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What Do We Mean When We Talk About Deep Tech

Deep tech refers to technologies focused on areas like artificial intelligence, robotics, blockchain, biotech, and quantum computing rather than end-user services. While deep tech has long been an area of investment, it has experienced periods of both favor and obscurity depending on broader tech trends. Now, with major tech companies established as winners, interest in deep tech startups is rising again as investors seek technologies that can drive significant change and solve hard problems. Investments in deep tech grew 20% annually from 2015 to 2018, totaling nearly $18 billion. One example is Grove Ventures' recent $125 million fund and plans to raise another of the same size to invest in European deep tech startups.

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23 views

What Do We Mean When We Talk About Deep Tech

Deep tech refers to technologies focused on areas like artificial intelligence, robotics, blockchain, biotech, and quantum computing rather than end-user services. While deep tech has long been an area of investment, it has experienced periods of both favor and obscurity depending on broader tech trends. Now, with major tech companies established as winners, interest in deep tech startups is rising again as investors seek technologies that can drive significant change and solve hard problems. Investments in deep tech grew 20% annually from 2015 to 2018, totaling nearly $18 billion. One example is Grove Ventures' recent $125 million fund and plans to raise another of the same size to invest in European deep tech startups.

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fred
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What do we mean when we talk about deep tech?

techcrunch.com/2020/03/11/what-do-we-mean-when-we-talk-about-deep-tech/

A conversation with Grove Ventures' managing partner (and the


inventor of the USB flash drive) Dov Moran
Ingrid Lunden @ingridlunden / 5 months

Deep tech — the generic term for technologies not focused on end-user services that
includes artificial intelligence, robotics, blockchain, advanced material science,
photonics and electronics, biotech and quantum computing — has been an identified
category for investment as long as the tech industry itself.

But as with many other sectors, it has found itself in and out of favor depending on the
wider climate. In the years when mainstream tech adoption started to take off, under-
the-radar deep tech became even more obscure as big-ticket apps and other services
and gadgets popular with consumers received all the limelight.

Now, with “winners” in that bigger category climbing to new heights — it’s hard to
imagine anyone replacing Facebook, Google, Apple or Amazon anytime soon, even as
other apps grow in niche popularity — the enthusiasm of taking bets on consumer
startups has leveled off. Coupled with that, investors are again looking at startups
focused on a more diverse set of technologies that solve hard problems, which might
prove to be the levers of instrumental change.

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Those trends have contributed to a rising interest in deep tech, with investments in the
wider category growing 20% annually between 2015 and 2018, culminating in nearly
$18 billion of investment, according to a 2019 report from Boston Consulting Group.

One measure of the enthusiasm in the space is the activity of VCs who focus on deep
tech. Last month, Tel Aviv-based Grove Ventures, which funds companies spanning
Europe and beyond, closed a $125 million fund to back deep-tech startups and is
already raising another fund of the same amount. Firms that Grove has backed include
fabless IoT semiconductor startup Wiliot, API marketplace RapidAPI, autonomous
vehicle startup TriEye, next-generation manufacturing startup 3DSignals and a number
of startups still in stealth.

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