Latest news with #YCombinator
Time of India
3 hours ago
- Business
- Time of India
Former Y Combinator investor Arnav Sahu joins Peak XV
Arnav Sahu has joined Peak XV as the first investment partner after a four-year stint as principal at startup accelerator Y Combinator . Confirming the news on X (formerly Twitter), Sahu said he has joined Peak XV in Bay Area, California, as a partner. 'YC changed my life trajectory. It's been a fun and intense few weeks at Peak XV. We've invested in some special YC startups in SF and globally. Lots more to come.' — arnavsahu341 (@arnavsahu341) In his earlier role at Y Combinator, Sahu was involved in growth investing efforts from seed funding to Series D stage. He has been associated with firms like ScaleAI, Replicate, Zepto, Luminai, Vanta, Rippling, among others, as an investor, according to information on his LinkedIn. Entering the new role, Sahu will make investments as part of a new San Francisco-based team. Since 2023, Peak XV has been trying to establish itself as a standalone identity after the Sequoia spin-off. Live Events The move aligns with a significant push to establish itself in the US, where it was unable to compete for deals due to its franchise partnership with Sequoia, ET reported in April. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories In a career spanning over 12 years, Sahu has led investments at firms including Y Combinator's Continuity Fund, Spark Capital, and Blackstone. He had also founded AI-search startup Wolfia and led projects for App Dynamics and Cisco. In April, Peak XV Partners made headlines as it planned its first independent fund with a target corpus of $1.2–1.4 billion. The top deck restructuring is an effort to make deals in the booming AI-sector, and help its startups collaborate in the US. Since 2006, the venture capital firm — which has backed new-age companies such as Razorpay, Oyo and Truecaller, in addition to traditional businesses such as Prataap Snacks, Five Star Business Finance and Indigo Paints — has realised almost $6 billion in cash through exits from both public markets and private transactions.
Yahoo
4 hours ago
- Business
- Yahoo
Startups Weekly: Fast and furious
Welcome to Startups Weekly — your weekly recap of everything you can't miss from the world of startups. Want it in your inbox every Friday? Sign up here. Some startups accrued value at lightning speed this week, and we got confirmation that defense tech is red hot. Many startup stories this week occurred in Y Combinator's orbit in some way. Also, Israel once again lived up to its 'Start-Up Nation' reputation. That was fast: No-code website-building platform Wix acquired 6-month-old, bootstrapped vibe-coding startup Base44 — both Israeli companies — for $80 million in cash. That was fast, too: In just three months, Ramp's valuation jumped to $16 billion following its Series E, up from $13 billion when the spend management startup did a secondary sale earlier this year. Friends and foes: New details emerged on Meta's $14.3 billion deal to acquire 49% of startup Scale AI, including a potential dividend payout. We also learned that OpenAI was dropping Scale AI as a data provider following the deal. Frenemies: The U.S. Department of Defense awarded a contract worth up to $200 million directly to OpenAI, which could further strain the startup's relationship with Microsoft. ICYMI: Out of all the teams presenting at YC's recent Spring 2025 Demo Day, here are 11 startups that investors have been talking about. Didn't happen: People are also still talking about the police shutting down the YC Demo Day after-party that controversial AI startup Cluely tried to throw; or as its CEO told TechCrunch, 'the most legendary party that never happened.' Most funding news was driven by either defense tech, AI, or both, but there were also some surprises. Plus, one VC firm is aiming high for its next fund. Good intuition: Applied Intuition, a company making software for autonomous vehicles, secured a $600 million Series F and tender offer at a $15 billion valuation. New tune: Munich-based defense tech startup Helsing closed a €600 million investment led by Prima Materia, the VC firm of Spotify's founder Daniel Ek, which valued Helsing at €12 billion. New unicorn: Israeli observability startup Coralogix became a unicorn after raising a $115 million Series E, which it will use to double its headcount in India, where 100 of its 550 employees are currently based. Toldja: Mach Industries, a 2-year-old defense tech startup, confirmed having raised a $100 million round of funding led by Khosla Ventures and Bedrock at a $470 million valuation. Money flows: Aspora, a startup formerly known as Vance and focused on facilitating remittances from the Indian diaspora, closed a $50 million Series B co-led by Sequoia and Greylock at a $500 million valuation. Change of heart: Sword Health, an AI-powered digital health startup that began as a virtual physical therapy solution, locked in $40 million at a $4 billion valuation in a funding round led by returning investor General Catalyst. It also pushed back its IPO plans to at least 2028. Multiplier effect: Multiplier Holdings announced having raised $27.5 million across seed and Series A rounds after joining the growing trend of buying legacy service businesses — in its case, accounting firms — and scaling them with AI. Stock where you shop: Grifin, a startup whose app helps users buy stock from brands they shop at, such as Walmart, secured $11 million in a Series A round. Out of Sweden: Polar, a payment infrastructure platform for developers and AI-first businesses, raised a $10 million seed round led by Accel. Its CEO previously co-founded Tictail, which was acquired by Shopify in 2018. Bullish: Global VC Endeavor Catalyst is seeking to raise $300 million for its fifth fund. This would be its largest yet, as it looks to deepen its bet on fast-growing startups in emerging markets. An early investor in Chime, founder-turned-VC Alexa von Tobel is ready for Fintech 3.0. 