Latest news with #deeptech
South China Morning Post
3 days ago
- Business
- South China Morning Post
Environmental breakthroughs take centre stage in Hong Kong start-up pitch competition
Every early-stage company entering the 2025 EQT Impact Challenge recognised the need to come up with a business concept that could meet three key criteria: it had to be investible, scalable, and hold promise for the long term. The task was to convey that potential to a panel of expert jurors and demonstrate how the company's innovation could drive meaningful change. The pitch competition, which has held previous editions in Japan, South Korea and Singapore, aims to identify and support early-stage companies with their breakthrough concepts, business plans, financial models, and ambitions to scale for long-term growth. It is organised by EQT, one of the world's largest investment firms, with its philanthropic arm, EQT Foundation, providing the winning start-up capital to fuel growth, and access to a global network of potential industry partners and investors. The event is being held in partnership with the South China Morning Post. The competition focuses on novel, deep tech solutions and scientific breakthroughs related to climate and nature, as well as health and well-being. Many leading contenders were prepared to think big, putting forward ideas and solutions that, given the right backing and once scaled, have the potential to change lives on a global scale.
TechCrunch
4 days ago
- Business
- TechCrunch
Rocket Lab backer Outset raises $25M to fund New Zealand's deep tech moonshots
New Zealand's deep tech ambitions just got a $25 million boost. Outset Ventures, the Auckland-based venture firm and incubator that spun out unicorns like Rocket Lab and LanzaTech, has closed its second fund at an oversubscribed $41.5 million NZD. The fund's mission is to back startups working on hard science and engineering breakthroughs – technologies its partners believe New Zealand is uniquely suited to lead. That includes everything from aerospace to medical technology, though Outset is especially focused on energy generation and storage. The firm is betting that New Zealand, while too small to play on the frontlines of AI, can tackle the downstream energy and infrastructure problems that AI is already starting to strain. 'We know that the biggest constraint for AI growth all comes down to who can get the most installed energy the fastest, and so that's where we've ended up concentrating more of our attention,' Angus Blair, partner at Outset, told TechCrunch. Many of the startups in Outset's cohort focus on delivering cheaper, cleaner ways to generate and store energy, recycle heat waste, and address infrastructure bottlenecks that AI is already straining, per Blair. One emerging Kiwi leader has been OpenStar, a nuclear fusion startup that's working on levitated dipole reactors, and is one of the few from Outset's Fund I cohort to also receive funding from Fund II. The firm reached an important milestone last November when it created superheated plasma at temperatures of around 540,000 degrees Fahrenheit – an important step towards producing fusion energy, and one that took only around $10 million to get there as compared to many decades-long government-led initiatives in the fusion space. Then there's EnergyBank, which is building long duration energy storage for floated offshore wind that's best suited for deeper waters. Blair said the firm's solution is a perfect complement to the many plans to install more floating offshore wind farms in regions like the North Sea. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW 'If you can firm that power, that power is worth a lot more, and so adding that long duration energy storage can increase the profitability of those assets by about 50%,' Blair said. 'It also [helps] power data centers and the rest of the grid, particularly in Europe, which is struggling with grid resiliency.' OpenStar and EnergyBank are just two examples of the kind of moonshot bets Outset is aiming to scale globally. Where Fund I validated deep tech as a viable path for Kiwi startups, Fund II is positioning Outset as a launchpad for companies with hard science at their core and massive international ambition. Part of that mission is backed by the firm's 60,000 square-foot facility in Auckland, which gives portfolio companies access to lab and engineering gear that's otherwise hard to come by. In a country where early-stage capital and technical facilities can be limited, this kind of vertical integration is a key part of how Outset de-risks deep tech. And while the fund's $25 million might sound modest by Silicon Valley standards, Blair says it's well-sized for New Zealand's tight-knit ecosystem. 'We've got really capital efficient businesses down here, and so it goes a remarkably long way,' Blair said. The country's startup funding environment has always leaned toward capital efficiency and high technical quality over blitzscaling. In 2023, venture investment in New Zealand declined amid inflation, global economic uncertainty, and reduced appetite from more cautious offshore investors. But 2024 saw a rebound, with venture and early-stage investment reaching $350 million ($587.6 million) – a record high and a 53% jump from 2023. Outset's own LP mix reflects this dynamic: about two-thirds of Fund II comes from local institutional and private sources, while the rest is from international high-net-worth individuals, many of whom have relocated to New Zealand later in their careers and are investing in its future. And even though Kiwi startups have drawn interest over the past few years from heavy-hitting global firms like Bessemer, DCVC, Founders Fund, and Khosla Ventures, that kind of international capital remains hard-won. Distance and a smaller local investor base make it more difficult for New Zealand startups to break into global capital networks early, even though access to those networks is essential for scaling. Despite its distance and small size, Blair argues New Zealand is well positioned to tackle some of the world's greatest challenges – and deep tech is where the country already has a track record. 'It's where our biggest wins in the venture-backed space have come from historically,' Blair said. 'So founders and VCs feel they have a lot more license to go and take these big moonshot swings in these really technical domains.'
