Download at www.sosv.com. Key trends in 'Deep Tech' covering 💡IoT 🤖Robotics 🏥Health Tech 🚀Frontier Tech and 🔬Biotech. Made by the SOSV team.

1. DeepTech
Trends2019
sosv.com/deeptechtrends

2. DeepTech
Trends2019
Introduction
A growing number of researchers, scientists and engineers
are starting companies. Many of them engage in ‘Deep Tech’,
the combination of software and science.
They solve problems of high complexity and high value
in sectors such as agriculture, energy, industry and health,
covering many of the UN Sustainable Development Goals.
At SOSV, our mission is to help solve the world’s most
pressing problems -- funding and mentoring startups that
bring positive change at a grand scale, tackling human and
planetary health, and improving the quality of life for all.
This document shows that solutions are on their way!
DeepTech
Trends2019

3. Our VC fund specializes in prototype-stage deep tech
startups. We sometimes see emerging trends before others.
This document is based on publicly available sources
and on our own insights. We own equity positions
in many of the companies referenced (see next page).
This document does not constitute an offer to sell securities
or a solicitation for investment, which can only be made
by the delivery of specific documents to accredited investors.
Furthermore, this document does not constitute investment
advice, an offer to provide such advice, or a basis for making
any investment decision.
Disclaimer
SOSV invests in about
150 startups / year
This document is for
information only
This document is made available,
and may be updated, at www.sosv.com
DeepTech
Trends2019

4. DeepTech
Trends2019
SOSV
Startups
Quoted
OVERVIEW CONSUMER HEALTH B2B BIOTECH BIOTECH
Avidbots Bowl BBB AiSight AlgiKnit New Culture
BitMex Kegg Biopsin Apix Because Animals New Wave Foods
FormLabs Lilu Bisu Avidbot BeeFlow NotCo
Geltor Looking Glass Bitome Clean Robotics BiomeSense OpenTrons
GetAround Makeblock Bravrr Craft Robotics Cambridge Crops Perfect Day
Jump Bikes Minut Caura EIO Diagnostics Catalog Prellis Biologics
Makeblock Nura Criam Elephant Robotics Chronomics Serenity Bioworks
Memphis Meats Oasis Elapta Forward Robotics Clara Foods sRNAlytics
Nura PetCube Feel Japet Convalesce Stamm
Perfect Day Presso Flow Neuroscience Mechasys Diadem Biotherapeutics Sun Genomics
Simbe Robotics PushMe FoodMarble Nordetect Digi.Bio SyntheX
RayBaby Kokoon Novo Nutrients DNA Lite Tinctorium
Sprite Robotics Labrador Systems Nuada Electro-Active Wasteless
Youibot Lief Therapeutics Plecobot Endless West
Mindset Rebartek Finless Foods
Moona ShapeMeasure Gavilan Biodesign
Nerv Smart Shepherd Geltor
Pinpoint SmarTex Jungla
Sana Health Somatic Lingrove
Zennea TensorField Livin Farms
Unspun Lupa Bio
Viabot Memphis Meats
VoltStorage MycoWorks
Wastack New Age Meats
Youibot

5. About SOSV
Deep Tech & Hand-on
Global early stage
Deep Tech fund
Programs with Labs & Experts
for Hardware, Biotech, Food…
$650M AUM (new $250M fund)
>800 startups +150/year

6. DeepTech
Trends2019
Ireland
Back office
London
Biotech
Paris
Liaison
Taipei
Mobile
Shanghai
Cross-border web
Shenzhen
Hardware
SF
Hardware
Biotech
NYC
Food
Blockchain
Tokyo
Hardware
Global Presence

7. FormLabs (3d printing)
GetAround (car sharing)
BitMex (crypto exchange)
Jump Bikes / Uber (e-bikes)
Geltor
Synthetic human collagen
Raised $23m
SOSV Top Startups
DeepTech
Trends2019
Perfect Day
CellAg Dairy
Raised $61.5m
Memphis Meats
CallAg Beef & Chicken
Raised $20.1m
Avidbots
Floor cleaning robot
Raised $26.6m
Simbe Robotics
Retail inventory robot
Raised $26m
Nura
Personalized audio
Raised $21.9m
www.sosv.com/portfolio
Makeblock
STEM robots
Raised $80m
Portfolio Sample

8. Defining Deep Tech
Science & Engineering
“Anything that’s not an app?”
A.I. is everywhere
Bits & Atoms
Electronics or molecules
Deep Tech by any other name
Hard Tech, Extreme Tech, Frontier
Tech, Future Tech…
We picked one!
DeepTech
Trends2019

9. Editing this report
‘Deep Tech' is a broad category
impossible to cover entirely
Comments are welcome!
Some 'formerly deep tech'
consumer categories are
included.
We focused particularly
on categories we invest in
(hardware & biotech).
DeepTech
Trends2019

10. CONTENT
DeepTech
Trends2019
1. Overview
2. Hard Tech: Consumer
3. Hard Tech: Health
4. Hard Tech: B2B
5. Frontier Tech
6. Biotech

11. 01/ Overview
Some first gen pioneers
got the arrows.
Deep Tech unicorns multiply
More funding for deep tech,
VC, CVC and … SoftBank
Second gen more B2B and
B2B2C.
DeepTech
Trends2019

12. $0B
$35B
$70B
$105B
$140B
2015 2016 2017 2018 2019H1
16
242118
26
33
140
86
6161 64
131
78
60
84
USA
China
Europe
VCwinterinChina
afterrecordyears.
Springsoon?
Source: Dow Jones Venture Source
Chinese Government bodies
scaled back LP commitments
to local VCs, but trade war
with US and the new CFIUS*
rules are likely to boost
domestic investment again.
*Committee on Foreign
Investment in the US.
DeepTech
Trends2019
Unit: billion USD

