Oliver Hsu

Proud to announce that Copec WIND Ventures has invested in FieldAI as part of the company’s $405M fundraise, supporting a major step forward in Physical AI. Field AI is building a new class of physics-first AI foundational models—the Field Foundational Models (FFM) - designed specifically for autonomous robots operating in the real world. FFMs enable safe, reliable, hardware-agnostic autonomy, allowing robots to generalize across environments, tasks, and platforms. We’re excited to back an exceptional team with backgrounds from Google DeepMind, NASA Jet Propulsion Laboratory, Google Brain, Defense Advanced Research Projects Agency (DARPA), and SpaceX, and to invest alongside leading firms including Bezos Expeditions, Khosla Ventures, Temasek, Canaan Partners, Prysm Capital, and nVentures. The next wave of AI will be embodied - and Field AI is helping define it.

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Very excited about our investment in Positron AI through Palo Alto Growth Capital. Having invested in AI infrastructure companies including Groq and Cerebras Systems, I have had the opportunity to watch how this market develops over multiple technology cycles. What makes Positron AI particularly remarkable to me is the speed. In roughly 3 years from inception, Positron AI has reached a level of revenue that took some of our prior successful portfolio companies approximately eight to nine years to reach. That is an extraordinary pace of commercialization and a strong signal of how quickly the AI inference market is developing. Congratulations to Mitesh Agrawal and the entire Positron AI team on the $875 million Series C. I am excited that Palo Alto Growth Capital participated directly in this round and very much looking forward to the next chapter. #ArtificialIntelligence #AIInfrastructure #AIInference #Semiconductors #VentureCapital

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VC investment in robotics and physical AI has increased from $4.2B in 2019 to $26B in 2025 — and $23B has already been invested in just the first five months of 2026. The Wall Street Journal recently highlighted what we've seen for years — the great rotation back to atoms. For much of Silicon Valley, this is a pivot. For Prime Movers Lab, it has been the thesis since 2018. We've spent the last eight years building conviction—and a portfolio—in the companies the rest of the market is now racing to find: Figure, E-Space, Commonwealth Fusion Systems, Hark, Gilgamesh Pharma, Tarana Wireless, Focused Energy and many more tackling the hard, important problems across energy, transportation, manufacturing, human augmentation, agriculture, and infrastructure. We welcome the company. The Great Transformation is finally arriving in capital flows. Read more in WSJ: https://on.wsj.com/4x9LmKw

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Congratulations to Mitesh Agrawal, Thomas Sohmers, and the entire Positron AI team on their fundraise! When DFJ Growth co-led the Series A, what excited us was the opportunity to rethink hardware for AI inference: an architecture built around the memory bottlenecks that constrain performance, with the potential to make running models substantially faster, cheaper, and more energy efficient. A big part of the bet was on the team. They were operating at lightning fast timelines, and over the past year we have had a front row seat to their relentless execution. Their drive and ambitious engineering goals have translated into real customer deployments. The inference wave is here and we believe the next generation of specialized chips will enable the future of agentic applications. Proud to continue backing Positron on the next chapter. Supported by New Enterprise Associates (NEA) Atreides Management, LP Valor Equity Partners Andra Dylan Patel SemiAnalysis Resilience Reserve 1517 Fund Flume Ventures + many others Randy Glein Maxim Sirenko Brian Akin

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Our Investor Open House brought together VCs, sponsors, and industry leaders to showcase 20+ robotics startups from wearable tech and autonomous systems to AI manufacturing and agtech. Robotics is transforming industries from the factory floor to the farm field. Thank you to everyone who joined us. 🙌 Thanks for joining us: Able Innovations | Apparel Robotics | Ava Robotics| Black-I Robotics, Inc. | Braid Robotics | Dephy, Inc. | Flexxbotics Inc. | Gaia AI | General Robotics - Actuators | LabyrinthAI | Luminous | MagLev Aero | MVP Robotics, Inc.| Nexterity, Inc. | Onyx Robotics | Ras Labs, Inc. | Resix | Revolute Robotics | Rowbot Systems | Scalable Robotics | SmartDrone | Synthium | TP7 AI Robotics | untill | Whelix 🔗 Learn more about MassRobotics residents here: https://lnkd.in/gpAGJaQH #Robotics #DemoDay #Startups #VentureCapital #Innovation #MassRobotics #DeepTech