Entrepreneur
4 days ago
- Business
- Entrepreneur
Deep-Tech Startup Frinks AI Closes USD 5.4 Mn Round Led by Prime Venture Partners
The round also saw participation from existing investor Chiratae Ventures, Navam Capital, and Ashok Atluri, Founder of Zen Technologies, bringing Frinks AI's total funding to USD 6.25 million. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Frinks AI, a deep-tech startup founded by IIT Hyderabad alumni Aditya Agrawal, Dharmgya Sharma, and Subhra S. Bhattacherjee, has raised USD 5.4 million in a Pre-Series A funding round led by Prime Venture Partners. The round also saw participation from existing investor Chiratae Ventures, Navam Capital, and Ashok Atluri, Founder of Zen Technologies, bringing Frinks AI's total funding to USD 6.25 million. The company plans to deploy the new capital to expand its Vision AI platform across global manufacturing markets, invest in cutting-edge R&D, and build a strong presence in the US—one of its key target geographies. It is also forging strategic go-to-market partnerships with OEMs and automation firms to scale adoption. "With ongoing supply chain disruptions and rising global trade tensions, we're seeing a strong push toward localised manufacturing as countries prioritise internal consumption," said Aditya Agrawal, CEO and Co-founder. "This marks the beginning of a new industrial revolution—one powered by advanced technologies that drive higher productivity and cost efficiency. Frinks AI is at the forefront of this transformation." Frinks AI specialises in building foundational Vision AI models tailored for visual inspection and quality control in manufacturing. These systems, backed by over five years of deep research, provide manufacturers with highly accurate, generalisable AI solutions. By combining foundational models with in-house fine-tuning using minimal data, Frinks guarantees up to 99.99% inspection accuracy. "Visual inspection in manufacturing has existed for decades but has long been limited by rule-based systems," noted Brij Bhushan, Partner at Prime VP. "Frinks' proprietary models dramatically improve applicability and reliability. We're excited to support their journey to scale globally." Frinks AI's no-code platform empowers manufacturers to automate inspection workflows, integrate seamlessly with existing infrastructure, and deploy at scale. Currently operational across 1,000+ production lines worldwide, its technology is used in industries including automotive, consumer goods, building materials, cement, steel, and medical devices. Customers have seen significant improvements in defect reduction, product consistency, and throughput. Strategic support from leaders such as S Ramadorai (former MD & CEO, TCS), Dr V Sumantran (former Executive Director, Tata Motors), and Dr Gopichand Katragadda (former Group CTO, Tata Sons) reinforces Frinks AI's mission to revolutionize factory floors with intelligent automation. Frinks AI is not just building tools—it is enabling manufacturers to achieve flawless production, drive global competitiveness, and future-proof operations in an era of AI-led industrial evolution.
Arab News
23-05-2025
- Business
- Arab News
Saudi Arabia's bet on deep tech to shape future of energy
Saudi Arabia stands at a pivotal juncture, embarking on a profound economic and technological transformation aimed toward building a knowledge-based economy. Central to this ambitious vision is the development of the deep-tech sector, representing the intersection of advanced scientific research and emerging technologies capable of reshaping entire industries. The Kingdom's ecosystem is now recognized among the leading startup destinations in the Middle East, commanding significant venture funding and deal volume. What distinguishes Saudi Arabia's deep tech ecosystem is its integration with national energy ambitions — where startups are not just building apps or hardware, but tackling frontier challenges in grid resilience, hydrogen innovation, and sustainable infrastructure. Saudi Arabia's planned increase in research and development spending — targeting approximately 2.5 percent of gross domestic product by 2040 — reflects a robust commitment to innovation with expenditures already rising by 17.4 percent to around $6 billion in 2023, alongside a notable 22.1 percent increase in the number of active researches, representing a tenfold increase from $2.4 billion in 2019 to nearly $28 billion by 2040. Despite such promising developments, considerable hurdles remain. Deep tech ventures inherently involve substantial initial capital, extended development timelines, and complex market-entry barriers. Local venture capital, while growing, remains relatively limited compared to established ecosystems such as Silicon Valley or Shenzhen. The scale of private sector engagement, crucial for mature innovation ecosystems, has not yet matched the magnitude of governmental investments. Furthermore, Saudi Arabia's talent pool, although improving through expanded STEM initiatives and eased visa regulations for foreign experts, still faces deficits in specialized, advanced skills essential for scaling deep tech ventures, particularly in areas such as quantum computing, advanced materials, and sophisticated semiconductor industries. Globally, Saudi Arabia can glean insights from deep tech ecosystems in the US, China, and Europe. Silicon Valley thrives through robust private investment and close collaboration with leading research universities, whereas Shenzhen leveraged state-driven economic zones to build deep technological expertise rapidly. Europe, especially Germany and France, emphasizes public-private partnerships, industrial research hubs, and strategic R&D tax incentives. Saudi Arabia is uniquely positioned to blend these distinct strategies: it already employs special economic zones like NEOM and proactive regulatory reforms and aims to be a global talent hub. Saudi Arabia's Vision 2030 framework acts as an enabling platform, aligning cross-sector investments