**If you've been waiting for the perfect moment to showcase your AI innovation, time is running out!** The deadline to secure an exhibit table at **TechCrunch Sessions: AI** is **May 23 at 11:59 p.m. PT**. This is your golden opportunity to position your brand among the brightest minds in AI at UC Berkeley’s Zellerbach Hall on June 5.

### Why Exhibit?

- **Direct access** to over **1,000 AI decision-makers**, including investors and innovators.
- **Showcase your startup** as a cutting-edge player in the AI industry.
- **Networking opportunities** with VCs, enterprise buyers, and press.

### What You Get

- A **6′ x 3′ exhibit space** with a branded tabletop sign.
- **5 event passes** for your team or guests.
- **Company logo** on the event website.
- **Wi-Fi, chairs, and lead capture tools** to streamline networking.

**Deadline:** Friday, May 23 at 11:59 p.m. PT

![TechCrunch Early Stage 2024 exhibitors](https://techcrunch.com/wp-content/uploads/2025/03/Early-Stage-Exhibit.jpg?w=680)

**Don't let this chance slip away.** [Reserve your table now](https://techcrunch.com/events/tc-sessions-ai/exhibit/?promo=post_exhibitorprogram_05082025&utm_campaign=tcsessionsai2025&utm_content=exhibit&utm_medium=post&utm_source=tc) and make a lasting impact in the AI community.

Last day to exhibit your startup at TechCrunch Sessions: AI is May 23. Showcase your brand to 1000+ AI leaders. Secure your table here.

Don't Miss Out: Final Chance to Showcase Your AI Startup at TechCrunch Sessions

**Abridge**, a pioneering AI health startup specializing in transcribing physician-patient conversations, is reportedly in advanced talks to secure hundreds of millions in funding at a staggering **$5 billion valuation**. This move underscores the growing investor confidence in **AI-driven healthcare solutions**.

### The Rise of AI in Healthcare
With its innovative software, Abridge has positioned itself at the forefront of the **healthtech revolution**, offering tools that streamline medical documentation and enhance patient care. The potential funding round highlights the sector's attractiveness to investors, especially in technologies that promise to **reduce administrative burdens** on healthcare professionals.

### Investor Interest Peaks
The discussions come at a time when **AI health startups** are drawing significant attention from the investment community, driven by the increasing demand for digital health solutions. Abridge's journey reflects the broader trend of **healthtech innovation**, where AI is playing a pivotal role in transforming traditional healthcare practices.

![AI Health Innovation](https://example.com/ai-health.jpg)

As the healthcare industry continues to evolve, startups like Abridge are leading the charge, proving that **technology and healthcare** are a powerful combination for improving patient outcomes and operational efficiency.

Abridge, a seven-year-old startup that sells artificial intelligence software for transcribing physicians’ conversations with patients, is in discussions with investors to raise hundreds of millions of dollars at around a $5 billion valuation before the investment, according to two people with ...

AI Health Startup Abridge Eyes $5B Valuation in Major Funding Round

**Builder.ai**, a British AI startup once backed by tech giant **Microsoft** and the **Qatar Investment Authority (QIA)**, is set to enter insolvency proceedings. This comes after the company admitted to overstating its sales figures to investors, marking a dramatic reversal of fortune for a firm that just two years ago secured a **$250 million funding round** led by QIA.

### The Fall from Grace
Builder.ai cited "historic challenges and past decisions" as the root causes of its financial strain. The company plans to appoint an administrator to oversee its affairs during the insolvency process. This development is particularly shocking given the startup's previous success in attracting high-profile investors, including Microsoft, which made an equity investment in 2023 as part of a strategic partnership.

### Investor Enthusiasm Meets Reality
The case highlights the **risks** associated with the rapid investment in AI startups, as investors scramble to find the next OpenAI or Anthropic. Builder.ai, based in London, had capitalized on the AI boom following the debut of ChatGPT, drawing significant interest and funding from major players.

### Financial Missteps Unveiled
Earlier this year, Builder.ai adjusted its sales figures downward and brought in auditors to review two years of accounts. The revisions led to a **25% reduction** in revenue estimates for the latter half of 2024. These adjustments followed the resignation of founder Sachin Dev Duggal as CEO in February, with Manpreet Ratia stepping into the role amidst a board reshuffle.

