Chris Picardo talks AI in Biotech, IA Summit Recordings Available, and Terray Raises $120M Round

Last week, Partner Chris Picardo dove into the future of tech-driven life science innovation?on the Venture with Grace podcast. We're sharing two more recordings from the?IA Summit, including must-watch conversations with Peter DeSantis and Marco Argenti on how AI and serverless computing are transforming the tech stack and a panel featuring CEOs of Glean, Luminance, and Smartsheet discussing whether companies are really seeing productivity gains from AI. From the portfolio, Terray Therapeutics announced a $120M Series B round led by NVIDIA and Bedford Ridge, DevZero hired a head of marketing, EdgeRunner AI was featured in CEO world, and so much more.

Madrona News

Venture with Grace: Chris Picardo on Tech-Driven Life Science Innovation

Madrona Partner Chris Picardo joined the Venture with Grace podcast ( Grace Gong ) to dive into?the evolution of Madrona’s AI in biotech strategy, emerging trends in personalized medicine and healthcare, and how machine learning is poised to revolutionize the pharmaceutical industry.

Chris's?leadership helps shape Madrona’s investments in innovative companies that merge cutting-edge wet lab science with advanced machine learning to transform industries like personalized medicine and healthcare. In addition to his work in life sciences, Chris also plays a key role in Madrona's investments in consumer technology and marketplaces, and he continually explores how technological advancements are reshaping consumer experiences and interactions in the digital age. Watch or listen here.

2024 IA Summit

Transforming Al Foundations & the Enterprise:?Peter DeSantis & Marco Argenti

What happens when two old friends who helped build the future of cloud computing sit down to talk about the next generation in AI and infrastructure? In this IA Summit fireside chat Marco Argenti ( 高盛 CIO) and Peter Desantis ( Amazon Web Services (AWS) SVP of Utility Computing) share candid insights, lessons learned, and bold predictions about how AI and serverless computing are reshaping the technology landscape.

This conversation is filled with humor, camaraderie, and deep technical insights, as Peter reflects on his time building AWS from the ground up and looks forward to what’s next. From the game-changing potential of Generative AI to AWS’s AI chips like Trainium and Inferentia, these two dive into how these innovations will impact startups, enterprises, and the future of tech.

• AI and Serverless—The Next Frontier:?Both Marco and Peter emphasized how AI is accelerating the adoption of serverless computing, allowing companies to focus on building innovation rather than managing infrastructure.
• AI Innovation Across the Stack:?Peter provided a deep dive into AWS’s approach to AI infrastructure, from custom chip development (Trainium and Inferentia) to developer tools like SageMaker HyperPods, all designed to remove complexity and speed up AI development.
• The Power of Culture:?Peter shared how AWS’s leadership principles, starting with customer obsession, were critical to their success and helped build a strong foundation for everything AWS does today.
• Practical Advice for Startups:?Marco and Peter offered valuable insights into the developer experience with AI and shared how AI’s impact will span industries—from revolutionizing IT infrastructure to potentially aiding in curing cancer, making it a transformative force for both startups and enterprises.

The full transcript is also available here.

Searching for Answers — The New Era of Enterprise Productivity

In a world where generative AI is touted as the ultimate game-changer for enterprise productivity, how much of it is hype, and how much is reality? At our recent IA Summit, Madrona Venture Partner Mark T. Nelson led a panel to cut through the noise with CEOs Eleanor Lightbody ( Luminance ), Arvind Jain ( Glean ), and Mark Mader ( Smartsheet ). They tackled the big questions head-on: Are companies really seeing productivity gains from AI? Can we trust AI with critical tasks? And what does the future hold for the workforce as AI continues to evolve?

From real-life success stories to the challenges of building trust and integrating AI into everyday workflows, this session provided a no-nonsense look at what AI can — and can’t—do for your business today.

• AI’s Early Impact on Enterprise Productivity: The panel explored how AI is already saving time across industries, with specific examples of how companies like Glean are improving case resolution times and Luminance is automating legal processes. However, there’s a consensus that while productivity gains are real, we are only scratching the surface of AI’s potential.
• Building Trust and Adoption in AI: Trust remains a key challenge, especially in high-stakes environments like legal and enterprise settings. The panelists emphasized the importance of transparency and gradual adoption, where AI acknowledges uncertainty and users are given time to build confidence in its outputs.
• AI’s Role in Workforce Transformation, Not Replacement: While AI is driving efficiencies, the panelists agreed that rather than replacing workers, AI will transform roles, enabling people to focus on higher-value tasks. They predict that AI will create new opportunities, shifting how we define productivity and work.

The full transcript is also available here.

Founded & Funded

Perseverance Over Speed: Creating a New Category with Impinj’s Chris Diorio

If you haven't watched/listened, be sure to catch our latest episode of Founded & Funded with Madrona Managing Director Tim Porter , Venture Partner Patrick J. Ennis , and Chris Diorio , co-founder and CEO of Impinj . These three reminisce about old times and share some fun stories while diving into what it takes to truly launch a new category — and the patience required by both entrepreneurs and investors when doing so. They also discuss developing new speculative technology, navigating channel partner relationships, making it through an IPO during uncertain times, and how Impinj became the least-known $4.6 billion public company (now, actually $6.6B) in Seattle. This is a must-listen for any entrepreneurs out there.?

Listen on?Spotify,?Apple,?Amazon?| Watch on?YouTube?| Full Transcript at Madrona

Portfolio Roundup

Terray raised $120 million for its Generative AI drug development platform.

EdgeRunner CEO Tyler Xuan Saltsman featured in CEO World.

Animoto CEO Beth Forester joined The Business That Story Built podcast.

Echodyne?was featured in a KING5 segment.?

DevZero brought on Alberto Grande as head of marketing.

Eclypsium Principal Security Researcher Paul Asadoorian wrote a column about vulnerability prioritization for Dark Reading.

Statsig Head of BizDev Skye Scofield sat down with Ben Gilbert and David Rosenthal of the Acquired podcast, diving into the world of investments and business strategies.

Runway announced the third annual AI Film Festival.

Cohesity was featured in a piece by CRN.