13. EUROPE
Oxford Sciences Innovation (UK) £300m
High-Tech Gründerfonds (Ger/EU) €316.5m
IQ Capital (UK) $300m
Ahren Innovation Capital (UK) $250m
btov (EU) €100m
USA NordicNinja (Nordics & Baltics) €100m
Lux Capital $1.1b Karma Ventures (EU) €70m
Data Collective $725m Elaia (EU) €65m
Eclipse Ventures $500m Adara Ventures (EU) €65m
OS Fund $250m Future Positive Capital (EU) €51m
The Engine $205m Voima Ventures (Nordics & Baltics) €50m
Future Ventures $200m Vito Ventures (EU) €30m
Anzu Partners $150m Apex Ventures (EU) €10m
Bolt $80m
Root Ventures $76.7269m OTHER
Runa Capital $70m Main Sequence Ventures (Australia) $240m
Abies Ventures (Japan) $100m
GLOBAL Beyond Next Ventures (Japan) $50m
SOSV $250m Real Tech Fund (Japan) $18m
Entrepreneurs First $115m Pi Ventures (India) $31m
Hardware Club $50m
Deep Tech VCs
>$5b to invest
Some specialist funds for IoT, medtech, QC, etc.
Many generalists invest in deep tech.
Chinese funds are mostly generalists.
DeepTech
Trends2019

14. New Models
Supporting
Science Startups
i-Corps (~100 locations in US)
7-weeks coaching program
Created by Steve Blank
Focus on customer development
Entrepreneur First (7 countries)
‘Talent investor’
14 weeks program
Team formation + idea validation
Deeptech Founders (France)
6 months part-time program
Focus on customer development
SOSV (global)
‘Hands-on VC’ with experts & labs
3+ months programs
Product & business development
Non-investing Investing
DeepTech
Trends2019
Helping to
Transition from research
Validate a customer need
Identify the Minimum Fundable Milestones

15. Lytro
$216M
Jibo
$72.7M
Anki
$182M
Meta
$73M
Laundroid
$95M
$2.7b of
Failures
Rethink Robotics
$150M
Airware
$118M
Theranos
$1.4B
Daqri
$275M
uBiome
$109.9m

16. 1 in 5 Unicorns is in Deep Tech
DeepTech
Trends2019
LIFE SCIENCES
Henlius
Novogene
Sinocelltech
WuXi NextCODE
CureVac
IronSource
Nanopore
Roivant
10X Genomics
23andMe
Ginkgo BioWorks
Grail
Human Longevity
Indigo Ag
NantOmics
Samumed
Tempus
Envision
Prologium
Northvolt
Ovo Energy
ReNew Power
ChargePoint
Microvast
Rubicon
Sila Nanotech
View
NEW ENERGY
Aiways
BAIC*
Bordrin
Byton
Chehejia
Enovate
Hozon
Leapmotor
Nio*
Singulato
Skywell
WeltMeister
Yinglong
Youxia
Xpeng Motors
Aurora
Cruise**
Faraday Future
Nikola Motor
Otto**
Rivian
TuSimple
Zoox
AV/EV
Hellobike
Mobike**
Bolt
Ola Electric
Bird Rides
Lime
Uber ATG
MOBILITY
Ankon
iCarbonX
United Imaging
Alphaeon
Auris**
Butterfly Network
HeartFlow
Proteus Health
SmileDirectClub
Beyond Meat*
Impossible Foods
HEALTH TECH
NEW FOOD
DJI
Geek+
Ninebot
Ubtech
Nuro
Zipline
Zume
Carbon
Desktop Metal
Formlabs
Magic Leap
MindMaze
ROBOTICS
3D PRINTING
AR/VR
SPACE TECH
OneWeb
Rocket Lab
SpaceX
US
China
RoW 13
33
47
Cambricon
Horizon Robotics
Graphcore
OrCam
Bitmain
Canaan
Ebang
BitFury
IC & SEMI
CRYPTO MINING
IOT
Nest**
Infinidat
* IPO
** M&A
100 Unicorns Soon
Sources: Crunchbase,
Hurun Report, SOSV Analysis

17. Notes: most are B2B
* includes co-investors
SoftBank
Vision Fund
DeepTech
Trends2019
Company Type Sector Funding*
GM Cruise B2B AV tech $2.25B
View B2B Smart glass $1.8B
Nuro HAAS Delivery AV $1B
Zume HAAS Pizza robot $423M
Plenty B2B AgTech $226M
Light Consumer Cameras $186M
Nauto B2B Driving Coach $174M
Brain Corp B2B AV Tech $125M
TOTAL $6.1B*

18. 0
5
10
15
20
25
4 5 6 7 8 9 10 11 12 13
0.5
0.45 0.305
0.03
3.4
8.1
8.9
1.46
1
0.69
1
2
Notable Exits
DeepTech
Trends2019
Time to Exit (in years)
Peloton
SmileDirectClub
Auris Health
Leap Motion
Blue River6 River Systems
CTRL-Labs
ExitMultiple
Beyond Meat
Value in $b
BridgeBio
Huami
PillPack
IPO M&A
Ring

19. 02/ Consumer Tech Trends
The next wave is headed
in every direction
Voice controls
the smart home
From hard tech to commodities?
(trackers, 3d printing, AR/VR)
B2B2C grows
DeepTech
Trends2019

