This report explores the latest trends in deep tech, VC, university spinouts, and more. It found that European deep tech startups raised $17.7B in 2022, a 22% decrease from 2021. The four main categories in deep tech are Novel AI, Future of Computing, Novel Energy, and Space Tech. Climate Tech also has a growing share of deep tech funding, from 6% in 2016 to 34% in 2022.