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New Zealand’s deep tech sector got a big boost with a $25 million investment from Outset Ventures, a firm based in Auckland known for launching successful startups like Rocket Lab and LanzaTech. Outset Ventures recently closed its second fund at $41.5 million NZD, exceeding its target. The firm is dedicated to supporting startups leading in groundbreaking science and engineering fields such as aerospace, medical technology, energy generation, and storage, believing that New Zealand has a unique advantage in these areas.
Focus on Energy Solutions
Outset Ventures is particularly focused on addressing energy and infrastructure challenges using AI technologies. Many startups in their portfolio are working on developing cost-effective and cleaner energy generation methods, heat waste recycling, and infrastructure enhancements to meet future energy demands.
Spotlight on Innovation
One standout example is OpenStar, a nuclear fusion startup that achieved a significant breakthrough by producing superheated plasma at extremely high temperatures. Another company, EnergyBank, is developing long-duration energy storage solutions for offshore wind farms in deep waters.
Global Impact
Outset Ventures aims to scale these ambitious projects globally. With their second fund, the firm positions itself as a platform for companies with strong scientific foundations and global aspirations. Their 60,000-square-foot facility in Auckland provides essential lab and engineering resources to portfolio companies, addressing the lack of early-stage capital and technical facilities in the country.
Despite challenges like geographical distance and limited local investor support, New Zealand startups have garnered interest from global investment firms. Outset Ventures believes that the country’s focus on deep tech and technical expertise positions it well to tackle global challenges and drive future innovation. The future looks promising for New Zealand’s deep tech industry, with Outset Ventures leading the way in supporting groundbreaking advancements and ambitious projects.
