Deep Tech
Capital and finance structures built for long R&D cycles, where revenue arrives years after the science does.
Deep tech breaks the standard venture timetable. The science takes years, the first customer takes longer, and the metrics investors normally underwrite — ARR, payback, CAC — do not exist yet. Founders are asked to prove commercial traction with a lab and a patent filing.
The capital that fits this shape is rarely one instrument. Government innovation grants and R&D schemes carry the early technical risk without dilution, deep-tech and corporate venture funds come in once the physics is settled, and venture debt bridges to the first contract. Sequencing those correctly is worth more than raising any one of them well.
We help deep-tech founders build a capital plan matched to technical milestones rather than calendar quarters, and a finance function that can survive the diligence of an investor who will read the patent as carefully as the P&L.
How we work in Deep Tech
What the engagement usually looks like
Milestone-linked capital plan
Map grants, venture debt, and equity to technical milestones instead of arbitrary rounds, so each raise is priced against proof that already exists.
Non-dilutive first
Identify and apply for the innovation grants and R&D schemes that carry early technical risk before equity has to.
Technical diligence readiness
IP position, capitalised R&D treatment, grant compliance, and a data room that answers a technical partner's questions, not just a generalist's.
Capabilities
Where this work sits in the studio
- Government Grants & SchemesIdentifying, applying for and staying compliant with the non-dilutive government funding a business already qualifies for.Read more
- Strategy SprintsShort, structured sprints that size the market, test the pricing and validate the model, before a long report or a raise.Read more
- FP&AFinancial planning and analysis frameworks that turn a budget into a decision-making instrument.Read more
Looking for the programmes themselves? See which government grants and schemes you qualify for.
Talk to someone who knows the sector
Tell us where the business actually is and we will tell you what we would do first. No deck required.