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Rocket Lab backer Outset raises $25M to fund New Zealand’s deep tech moonshots
Outset Ventures has secured $25 million for its second fund to support New Zealand deep tech startups, focusing on energy solutions and infrastructure. The firm's investments aim to address challenges connected to AI and energy demand while showcasing local innovations like nuclear fusion and offshore energy storage, marking a new era for Kiwi tech aspirations.
Key points
- Outset Ventures raised $25 million to support deep tech startups in New Zealand.
- The funding will focus on breakthroughs in energy generation, storage, and infrastructure.
- Outset sees New Zealand as suited to tackle downstream challenges influenced by AI growth.
- Emerging startups like OpenStar and EnergyBank showcase potential innovations.
- Investment in New Zealand's startups has recently rebounded, hitting $350 million in 2024 after a decline in 2023.
Why it matters
- NZ's startup funding environment has struggled but is recovering, with increased interest and investment.
- Deep tech investment aligns with global trends focusing on energy sustainability and resilience.
- The increasing complexity of AI requires corresponding energy solutions, making such startups crucial.
The $25 million funding reflects a strategic move by Outset Ventures to catalyze New Zealand's deep tech scene, positioning local startups to tackle critical energy and infrastructure challenges amidst growing global demands.