### Understanding Insolvency in the UK
Unlike US bankruptcies, UK insolvency proceedings involve a court-appointed administrator who works directly with creditors, sidelining current management. This process underscores the **legal and financial complexities** facing Builder.ai as it navigates its current challenges.

### Builder.ai's Legacy
Founded in 2016, Builder.ai made a name for itself with a platform that enabled businesses to develop custom smartphone apps with minimal coding, offering a quicker alternative to traditional software outsourcing. Despite its innovative approach, the company's journey serves as a cautionary tale about the **volatility** of the startup world and the importance of transparent financial practices.

Builder.ai, the British artificial intelligence startup backed by Microsoft Corp. and the Qatar Investment Authority, will file an insolvency case after overstating sales figures it provided investors.

Builder.ai's Stunning Downfall: From $250M Funding to Insolvency

## **Foundations: A Thriving Experiment in Seattle's Startup Scene**

**Foundations**, the Seattle-based startup community, is proving its model works by **doubling its physical space** in Capitol Hill and considering an expansion into Bellevue. This growth reflects the success of its unique approach to supporting early-stage founders without requiring equity or fees.

### **A Community Built on Experimentation**

Founded by entrepreneur **Aviel Ginzburg**, Foundations operates on the principle that **everything is an experiment**. With 236 members, including 55 founders-in-residence, the community offers a **lightweight accelerator program** designed to help startups reach critical milestones.

- **New Co-Working Space**: An additional 5,000 square feet will serve as a co-working office for members, addressing the demand for continued collaboration among "graduated" startups.
- **Diverse Membership**: From napkin-sketch ideas to seed-funded ventures, Foundations welcomes founders at all stages, fostering a rich, supportive ecosystem.

### **Why Foundations Stands Out**

- **No Equity or Fees**: Unlike traditional accelerators, Foundations supports founders without financial strings attached.
- **Community-Driven**: Members like **MediScan CEO Kavian Mojabe** and **EloraHQ CEO Shawn Ramirez** highlight the **honest, engaged support** that sets Foundations apart.
- **Benefit Corporation**: Operating as a **benefit corporation**, Foundations balances profit with public good, reinvesting in the startup community.

### **The Future of Foundations**

With plans to expand into Bellevue and potential partnerships with commercial real estate firms, Foundations aims to **scale its impact** while maintaining its mission: **"to make Seattle a better place to be a founder."**

![Inside the Foundations space in Seattle’s Capitol Hill neighborhood.](https://cdn.geekwire.com/wp-content/uploads/2025/05/IMG_4736-630x473.jpg)

**Aviel Ginzburg** accepts the **"Geeks Give Back" award** at the GeekWire Awards, underscoring the community's recognition and impact.

### **Filling the Gap Left by Techstars**

Foundations is stepping up as a key player in Seattle's startup scene, especially after **Techstars Seattle's departure**. Alongside other local incubators like **Pioneer Square Labs** and the **AI2 Incubator**, Foundations is **redefining support for early-stage founders**.

Inside the Foundations space in Seattle's Capitol Hill neighborhood. (Foundations Photo) The experiment seems to be working. Foundations, the

Seattle's Foundations Startup Hub Expands: Doubling Space and Eyeing Bellevue for Growth

**UK-based AI startup Builder.ai**, once a darling of the tech world with backing from **Microsoft, Insight Partners, and Qatar’s sovereign wealth fund**, is now entering insolvency proceedings. This shocking development comes just months after the company replaced its CEO and restated its financial accounts, as reported by the Financial Times.

### **The Rise and Fall of a Unicorn**
Builder.ai, which leveraged AI to help clients build customized apps, had raised an impressive **$445 million since its inception in 2012**. The company's valuation soared, especially after a **$250 million funding round in May 2023**, riding the wave of the AI boom post-ChatGPT's release.

### **Financial Struggles Come to Light**
Employees were blindsided by the news of serious financial difficulties during a company-wide call. The main unit, **Engineer.ai Corporation**, will appoint an administrator to manage its affairs, marking a stark downturn for the once-hyped startup.

