Humba Ventures has raised $40 million to focus on deep tech and defense tech startups, a sector witnessing record investment in 2024 with nearly $3 billion raised by such companies.
Susa's co-founder Leo Polovets emphasized the differing evaluation criteria for investments, stating that while fintech focuses on distribution and market fit, deep tech's viability hinges on technology and team quality.
Polovets faced a complex decision when raising funds, opting to avoid international money from certain countries to align with Humba's focus on U.S. government contracts.
The consensus during fundraising discussions was clear: prioritize investments from countries like the U.S., U.K., New Zealand, Australia, and Canada, avoiding affiliations with China or the Middle East.
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