Outset Ventures has successfully closed its second fund, raising $41.5 million NZD to support deep tech startups in New Zealand. This fund aims to focus on hard science and engineering breakthroughs, particularly in energy generation and storage, which Outset partners believe New Zealand is well-positioned to tackle. Startups like OpenStar, which is pioneering nuclear fusion technology, and EnergyBank, specializing in long duration energy storage solutions, are at the forefront of innovative projects that aim to alleviate infrastructure bottlenecks and cater to the rising demands of artificial intelligence.
"We know that the biggest constraint for AI growth all comes down to who can get the most installed energy the fastest, and so that's where we've ended up concentrating more of our attention."
"Outset is especially focused on energy generation and storage, betting that while New Zealand is too small for frontlines of AI, it can tackle downstream energy and infrastructure problems that AI is straining."
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