💸 $11M Seed Dual-Chem Batteries; €325M Debt for EV Infra; $100M Series B Cloud Racks; $18.7M Seed Copper Recovery; $8.5M Series A In-Fab Yield AI | Deep Tech Capital Movements Vol. 29
The Week’s State of Deep Tech Capital: who’s Raising, who’s Betting, and why.
Welcome back to Deep Tech Capital Movements — the weekly report from The Scenarionist that highlights and analyzes capital dynamics in Deep Tech, from early-stage funding rounds to major fund launches.
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Beyond Silicon, Beneath 4K – The Rise of Cryogenic Compute | Rumors
Five Startups, One Rumor. Startups are harnessing cryogenic electronics and thermodynamics to break scaling limits in AI and quantum — from cold chips to million-qubit systems.
Dear Friends
Another week, another flood of capital into the high-stakes universe of deep tech—and once again the signal-to-noise ratio is tightening. By the numbers, deep-tech and climate-tech startups disclosed more than $1.61 billion in fresh funding, with Europe and North America splitting more than 90% of the haul and sporadic—but material—tickets landing in Asia-Pacific and the Middle East. Macro headwinds, and rate jitters: if you can point to hard IP, proven unit economics, and a line-of-sight to infrastructure control, the checks still clear.
Early-Stage Microstructure: Modular Is the New Moat
At seed, conviction is racing back toward high-barrier, physical-world plays long dismissed as “too slow” for SaaS-bred funds. Raise Robotics ($7.75 M) and Estes Energy ($11 M) exemplify the new wedge: solve one brutal pain point (façade safety, battery-pack swapability), launch with a modular architecture, then expand into the control plane. Capital-light prototypes, industrial credibility, and easy-to-model cost savings are beating slick pitch decks every time.
The same logic explains the week’s standout, ARTBio ($132 M Series B). Radiopharma isn’t just biotech; it’s advanced manufacturing plus sovereign isotope supply. Investors are underwriting infrastructure, not science projects. Ditto Still Bright ($18.7 M) in copper electro-leaching and Solidec ($2 M) in on-site green chemicals: smelting and centralized synth are out; distributed, plug-and-play plants are in.
Dual-Use as Default
Civilian–industrial crossover is now table stakes for venture defensibility. Reveal Technology ($30 M), Project Q (€7.5 M), and Delian Alliance ($14 M) read as pure defense tech, yet their mesh-networking, vision-AI, and autonomy stacks monetize across border security, disaster response, and industrial inspections. Founders aren’t pitching “defense-only” anymore—they’re pitching real-time infrastructure with sovereign upside and commercial TAM.
Embedded Intelligence Over Abstract AI
Money is rotating away from high-theory foundation models toward embedded intelligence that lives in factories, farms, and ships. ARX Robotics (€11 M extension) and 4AG Robotics ($29 M) don’t sell “AI”; they sell autonomy that moves material and boosts yield. It’s gritty, sensor-fused, and production-validated—exactly where value is aggregating.
Europe’s Industrial Re-Awakening
European deal flow skewed industrial: MagREEsource (€23 M) for magnet recycling, Geyser Batteries (EU EIC Accelerator) for aqueous supercaps, and Arceon (undisclosed) for 2 000 °C ceramics. Mobility plays MobyFly and Zenobē reinforce the thesis: sovereignty over supply chains and resilient manufacturing trumps flashy software multiples. Strategic corporates—from General Atomics to MUFG—are now regulars on term sheets, a sign that corporate venture arms are doubling down on domestic hard-tech capacity.
