episode, you'll hear from:


Ian Schmidt, partner & consultant at Trimergence


Hala Jawani, cofounder & CEO of Rivio


Ayal Yogev, cofounder & CEO of Anjuna


Leah Solivan, founder of TaskRabbit and founder of Precedent VC


Jasper Carmichael-Jack, cofounder & CEO of Artisan

Chapters:

00:00 Intro

01:22 Ian Schmidt (Trimergence): Why founders should invest in leadership and culture early

03:55 Hala Jawani (Riveo): Hiring leaders who can scale culture

05:22 Eyal Yogev (Anjuna): Why culture is built through a thousand small decisions

08:51 Leah Solivan (TaskRabbit / Precedent VC): Building diverse teams from day one

13:15 Jasper Carmichael-Jack (Artisan): How AI could reshape workplace culture

15:45 Outro

Subscribe to Build Mode on ⁠Apple Podcasts⁠, ⁠Spotify⁠, or ⁠wherever you like to listen⁠. And watch the full videos on ⁠YouTube⁠. New episodes of ⁠Build Mode⁠ drop every Thursday. Hosted by Isabelle Johannessen. Produced and edited by Maggie Nye. Audience development led by Morgan Little. Special thanks to the Foundry and Cheddar video teams.