💸 $187M Microgravity Pharma; $51M Zero-Carbon Steel; €2.6M Rare-Earth Recycling; $11.5M Autonomous Mining; $29M Nano-Silicon Anodes | Deep Tech Capital Movements Vol. 26

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 tracks and highlights capital dynamics in deep tech, from early-stage funding rounds to major fund launches.

Dear Friends,

This week’s deep tech capital flows trace a throughline that’s becoming harder to ignore: real industrial bets are no longer just headlines about “next-gen” hardware — they’re increasingly intertwined with serious supply chain rewiring, talent redeployment, and the cold pragmatism of scaling physical systems where software alone can’t bend the laws of physics.

If you skim the rounds below, you’ll see spinouts, first-of-a-kind pilot lines, and new funds that want to