### **Leadership and Financial Missteps**
The so-called "chief wizard" and founder, **Sachin Dev Duggal**, stepped down from his CEO role in February, followed by his resignation as a director from the UK entity. Subsequent reports revealed reliance on an auditor with close ties to Duggal and admitted "problems" under past leadership, leading to a downward revision of 2023 revenues to **$140 million**.

This story serves as a **cautionary tale** about the volatile nature of startup success, even with heavyweight backers and cutting-edge technology.

The FT reports that the once-hyped AI company plans to appoint an administrator

Builder.ai, Microsoft-Backed AI Unicorn, Faces Insolvency: A Cautionary Tale of Startup Hype

**Slash**, a neo-bank startup founded by two Gen Z college dropouts, Victor Cardenas and Kevin Bai, has successfully pivoted from its original niche targeting sneaker resellers to offering **bespoke banking services** for various industries, securing a **$41 million Series B round** at a **$370 million valuation** led by Goodwater Capital.

### The Pivot That Saved Slash
Originally, Slash provided banking services to sneaker resellers, a market that collapsed overnight following **Kanye West's anti-Semitic rants**, which led Adidas to sever ties with the rapper, devastating the Yeezy resale market. This event caused Slash's revenue to drop by **80%**, forcing the founders to rethink their strategy.

### Vertical Banking: A New Approach
Instead of competing directly with fintech giants like **Ramp and Mercury**, Slash adopted a **vertical software approach**, tailoring its services to specific industries such as **performance marketing agencies, crypto firms, and HVAC operators**. This strategy has proven successful, with Slash now processing **$300 million monthly** through its cards.

### Key Features and Future Plans
- **Performance Marketing**: Slash allows firms to create distinct accounts for each client, providing visibility into metrics like prepayment balances. Over **1% of all Facebook ads** are now purchased using Slash-issued cards.
- **Crypto Services**: Slash enables businesses to swap between fiat and crypto, managing various crypto holdings—a critical service as traditional banks shy away from crypto under the Biden administration.
- **Expansion**: With **35 employees**, Slash plans to enter new sectors like **e-commerce, online travel, and property management**.

### The Fintech Landscape
Slash's success comes amid a booming fintech sector, with peers like **Plaid and Ramp** securing significant funding and companies like **Chime and Circle** preparing for IPOs. Slash's partnership with **Column**, a chartered bank designed for tech firms, has been instrumental in its growth.

**Victor Cardenas** envisions Slash becoming **one of the largest commercial credit card issuers** in the U.S. by solving niche financial workflows across industries.

The Slash founders pivoted after Kanye West’s rants blew up the startup’s original niche aimed at sneaker sellers.

How Two Gen Z Dropouts Pivoted Their Startup to Raise $41M in Vertical Banking Revolution

## The Energy Dilemma in AI

The AI boom has brought with it an insatiable appetite for electricity, primarily due to the massive energy demands of data centers packed with graphics processing units (GPUs). **Microsoft** has even taken the drastic step of restarting a nuclear reactor at **Three Mile Island** to power its AI data centers. The **International Energy Agency** predicts that by 2030, data centers will consume about 3% of global energy, equivalent to Japan's current usage, with AI workloads quadrupling in the next five years.

## The Birth of Vaire

In 2021, serial entrepreneur **Rodolfo Rosini** co-founded **Vaire** with the goal of tackling AI's energy crisis through **reversible computing**. Alongside **Hannah Earley** and **Andrew Sloss**, Rosini spent three years in stealth mode, perfecting their chip design with $500,000 in seed funding. The company has since raised $10 million and employs 20 people across offices in London, Cambridge, Sunnyvale, and Portland.

## How Reversible Computing Works

Traditional chips lose almost all their energy as heat when overwriting information. **Reversible computing** conserves energy by restoring information to its original state, a concept known since the 1960s but only recently made feasible. Vaire's design combines analog resonators with digital components, creating a chip that operates more slowly but compensates with parallel processing cores, ideal for AI's matrix multiplications and convolutions.

## The Road Ahead

Vaire's initial tests show a **50% energy savings** in simulations, though physical chips are still under evaluation. If successful, this could spark a new race in chip design, much like **SpaceX** did with reusable rockets. Despite challenges, the growing concern over AI's environmental impact makes this the perfect moment for such innovation.