What’s Driving the Checks
Hybrid Capital Structures Go Mainstream
Zenobē’s seven-bank debt stack and Greenvolt’s rights issue show project-finance mechanics moving into late-stage VC. Expect more debt-plus-equity blends for asset-heavy climate infrastructure.Neuro & Radiopharma Re-Rating
MapLight’s $372.5 M Series D and ARTBio’s $132 M Series B point to a thaw in CNS and radio-oncology. Better pre-clinical predictive tools and Big Pharma’s appetite for de-risked Phase II assets are catalysts.On-Prem & Sovereign Compute
Oxide ($100 M) and FuriosaAI ($125 M bridge) ride the demand for in-house racks and non-GPU accelerators. Data-sovereignty fears push enterprises to hardware they can truly control.European Defense Tech Accelerates
ARX, Project Q, and Delian landed seed-to-Series A rounds aided by NATO fast-tracks and offset programs. Dual-use is finally investable at speed.Seed Climate Hardware Isn’t Dead Money
Still Bright, Solidec, SunCubes, and Estes Energy all closed sub-€20 M seed rounds by proving hard OPEX savings and regulatory tailwinds. Hardware survives the “valley of death” when prototypes cut cost or CO₂ on day one.
Key Emerging Trends
Hybrid finance is the new normal. Debt for steel, equity for R&D. Zenobē and Greenvolt demonstrate cheaper capital for physical assets and lighter equity dilution for software layers.
Compute stacks shift on-prem. Oxide’s rack-scale clouds and Furiosa’s NPUs challenge Nvidia not only on price but on licensing freedom and sovereign control.
European dual-use boom. Geopolitical urgency creates procurement fast lanes; national funds with offset clauses accelerate ARX- and Project Q-style rounds.
Early climate hardware stays hot. Seed tickets between €5–20 M flow into electro-chemistry, green mining, and laser power-beaming where prototypes already show OPEX/CO₂ wins.
Capital Is Rewarding Real-World Criticality
Across every vertical, investors are chasing projects that marry proprietary tech with near-term, cash-flow-adjacent monetization. Whether electrifying bus depots, curing neuro-degeneration, or stabilizing the grid, LPs will underwrite large tickets when adoption risk is mitigated by long-term contracts, favorable regulation, or deep scientific moats.
For younger startups the message is two-fold: the money is there, but the narrative must prove how you’ll sprint from lab bench to field deployment—and show a financing model that mirrors real-asset economics. Modularity, infrastructure control, and mission-criticality aren’t buzzwords; they’re the new underpinnings of venture scale.
Bottom line: modular, infrastructural, physically rooted systems are back in the driver’s seat. Capital is rewarding execution over speculation, integration over abstraction, ownership over leasing. The week’s winners didn’t sell hype—they solved hard problems and claimed their verticals end-to-end.
See you next Monday.
— Giulia
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The Power Law of Matter: Why Advanced Materials are Eating Digital Margins
From SaaS Logic to Commodity Logic. From advanced materials in photonics to fusion energy — the real profit pools are moving back into the atomic layer.
Startup Deal Activities to Watch
🔸 Raise Robotics Nets $7.75 M Seed to Automate High-Risk Facade Work
San Francisco-based Raise Robotics closed $7.75 million to commercialize a multipurpose construction-site robot that drills, fastens, and surveys slab edges. The platform has already installed brackets for 10 000 curtain-wall panels, reducing edge-work injuries and cutting layout time by 60 percent. New funding adds modular lift attachments and fleet-uptime analytics.
Deal: Seed Round
Region: United States, North America
Industry: ConTech & Robotics
Sector: Construction Automation
Tech: Multi-Tool Edge Robot, Vision-Guided Drilling
🔸 Estes Energy Raises $11 M Seed for Dual-Chemistry Battery Packs
Colorado-based Estes Energy secured $11 million to finalize a battery-pack architecture that swaps seamlessly between high-energy NMC and low-cost LFP cells. A pilot line targets heavy-duty EVs across defense, aviation, and mining sectors, with first 380 Wh/L packs shipping in Q4 2025. The modular design aims to cut OEM integration cycles in half.
Deal: Seed Round
Region: United States, North America
Industry: Energy Storage
Sector: Battery Systems
Tech: Dual-Chemistry Pack, High-Density Modules
🔸 Solidec Closes $2 M Pre-Seed to Decarbonize Chemical Manufacturing with Modular Reactors
Houston-based Solidec’s electro-catalytic reactors synthesize hydrogen peroxide and other bulk chemicals on-site using only air, water, and renewable power. Early pilots show 40 percent energy savings and eliminate hazardous transport logistics. The oversubscribed pre-seed funds pilot deployments in semiconductor fabs and wastewater facilities.
