## Family Office to Billionaire Murthy Warns on Startup Valuations

The family office of tech billionaire Narayana Murthy is growing cautious on startups in India, pointing to steep discounts driven by funds that need to exit their investments.

Middling startups struggling with growth that don't have a clear path to profitability or aren't making much progress are being sold at discounts of 30-40%, **Deepak Padaki**, president of [Catamaran Ventures LLP](https://www.bloomberg.com/quote/9006409Z:IN) said in an interview.

![Deepak Padaki](Source: Catamaran Ventures)

The family office of tech billionaire Narayana Murthy is growing cautious on startups in India, pointing to steep discounts driven by funds that need to exit their investments.

Billionaire's Family Office Sounds Alarm on India's Startup Bubble: Are Valuations Crashing?

# Brian Chesky's Unconventional Leadership at Airbnb

Despite leading a globally recognized company valued at **$79 billion** with approximately **7,300 employees**, Airbnb CEO **Brian Chesky** continues to manage the organization with a startup mentality. He remains deeply involved in personnel decisions for around 50 employees, treating them as his direct reports.

## Hands-On Management Approach

Chesky emphasizes skipping levels in the hierarchy to co-hire, fire, promote, and manage employees directly. On the *Social Radars* podcast, he stated, "I treat them all as my directs. I skip level, I co-hire them, and I make decisions on whether or not they're working out and leave the company... Like, hire, fire, promote, and manage." He acknowledges this is intensive but necessary, arguing against conventional advice that CEOs should delegate to a top-tier executive team.

## Rationale for Founder Mode

Chesky believes this approach keeps him close to the vision and the people doing the work, ensuring the executive team's effectiveness. He asserts that the founder's role is to set the vision, pace, and shape of the company daily. This philosophy, termed "**founder mode**" by Paul Graham after a Y Combinator event in 2024, stems from Chesky's past mistakes when he delegated too much, leading to poor outcomes.

## Adaptation in the Age of AI

Chesky links founder mode to the need for agility in the era of **artificial intelligence**, arguing that large, professionally managed companies struggle to adapt quickly. He advocates for a nimble hierarchy to thrive in a rapidly changing landscape.

## Origins and Wider Influence

The shift to founder mode was catalyzed by the **COVID-19 pandemic**, which disrupted Airbnb's IPO plans and caused a 72% revenue decline, forcing layoffs of 25% of staff. Advice from Apple's former design chief Jony Ive and inspiration from Steve Jobs' playbook led Chesky to remove management layers. Other leaders, like Duolingo's CEO Luis von Ahn, have adopted similar strategies, emphasizing broad oversight in their companies.

Despite having a massive org chart, the Airbnb CEO Brian Chesky runs his company like he’s just got started.

How Airbnb's CEO Defies Conventional Wisdom by Staying in Founder Mode to Drive a $79B Giant

## The Countdown Begins

**Set your alarms and bookmark this page** – the moment you've been waiting for is almost here. After reviewing thousands of groundbreaking applications from around the globe, TechCrunch is on the verge of announcing the **2025 Startup Battlefield 200**. This handpicked cohort represents the most promising early-stage startups set to take the stage at **TechCrunch Disrupt 2025** from October 27-29.

### Key Details and How to Watch

The full list will go live on **Wednesday, August 27, at 9:00 a.m. PT**, right here on this page. Whether you applied, referred a standout founder, or simply want to see who made the cut, this is your chance to discover potential rivals, investments, and the next big names in tech.

### A Legacy of Innovation

This October marks the 20th anniversary of **TechCrunch Disrupt**, an event that has shaped the startup world for two decades. Iconic companies like **Dropbox, Cloudflare, Fitbit, and Discord** got their start in the Startup Battlefield, and this year promises to birth the next generation of breakout companies.

To witness these rising stars pitch live, hear from top-tier founders and investors, and network with tech leaders, grab your ticket to **Disrupt 2025** in San Francisco.

### Highlights from Last Year

In 2024, **Salva Health** won the competition with its portable device for early breast cancer detection, particularly benefiting rural populations. Relive their victory through the embedded video or explore their journey in detailed articles and podcast interviews.