20. 2012 2013 2014 2015 2016 2017 2018 2019
Investments
$1.2B
$1.65B
$2.84B
$2.04B
$1.65B
$1.09B
$0.82B
$0.68B
$2.1B*
*Full-year
projection
Only rounds < $500M.
The largest 2019 round
included is $420M for Juul.
Consumer
hardware
still active
Source: data via Crunchbase
132*
Deals
40
75
131
142 140 135
128
74
DeepTech
Trends2019

21. Trackers
DeepTech
Trends2019
10 years later:
Commoditization
Activity, Heart rate,
Alexa, Spotify, …
Fitbit
(US)
Val: $1b
Huami
(China)
Val: $650m
Apple Fitbit Huami

22. Home
Fitness
Killing gyms?
DeepTech
Trends2019
Tonal
Connected fitness
Raised $90m
Peloton
Connected exercise bikes
Raised $994.7m (market cap: $6.25b)
Hydrow
Connected rowing
Raised $32m
Mirror
Home fitness
Raised $40.8m

23. 3D Printing
The hype is long gone
Stratasys
Val: $1.24b
Consumer 3D pPrinters
From $500 to $5,000 DeepTech
Trends2019

24. 3D Printing
B2B2C is real
SmileDirectClub
Tele-dentistry
Val: $7b
DeepTech
Trends2019
Chanel
Mascara

25. Smart Speakers
200m+ units
A.I.-enabled IoT boom
Amazon
60%
Google
25%
Apple
5%
DeepTech
Trends2019
Other
10%
Plug Light Nest
Ring Sonos Roomba
Bose Garmin Lexus

26. 14%
17%
11%
16%
25%
17%
In China Too
Already in 35m Households
Unit sales 2x US in Q2 2019
Another A.I.-Divide?
Baidu
39.5%
Alibaba
36%
Xiaomi
24.5%
Unit Sales in Q2 2019
China: 12.6 mln
US: 6.1 mln
China Smart Speakers
Market Share Q2 2019
Source: Canalys, Aug 2018
DeepTech
Trends2019
Smart Speakers
Global Market Share
Q2 2019

27. Xiaomization
Amazonization
Commoditization
at breakneck speed
DeepTech
Trends2019
Amazon: Oven, Buds, Frames, Loop,
Glow, Flex, Sidewalk, Samuel L. Jackson

28. Bells
Locks
& Alarms
Home
Security
2.0
Minut
Sound-based
Camera-free security
Raised $10.7m
Level Home
Smart home access
Raised $71m from
Ring
Outdoor home security
Raised $209m
Acquired by Amazon for $1b

29. iRobot
(USA)
>25mln units
Val: $1.85b
P/E ratio: 22
Ecovacs
(China)
>15mln units
Val: $2b
P/E ratio: 28
Consumer
Robotics
Crawlers 1
Androids 0
DeepTech
Trends2019

30. Consumer
Drones
DJI Dominates
The Market
DeepTech
Trends2019
DJI
Consumer & B2B drones
Raised $105m
Skydio
Self-flying drone
Raised $70m
DJI is estimaated to control
over 70% of the market.
Several competitors like
3DR and Parrot exited
the consumer segment.

31. Jibo
$72.7m
Anki
$182m
Makeblock (China)
STEM robots
Raised $80m
Other Consumer Robots
Voice assistants roadkill companion robots
STEM still growing
DeepTech
Trends2019
UBTech (China)
STEM & toy robots
Raised $940m

32. China's A.I. Push
China is the world's largest experiment in A.I. education
China’s new ‘A-B-C-D'
Artificial intelligence
Blockchain
Cloud computing
Data technology
DeepTech
Trends2019
A smart headband to track focus
in a school near Shanghai
Source: WSJ, Aug 2019

33. VR (Consumer)
Sandbox VR (HK)
VR arcade
Raised $71m
Sony, HTC, Oculus…
6M devices in 2019?
Hits: Netflix? Chat? Adult?
Black Box VR
VR gym
Raised $2.5m
DeepTech
Trends2019
Still slow despite 2nd generation devices
Some B2B2C VR for arcades, gym

34. Varjo (High-res VR)
Raised $45.9m
VR (B2B)
Virtual Reality Therapy
Physio, phobias, pain
+ Outpatient tracking
Real Estate Tours
Matterport (cam + soft)
Raised $114M
DeepTech
Trends2019
Training
Maintenance,
surgery,
language,
active shooter
simulations
Training, Touring, Therapy
Applications make sense & multiply

35. AR: B2C new gen >$500
B2B spreads slowly
Magic Leap ($2,295)
Raised $2.6b
Hololens ($3,500)
Glass Enterprise Edition 2
Training, industry, health
$999+
Focals by North
Raised $199.6M
$600+
DeepTech
Trends2019

36. Holograms
OOH ads & desktop solutions
Not Star Wars quite yet
Looking Glass
Raised $13.8m
(On market, $600+)
Light Field Lab
Raised $35m
(Prototype)
HYPERVSN
by Kino-Mo
(On market)
DeepTech
Trends2019

37. Haptics
Applications in automotive, industry,
medecine, and more?
Pixie Dust (Japan)
Various haptics & hologram tech
Raised $51.8m
Ultrahaptics (ultrasound tech)
Raised $85.9M, acquired Leap Motion
Among others:
Femtosecond laser
forms plasma in mid-air
for tangible feedback
DeepTech
Trends2019

38. DeepTech
Trends2019
Lilu
Pumping bra
Elvie
Breast pump
Raised $53.8m
Kegg
Kegel fertility sensor
FemTech
Towards more science

