Top 20 Deep Tech & Hard Science Venture Capital Firms

Deep tech venture capital is on a rapid rise. Poised to expand at an 18.7% CAGR until 2034, it’s a golden opportunity for tech startups seeking investment.

In this article, you’ll find a curated list of top deep tech & hard science VC investors (many of them are our partners) alongside their investment criteria and contact details.

Also, learn about deep tech industry trends, notable startups and exits, the most active VC funds and angels, and accelerator programsᅳall to streamline your fundraising efforts and drive business success.

Most active VC funds in deep tech & hard science industries

Deep tech and hard science have historically attracted billions of dollars in investment. Currently, there are over 120 established hard tech venture capital firms, some with decades of experience and substantial AUM.

One of the leading is Princeton’s SOSV, a deep tech investment powerhouse with $1.5B+ AUM. Its portfolio includes 8 unicorns, 58 IPOs, and 200+ early-stage deep tech, planetary health, and human health ventures backed. 

The next VC is NY-based Lux Capital. Invests in early-stage AI, biotech, and neuroscience companies. With 20+ years of expertise, 66 IPOs, and $5B AUM, they offer deep industry insights and a strong network. 

Finally, Trinity Ventures, a veteran SF VC (founded in 1986), invests in early-stage cloud, SaaS, and tech firms. It has a track record of 464 investments, 142 exits, and $2.2B in funds.

Most notable startups in deep tech & hard science industries

In 2024, there are 517 deep tech unicorns, and some are ranked in XB100 — the list of the world’s top 100 private deep tech companies made by XPRIZE and Bessemer Venture Partners. Among these are Space X, Northvolt, Graphcore, and more.

Some other noteworthy deep tech and hard science startups include:

Aquafortus uses a novel chemical approach and is developing a process to treat and clean wastewater using significantly less energy than all other existing solutions.

KRY10 builds secure operating systems for industrial IoT, enhancing critical infrastructure protection and boosting productivity across industries.

BioLumic uses a novel UV seed treatment to boost yields and disease resistance in various crops, increasing focus as the world’s population continues to grow and climate change bites.

Startup accelerators in deep tech & hard science industries

Alongside traditional deep tech & hard science VC funds, there are numerous accelerator programs worth exploring:

• Techstars runs three-month accelerator programs worldwide, helping various fields and hard tech startups to raise an average of $1M in first-round funding after graduation. Notable alumni include Syntiant and Pillar Technologies.

• Creative Destruction Lab is a nine-month program for science and technology startups in various Canada, the USA, and the UK locations.

• SOSV accelerator programs ᅳ a venture capital firm with accelerators in San Francisco, Shenzhen, Cork, and New York, invests $150K to $500K+ in deep tech and hard science startups through programs like HAX, IndieBio, and RebelBio (duration varies).

• The Engine is a flexible, multi-year deep tech accelerator program founded by MIT.

It provides long-term capital, lab space, and a supportive ecosystem for early-stage companies.

Deep tech & hard science angel investors

While angel investors usually fund early-stage startups with amounts ranging from $25K to $1M, which might not cover all your upfront R&D costs, there’s still a big advantage to tapping into angel deep tech investors. They can offer valuable resources beyond just money.

Some prominent deep tech & hard science angel investors include:

Marc Andreessen, the co-founder of Netscape and Andreessen Horowitz, has backed a number of deep tech startups, such as Oculus VR and OpenAI.

Amit Karp, a partner at Bessemer Venture Partners, strongly focuses on AI, machine learning, and enterprise software startups. Recently, partnered with Walden Catalyst, it has poured $16M into Clarity, an AI-based deep fake security platform.

Daniel Ek, co-founder and CEO of Spotify, is also an angel investor in deep tech startups. Recently, he invested in HJN Sverige, an AI company for health diagnostics.

Recent VC exits in deep tech & hard science industries

Deep tech businesses are capital-intensive and have long exit timelines, so investors need to consider the high opportunity cost of capital first. In fact, there were 3,588 exits in deep tech just in 2024, and a quarter of those 16 unicorn exits were in 2023.

Recent successful exits in the hard tech industry include Tenstorrent, an AI hardware startup helmed by engineering luminary Jim Keller. On February 24, it announced that it raised $100M in a convertible note funding round co-led by Hyundai Motor Group and Samsung Catalyst Fund.

The next is Amprius, a developer of high-density batteries, which exited with $45.8M in cash, no debt, and expectations to invest further in manufacturing capacity in 2023.

Deep tech & hard science industries venture capital ecosystem

The deep tech startup ecosystem thrives on experiments, grants, and patent portfolios. Unlike traditional high-tech or general tech firms that often rely on pre-existing solutions, deep tech ventures pioneer technology development from inception. To reach unicorn status, a startup needs a median of $115 million in funding and 5.2 years.

We see a huge rise in sustainable impact on deep tech. Thus, 97% of startups contribute to the UN’s sustainable development goals. Moreover, the number of climate-focused venture firms increased from 50 to 350 between 2020 and 2024 — many of which overlap with top energy venture capital firms.

Historically, being generously backed by the government (rocket and internet development), it has been more like a facilitator than the originator. Now, private R&D takes the lead, with governments acting as crucial facilitators through funding, non-dilutive options taking the stage, and policy tools.

Government grants, such as the US SBIR, poured about $2.5B per year for early-stage R&D. In 2018 alone, there are 1,500+ universities and research institutions fueled by deep tech with government grants.

Deep tech companies, often founded by PhDs with strong patent portfolios, create ‘technological moats’ that average 122 patents for XB100 companies.

These moats provide significant value and protection from competitors even before commercialization.

Deep tech innovation is concentrated in the USA, Singapore, Southeast Asia, and Europe, with key activities in Bristol, Riyadh, and Cork. The US and China lead with 81% of global private deep-tech investments.

Prepare to play hard to secure funds

Over the last decade, deep tech and hard science companies have been used as weapons against labor shortages, supply chain disruptions, global chip dependency, and the climate crisis. This all has fuelled investors’ confidence in the long-term potential of science-based solutions — from aerospace and space ventures to quantum computing.

To prove your potential to VCs, start with building a business plan focused on cost-effective, sustainable growth to ensure your venture’s longevity. Craft a compelling narrative in your pitch deck that clearly explains your solution’s impact. If you’d like expert guidance on navigating this process, contact the Waveup team.