'The next wave of innovation won't come from superficial tweaks but from fundamental deep product reinvention — tools that meet the needs of a changing economy and a more diverse, digitally native population,' she told TechCrunch in an interview. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
5 hours ago
- Business
- TechCrunch
Startups Weekly: Fast and furious
Welcome to Startups Weekly — your weekly recap of everything you can't miss from the world of startups. Want it in your inbox every Friday? Sign up here. Some startups accrued value at lightning speed this week, and we got confirmation that defense tech is red hot. Most interesting startup stories from the week Image Credits:Kelly Sullivan / Getty Images Many startup stories this week occurred in Y Combinator's orbit in some way. Also, Israel once again lived up to its 'Start-Up Nation' reputation. That was fast: No-code website-building platform Wix acquired 6-month-old, bootstrapped vibe-coding startup Base44 — both Israeli companies — for $80 million in cash. That was fast, too: In just three months, Ramp's valuation jumped to $16 billion following its Series E, up from $13 billion when the spend management startup did a secondary sale earlier this year. Friends and foes: New details emerged on Meta's $14.3 billion deal to acquire 49% of startup Scale AI, including a potential dividend payout. We also learned that OpenAI was dropping Scale AI as a data provider following the deal. Frenemies: The U.S. Department of Defense awarded a contract worth up to $200 million directly to OpenAI, which could further strain the startup's relationship with Microsoft. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW ICYMI: Out of all the teams presenting at YC's recent Spring 2025 Demo Day, here are 11 startups that investors have been talking about. Didn't happen: People are also still talking about the police shutting down the YC Demo Day after-party that controversial AI startup Cluely tried to throw; or as its CEO told TechCrunch, 'the most legendary party that never happened.' Most interesting VC and funding news this week Helsing Image Credits:Helsing Most funding news was driven by either defense tech, AI, or both, but there were also some surprises. Plus, one VC firm is aiming high for its next fund. Good intuition: Applied Intuition, a company making software for autonomous vehicles, secured a $600 million Series F and tender offer at a $15 billion valuation. New tune: Munich-based defense tech startup Helsing closed a €600 million investment led by Prima Materia, the VC firm of Spotify's founder Daniel Ek, which valued Helsing at €12 billion. New unicorn: Israeli observability startup Coralogix became a unicorn after raising a $115 million Series E, which it will use to double its headcount in India, where 100 of its 550 employees are currently based. Toldja: Mach Industries, a 2-year-old defense tech startup, confirmed having raised a $100 million round of funding led by Khosla Ventures and Bedrock at a $470 million valuation. Money flows: Aspora, a startup formerly known as Vance and focused on facilitating remittances from the Indian diaspora, closed a $50 million Series B co-led by Sequoia and Greylock at a $500 million valuation. Change of heart: Sword Health, an AI-powered digital health startup that began as a virtual physical therapy solution, locked in $40 million at a $4 billion valuation in a funding round led by returning investor General Catalyst. It also pushed back its IPO plans to at least 2028. Multiplier effect: Multiplier Holdings announced having raised $27.5 million across seed and Series A rounds after joining the growing trend of buying legacy service businesses — in its case, accounting firms — and scaling them with AI. Stock where you shop: Grifin, a startup whose app helps users buy stock from brands they shop at, such as Walmart, secured $11 million in a Series A round. Out of Sweden: Polar, a payment infrastructure platform for developers and AI-first businesses, raised a $10 million seed round led by Accel. Its CEO previously co-founded Tictail, which was acquired by Shopify in 2018. Bullish: Global VC Endeavor Catalyst is seeking to raise $300 million for its fifth fund. This would be its largest yet, as it looks to deepen its bet on fast-growing startups in emerging markets. Last but not least Image Credits:Alexa von Tobel An early investor in Chime, founder-turned-VC Alexa von Tobel is ready for Fintech 3.0. 'The next wave of innovation won't come from superficial tweaks but from fundamental deep product reinvention — tools that meet the needs of a changing economy and a more diverse, digitally native population,' she told TechCrunch in an interview.