![Startup Battlefield 200 presented by Google Cloud](https://techcrunch.com/wp-content/uploads/2025/08/SUB200-GC-mock.png?w=680)

Out of 200 startups, the **Top 20 finalists** were selected for their disruptive innovations, with runner-up **geCKo Materials** making waves in adhesive technology.

### What to Expect This Year

The 2025 Top 20 finalists will be revealed on Day 1 of Disrupt 2025 (October 27), where they'll compete live for a **$100,000 prize and the Disrupt Cup**. Don't miss out – get your tickets now to be part of the action.

*Startup Battlefield is proudly presented by Google Cloud, our premier sponsor.*

We'll be sharing the full list of the potential Startup Battlefield victors right here, on this page, August 27 at 9am PT. Stay tuned!

Unveiling the 2025 Startup Battlefield 200: Meet the Next Generation of Tech Disruptors

## Eyebot Secures $20M to Expand Vision Care Access

**Eyebot**, a startup offering a **90-second vision test kiosk** that delivers doctor-verified glasses prescriptions, has secured $20 million in Series A funding. This brings the Boston-based company's total funding to over $30 million.

Founded in 2021, Eyebot aims to streamline vision care by eliminating traditional obstacles like appointment delays, limited accessibility, complex insurance requirements, and high costs. Its kiosks are already deployed in malls, universities, retail stores, pharmacies, grocery chains, schools, and airports, providing a **free, 90-second vision test**. Each test generates a prescription that is reviewed and approved by licensed eye doctors, ensuring fast, convenient, and reliable results.

Since raising its seed round in June 2024, Eyebot has conducted more than 45,000 free vision tests and is on track to deliver over half a million annually. Matthias Hofmann, co-founder and CEO, highlighted the dramatic shift: "We've gone from piloting to partnering with some of the largest companies in the U.S., launching kiosks all over the country, and delivering tens of thousands of vision tests. Revenue is scaling, and our team has doubled in size. Most importantly, we've proven the model works: people are using Eyebot, doctors are validating the results, and retailers are excited about the traffic it drives."

What sets Eyebot apart is its combination of **convenience and medical assurance**. Every test is reviewed by a doctor, and all prescriptions are issued under clinical supervision. If results indicate anything unusual, patients are referred for in-person, comprehensive exams. This balance of speed and oversight builds trust, with Hofmann noting surprising uptake from parents with kids in mall locations.

Initially, there was skepticism from traditional eye care providers and patients regarding accuracy and reliability. However, hesitancy eased once it was understood that experienced doctors, many with over a decade of experience, review every result.

Eyebot is in the early phases of commercialization. The vision test is free to consumers, and if a prescription is needed, it is verified by a doctor for a fee. The company also leases kiosks to optical retailers, eyewear brands, and independent practices.

With the Series A funding, led by General Catalyst with participation from returning investors like AlleyCorp, Baukunst, Village Global, Humba Venture, Ravelin, and Ubiquity Ventures, Eyebot plans to scale kiosk deployment and expand its team across product, clinical operations, and commercial growth.

This vision care startup secures $20M Series A for 90-second prescription kiosk.

Eyebot's $20M Series A Revolutionizes Eye Care with 90-Second Prescription Kiosks

# Okta Acquires Israeli Cyber Startup Axiom in $100 Million Deal

![Axiom founders](https://pic1.calcalist.co.il/picserver3/crop_images/2025/08/26/SyQx2mjFgx/SyQx2mjFgx_0_0_3000_1996_0_large.jpg)
*Photo: Yarin Taranos*

Cybersecurity giant **Okta** has acquired Israeli startup **Axiom** in a deal estimated at around **$100 million**. While the exact purchase price wasn't disclosed, this acquisition significantly strengthens Okta's Israel-based R&D hub, which was established after its purchase of Spera in December 2023. Okta, currently valued at approximately $16 billion, is expanding its cloud-based identity and permissions management capabilities through this strategic move.

