He said this was partly due to the fact deep tech startups built their foundations on top of "unique tech" that is "hard to develop, hard to copy," and often bring real disruption to the industries they aim to overhaul. Investors piled into startups like Swedish battery maker Northvolt, which raised $2.75 billion, and Britain's robotics firm CMR Surgical, which lured $600 million in a round backed by SoftBank.Īdam Niewinski, cofounder and general partner at OTB Ventures, said that deep tech has proven more resilient to the economic downturn than other industries like rapid delivery and NFTs – both of which have reported aggressive consolidation or collapsed valuations. The sector has been shunned for years due to its supposed inability to commercialize moonshot ideas, but now startups in the region are securing funds from investors and governments betting that the region can deliver game-changing tech.ĭeep tech startups in the bloc were worth $711 billion, around 700 billion euros, by the end of 2021, according to Dealroom and Sifted data. Insider spoke to 12 VCs who recommended 23 deep tech startups to watch in Europe.Įurope's deep tech sector is finally getting its due.Investors are piling into startups in areas like quantum, AI, robotics, and autonomous driving.Europe's deep tech sector is booming with startups in the sector worth $711 billion, per Dealroom.
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