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.
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Inside the Week’s Deep-Tech Capital Movements
(23 – 28 June 2025)
Dear Friends,
This past week reminded anyone paying attention that while “AI” dominates the headlines, the real story sits one layer down: the hardware, physical infrastructure, and domain-specific systems that make AI actually run — and that protect its margins when hype cools. From superconducting chips to