Deal: Pre-Seed
Region: United States, North America
Industry: Climate Tech
Sector: Green Chemicals
Tech: Electro-Catalytic Modular Reactors, On-Site Production
🔸 Still Bright Raises $18.7 M Seed to Recover Copper with Electro-Leaching
New Jersey climate-tech startup Still Bright devised a vanadium-based electro-leach process that extracts 95 percent of copper without smelting, slashing capex by up to 90 percent. Breakthrough Energy Ventures led the seed to build a 500-t/yr demo plant and validate tailings-recovery economics. Commercial modules targeting 10 000 t/year are planned for 2028.
Deal: Seed Round
Region: United States, North America
Industry: Clean Mining
Sector: Hydrometallurgical Metal Recovery
Tech: Vanadium Flow-Leach, Modular Refinery Units
🔸 ARTBio Raises $132 M to Build Alpha-Emitter Radiopharmaceutical Pipeline
STAT reports that Boston-based ARTBio closed a $132 million financing to accelerate its Actinium-225 programs for solid tumors. The company will expand isotope-production partnerships and move lead candidate ABX-101 into Phase 1 glioblastoma trials by mid-2026. Investor appetite for targeted radiotherapies is resurging as Novartis’s Pluvicto passes $1 billion in annual sales.
Deal: Series B
Region: United States, North America
Industry: Biotech
🔸 Oxide Computer Company Raises $100 M Series B for Rack-Scale On-Prem Cloud
California-based Oxide secured $100 million to scale production of its fully integrated compute racks, which give enterprises public-cloud agility behind their own firewalls. Funds will expand manufacturing capacity and advance firmware-to-control-plane co-design for HPC and regulated industries. Lifetime funding now exceeds $150 million.
Deal: Series B
Region: United States, North America
Industry: Enterprise Infrastructure
Sector: On-Prem Cloud Computing
Tech: Rack-Scale Systems, Hardware-Software Co-Design
🔸 Sava Technologies Lands €16.6 M Series A for Needle-Free CGM
London-based Sava closed $19 million to miniaturize its molecular-sensing patch that reads glucose and lactate without needles. Funds will scale biocompatible MEMS production and support CE-mark submission in 2026. Longer term, the startup envisions a multi-analyte roadmap for sports-performance and metabolic-health markets.
Deal: Series A
Region: United Kingdom, Europe
Industry: Health Tech
Sector: Non-Invasive Biomonitoring
Tech: Optical MEMS Sensors, Wearable Patch
🔸 Arceon Receives Strategic Investment to Industrialize Ceramic-Matrix Composites
Delft’s Arceon secured funding from General Atomics ASI to scale its ArCMC high-temperature materials for hypersonic and fusion applications. The tie-up funds a pilot line producing complex engine-exhaust parts capable of withstanding > 2,000 °C. The lightweight composites promise performance gains for satellites and UAVs.
Deal: Strategic Investment
Region: Netherlands, Europe
Industry: Advanced Materials
Sector: Ceramic-Matrix Composites
Tech: ArCMC, Near-Net-Shape Manufacturing
🔸 SunCubes Lands €1.1 M Seed to Beam Laser Power to Drones
Milan’s SunCubes closed a seed round to commercialize long-range laser charging that keeps inspection drones aloft indefinitely. The system tracks UAVs via adaptive optics and frequency-locks a beam onto photovoltaic tiles under the fuselage. Fresh capital will finalize CE-mark safety tests and demo a 10 kW ground station in 2026.
