[Live @ Supercluster] #4: The state of European climate tech with Eglantine Dupuy (Dealroom)

[Live @ Supercluster] #4: The state of European climate tech with Eglantine Dupuy (Dealroom)

Author: Hugo Rauch December 14, 2025 Duration: 20:49

🌊 Eglantine Dupuy on what the data says about European climate tech.

Why deep tech is winning, VC is retreating, and corporates are stepping in.

We’re joined by Eglantine Dupuy, Research Associate at Dealroom.co, where she tracks Europe’s climate and deep tech ecosystem through one of the most comprehensive data platforms in venture.

In this episode, we take a hard look at European climate tech in 2025, what’s slowing down, what’s quietly accelerating, and why the next wave will look very different from the last.

We covered:

→ Why European climate VC is down ~30% YoY

→ How deep tech now captures ~50% of climate funding in Europe

→ The real cost of deeptech: $100M+ in VC to reach $100M revenue

→ Why Europe struggles at Series B, and how foreign capital fills the gap

→ Corporates vs VCs: who’s actually funding climate innovation now

→ Defense, sovereignty, and resilience rebrands, hype or strategy?

→ Early signals for 2026: biomaterials, circular economy, and AI overlap



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Hugo Rauch hosts New Wave, a podcast that lives at the intersection of business ambition and scientific reality. This isn't about distant predictions or abstract science; it's a grounded exploration of the technologies and companies being built right now to address our environmental future. Each episode focuses on the practical journey, dissecting the models, the breakthroughs, and the hard decisions that define the climate tech landscape. You'll hear from founders, researchers, and investors who are actively shaping this space, getting into the specifics of what works, what doesn't, and why. The conversations move beyond hype to examine the tangible mechanics of creating viable solutions, from energy storage and sustainable materials to carbon removal and regenerative agriculture. It’s for anyone who thinks about the climate challenge not just as a crisis, but as a complex and urgent field of innovation. By tuning into this podcast, you gain a clearer understanding of the economic forces and scientific principles driving the next generation of environmental solutions. New Wave connects the dots between the lab, the boardroom, and the impact we need to see in the world, offering a sober yet optimistic look at where substantive progress is truly being made.
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