## Founders and Funding Journey

Axiom was founded in 2021 by **Itay Mesika** and **Ilan Dardik**, who first met during their military service in the Israeli air force in 2013. Both founders brought extensive industry experience from roles in fintech and infrastructure companies. Since its inception, Axiom raised $10 million, including a $7 million Seed round in December 2022 led by **S Capital**. This round attracted notable cybersecurity investors such as Srinath Kuruvadi (Head of Cloud Security at Netflix), Nadir Izrael and Yevgeny Dibrov (founders of Armis), Slavik Markovich, Rishi Bhargava, Dan Sarel, and Guy Rinat (founders of Demisto), and Ofer Smadari (co-founder and CEO of Torq). An additional $3 million was raised later but not publicly announced.

## Technology and Vision

Axiom specializes in an **identity-based approach to Permissions and Access Management (PAM)**, tailored for cloud, SaaS, databases, containers, and other virtual environments. Its platform helps organizations implement **Least Privilege principles**, replace permanent permissions with **Just-in-Time (JIT) access**, and protect critical infrastructure without creating operational bottlenecks. The company's vision aligns with Okta's mission to lead the identity management market, emphasizing secure access by default without compromising productivity.

## Client Base and Impact

Axiom serves dozens of global clients, including **Minute Media, Navan, BPP, Varonis, and Orca Security**. Its **IAMOps platform** automates the management of cloud and SaaS identities, enabling security teams to maintain minimum permissions at scale, reduce operational burdens, and minimize friction for end users. This acquisition not only enhances Okta's offerings but also integrates Axiom's employees into Okta's growing Israel development center, fostering innovation in cybersecurity.

Acquisition strengthens Okta’s Israel R&amp;D hub and expands its cloud-based identity and permissions management capabilities.

Okta's $100M Acquisition of Axiom: A Game-Changer in Cybersecurity and Identity Management

# **Splight Raises $12.4 Million to Supercharge U.S. Expansion with Dynamic Grid Software**

![Grid technology image](https://i0.wp.com/www.latitudemedia.com/wp-content/uploads/2025/08/Latitude-1920px-32-Image-2025-08-25T220750.948.jpg?fit=1024%2C683&ssl=1)
*Photo credit: Amy Johansson / Shutterstock*

In an era where maximizing the existing power grid is crucial, **dynamic line rating (DLR)** technologies have seen a significant surge. These systems use real-time temperature and weather data to safely increase electricity flow on transmission lines by up to 30%, avoiding the need for costly new infrastructure.

Enter **Splight**, a San Francisco-based startup that's taking this concept further with its **dynamic congestion management (DCM)** software. Unlike traditional DLR solutions that rely on hardware sensors, Splight's approach leverages **machine learning algorithms** to dynamically manage grid congestion, promising to **double the capacity** of existing power lines without additional hardware.

Exclusively, Splight has secured a **$12.4 million investment** to fund its commercial expansion into the U.S. and Europe. This funding, provided through a simple agreement for future equity, will support the growth of their North American and European offices.

Fernando Llaver, CEO of Splight, explains that their technology tests the grid every millisecond, ingesting real-time data to turn fast-responding assets like batteries or data centers into sources of grid robustness. "DLR could be a feature of DCM, but it's not a finished product," Llaver told Latitude Media. "To deliver more transmission, you need control capabilities."

Since its launch four years ago, Splight has experienced rapid growth, with its order book doubling or tripling annually. Initially focused on Latin America, Spain, and Portugal, the company has also deployed its technology on a small scale in Texas and the Midwestern U.S. grids.

Carolin Funk, a partner at Blue Bear Capital, which led the investment round, highlighted Splight's impressive real-life experience and software-only approach. "A lot of DLR solutions need sensors and more hardware installed," Funk said. "Splight shows how to do more with less."

This trend away from hardware-intensive solutions is gaining momentum. For instance, Gridraven, another startup, uses AI and weather forecasting to enhance grid capacity without sensors, as noted in a recent opinion piece by its CEO.

