Power-to-compute leads; ADCs raise big; Autonomy stays bounded & more | Deep Tech Capital Movements #40
This week Deals Sector Allocation — Biotech & Health 10; Energy 8; Industrial 5; Cyber & Defense 5; AgTech & Food 3; Space 3; AI & Compute 3; Semis & Quantum 2; Materials & Mobility & Logistics 1.
Welcome back to Deep Tech Capital Movements — A global read on where the money actually went in Deep Tech private markets.
Inside This Week’s Deep Tech Capital Movements:
Lite Edition (Free)
This week at a glance
Five Deals to Watch (why they matter)
Capital Flows Snapshot
Full Edition (Premium)
Weekly analysis:
WEEK 42, 2025 - Repricing the Edge: ADC Scale-Ups, Power-to-Compute, and Brownfield Autonomy
How Capital Actually Deployed This Week
Funds & Vehicles Check
Geography Check
Five Signals That Stood Out
Full Tracking of 41 Deep Tech Startup Rounds
Full Tracking of 5 Funds & Vehicles
This week at a glance:
46 items tracked: 41 startup/deal events + 5 funds/vehicles.
By sector (startups only): Biotech & Health (10) led; Energy & Climate (8) followed; Industrial & Manufacturing (5) and Cyber & Defense (5); AgTech & Food Systems (3), Space & Aero (3), AI & Compute (3); Semis & Quantum (2); Materials (1); Mobility & Logistics (1).
By geography: Europe incl. UK (17) and USA (15) dominated; Asia–Pacific (5), Middle East (2), Canada (1), Africa (1).
Five deals to Watch:
Tubulis — €308M Series C (DE): Scaling an ADC platform with clinical momentum and international build-out.
Takeaway: ADCs are moving from single assets to repeatable manufacturing platforms with CMC and trial discipline.Ecorobotix — $150M Growth (CH): Plant-by-plant AI spraying across 20+ countries to cut chemicals and costs.
Takeaway: Per-plant precision creates farmer-legible payback and defensible field data assets.Vertical Semiconductor — $11M Seed (US): Vertical GaN power devices to push power conversion closer to compute.
Takeaway: Watts-per-inference is now a budget metric; efficiency expands capacity without new buildings.enspired — >€40M Series B Extension (AT): AI optimization for batteries with >1 GW under management and Japan expansion.
Takeaway: Software-routed flexibility is becoming an investable, recurring “virtual asset class.”HyImpulse — €45M Series A + (DE): Hybrid-propulsion small launch moving from suborbital tests toward commercial service.
Takeaway: European access to space is shifting to rate and reliability, not just R&D milestones.
Capital Flows Snapshot:
Biotech & Health: Money went to cancer drugs (ADCs), infection treatments, and devices that guide procedures. Investors liked clear trial plans and the ability to make product at consistent quality.
AI & Software: Funding backed tools that cut paperwork—document reading, imaging referrals, trial recruitment—because they save time and reduce errors. Early bets also went to “agent” AI trained in simulations.
Semis & Quantum: Support for power chips (GaN) that boost data-center efficiency and quantum-safe networking (QKD) that works over today’s fiber.Energy & Grid: Capital flowed to software that operates batteries for the grid, reuse of EV packs, and heat storage sold as a service. Micro-wind and low-E window coatings offered easy savings. Using existing fiber cables as sensors improved grid monitoring without heavy hardware spend.
Defense & Autonomy: Investors preferred deploy-now systems—portable radar, counter-UAS, swarm software, and inspection robots for industrial sites. Ultralight delivery drones targeted sharply lower cost per drop.
Space & Manufacturing: Launch firms raised to move from tests to regular service. New space-grade composites lines and in-space welding aim for higher production rates. Large robotic 3D printers expanded into big, multi-material parts.
Industrial, Cyber & Tools: Software for hardware teams and equipment dealers sped up configuration, quoting, and orders. Cyber startups focused on file-level protection and simpler, multi-tenant cloud security.
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