With every new SaaS enterprise platform seeing no end to funding and valuation increases, some investors seem to be looking to the next frontier—or frontier technology—for new opportunities.

“We used to ask ourselves who will invest in this company after us, when we started,” said Peter Hebert, co-founder and managing partner at New York-based Lux Capital which specializes in deep tech. “Now there’s a cornucopia of options after we invest.”

Deep tech—also called “frontier” and “hard tech”—is the term coined for certain areas in sectors like robotics, life sciences and space that rely heavily on advanced scientific knowledge and engineering. Those in the industry say they believe a myriad of issues including COVID, climate change and increased global competition have elevated the space in many investors’ eyes.

“I’m not sure it is more competitive for investors,” said Chris Kim, founder and managing partner at San Francisco-based early-stage deep-tech investor Union Labs. “But there definitely is more attention being paid to the deep-tech space.”

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