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July 1, 2026

Why this AI founder ditched bootstrapping for a $17m deal with 20VC

Fonio founder Daniel Keinrath spent years avoiding VCs. But a shift in pricing — and a meeting with Harry Stebbings — changed his mind

Éanna Kelly

3 min read

Daniel Keinrath, the CEO of Vienna-based AI startup Fonio, spent years insisting he didn’t want to share control of his company with VCs. 

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Éanna Kelly

Éanna Kelly is a contributing editor at Sifted, and writes Startup Life , a weekly newsletter on what it takes to build a startup. Follow him on X and LinkedIn

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