39. DeepTech
Trends2019
RayBaby
Radar breathing monitor
Raised $1.4m
Snoo
Smart sleeper
Raised $33m
Cocoon Cam
A.I. breathing monitor
Raised $4m
BabyTech
Towards more science

40. Peloton
$58/month, 0% APR
Snoo
Buy or rent
Grover
Monthly rentals
for electronics
Raised €60M
DeepTech
Trends2019
Rent vs. Buy
Keeps up-to-date & updated
Nura
Personalized sound
with OTA updates
Raised $21.9m

41. Pet Tech
2.0
PetCube
Treats robots
Raised $14m
Fi — Smart dog collars
Raised $10m
Sprite Robotics
A.I. cat toy
Raised $2.3m
DeepTech
Trends2019
PetSafe
Self-cleaning litter
Sensors
Vision
A.I.

42. Zume
Robotic pizzerias on wheels
Raised $423m
Spyce
Robot cooks & restaurants
Raised $25.9m
Cafe X
Robotic coffee vending machine
Raised $14.5m
DeepTech
Trends2019
Robots for Food
Automation
Customization
Customer Experience

43. Vending
Robots
SOSV Investments
Oasis
BowlPresso
Paper
recycling
stations
Dry cleaning
in a box
Fresh salads
DeepTech
Trends2019

44. Unmanned
Retail
China leads with
micro-retail
CVS, gyms, karaoke,
nail salons & more
BingoBox
Automated CVS
Raised $94.7m
DeepTech
Trends2019
SuperMonkey
Gyms in containers
$53m series D
M-Bar
Karaoke cabins
Competitors abound
O’2Nails
Nail art printers
16y of nail tech

45. Mobility
AV, EV, Sharing
DeepTech
Trends2019
$7.4B
$9B
$12.4B
$13.5B
$14.3B
$19B
$20.8B
$29.9B
$38.1B
$56.2BE-hailing
Semiconductors
AV sensors and
ADAS components
Connectivity/
infotainment
Electric vehicles
and charging
Batteries
Telematics and
intelligent traffic
Back end/
cybersecurity
HDMI and voice
recognition
AV software and
mapping
Investment since 2010
Source:
McKinsey Analysis,
CapitalIQ, Pitchbook
Need for new
Technologies,
Infrastructures,
Operations
Policies
DeepTech
Trends2019

46. 0
00
00
00
00
China USA Norway Germany France
31,00035,00046,000
209,000
769,000
Source: CarSalesBase, 2018
Electric Vehicles boom in China
Top EV Brands in 2018
EV sales in 2018
DeepTech
Trends2019
486 EV
makers
in China
9 unicorns
$18B invested
since 2011
0
00
00
00
00
Tesla BAIC BYD Zotye
64,000
105,000
150,000165,000
245,000
Renault
Nissan

47. Youibot
Vehicle inspection robots
New infrastructure
needed to extend
uptime and compete
DeepTech
Trends2019
PushMe
Battery tech & network
Raised $1.3m
Gogoro
e-Scooters & charging stations
Raised $480m
Charge Point
#1 EV charging network
Raised $532.2m
Charging, maintenance,
and more

48. 03/ Health Tech Trends
Regulation Include
Remote Monitoring
Reimbursement
Digital Diagnostic
devices multiply
Digital
Therapeutics
DeepTech
Trends2019
Behavior changes
remain challenging

49. 154
283
473
645
606
570
688
860
769
137
$1.2B
$2.0B
$2.3B
$2.8B
$7.1B
$6.2B
$8.3B
$11.7B
$2.9B
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Deal
count
Q1
VC
Funding
$14.68
Source : Startup Health
Record year
for health tech
funding
$14.6B in 2018
incl. $4.1B for devices (+40%)
Surge in surgical robotics.
Biotech IPOs grew too.
Source: Silicon Valley Bank data

50. Successful
companies
improve the
following areas
Access
Cost
Outcomes
Now must-have for successful
fundraising and go-to-market.

51. Bisu
Urine test
For health & fitness
Bitome
Nuclear spectroscopy
for molecular analysis
Criam
Blood test
Blood type & diseases
Blood & Beyond
Microfluidics, point-of-care solutions
Elapta
Various fluids
Molecular testing
BBB
Blood test
Glucose, ketones, cholesterol
Raised $21.5m
Biopsin
Microbial detection
F&B, water, pharma
DeepTech
Trends2019

52. Targeting better outcomes
Less sick, faster recovery, zero readmission
DeepTech
Trends2019
Pinpoint
Robot-assisted insertion
Nerv
Post-surgery
abdominal leak
detection

53. Zennea
Snoring
Sleep Tech
Track, Trigger, Treat
DeepTech
Trends2019
Moona
‘Nest for your head'
Kokoon
EEG headphones
Withings
Sleep tracking mat
Bands, watches
Apple, Fitbit, etc.
Eight
Raised $30m
Bravrr
Bruxism (teeth
clinching & grinding)
TRACK
TRIGGER TREAT

54. Sana Health
Chronic pain relief
Caura
Lactate & glucose tracking
Aire by FoodMarble
Digestive health
Digital Therapeutics
Replacing pills
and lab tests?
DeepTech
Trends2019

55. Lief Therapeutics
ECG smart patch
for stress management
$99/month
Flow Neuroscience
Depression treatment
FDA approved
tDCS stimulation
& virtual therapy app
£399
Mental Health HabitAware
Hair pulling, nail biting, etc.
Top 10 in TIME 2018
MSRP: $149
Feel by Sentio
Emotions sensor
for anxiety, depression, etc.
Raised $6.3m (Clinical trials)
DeepTech
Trends2019
Digital Therapies
machine learning
and biofeedback