Deal: Seed Round
Region: Italy, Europe
Industry: Energy & UAV
Sector: Wireless Power Transfer
Tech: Laser Beaming, Beam-Steering Optics
🔸 MobyFly Secures €10.8 M Series A for Zero-Emission Hydrofoil Ferries
Lausanne-based MobyFly garnered CHF 10.1 million (~ €10.84 M) to certify its 24-meter “M60” electric hydrofoil that carries 60 passengers at 70 km/h while cutting wake and energy use by 70 percent. The funding supports composite manufacturing expansion in France and pilot routes on Lake Geneva and the Seine. The company targets commercial service by 2026.
Deal: Series A
Region: Switzerland / France, Europe
Industry: Clean Mobility
Sector: Water Transport
Tech: Electric Hydrofoils, Composite Hulls, Battery Swapping
🔸 4AG Robotics Raises $29 M Series B for Autonomous Mushroom Pickers
British-Columbia-based 4AG Robotics secured US $29 million led by Astanor and Cibus Capital to triple production of its AI-vision harvester that operates 24/7 with 85 percent less labor. The company will open a Netherlands support hub and develop a next-generation arm tuned for shiitake varieties. Growers report higher yields and reduced bruising.
Deal: Series B
Region: Canada, North America
Industry: AgTech & Robotics
Sector: Mushroom Harvest Automation
Tech: Computer-Vision Pickers, Autonomous Arms
🔸 Cultipharm Closes €1 M Capital Increase for Pharma-Grade Vertical-Farm Ingredients
Mantua-based Cultipharm attracted €1 million to expand controlled-environment farms that grow medicinal botanicals with traceable phytochemical profiles. Proceeds will enhance the in-house lab for gene-expression monitoring and secure ISO-9001 certification. The company plans a Series A in 2026 to scale exports to cosmetics and nutraceutical clients.
Deal: Capital Increase
Region: Italy, Europe
Industry: AgTech
Sector: Vertical-Farming Bio-actives
Tech: CEA Modules, Metabolomic Analytics
🔸 MagREEsource Secures €23 M to Build Eco-Magnet Gigafactory
French deep-tech firm MagREEsource raised €23 million to upcycle rare-earth scraps into sintered NdFeB magnets with an 80 percent smaller carbon footprint. The Noyarey pilot will scale to 50 t per year, targeting EV motors and offshore turbines. Life-cycle-analysis certification is underway to qualify for EU battery passports.
Deal: Equity Financing
Region: France, Europe
Industry: Advanced Materials
Sector: Permanent Magnets
Tech: Hydrogen-Decrepitation Recycling, Sinterless Pressing
🔸 Quartr Raises €8.7 M to Scale Qualitative Market-Research
Stockholm’s Quartr secured $10 million (≈ €8.7 M) from Altos Ventures, Yanno Capital, and Öhman to enrich its earnings-call intelligence platform. The software aggregates transcripts, slide decks, and management commentary, adding AI-driven sentiment and competitor benchmarking for buy-side analysts. Funds will deepen North-American coverage and grow the 24-person product team to 40 within a year.
Deal: Growth Round
Region: Sweden, Europe
Industry: Market Intelligence
Sector: Public-Equities Research
Tech: NLP, Data Aggregation
🔸 Tilla Secures €2 M Seed to Digitize Maritime Crew Logistics
Berlin-based Tilla closed a Motion Ventures-led seed round with EXMAR participation, bringing total funding to €4 million. Its AI platform optimizes crew-change planning, cutting port-call costs and CO₂ emissions by aligning flights, visas, and vessel schedules in real time. Capital will bolster integrations with shipping ERPs and support expansion into Singapore and Dubai.
Deal: Seed Round
Region: Germany, Europe
Industry: Maritime Tech
Sector: Crew-Change Management
Tech: Optimization Algorithms, SaaS, API Integrations
🔸 Modulos Lands €9.3 M Pre-Series A to Operationalize AI Governance
Zurich-based Modulos raised CHF 8.7 million (~ €8.96 M) to automate dataset curation, bias detection, and model-risk reporting. With enforcement of the EU AI Act looming, demand for turnkey compliance workflows is rising across finance, healthcare, and the public sector. Fresh capital will double head-count and fund a Brussels policy office.