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SF VC Takeaway #2: Pricing expectations, performance bars, and what’s actually getting funded. One theme that came up repeatedly in SF was how far pricing expectations and performance bars have shifted, even compared to just a few years ago. A few things investors kept anchoring to: 1️⃣ Median Series A valuations are higher than their 2021 peaks, but fewer of them are getting done. 2️⃣ Capital is being concentrated into fewer and fewer companies (and lots of capital!) 3️⃣ “Good” progress is no longer enough and the bar for standout performance has moved in an AI-native world So what does “top performance” mean right now? One investor told me that top quartile seed companies in their portfolio are going from $0 to $2M in ARR in <12 months. Outside of pure traction numbers, a few other themes that came up to describe "top performance": 📈 Explosive early revenue ramps (or a very credible path to them) 📊 Strong velocity and momentum for 2 quarters in a row, even if the baseline is small. 🚀 Clear signals of category leadership, not just product-market fit. Sometimes shown by either domain expertise, speed of product optimization, or by lack of competition in the category. This creates a counterintuitive dynamic where it can be easier to fund a company with strong pedigrees in a hot space and no traction yet than a company that went from 0 to $1M ARR at what used to be considered a rapid pace. Pricing today is driven by trajectories, not moments in time. We used to say investors invest in lines not points; I think that's more true than ever now because crossing certain milestones doesn't carry as much influence as it once did. Finally, investors still say that valuation matters, but many of them are acting differently. Pace and belief in category-defining companies really sets the price; while slower growth gets scrutinized rather than discounted. One silver lining in the camp of durable growth: Series A rounds are happening so fast that many companies don’t yet have meaningful history of retention data. Large bets are being made on velocity before the durability is proven. Several investors told me the same thing: we may soon swing back to a market where retention, not growth, becomes the defining metric. Let's hope so. I'll share my third SF VC takeaway tomorrow!

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I've looked at a lot of YC batches. The bio and health lineup in P26 is STACKED. https://lnkd.in/gQKxpe9t Adialante - Compact, mobile whole-body MRI to make cancer screening accessible at hundreds per scan FinalDose - A programmable drug that reads DNA inside the cell and destroys it if it's diseased, starting with previously undruggable cancer targets Voquill (YC P26) - An AI coworker for pathologists that learns your reporting style and produces sign-out ready reports in real time Clara - An AI primary care doctor with a licensed clinician reviewing every medical decision Lumius (YC P26) - Affordable, real-time 3D ultrasound, starting with vascular access

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A big milestone today for Grow Therapy, which just announced a $150M Series D led by TCV and Growth Equity at Goldman Sachs Alternatives, with BCI and Menlo Ventures joining Sequoia, Transformation Capital, and SignalFire. When we led Grow’s Series A in 2021, it was rooted in a belief that mental health access in the U.S. isn’t hindered by supply, it’s a systems problem. To win, Grow needed to be deeply integrated into the healthcare ecosystem, not operating as a point solution. In just 5 years, more than 2 million people have used Grow, with over 10 million therapy and medication management visits delivered on the platform. What stands out is the infrastructure the team has built: Grow now partners with 125+ health insurers, including Medicare and Medicaid across most states, reaching 220 million covered lives. At the same time, tools like its clinically-guided AI notetaker are reducing provider documentation time by nearly 70%, helping clinicians focus more on care. This is what durable healthtech looks like: deep payer integrations, measurable outcomes, and technology embedded directly into existing healthcare workflows. Excited to continue partnering with Jake Cooper, Manoj Kanagaraj, MD, Alan Ni, and the entire Grow team as they build trusted mental health infrastructure for insurers, employers, health systems, and most importantly, patients.

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There are few VCs who have the barbell experience of having analyzed both public tech companies & invested at the inception stage. It's like having a college professor who's also a kindergarten teacher. Our partner Elizabeth Harrow is such a unicorn. You can see why that's so useful in understanding what's going on today in her conversation with Clare O'Connor at Investor's Business Daily ... cc SHAKTI

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