56. Labrador Systems
Assistive robot for independent living
Raised $2m
MindMaze (Switzerland)
VR treatment for neurorehabilitation
Raised $110.6m
Rehab & x-Diversity
DeepTech
Trends2019
Wandercraft
Exoskeleton wheelchair for the disabled
Raised $23.4m
For independent living
and supporting physical
and mental diversity

57. An Important Challenge
for Health is Behavior
Understanding impact of
food, sleep, environment…
Avoiding mental triggers,
building new habits.
DeepTech
Trends2019

58. Neural Interfaces
Tracking, Stimulating,
Connecting Mindset
EEG headphones tracking focus
Neuralink (Elon Musk)
Brain-machine interfaces
Raised $158m
CTRL-Labs
Neural monitoring
Acquired by Facebook for $500m+
DeepTech
Trends2019

59. 04/ Enterprise & Industry Trends
Labor crisis in
numerous sectors
Agriculture, Manufacturing,
Construction, Mining are next
Boom in Transportation,
Logistics and Retail
China innovates
on all fronts
DeepTech
Trends2019

60. Amazon
Kiva (acq)
>200,000 units
Last-mile delivery
Pilots
Prime Air
Filed with FAA
Blimp Mothership
Fake!
Balyo (IPO)
Partnership
Canvas (acq)
Autonomous carts
Automates everything.
‘Dark warehouses’soon?
DeepTech
Trends2019

61. Fear of Amazon
6 River Systems
Acquired by Shopify for $450m
Raised $46m
Exotec
High density warehousing solution
Raised $21.2m
Fetch Robotics
Raised $94m
Pushes competitors
toward turn-key and
flexible solutions
DeepTech
Trends2019

62. Construction
Multi-trillion-dollar markets
From design to demolition

63. COBOD
‘Building on demand’
Raised $2.5m
‘AEC’ Tech
Brick & Mortar Ventures
$97m fund for the built world
Architecture
Engineering
Construction
+ Facilities Management

64. Mechasys
Floor plan projection
ShapeMeasure
Precision measuring & cutting
Rebartek
Automated rebar cage prefabrication
Smart tools &
automation
for custom
construction

65. Augmenting
workers
Japet
Soft exoskeleton for
back pain prevention
Raised $1.7m
Nuada
Power glove
for tireless grip
ProGlove
Wearable barcode scanner
Raised $49.1m
DeepTech
Trends2019

66. Operations
Restoration
Demolition
Wastack
Landfill operations
Bird control, 3d mapping
fire, methane leaks
Craft Robotics
Mortar-raking robot

67. Cleaning
Avidbots
Floor cleaning
Raised $26.6m
Plecobot
High-rise windows
ViaBot
Pavement
Somatic
Toilets
DeepTech
Trends2019
Clean Robotics
Trash-sorting robot

68. Industry
2.5 million robots
0
40
80
120
160
China Japan US Korea Germany
273840
55
154
China
Japan
US
Korea
Germany
0 200 400 600 800
328
774
217
327
140
Robots Installed in 2018
(‘000 units)
Source :
International
Federation of
Robotics
DeepTech
Trends2019
2x in 3 years
154
40
Robot Density in 2018
(per 10,000 workers)
+422,000 in 2018
1/3 in China

69. Robots get cheaper but also safer
and easier to set up and re-tool
Source : Markets and Markets - Collaborative Robot Market
Cost of automation
1990 2000 2005 20101995
220
200
180
160
140
120
100
80
60
40
Labor costs
(OPEX)
Robot prices
(CAPEX)
2018 2025
CAGR
50.31%
$710M $12,303M
Collaborative robotics market
Still only 3% of new installations
Source: Economist Intelligence Unit; IMB; Institut für Arbeitsmarkt - und Berunfsforschung;
International Robot Federation, US Social Security Data; McKinsey Analysis
DeepTech
Trends2019

70. Demand for
flexible solutions
Development speed
Integration time
Ease of use
Safety
DeepTech
Trends2019
Elephant Robotics
Collaborative robots
with visual interface
Veo Robotics
Vision, 3D sensing & AI
Raised $28m
Youibot
Mobile applications
in industrial settings

71. SmarTex
Fabric fault detection
Zero downtime
Zero waste
"5 steps
of machine epiphany"
Reactive
Preventive
Predictive
Optimized Health
Optimized Performance
Source: https://www.augury.com/
AiSight
Machine sensors
Unspun
3D-woven custom-fit jeans
DeepTech
Trends2019

72. Drones
go B2B
Dedrone
Drone detection technology
Raised $43.2m
Zipline
Long-range drones (100 miles)
high-value deliveries
Raised $233m
For deliveries or surveying
Longer range, heavier cargo
Agriculture, Oil & Gas, Mining,
Surveying, Defense, etc.
Delair (France)
Industry solutions
Acquired Airware
Raised $14.5m
DeepTech
Trends2019

73. Biocarbon Engineering
Tree-planting drone
300 pods = 1ha in 18min
Raised $2.5m
Dropcopter
Pollination drones DeepTech
Trends2019
Drones
Novel
applications