Deal: Pre-Series A
Region: Switzerland, Europe
Industry: AI Governance
Sector: Compliance Software
Tech: Data-Curation Engine, Bias Audits, Model Cards
🔸 Stable Raises $28 M to Build USDT-Native Layer-1 Blockchain
New York-based Stable closed a $28 million round led by Bitfinex and Hack VC with Franklin Templeton participation. The chain treats stable-coin USDT as gas, enabling sub-second settlement for remittances and peer-to-peer payments without volatile fees. Proceeds support main-net launch and developer tooling ahead of a phased 2025 roadmap.
Deal: Strategic Round
Region: United States, North America
Industry: Blockchain
Sector: Payments Infrastructure
Tech: Layer-1 Protocol, Stable-Gas Model
🔸 SkinBit Attracts Undisclosed Wefunder Round to Democratize AI-Powered Skin-Cancer Screening
Austin- and Paris-based SkinBit closed a community-equity raise on Wefunder to speed the roll-out of its full-body, AI-driven dermatology “Sentinel” pods. The system scans patients in under a minute and flags suspicious lesions for clinician review, promising earlier melanoma detection and lower health-system costs. Proceeds will expand pilot sites and add FDA-compliant imaging plus longitudinal data-tracking features.
Deal: Crowdfunding (equity)
Region: United States / France, Europe
Industry: Digital Health
Sector: Dermatology Diagnostics
Tech: Computer Vision, AI Pods, Edge Imaging
🔸 Anaconda Raises > $150 M Series C at $1.5 B Valuation
Austin-based Anaconda secured a Series C led by Insight Partners and Mubadala, valuing the Python-AI platform at $1.5 billion. The round accelerates managed-cloud offerings and strategic acquisitions while providing employee liquidity. Anaconda’s open-source distribution is used by more than 45 million developers worldwide.
Deal: Series C
Region: United States, North America
Industry: Developer Tools
Sector: Data Science & MLOps
Tech: Package Management, Secure Repos, Cloud Notebooks
🔸 Hytro Bags €2.3 M to Mainstream BFR-Integrated Sportswear
London performance-wear brand Hytro pulled in £2 million (~ €2.3 M) from athlete syndicates and venture firms to commercialize garments with built-in blood-flow-restriction straps. Early trials show faster warm-ups and improved muscle recovery, resonating with elite teams across soccer and American football. New funding backs clinical validation, a women’s line, and entry into U.S. collegiate sports.
Deal: Seed Extension
Region: United Kingdom, Europe
Industry: Sports Tech
Sector: Wearable Recovery
Tech: Integrated BFR Textile, IoT-Ready Sensors
🔸 pyck Raises €2.6 M Seed for Open-Source Warehouse-Management OS
Berlin-based pyck won backing from IRIS and HTGF to modernize the warehouse-management-system landscape with API-first, containerized modules. Its AI engine optimizes pick paths and SKU zoning, delivering throughput gains of 27 percent in early pilots. Funds will launch a community edition under an MIT license to build a developer ecosystem.
Deal: Seed Round
Region: Germany, Europe
Industry: Logistics Software
Sector: Warehouse Management
Tech: Open-Source WMS, AI Route Optimization
🔸 Zenobē Locks €325 M Multi-Bank Facility to Electrify 1,000 Buses
London-based Zenobē secured a seven-bank debt package featuring MUFG and CIBC to expand its “fleet-as-a-service” model. The credit line finances vehicle leasing, depot chargers, and proprietary grid-balancing software, aiming to deploy 1 GW of battery storage by 2026. The deal further strengthens Zenobē’s position in European fleet electrification.
Deal: Debt Financing
Region: United Kingdom, Europe
Industry: Clean Mobility
Sector: Fleet Electrification
Tech: Battery-Storage Hubs, Energy-Optimization
🔸 MapLight Therapeutics Scores $372.5 M Series D for CNS Circuit Drugs
Redwood City-based MapLight drew an oversubscribed round co-led by Forbion and Goldman Sachs Alternatives. Proceeds propel lead candidate ML-007C-MA, an M1/M4 muscarinic agonist combo, through Phase 2 trials in schizophrenia and Alzheimer’s psychosis. The company will also broaden its neural-circuit discovery pipeline and add seasoned biotech operator Nanna Lüneborg to the board.