However, Splight's DCM system operates differently, functioning more as a control mechanism than a monitoring tool. With this new funding, Splight aims to scale its unique offering commercially. "We're still alone in this market," Llaver added, emphasizing their pioneering position.

Exclusive: The company’s dynamic congestion management software promises to double capacity on the existing grid.

Splight's $12.4M Funding Fuels Grid-Tech Revolution: Double Grid Capacity Without New Wires

The startup ecosystem in Central Eurasia is having its moment. What began as 485 applications from 27 countries has culminated in the largest startup pitch competition in the region's history.

**Road to Battlefield**, organized by Silkroad Innovation Hub in partnership with TechCrunch and Freedom Holding, is more than just a contest—it's a historic milestone that puts Central Eurasia on the global startup map. Asset Abdualiyev, CEO of Silkroad Innovation Hub, emphasized their mission to empower founders from underrepresented geographies.

Between July 21 and August 12, 380 startups pitched online in nine national rounds, totaling 32 hours of content. The competition showcased remarkable diversity, with 35% of startups founded by women and participants ranging from idea stage to pre-Series A.

Four standout startups have secured spots at TechCrunch Startup Battlefield 2025 in San Francisco:
- **Polygraf AI** (Azerbaijan and USA): Delivers locally deployed AI solutions for threat detection.
- **QuickShipper** (Georgia): A delivery gateway for retailers to manage in-house drivers and partners.
- **Surfaice** (Kazakhstan and USA): An AI-driven operating system for construction workflows.
- **ArtSkin** (Kyrgyzstan and Kazakhstan): Develops neurointerface technology for touch sensation in AR/VR and robotics.

A panel of 40 judges from 10 countries, including an AI judge named AI-Gerim, evaluated the pitches. The event featured startups across AI, edtech, health tech, fintech, and more, highlighting the region's innovation.

The competition has sparked cross-border collaboration, attracted international investors, and positioned Central Eurasia as a key player in the global tech scene. Ministers from Kazakhstan and Uzbekistan praised the initiative for boosting their ecosystems' global ambitions.

Supported by Freedom Holding Corp. and various innovation hubs, Road to Battlefield has created new pathways for regional startups to access international opportunities, with the winners now preparing for the global stage in October 2025.

The startup ecosystem in Central Eurasia is having its moment. What started as 485 applications from across 27 countries has culminated in the largest startup pitch competition in Central Eurasia's history.

Central Eurasia's Startup Revolution: Four Underdogs Win Historic TechCrunch Battlefield Slot

# Purdue Innovates: Empowering Innovators and Entrepreneurs

At Purdue University, innovation is more than just discovery—it's the launchpad for **bold startups** and **world-changing inventions**. Launched in April 2023 and enhanced in summer 2025, **Purdue Innovates** serves as a unified gateway for technology commercialization, startup incubation, and venture investment, supporting faculty, staff, students, and alumni in transforming ideas into impactful realities.

![Purdue Innovates Accelerator Cohort](https://www.purdue.edu/newsroom/wp-content/uploads/2025/08/purdue-innovates.jpg)
*The inaugural cohort of Purdue Innovates Accelerator at pitch night, featuring startups like REV Pharmaceuticals and Capturely.*

Purdue consistently ranks among the top global universities for commercialization, holding the **fourth position in the U.S.** for patents received, with 213 U.S. issued patents in recent years. This initiative has unified efforts across technology transfer, incubation, and investment, making it easier for Boilermakers to navigate the innovation ecosystem.

## Key Achievements and Highlights

Under Purdue Innovates, significant milestones include:
- Receiving over **$100 million** in royalties from the prostate cancer drug Pluvicto, developed by Philip Low.
- Eradivir, a biotech company, raising **$10.25 million** in Series A funding for its influenza therapeutic, reaching a potential audience of over 5 billion.
- Winning a patent infringement lawsuit against STMicroelectronics, resulting in **$32.5 million** in damages to protect intellectual property.
- The acquisition of Adranos Inc., a Purdue-originated startup, by defense technology company Anduril Industries.

