TechCrunch Startup News Rocket Lab backer Outset raises $25M to fund New Zealand’s deep tech moonshots
May 28, 2025
Discover how Outset Ventures is shaking up New Zealand's tech landscape with a recent $25 million fund. This venture firm is passionate about nurturing deep tech startups, focusing on hard science and engineering. They aim to tackle global challenges using local expertise. Hear about their journey in spinning out successful unicorns like Rocket Lab. It’s all about innovation and investment in the land of the kiwis!
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NZ Deep Tech Focus on Energy
- Outset Ventures focuses on hard science breakthroughs, especially energy generation and storage.
- New Zealand is uniquely suited to lead in downstream energy and infrastructure challenges of AI.
OpenStar's Fusion Milestone
- OpenStar, an Outset-backed startup, made fusion plasma at 540,000°F with $10M funding.
- This progress contrasts with decades-long government fusion projects, highlighting capital efficiency.
Energy Bank Powers Offshore Wind
- Energy Bank develops long-duration energy storage for floating offshore wind in deep waters.
- Their solution enhances profitability of wind assets by 50% and aids grid resilience in Europe.