Deal: Series D
Region: United States, North America
Industry: Biotech
Sector: CNS Therapeutics
Tech: Muscarinic Agonists, Circuit-Mapping Platform
🔸 Ultromics Raises $55 M Series C for AI Heart-Failure Diagnostics
Oxford spin-out Ultromics locked in $55 million to commercialize EchoGo Heart Failure, an FDA-cleared echocardiography-AI that predicts HFpEF months earlier than standard scans. Capital accelerates U.S. payer pilots and a pivotal study in Asia. The round also funds cloud-native integration with leading ultrasound vendors.
Deal: Series C
Region: United Kingdom, Europe
Industry: Digital Health
Sector: Cardiovascular Diagnostics
Tech: Deep-Learning Echo Analysis
🔸 Altano Energy Secures €60 M Growth Capital from M&G
Madrid-based Altano attracted €60 million to expand its 1.1 GW pipeline across solar, wind, hydro, and battery storage. The capital allows Altano to mature greenfield projects to ready-to-build status and acquire late-stage assets. Management targets 3 GW under management by 2028.
Deal: Growth Equity
Region: Spain, Europe
Industry: Renewable Energy
Sector: Utility-Scale Generation
Tech: Hybrid PV-Wind-Storage Portfolios
🔸 Greenvolt Raises €150 M to Accelerate Battery-Storage Build-Out
Lisbon-based Greenvolt executed a €150 million rights issue underwritten by shareholder KKR to finance 400 MWh of grid-scale BESS across Iberia and CEE. The raise supports Greenvolt’s pivot from biomass to flexible storage and paves the way for a potential listing of its storage arm by 2027.
Deal: Capital Increase
Region: Portugal, Europe
Industry: Energy Storage
Sector: Battery-Energy Storage Systems
Tech: Grid-Scale BESS, Hybrid Renewables
🔸 AIR Secures $23 M Series A to Accelerate Two-Seat eVTOL Production
Tel Aviv aerospace OEM AIR drew venture backing to scale manufacturing of its 250 kg-payload AIR ONE and an uncrewed cargo variant. U.S. pre-orders exceed 900 units, and the company plans a Florida assembly plant. Certification to FAA Part 23 is targeted for 2027.
Deal: Series A
Region: Israel, Middle East
Industry: Advanced Air Mobility
Sector: eVTOL Aircraft
Tech: Distributed-Electric Propulsion, Carbon Composites
🔸 ARX Robotics Adds €11 M to Series A for Modular Tactical UGVs
Munich-based ARX extended its Series A to €42 million to scale Gereon unmanned ground vehicles and the Mithra OS autonomy stack. Six European armies already field prototypes, and a second assembly line will boost production capacity. New hires will focus on perception and navigation software.
Deal: Series A (extension)
Region: Germany, Europe
Industry: Defense Tech
Sector: Unmanned Ground Vehicles
Tech: Modular UGV Platform, AI-Driven Mission OS
🔸 Auriga Space Attracts $6 M to Prototype Electromagnetic Launch Track
San Francisco-based Auriga secured $4.6 million in VC seed plus $1.4 million in SpaceWERX contracts to build a maglev ramp that hurls small launchers at Mach 6. A 200-m sub-scale rail will be installed at Edwards AFB, accompanied by high-g satellite survivability tests. The fully reusable ground system aims to halve launch costs by 2032.
Deal: Seed + SBIR Grants
Region: United States, North America
Industry: Space Launch
Sector: Ground-Based Launch Systems
Tech: Electromagnetic Acceleration, Hypersonic Rail
🔸 SixSense Snags $8.5 M Series A to Bring AI Yield-Ops to Chip Fabs
Singapore-based SixSense raised $8.5 million to scale no-code analytics that ingest defect images and equipment signals across 100 million chips. Deployed at GlobalFoundries and JCET, the platform boosts yield up to 2 percent and cuts inspection labor 90 percent. New capital funds Malaysia and Taiwan sales teams and R&D for predictive control.