## New Programs and Initiatives

Purdue Innovates has introduced several cornerstone programs to bolster support:
- **Purdue Innovates Accelerator**: A three-month, investment-based program helping founders turn visions into disruptive companies.
- **Commercialization Fellowship**: Offers recent PhD graduates and postdocs opportunities to advance IP commercialization through startups or licensing.
- **Low Institute for Therapeutics (LIFT)**: A new approach to market Purdue technologies, building on therapeutic commercialization successes.

![Low Institute for Therapeutics Announcement](https://www.purdue.edu/newsroom/wp-content/uploads/2025/08/low-liftannounce.jpg)
*Announcement of LIFT with key figures including Philip Low and President Mung Chiang.*

## Enhanced Funding and Support

The system provides various funding avenues:
- Student entrepreneurship programs like the **Moonshot Pitch Challenge** and **New Venture Challenge**, awarding over **$75,000** in prizes.
- The **Trask Innovation Fund** supports researchers with up to **$100,000** to bridge the 'valley of death' in innovation.
- Additional prototyping funds and industry collaborations through FusionPoint.

In fiscal year 2025, Purdue reported **161 licensing deals**, with 18 to faculty or student startups, and **269 technologies licensed**, showcasing global impact across 50 U.S. states and over 100 countries.

## Comprehensive Ecosystem Coverage

Purdue Innovates encompasses:
- **Office of Technology Commercialization**: A leading tech transfer program with technologies available at inventions.prf.org.
- **Incubator**: Support for early-stage startups with programs and services.
- **Ventures**: Investment and community activation for high-growth startups in sectors like agriculture, deep tech, and life sciences.

Collaborations extend to other Purdue programs, including entrepreneurship certificates, I-Corps, and various colleges, ensuring a robust support network.

![New Venture Challenge Pitch](https://www.purdue.edu/newsroom/wp-content/uploads/2025/08/newventure-pitch.jpg)
*Winners from the New Venture Challenge at the Purdue Innovates Startup & Technology Expo.*

Key partners like the Silicon Valley Boilermaker Innovation Group and High Alpha play vital roles in mentoring and funding startups, reinforcing Purdue's position as a hub for innovation.

WEST LAFAYETTE, Ind. — At Purdue, innovation doesn’t stop at discovery. It’s where big ideas ignite bold startups and world-changing inventions with excellence at scale. Launched in April 2023 and…

Billionaire's Family Office Sounds Alarm on India's Startup Bubble: Are Valuations Crashing?

Summary:

Family Office to Billionaire Murthy Warns on Startup Valuations

Comments

Subscribe our newsletter to receive our daily digested news

ListMyStartup.app

Other Latest News

How Airbnb's CEO Defies Conventional Wisdom by Staying in Founder Mode to Drive a $79B Giant

Unveiling the 2025 Startup Battlefield 200: Meet the Next Generation of Tech Disruptors

Eyebot's $20M Series A Revolutionizes Eye Care with 90-Second Prescription Kiosks

Okta's $100M Acquisition of Axiom: A Game-Changer in Cybersecurity and Identity Management

Splight's $12.4M Funding Fuels Grid-Tech Revolution: Double Grid Capacity Without New Wires

Central Eurasia's Startup Revolution: Four Underdogs Win Historic TechCrunch Battlefield Slot

Purdue Innovates: How a University is Fueling the Next Wave of Game-Changing Startups

Other Latest News

How Airbnb's CEO Defies Conventional Wisdom by Staying in Founder Mode to Drive a $79B Giant

Unveiling the 2025 Startup Battlefield 200: Meet the Next Generation of Tech Disruptors

Eyebot's $20M Series A Revolutionizes Eye Care with 90-Second Prescription Kiosks

Okta's $100M Acquisition of Axiom: A Game-Changer in Cybersecurity and Identity Management

Splight's $12.4M Funding Fuels Grid-Tech Revolution: Double Grid Capacity Without New Wires

Central Eurasia's Startup Revolution: Four Underdogs Win Historic TechCrunch Battlefield Slot

Purdue Innovates: How a University is Fueling the Next Wave of Game-Changing Startups