74. Greenhouse
Gases
45 billion tons / year (CO2 equivalent)
7.5 billion people
= 6 tons / year / person (~20kg / day)
6%
14%
21%
24%
35%
Energy & Heat Production & Processing
Agriculture, Forestry, etc.
Industry
Transportation
Buildings & housing
Full name
Carbon dioxide
Methane
Nitrous oxide
ChloroFluoroCarbons
HydroFluoroCarbons
PerFluoroCarbons
Sulphur HexaFluoride
Nitrogen TriFluoride
GHG Sources GHG by Country
Gaz
CO2
CH4
N2O
CFCs
HFCs
PFCs
SF6
NF3
GHG ‘Sinful Seven’
Quantity
75%
15%
5%
5%
0
5
10
15
0 500 1,000 1,500
9
20
8
215
11 5
China
USA
IndiaEURussia
Brazil
Japan
9
20
8
Population (mln)
GHGEmissions(MtCO2e)
Source: World Resources Institute, 2017Source: EPA, 2018
DeepTech
Trends2019
GWP*
1
30
300
1,000+
*GWP = Global Warming Potential
Source: EPA, 2018

75. Bloom Energy
Solid oxide fuel cells
Val: $386m
Raised $825.7m
VoltStorage
Vanadium redox flow
Residential fuel cells & micro-grid
Energy Vault
Gravity storage
Raised $110m
Energy
Storage &
management
DeepTech
Trends2019

76. Geo
Enginering
Novo Nutrients
Fish feed from
CO2-capturing bacteria
Carbon Capture Technologies
Greenhouse Gas Removal (GGR)
Biochar (charcoal from biomass)
Cool Planet Energy Systems
Biochar-based agricultural products
Raised $235.7m
Carbon Engineering
CO2-capture & synthetic fuel tech
Raised $107.4m
DeepTech
Trends2019

77. Breakthrough
Energy
Electricity
Reliable
Affordable
Zero-carbon
Transportation
EV batteries
New fuels
Light materials
Agriculture
Lower emissions
New proteins
Reduce waste
Deforestation
Manufacturing
Construction,
data centers, paper, etc.
Recycling solutions
CO₂ Extraction
Manufacturing
GHG in Construction,
data centers, paper, etc.
Recycling solutions
CO₂ Extraction
Breakthrough Energy Ventures (BEV)
$1b fund led by Bill Gates
Investing in startups with the potential
to reduce GHG emissions
by at least 500mln tons / year.
Coalition of 18 corporations & 30 billionaires
Research & Invest in New Energy Solutions
to reduce GHG EmissionsDeepTech
Trends2019

78. AgTech
Soil sensors
Automation for
- irrigation
- weeding
- harvesting
Post-harvest
Food safety
harvest
Source: AgTech Landscape 2019
by Seana Day , BetterFoodVentures.com
DeepTech
Trends2019

79. Precision
agriculture
Forward Robotics
Long-range
autonomous VTOL
drones
Blue River Technology
A.I.-based
precision weeding
Acq. by John Deere ($305m)
Tensorfield
A.I.-based
precision weeding robots
Sensors & robots
for better outputs
DeepTech
Trends2019
Nordetect
Portable
NPK soil testing

80. Apix
Automated beehive
maintenance
EIO Diagnostics
Inflammation diagnostic
Internet of …
Smart Shepherd
Pedigree tracker
Bees, cows,
sheep & more
DeepTech
Trends2019

81. High-Tech Breeding
Experiment with
face recognition
to track:
• behavior
• eating
patterns
• overall health
DeepTech
Trends2019

82. China AgTech
Breeding half the world’s 1 billion pigs with A.I.
Face
recognition
China’s Tech Giants
Into Breeding
Netease, Alibaba, JD…
Challenges
(1) Siblings
(2) Fast change
DeepTech
Trends2019
RFID
Tattoo
scan
IR
& motion
Animal tracking
goes high-tech
(3) Facing camera
(4) Dirt
Geese have
small faces
and eyes
on the side

83. 5G
High Bandwidth
Low Latency
Enhanced Security DeepTech
Trends2019
Realistic 4K VR
Requires 1Gbps+
5G will reach 1-20Gbps
Critical remote control
Requires low latency
5G will reach 1ms
'Everything to Everything’
Connecting nachines,
sensors, vehicles & more
Innovation
Enabler

84. 05/ Frontier Tech
Quantum, Fusion & more
for specialists
Aerospace making
progress but still costly
Long timeframes (5y+)
limits VC activity
What will
Elon Musk do?
DeepTech
Trends2019

85. Lilium (Germany)
Raised $101.4m
Ehang (China)
Raised $52m
Flying Cars
Volocopter (Germany)
Raised $89.7m
Dubai, Singapore, Germany
AeroMobil (Slovakia)
Raised €9m
BoeingStartups & corporates
race for safety, autonomy,
launchpads, recharge
and … permits.
Airbus targets Paris in 2024
Uber Air targets Melbourne in 2023
DeepTech
Trends2019

86. Space Tech
Rocket Lab
Small sats launchers
Raised $215m
Viable: launch, sensing, telecom
Not quite: mining, debris, tourism…
< 5,000 satellites orbit the Earth today
~ 35 companies work on launchers
SpaceX Starlink
60 in LEO (target: 12,000)
Estimated cost: $10b
OneWeb
6 in LEO (target: 2,000)
Raised $3b
DeepTech
Trends2019

87. Hyperloops
Hyperloop Transportation Technologies
10km pilot plant in Guizhou, China
Raised $108m (unconfirmed)
The Boring Company
Raised $233m
Virgin Hyperloop One
Pune-Mumbai 120km loop by 2021?
Raised $295m
25 projects
10+ test tracks
Costs & safety concerns remain
DeepTech
Trends2019