Vaire claims progress on technology that experts say could be the key to curbing AI's hunger for electricity

Revolutionary Reversible Computing Chip Cuts AI Energy Use by 50% - A Game Changer for the Industry

**Headline Asia**, a Tokyo- and Taipei-based venture capital firm, has successfully closed its **Headline Asia Fund V** at **$145 million**, marking one of its largest funds to date. This fund is set to invest in **tech startups** across the **Asia-Pacific** region, focusing on **Japan, Taiwan, and Southeast Asia**, with selective investments in **South Korea**. The fund targets early-stage startups, from **seed to Series A**, with check sizes ranging from **$1 million to $5 million**, in sectors like **e-commerce, logistics, fintech, IP, and AI**.

### **Funding Landscape in Asia-Pacific**
Despite the current economic uncertainties and geopolitical challenges leading to a **tightened funding environment**, Headline Asia's latest fund signifies a strong belief in the potential of **early-stage startups** in the region. Akio Tanaka, a co-founder and partner at Headline Asia, describes the VC market as going through a **"cyclical winter"**, characterized by high interest rates and cautious LP sentiment. Yet, Headline Asia sees this as an opportunity to invest in **high-growth, high-risk tech startups** that others might shy away from.

### **Investment Focus and Portfolio**
The fund has already invested in **17 companies**, including:
- **Newmo**: A Japanese taxi and ride-sharing startup.
- **Jenfi**: A Singapore-based company providing revenue-based financing for digital businesses.
- **Pi-xcels**: A Tokyo- and Singapore-based startup delivering NFC-enabled tech for merchants.

### **Backers and Global Network**
Backers of the fund include **Japan Investment Corporation (JIC)**, the **National Development Fund of Taiwan (NDF)**, and **Korea Venture Investment Corporation (KVIC)**. Headline Asia is part of the **Headline global network**, with regional offices in the U.S., Europe, and Latin America, managing approximately **$4 billion in assets**.

### **Opportunities in Japan**
Tanaka highlights **Japan** as a particularly exciting market, noting a shift from local-focused startups to those with **global ambitions**. This aligns with Headline Asia's interest in supporting **Asian startups going global**, whether they're from Japan, Southeast Asia, or North Asia.

### **Recent VC Fundraises in Asia**
Headline Asia's fund closure follows other significant fundraises in the region, such as **Antler's $72 million Southeast Asia fund** and **MindWorks Capital's $220 million Pan-Asia fund**.

Headline Asia has closed a new $145 million fund to fuel investments in Asia-Pacific.

Don't Miss Out: Final Chance to Showcase Your AI Startup at TechCrunch Sessions

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Other Latest News

AI Health Startup Abridge Eyes $5B Valuation in Major Funding Round

Builder.ai's Stunning Downfall: From $250M Funding to Insolvency

Seattle's Foundations Startup Hub Expands: Doubling Space and Eyeing Bellevue for Growth

Builder.ai, Microsoft-Backed AI Unicorn, Faces Insolvency: A Cautionary Tale of Startup Hype

How Two Gen Z Dropouts Pivoted Their Startup to Raise $41M in Vertical Banking Revolution

Revolutionary Reversible Computing Chip Cuts AI Energy Use by 50% - A Game Changer for the Industry

Headline Asia Secures $145M Fund to Boost Tech Startups Across Asia-Pacific Amid Funding Winter

Other Latest News

AI Health Startup Abridge Eyes $5B Valuation in Major Funding Round

Builder.ai's Stunning Downfall: From $250M Funding to Insolvency

Seattle's Foundations Startup Hub Expands: Doubling Space and Eyeing Bellevue for Growth

Builder.ai, Microsoft-Backed AI Unicorn, Faces Insolvency: A Cautionary Tale of Startup Hype

How Two Gen Z Dropouts Pivoted Their Startup to Raise $41M in Vertical Banking Revolution

Revolutionary Reversible Computing Chip Cuts AI Energy Use by 50% - A Game Changer for the Industry

Headline Asia Secures $145M Fund to Boost Tech Startups Across Asia-Pacific Amid Funding Winter