Time of India
12 hours ago
- Business
- Time of India
Elon Musk on when he just wanted a job at Netscape and was rejected because …
Tesla CEO Elon Musk revealed he never intended to become an entrepreneur, he simply wanted a job at Netscape in 1995. Speaking at Y Combinator 's AI Startup School in San Francisco this week, the billionaire shared how Marc Andreessen's browser company ignored his application, inadvertently launching one of history's most successful entrepreneurial careers. "I sent my resume into Netscape and nobody responded," Musk told Y Combinator CEO Garry Tan during the fireside chat. "So, I'm like man, this is ridiculous, so I'll just write software myself and see how it goes." The rejection forced Musk to drop out of Stanford 's PhD program and pivot to building his own company. Despite holding physics and business degrees from Wharton and pursuing graduate studies in applied physics, his lack of computer science credentials apparently didn't impress Netscape's hiring team. From rejection to riches: The $300 million outcome by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo That "see what happens" mindset led to Zip2, Musk's first startup, which he built while sleeping in the office and showering at the YMCA. The company sold for $300 million in 1999, with Musk earning $20 million, money he immediately reinvested into his next venture, "I kept the chips on the table," Musk explained, describing his decision to risk everything on subsequent ventures rather than playing it safe. Back to the 'main quest' after political detour Now worth $366 billion according to Bloomberg's Billionaire Index, Musk reflected on his recent involvement with government efficiency initiatives as a "side quest." He emphasized his return to technology development as his "main quest," noting the contrast between engineering's demand for truth and politics' inherent noise. The Tesla founder, whose companies now include SpaceX (valued at $350 billion) and xAI , offered simple advice to aspiring entrepreneurs: "Try to be as useful as possible! You do whatever it takes to succeed!"
Business Insider
18 hours ago
- Business
- Business Insider
'Keep AI on the leash' because it's far from perfect, says OpenAI's cofounder Andrej Karpathy
Andrej Karpathy thinks we're getting way too excited about AI, especially when it comes to deploying agents that act without supervision. In a keynote at an event hosted by Y Combinator earlier this week, the computer scientist said people need to "keep AI on the leash." The OpenAI cofounder said current large language models still make mistakes no human ever would. Karpathy likened LLMs to "people spirits" — uncanny simulations of human intelligence that hallucinate facts, lack self-knowledge, and suffer from "amnesia." "They will insist that 9.11 is greater than 9.9 or that there are two R's in 'strawberry,'" Karpathy said in a talk published on Y Combinator's YouTube channel on Thursday. "They're going to be superhuman in some problem-solving domains and then they're going to make mistakes that basically no human will make." Even though LLMs can churn out 10,000 lines of code in seconds, he said, that doesn't mean developers should sit back and let them run wild. "I'm still the bottleneck," he said. "I have to make sure this thing isn't introducing bugs." "It gets way too overreactive," he added. Karparthy urged developers to slow down and write more concrete prompts. "I always go in small incremental chunks. I want to make sure that everything is good," he said. "It makes a lot more sense to spend a bit more time to be more concrete in your prompts, which increases the probability of successful verification, and you can move forward," he added. Karparthy did not respond to a request for comment from Business Insider. The OpenAI cofounder coined the term "vibe coding" in February to describe the process of prompting AI to write code. The idea, he said, is that developers can "fully give in to the vibes" and "forget the code even exists." AI still needs supervision Karpathy isn't the only one urging caution. Bob McGrew, OpenAI's former head of research, said on an episode of Sequoia Capital's "Training Data" podcast earlier this week that human engineers are still essential — not just to guide AI, but to step in when things get messy. When something goes wrong or if a project "becomes too complicated for AI to understand," a human engineer can help break the problem down into parts for an AI to solve. AI agents are like "genies," said Kent Beck, one of the authors of the seminal "Agile Manifesto" — they'll often grant your wish, but not always in the way you'd like them to. "They will not do what you mean. They have their own agenda," Beck said on a recent episode of " The Pragmatic Engineer" podcast. "And the best analogy I could find is a genie. It grants you wishes, and then you wish for something, and then you get it, but it's not what you actually wanted." Beck also said results are so inconsistent that using AI to code can sometimes feel like gambling. Despite the nascent tech's limitations, even the biggest tech companies are betting on AI for the future of coding. AI writes more than 30% of Alphabet's new code, up from 25% last year, said CEO Sundar Pichai on the company's most recent earnings call.
