The VC market in 2025 is brutal - too difficult to raise a round.
So how do you actually raise your first round when all you have is a prototype and a dream?
🎙️ Guest: Vladimir Ivanov – Co-founder & CTO at Supplied (ex-Bolt)
From rolling out a pre-seed through EWOR (Europe’s Y Combinator) to closing deals in one of the toughest funding climates, we talk about what it really takes to start a company in 2025 - without hype, without virality, and without 30 engineers.
Key takeaways
Fundraising in 2025 is slower and leaner. Investors expect traction, not slides.
“Too early” is not a no. It means: show customers and traction, then raising will be easier.
AI replaces headcount, not execution. You can build a working product solo - if you understand what to build. However, you need capital to accelerate growth.
Boring markets win. Compliance and tax automation might not go viral, but they pay the bills.
EWOR experience. How to join, pitch, and stand out among the 0.1% accepted.
The 30% rule. Never let one client define your business.
Bootstrapping vs VC. When to take money and when to stay lean.
Chapters
00:00 From Bolt to Startup: The Journey Begins
04:16 Identifying Market Opportunities: The Birth of an Idea
09:17 First idea was a fail
14:47 First Sales
16:45 Leveraging Networking for Growth
18:43 Raising first money (EWOR)
22:55 Raising pre-seed
28:34 Should you apply to Accelerator/Incubator
29:57 How to be successful like Y Combinator ;)
32:01 The Role of AI in Startups
32:01 Raising Now vs Before
34:12 Do investors expect AI?
35:53 Hiring People or AI?
40:49 Why even raise if there is AI?
41:54 Plans after pre-seed raise
44:07 Why start a startup in 2025?
47:25 How to split responsibility between you and co-founder?
48:42 Good and Bad of building a startups?
51:36 Personal motivation
55:18 Maybe work for someone and build a side-project?
57:17 Great opportunity: go build something
59:05 Thoughts about product vision
Connect
Vladimir Ivanov — LinkedIn
Nikolay Roll — LinkedIn
Referenced
Supplied - startup of Vladimir
EWOR Accelerator – “The Y Combinator of Europe”
Bolt – Where the founding team met
DAC7 Regulation Overview – EU marketplace tax reporting
[TPG Article] “Why your company isn’t ready for AI yet”