88. 'Out There'
Commonwealth
Fusion Systems
MIT startup
Raised $115m
Boom Supersonic
Raised $141m
Commercially viable
within 10 years?
Quantum Computers
IBM, Google, etc.
Up to 160-qubit
D-Wave Raised $204.7m
DeepTech
Trends2019

89. SpaceX (+ Starlink)
Tesla
SolarCity (acq. by Tesla)
The Boring Company
Neuralink
Future of Life Institute (non-profit)
OpenAI (non-profit)
Elon
Musk
Elon Musk projects target either established
or new markets. Several leverage public
funding and subsidies.
$33.3b val.
$46.7b cap.
$2.6b
$920m val.
$158m funding
Think Tank
$1b funding
DeepTech
Trends2019

90. 06/ Synthetic Biology
Proteins are the ultimate
nanobots
Applications in food,
health, pharma, industry…
Building blocks are in place.
Lab tech & cloud speed all up.
In vivo genetic therapies
Longevity research & more
DeepTech
Trends2019

91. DeepTech
Trends2019
DeepTech
Trends2019

92. Cost per
raw megabase
of DNA sequence
Cost of DNA sequencing fell
DeepTech
Trends2019

93. Building Blocks
20,000 known genes
scientists can look up
350,000 proteins
‘on-the-shelf'
250,000 antibodies
ready to order
Low-cost lab robots
& outsourced lab work
DeepTech
Trends2019
DeepTech
Trends2019

94. Gingko Bioworks
Custom organisms
Raised $719m
OpenTrons
Lab automation
Raised $10m
Picks &
Shovels
DeepTech
Trends2019
Digi.Bio
Programmable
micro-fluidics
platform
Stämm
Bioreactor for
continuous
large-scale
production

95. Color Genomics
Genome testing for clinical-grade
hereditary cancer, hearth health,
medication response genes ($250)
Raised $112m
23andMe
Genome research for ancestry,
genealogy, and inherited traits.
Raised $786m
Personal
Genetics
From ancestry
to clinical grade
DeepTech
Trends2019
Chronomics
Epigenetic testing.
Biological age, smoke exposure,
metabolic state.
Raised $1.4m

96. Food
Plants
Algaes
Fungi
Cell-Ag
Sustainable
Functional
Curative
DeepTech
Trends2019

97. Land use per gram
of protein in m2 0.01
0.01
0.02
0.04
0.04
0.05
0.08
0.1
0.13
1.02Beef/mutton
Pork
Fresh Produce
Poultry
Eggs
Dairy
Rice
Maize
Pulses
Wheat
Source: Clark & Tilman, 2017
Looking for Sustainable Proteins
Animal
Protein
Issues
Cost
Taste
Texture
Culture medium (FBS…)
Acceptance
Land
Water
Suffering
Antibiotics
Antibiotic resistance
Alternative
Protein
Issues
DeepTech
Trends2019

98. CellAg Startups Funding
Source: Elliot Swartz @elliotswartz / Good Food Institute, gfi.org
DeepTech
Trends2019

99. Memphis Meats
Beef and chicken
Raised $20.1m
New Age Meats
‘Hybrid' sausages
Plant-based protein
+ Lab-grown pork fat
Raised $3.5m
Food
Meat
from:
Plants
Stem cells
Integriculture (Japan)
Cultured foie gras
Raised $2.75m
Beyond Meat
Plant-based meat
IPO, $7.6b market cap
DeepTech
Trends2019
DeepTech
Trends2019

100. Good Catch
Plant/algae-based tuna & more
Raised $18.7m
Wild Type
Cultured seafood
Raised $16m
Finless Foods
Fish from stem cells
Raised $3.5m
New Wave Foods
Plant/algae based shrimp
Raised funding from Tyson
Food
Seafood
from:
Plants
Algaes
Stem cells
DeepTech
Trends2019

101. Perfect Day
Dairy (on market)
Raised $61.5m
Clara Foods
Egg whites
Raised $16.8m
Food
CellAg
‘Sweets'
DeepTech
Trends2019

102. Perfect Day
Dairy (on market)
Raised $61.5m
Clara Foods
Egg whites
Raised $16.8m
Food
Other
Products NotCo
Plant-based mayo
Raised $30m
Glyph by Endless West
Molecular Whiskey
Raised $12.7m
New Culture
Plant-based cheese with cultured casein
Raised $30m
DeepTech
Trends2019

103. Food
For Animals
Because Animals
Cultured meat and supplements for pets
Ynsect (France)
Insect-based feed for aquaculture and pet nutrition
Raised $172.3m
DeepTech
Trends2019

104. Food
Waste
Avoiding &
Upcycling
Waste
Cambridge Crops
(edible) Food coating (MIT)
Raised $4m
After 10 days
Hexafly
Insect farming & upcycle of food
waste into Aqua feed, Chitin & Plant
Nutrition. Raised $4m
DeepTech
Trends2019
Uncoated Coated
Wasteless
Dynamic pricing RFID
Raised $4.2m
Electro-Active Technologies
Upcycling food waste info hydrogen
using microbes & electro-chemistry

105. Ag Biotech
Soil health,
Plant health
Pollination
BeeFlow
Precision bee nutrition for enhanced pollination
Raised $3.5m
DeepTech
Trends2019
Indigo
Plant microbiome solutions for crop nutrition
Raised $609m
Biome Makers
Designer microbes using DNA sequencing & A.I.
Raised $6.4m

106. Microbiome
& Gut Health
Human microbiome
2 kg of bacterias
1,000+ species
3 mln genes
(150x humans)
Kaleido BioSciences
Microbiome solutions
Raised $165.5m
Eligio Biosciences
Targeted bio-therapeutic
Raised $22.2m
DeepTech
Trends2019
BiomeSense
Microbiome testing & storage
Raised $2m
Sun Genomics
Personalized probiotics
Raised $3m
Gut-brain connection
Emerging therapies
e.g. allergies, autism)