Deal: Series A
Region: Singapore, Asia-Pacific
Industry: Semiconductor AI
Sector: In-Fab Process Analytics
Tech: Vision-AI Defect Detection, Low-Code Deployment
🔸 Geyser Batteries Wins EU EIC Accelerator for Hybrid Supercap Cells
Finnish startup Geyser Batteries secured a mix of EU grant and equity (often up to €17.5 M) to pilot water-based high-power batteries delivering one million cycles and operating from −40 °C to +60 °C. Capital will complete a Mikkeli pilot line and grid-stability demos in Finland and Spain. Target markets include heavy machinery and rail-hybrid retrofits.
Deal: EIC Accelerator (Grant + Equity)
Region: Finland, Europe
Industry: Energy Storage
Sector: Hybrid Supercapacitors
Tech: Aqueous Electrolyte Cells, Ultra-High-Cycle Life
🔸 Project Q Raises €7.5 M Seed to Build “Internet of Defence” Data-Fusion Platform
Munich-based Project Q secured €7.5 million to expand AI-enabled software that stitches battlefield and commercial feeds into a common operational picture. The team will harden cybersecurity layers, add NATO-STANAG adapters, and double head-count to 40 engineers. Initial pilots with the German MoD focus on rapid situational awareness for dismounted troops.
Deal: Seed Round
Region: Germany, Europe
Industry: Defence Tech
Sector: Data Integration & ISR
Tech: Sensor-Fusion Engine, AI Anomaly Detection
🔸 Delian Alliance Industries Secures $14 M Series A for Low-Cost Autonomous Defence Systems
Athens-based Delian, founded by a former Apple roboticist, closed $14 million to industrialize loitering drones and AI-equipped surveillance towers. A Bristol manufacturing hub will meet NATO offset requirements, and prototypes are already field-tested with Hellenic Army units. Export license negotiations are underway with three allied countries.
Deal: Series A
Region: Greece / United Kingdom, Europe
Industry: Defence Tech
Sector: Autonomous Systems
Tech: AI Mission OS, Loitering UAVs, ISR Towers
🔸 Reveal Technology Closes $30 M Series B for Offline Tactical-Intel Software
Bozeman-based Reveal raised $30 million to scale Farsight, a mapping engine that delivers real-time situational awareness on smartphones without cloud connectivity. The software is already deployed across multiple U.S. and allied special-operations units. Funds will expand low-bandwidth 3-D reconstruction and add cybersecurity luminary Kevin Mandia to the board.
Deal: Series B
Region: United States, North America
Industry: Defence Software
Sector: Tactical Intelligence
Tech: On-Device 3-D Mapping, Mesh Networking
🔸 FuriosaAI Secures $125 M Series C Bridge for Data-Center AI Chips
Seoul-based FuriosaAI drew Korea Development Bank and Kakao Investment to fast-track mass production of its 7-nm “RNGD” accelerator and begin design of a 5-nm successor. The bridge lifts total funding to $246 million and values the fab-light startup at roughly $735 million. Proceeds will expand software-stack compatibility and OEM partnerships.
Deal: Series C (bridge)
Region: South Korea, Asia-Pacific
Industry: Semiconductors
Sector: AI Accelerators
Tech: PCIe/OS-Native NPU, Compiler SDK
Venture Capital & Fund Activities to Watch
🔹 Cambridge Innovation Capital commits €115.3M to University of Cambridge spinouts, launches EIR programme
Cambridge Innovation Capital’s new £250 million evergreen fund—anchored by a £100 million commitment—underscores the growing transatlantic demand for early‐stage deep-tech innovation. While rooted in the University of Cambridge ecosystem, CIC’s emphasis on hardware, advanced materials and AI platforms offers U.S. investors a window into cutting-edge science with clear commercialization pathways. The concurrent Entrepreneur-in-Residence programme further de-risks ventures by pairing seasoned operators with founder teams, a model U.S. VCs are increasingly replicating to accelerate proof-of-concept and bridge the Valley-lab divide.
