Tallinn Product Group Podcast

Raising in 2025 - From Prototype to Funding


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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 Begins04:16 Identifying Market Opportunities: The Birth of an Idea09:17 First idea was a fail14:47 First Sales16:45 Leveraging Networking for Growth18:43 Raising first money (EWOR)22:55 Raising pre-seed28:34 Should you apply to Accelerator/Incubator29:57 How to be successful like Y Combinator ;)32:01 The Role of AI in Startups32:01 Raising Now vs Before34:12 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 raise44:07 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 motivation55:18 Maybe work for someone and build a side-project?57:17 Great opportunity: go build something59:05 Thoughts about product vision

Connect

Vladimir Ivanov — LinkedInNikolay 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”



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Tallinn Product Group PodcastBy Tallinn Product Group(tpg.ee)