with national innovation objectives while embedding sustainability and resilience at its core. Accordingly, these efforts significantly contribute to the Kingdom's GDP and employment opportunities, offering high-quality jobs in advanced sectors and reducing reliance on traditional industries. This supports the Kingdom's national pledge of achieving net-zero emissions by 2060, alongside its ambitious goal of generating half its electricity from renewable sources by 2030, which fundamentally hinges on breakthrough deep tech solutions in renewables integration, grid-scale storage, carbon capture, and utilization technologies. As Kenneth Gillingham, professor of Economics at Yale University explains: 'Reducing domestic consumption of fossil fuels allows energy-exporting countries to redirect valuable resources toward export markets, thereby supporting national economic resilience. For Saudi Arabia, this shift also aligns with the broader imperative of global decarbonization. Deep tech, particularly in areas like grid optimization, energy storage, and emissions management, may prove to be a critical enabler in achieving and sustaining these dual objectives.' This insight underscores the dual opportunity for Saudi Arabia: securing economic gains through increased exports while simultaneously accelerating its transition to a low-emissions future through strategic advancement of its deep tech sector. To continue strengthening its position in the global deep tech landscape, Saudi Arabia must adopt several key strategies. First, incentivizing substantial private venture capital participation is critical. Co-investment schemes and targeted tax incentives could spur greater private engagement, reducing the Kingdom's reliance on state financing alone. Second, talent cultivation should be significantly deepened through specialized university-industry collaborations, expanded international scholarships in frontier tech domains, and proactive efforts to attract and retain international expertise. Third, regulatory sandboxes should be more aggressively deployed to expedite testing and commercialization of energy breakthroughs, particularly in renewable integration, hydrogen technologies, and carbon management. Fourth, the Kingdom should elevate global partnerships, fostering intensive collaborations with renowned global research institutions in the US, Europe, and China to drive innovation and integrate Saudi deep tech ventures into international supply chains. Fifth, enhancing access to advanced testing facilities, prototyping labs, and deep-tech incubators can shorten development cycles and strategically improve investor confidence. Deep tech plays a pivotal role in reducing unemployment by fostering high-value industries that require specialized skills. As these sectors expand, they absorb a growing pool of highly educated Saudi graduates, addressing structural employment challenges highlighted in recent studies on the Kingdom's transition to a knowledge-based economy. If nurtured with foresight and coordination, Saudi Arabia's deep tech revolution could become a cornerstone of its economic competitiveness and environmental leadership and sustainable development in the decades to come. • Hamad S. Alshehab is a strategic adviser to NGOs focused on empowering youth and community development in Saudi Arabia. He is experienced and specialized in areas including control systems, digital transformation, entrepreneurship, innovation, investments, and economics. • Hassan M. Alzain is pursuing a master's degree in environmental management at Yale University and is the author of the award-winning book Green Gambit: Climate Change, Climate Policy and the Race Against Time. He is experienced in areas such as sustainability reporting, climate policy, environmental technology, and data assurance.
Entrepreneur
22-05-2025
- Business
- Entrepreneur
Titan Capital Targets India's Deep-Tech Defence Startups with New Investment Vertical
This new initiative focuses on empowering startups innovating in aerospace, cybersecurity, advanced hardware, and next-gen manufacturing. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a move set to redefine India's startup ecosystem, seed-stage venture capital firm Titan Capital has launched a dedicated investment vertical to fund startups at the forefront of India's defence and strategic technology space. "We are at a historic inflection point where national security, deep-tech innovation, and startup agility are converging," said Kunal Bahl, Co-founder of Titan Capital. "India cannot achieve true self-reliance in defence by relying on imports or public funding alone." This new initiative focuses on empowering startups innovating in aerospace, cybersecurity, advanced hardware, and next-gen manufacturing. It aims to not just boost national security, but also position India as a net exporter of high-impact, dual-use technologies. Titan's mission is clear: catalyze deep-tech solutions that are sovereign, scalable, and strategic. "We need to back our brightest minds—engineers, researchers, and builders—to create sovereign technologies that shape the future of global defence," Bahl emphasised. In addition to funding, Titan seeks to collaborate with veterans, scientists, and technologists, bringing unmatched domain expertise to guide startups through uncharted terrain. This holistic approach could bridge the capital gap plaguing early-stage companies working on complex, high-reward innovations. Globally, venture capital is already leaning into defence-tech. US-based Anduril raised USD 1.5 billion, while Europe's Helsing attracted €450 million. Now, with India's defence budget swelling to INR 6.81 lakh crore and initiatives like iDEX and TDF gaining traction, Titan Capital is stepping in to ensure India doesn't miss its moment. With a portfolio of 250+ startups including Ola and Razorpay, Titan Capital's new vertical signals more than just investment—it's a bold bet on the intersection of purpose, technology, and nation-building.
