E97 [AI-Translated] SSUD | HSG Accelerator | Nvidia | Fundraising-Fehler | rrreefs | LimmaTech Exit | Visium | AVIAN

In this episode of Burn Rate – The VC Insider Podcast, Max Meister and Guy Giuffredi discuss the state of the Swiss ecosystem, Nvidia's role as an AI financier and the biggest fundraising mistakes founders make. In the news segment, they cover the Swiss Startup Days 2026 in Bern with 1,500 attendees and the question of how accessible the Swiss startup ecosystem really is. They then look at two new deep-tech investments from the HSG START Accelerator: Aithon Robotics and Surface Cleantech. Finally, they analyze Nvidia's massive venture engagement of USD 18.6 billion in a single quarter and whether it's smart ecosystem strategy or vendor financing. In the focus topic, they address a common fundraising problem: Many founders work extremely hard but don't make real progress. The reason: they confuse preparation with progress. Topics include why real market feedback matters more than the perfect pitch deck, how to structure fundraising as a sales process and why rejections can be the most valuable data points. Guest: Ulrike Pfreundt, Co-Founder and Co-CEO of rrreefs, a startup regenerating damaged coral reefs with 3D-printed reef structures. rrreefs is currently running an investment campaign on Oomnium. Rounded out by four deals of the week: LimmaTech Biologics (Exit to Eli Lilly, up to USD 780M) Visium (First institutional round after 8 years of bootstrapping) AVIAN (CHF 2M for industrial fire detection) An episode about ecosystem sentiment, venture discipline, fundraising reality and when Nvidia money is an advantage versus a dependency.