Elaia is Backing Europe's Deep Tech Future with Deep Tech Seed Fund 3

Elaia, backing ambitious tech entrepreneurs with capital and care, has closed its third deep tech seed fund (DTS3) at €134 million, double the size of its previous deep tech seed funds. Developed in partnership with leading European research institutions, including PSL, INRIA, CNRS, the Barcelona Supercomputing Center, and also the Max Planck Foundation, DTS3 reflects strong investor confidence in Europe's growing deep tech ecosystem.   

Since its first close of €60 million in March 2024, DTS3 has deployed capital across 11 portfolio companies in computing, life sciences, and industrial innovation. The fund plans to invest €1M–€13M in pre-seed and seed-stage B2B startups across Europe, partnering with founders at the earliest stages.

Partnership with Europe’s Leading Research Institutions

“DTS3 builds on a partnership model from the PSL Innovation Fund and Elaia Alpha II Fund, which produced notable outcomes including Aqemia, Alice&Bob, and Mablink Bioscience, acquired by Eli Lilly,” said Anne-Sophie Carrese, Partner at Elaia. “Collaborations with Europe’s top research institutions provide early access to breakthrough technologies and exceptional founding teams. Innovation across hubs from Zurich to Paris is accelerating, with European deep tech reaching escape velocity.”

“Deep tech investing is in Elaia’s DNA, and previous fund performance validates the timing to scale,” said Xavier Lazarus, Managing Partner at Elaia. “DTS3 embodies an international ambition, backing founders across Europe. Repeat investor support confirms the approach, and the fund is actively deploying capital to ambitious entrepreneurs shaping Europe’s next generation of deep tech companies.”

Investing Across Europe’s Deep Tech Strengths

DTS3’s initial investments span France, Germany, Spain, the UK, Switzerland, and other European markets, reflecting the region’s combination of world-class research and commercial ambition. The fund backs companies addressing critical bottlenecks in next-generation infrastructure, including:

• Proxima Fusion (Germany): Stellarator-based fusion power plants aimed at clean, limitless baseload energy, positioning Europe as a leader in commercial fusion by the 2030s.

• GetVocal (France): Fully auditable conversational AI agents for enterprise support, enabling trustworthy hybrid human-AI workforces with real-time oversight.

• Biophta (France): Topical ophthalmic inserts replacing daily eye drops and injections for conditions such as glaucoma and macular edema.

  
  

DTS3’s final closing includes support from historical and new investors, including PSL Université, INRIA, Bpifrance under France 2030, MGEN, Famille C Participations, BNP Paribas, MACSF, and Institut Pasteur, with advisory support from Lazard Frères Gestion throughout the fundraising process.

What’s Next

With 11 investments completed and strong momentum, DTS3 will continue deploying capital throughout 2026 across three core areas: the future of computing (AI, cybersecurity, semiconductors/photonics, quantum), the future of industry (physical AI, robotics, materials, energy), and the future of life sciences (biotech, digital health, medical devices).