Starting an AI company is a challenge in itself. But securing one of the largest seed rounds of the year—without even launching a product—is a whole different ballgame. In this episode of Build Mode, host and Startup Battlefield lead Isabelle Johannessen talks with Andrew Dai, founder and CEO of Elorian and a former Google DeepMind researcher. They explore how his company raised $55 million in seed funding at a $300 million valuation before generating any revenue or releasing a product.

Andrew reveals what investors saw in Elorian’s vision for visual AI, how he approached fundraising after leaving Google DeepMind, and why choosing the right partners mattered more than chasing a higher 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.

The conversation covers a wide range of topics, including how Elorian secured its massive seed round, why visual AI is poised to be the next major frontier in artificial intelligence, and what investors look for when backing frontier AI startups. Andrew explains why the highest valuation isn’t always the best outcome, how to pitch highly technical products to nontechnical investors, and what founders should prioritize when choosing venture capital partners.

Other highlights include strategies for hiring top AI talent away from Big Tech, the importance of speed in today’s AI race, and how founders can build defensible AI companies as the technology evolves. Andrew also shares his top advice for first-time founders raising venture capital. Watch the full episode on YouTube, subscribe to Build Mode on Apple Podcasts, Spotify, or wherever you like to listen, and catch new episodes every Thursday.