🔹 Yaletown Partners raises $100M for its biggest innovation fund yet
With an initial close of $100 million toward a $250 million target, Yaletown’s Innovation Growth Fund III highlights the appetite for industrial deep-tech across North America—extending beyond Silicon Valley into agtech, logistics-automation and energy-systems optimization. Although headquartered in Vancouver, the fund’s mandate to back later-stage Series A/B scale-ups dovetails with U.S. investors’ search for cross-border opportunities in hard-tech solutions that boost productivity and sustainability. Institutional commitments from Canadian Crown corporations signal the kind of public-private partnerships U.S. VCs now seek when co-investing in capital-intensive innovation.
🔹 Ballistic Ventures recruits retired US Air Force General Timothy Haugh as strategic advisor
Ballistic Ventures’ addition of Gen. Timothy Haugh—former NSA Director and U.S. Cyber Command Commander—underscores the firm’s commitment to deep-tech cybersecurity ventures that serve both commercial and defense markets. Haugh’s decades of experience in secure architectures and threat intelligence will sharpen Ballistic’s diligence on mission-critical platforms, a differentiator increasingly valued by U.S. LPs funding national-security startups. His strategic guidance promises to strengthen founder roadmaps, from ruggedized hardware integrations to AI-driven threat-detection pipelines.
🔹 Frazier Life Sciences raises $1.3B for latest early-stage biotech venture fund
Frazier Life Sciences’ $1.3 billion close for its twelfth fund exemplifies the scale required to sustain deep-tech biotech incubators in the U.S. market. Targeting early-stage companies at the intersection of synthetic biology, biologics and advanced therapeutics, Frazier’s vehicle responds to LP demand for diversified exposure across drug discovery platforms and novel delivery technologies. The firm’s track record—over 20 company launches since 2020—reinforces how deep-tech VCs can marshal specialized capital and scientific networks to de-risk nascent pipelines before clinical proof-points.
🔹 Verified Capital closes debut fund at $175M
Verified Capital’s $175 million inaugural fund signals a shift toward lean, founder-friendly deep-tech investing in the U.S. By limiting core commitments to eight–ten companies per fund and forgoing onerous board seats, the firm aims to foster intensive support models for robotics, quantum computing and industrial AI startups. Strategic LPs—ranging from fintech unicorn founders to leading endowments—reflect confidence in Verified’s thesis: that concentrated portfolios and operationally adept collaboration unlock breakthrough technologies more efficiently than traditional fund structures.
🔹 Inflection Point Ventures launches $110M angel fund under GIFT City framework
Though structured under India’s GIFT City regulations, IPV International’s $110 million angel fund offers U.S. VCs a template for cross-border deep-tech syndication. By streamlining investments into early-stage ventures—especially in biotech alternatives and advanced materials—the fund demonstrates how favorable onshore frameworks can attract NRIs, foreign nationals and institutional backers without traditional regulatory friction. U.S. investors evaluating similar structures will note IPV’s ability to combine tax efficiency with targeted ticket sizes ($100 K–$1 M) to accelerate global deep-tech discovery.
🔹 New Cox Cleantech Accelerator cohort enhances energy systems, industrial efficiency, and infrastructure
Cox Cleantech Accelerator’s second cohort, backed by $100 K per startup and twelve weeks of mentorship, exemplifies U.S. VCs’ rising interest in hardware-centric energy and infrastructure innovations. Selected companies will pilot AI-enabled lightning detection, modular EV-charging towers and IoT-driven grid resilience solutions—areas where proof-of-concept requires close industry collaboration and capital intensity. By integrating startups into Atlanta’s manufacturing ecosystem and Cox’s corporate network, the programme offers a replicable model for U.S. deep-tech investors seeking to bridge R&D and commercialization at scale.