Dealroom&NIF：2025欧洲深度科技国防、安全与韧性领域初创企业与风险投资状况报告（英文原版+译版）（36页）.pdf_三个皮匠报告

The state of startups andventure capital February 2025 Leading $1B+ fund investing in Deep Tech forDefence, Security, Resilience. Global startup & venture capital intelligence platform. Dealroom.co is a global intelligence platform for discovering and tracking the mostpromising companies, technologies and ecosystems. Clients include many of theworldʼs foremost organizations such as Sequoia, Accel, Index Ventures, NATOInnovation Fund, NATO Diana, European Defence Fund, ESA, McKinsey, BCG,Deloitte, Google, AWS, Microsoft, Stripe. A standalone venture capital fund backed by 24 NATO allies deploying €1+ billion indeep tech. The NATO Innovation Fund empowers founders to address challenges inDefence, Security, and Resilience, and secure the future of the Allianceʼs citizens. Itfocuses both on direct investments in startups and fund investments. Key focus areas Dealroom partners closely with local tech ecosystem development agencies andenablers, to create a comprehensive multi-dimensional blueprint of the techecosystem, including capital, talent, innovation, entrepreneurship and overalleconomic dynamism. The NATO Innovation Fund invests in emerging disruptive technology areas includingartificial intelligence (AI), autonomy, quantum, biotechnology, hypersonic systems,space, novel materials and manufacturing, energy and propulsion, andnext-generation communications. Key Takeaways Defence drove most of the growth in the sector,but growth also in segments of security andresilience. UK leads with Germany on the rise. Munich is nowthe top hub in Europe. Defence, Security and Resilience funding is on therise in Europe. VC funding in European Deep TechDefence, Security andResilience (DSR)is at an all time high, reaching $5.2B in 2024.Funding is up 24% from last year and is up nearly 5x over the pastsix years. Early and breakout stages in particular are driving thisgrowth, showing a strong pipeline for scaling in the coming years. The UK attracted the most VC funding since 2019, butGermany attracted the most in 2024. France ranks 2nd overalland 3rd in 2024. Most of the growth has come from startups focusing onaddressing challenges in Defence, such as Awareness,Understanding and Decision Making. VC funding in this sub-areareached a record $1B in 2024, up 5x since 2020 and nearly 2x fromlast year. Switzerland and the Netherlands have the highest share of VCfunding going toDefence, Security and Resiliencesince 2019 atover 7%. Defence, Security and Resilienceis growing much faster thanmost VC sectors in Europe. It has seen the strongest growth in thelast two years (+30%), while the overall VC market declined 45%. VC funding in Energy security and climate change rebounded in2024 to over $900M, a bit shy of 2022 peak but still over 4x morethan 4 years ago, driven by mostly by nuclear fission and fusion,and batteries. Munich has risen as the top hubin Europe for VC funding inDefence, Security and Resiliencein 2024. In 2024,Defence, Security and Resiliencerepresented anall-time high 10% of all VC funding, up 2.5x over the past twoyears. It also represented 1/3rd of all Deep Tech funding. Oxford, Paris and Munichare the top hubs in Europe for VCfunding inDefence, Security and Resiliencesince 2019. Quantum and AI chips pushed funding in Protection of CriticalInfrastructure startups to nearly $1B in 2024, a record high on parwith 2023. The UK has 5 of the top 10 hubs(Oxford, London, Cambridge,Bristol, and Reading)followed by Germany with 2(Munich,Berlin). VC funding in European Deep Tech Defence, Securityand Resilience startups by challenge areas VC funding in European Deep Tech Defence, Securityand Resilience startups Defence, Security and Resilience Deep Tech VCfunding in Europe by region ▊Awareness, understanding and decision-making▊Freedom of operations andmobility▊Energy security and climate change▊Protection of criticalinfrastructure▊Supply chain resilience▊Health crisis preparedness ▊$0–1m (pre-seed)▊$1–4m (seed)▊$4–15m (series A)▊$15–40m (series B)▊$40–100m (series C)▊$100–250m (mega rounds)▊$250m+ (mega+) Resilience Supply chainresilience Energy security andclimate change Awareness,understanding anddecision making E.g. novel manufacturing,high-quality semiconductormaterials, critical materialsupply This report focuseson Deep Tech forDefence, Securityand Resilience,addressing six majorchallenges for Alliednations E.g. energy storage solutions,nuclear energy, and watermanagement. E.g. novel solutions tooperating in complexenvironments, land and airsituational awareness andthreat detection Health crisispreparedness Protectionof criticalinfrastructure Freedom ofoperations andmobility E.g. biotechnologies, wateraccess and food supply E.g. quantum technologies, AIand compute hardwareinfrastructure E.g. novel and autonomouscapabilities on the battlefield,space sovereigntyinfrastructure, novel maritimeautonomy. Notable examples of Defence, Security and Resilience startups across the sixchal