107. Bio-
materials
Bolt Threads
Spider silk & more
Raised $213m
AlgiKnit
Seaweed yarn
Raised $2.2m
MycoWorks
Mushroom leather
Raised series A
Tinctorium
Non-chemical indigo dye
Modern meadow
Biomaterials & ingredients
Raised $53.5m
ZOA™
Cultured
Leather
DeepTech
Trends2019

108. Geltor
Synthetic human collagen
For eye cream, etc.
Raised $23m
Lingrove
‘Wood without trees’’
Moldable, CO2-negative composite of flax fiber & resins
Bio-
materials

109. Deep
Tech
For
Health

110. Biomarkers
For pre-symptom diagnostic
and predictive drug design
sRNAlytics
A.I.-based sequencing for small RNA markers
Raised $2.5m
Grail (Illumina spin-off)
Liquid biopsy for early stage cancer testing
Raised $1.6b
Jungla (acquired for by Invitae for $65m)
A.I.-based clinical interpretation tool of genetic
variant. Raised $2.8m
DeepTech
Trends2019

111. New
Pharma
COMPANY FOCUS COST ADVANTAGE
Convalesce Stem cell therapy for Parkinson's disease & more
Low-cost material and
fast-track designation.
Gavilan Biodesign Resistance-resilient (‘4D’) drug design
Computational biology with
‘wetware-in-the-loop’.
Lupa Bio Anti-inflammatory therapeutics
Leveraging existing data for
fast-track FDA process.
Recursion Pharmaceuticals Treatments discovery
Combining automation & A.I.
with experimental biology,
Serenity Bioworks Immune-tolerant gene therapy platform
Improves gene therapies
by dampening immune reactions.
Startups Challenge
Traditional Pharma
Economics
DeepTech
Trends2019
Easier due diligence
Faster time-to-market
Lower capital needs
Lower downstream dilution

112. Roivant
An unusual biopharma firm
focused on completing the
development of promising
late-stage drug candidates.
DeepTech
Trends2019
• Founded in 2014 in Switzerland
• Most funded biotech company
• Inspired by NantWorks strategy
• Already IPOed 3 subsidiaries
• Japan’s Sumitomo Dainippon Pharma
will pay $3b for various assets..
Company Focus Financials
Roivant Holding $1.9b funding
Axovant Neurology $1.8b IPO
Myovant Endocrine diseases $880m IPO
Urovant Urology $450m IPO
Dermavant Dermatology IPO postponed
Immunovant Autoimmune diseases RTO plans
Enzyvant Rare diseases n.a.
Datavant Healthcare data analytics $85m funding
Sinovant China/Asian markets n.a.
Metavant Cardiometabolic diseases n.a.
Genevant RNA-based therapeutics n.a.
Respivant Respiratory diseases n.a.
Aruvant Hematology n.a.
Altavant Pulmonary arterial hypertension n.a.
Future Vants Within & beyond pharma n.a.

113. Cell & Gene
Therapy
Kytopen
Non-viral delivery of molecules into hard-to-
transfect immune cells
Raised $3.6m
Serenity Bioworks
Immune-tolerant gene therapy platform
DNA Lite
Gastrointestinal gene therapy
Raised $1.5m
Getting past, modulating or
harnessing the immune system

114. Other Biotech
SyntheX
Gene therapy enabler. Screening tech for protein-
protein interaction, including cancer pathways.
Raised $6.4m
Diadem Biotherapeutics
Regenerative biologics, offering easier
manufacturing and longer shelf life.
Gavilan Biodesign
Resistance-resilient (‘4D’) drug design using
computational biology w/ ‘wetware-in-the-loop’.
The platform can search through
100,000 trillion molecular
compound structures per day
Targeting the ‘undruggable’,
and other technologies

115. Frontier
Biotech
Prellis Biologics
3D-printing of vascularized organoids
Raised $10.6m
Catalog
DNA-based
data storage
Raised $9.3m
Storing data in DNA
Bio-printing organoids
Neurons grown
on vascular scaffolds
DeepTech
Trends2019

116. Other Exciting Domains
Longevity Therapies
Inflammation, Cells,
Metabolism, Mitochondria
Pre-symptom
disease detection
Live cell therapies
e.g. precision cancer targeting
Organoids
from research to implants
DeepTech
Trends2019

117. DeepTech
Trends2019
Credits
Editor
Benjamin Joffe
Design
Vitaly Vyazovsky
Lisa Shcheglova
Contributors
Anant Pathak
Bill Liao
Cyril Ebersweiler
Duncan Turner
Garrett Winther
Ji Ke
Jo-An Ho
Kate Whitcomb
Parikshit Sharma
Peter Bodenheimer
Po Bronson
Further thanks
SOSV portfolio startups
and all the participants
in the global deep tech
ecosystem.
Designing Science (Biotech), China Startup Pulse (China/Asia)
SOSV & Program-specific channels
SOSV & Program-specific blogs
Hardware Trends
TechCrunch, VentureBeat
Podcasts
YouTube
Medium
Reports
Articles
Additional Resources

118. DeepTech
Trends2019
SUPPORTS
Research
Academia
Corporates
Investors
Startups
Media
www.deeptechweek.com

119. www.sosv.com/deeptechtrends
Tweet your comments, ideas or favorite slides
#deeptechtrends or @sosvvc
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Trends2019
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