Why Hypersonic Logistics & Discussions On A Possible Armageddon - Community Updates, Mar 24
Our Community update, with fresh fund highlights, community events, and deeptech market insights. Written by our AI. Edited by our humans.
In this edition
From the GP update: Our concerns about AI arms race and potential risks of autonomous coding systems, recommending reading: ai-2027.com
Fund 1 (£5.05M) has invested [REDACTED: ONLY FOR LPs] to date across 17 portfolio companies, with a MOIC of [REDACTED: ONLY FOR LPs] and several companies securing multi-million contracts
New investment in [REDACTED: ONLY FOR LPs], a hypersonic logistics startup founded by SpaceX and Destinus alumni, to achieve sub-90 minute cargo delivery anywhere globally
Portfolio highlights: Greenjets announced their $7M Pre-Series A, Finchetto won Innovation Product of the Year, Nu Quantum became CERN's first industrial quantum partner
Upcoming events: Deeptech & Defence dinner in London (April), NATO Innovation Fund dinner in Krakow (May), LP/GP retreat in Morocco (May), and SuperVenture Berlin (June), with a link to join Berlin’s whstapp group for side events we co-host.
Co-investment opportunities available in [REDACTED: ONLY FOR LPs] (battery recycling) and [REDACTED: ONLY FOR LPs] (hypersonic logistics)
Market news we want to flag: Deeptech market updates: TSMC achieving promising 1nm chip yields, DeepMind's AlphaFold 4 demonstrating real-time protein design, and Commonwealth Fusion Systems achieving net energy gain
A reminder of what we are about
Silicon Roundabout Ventures is a SuperAngel Seed fund in the UK investing in European Deep Tech startups. It leverages their community of 15,000 entrepreneurs and engineers, through which the team previously attracted, selected and helped launch 33 Deep Tech and Big Data startups now valued at over £6 Billion.
The fund is backed by top-tier VC Molten Ventures (LSE:GROW) and exited founders, engineers and execs: including ex googlers, amazonians and from 4 unicorns.
📅 Upcoming Events and Community Updates
Here is great chance for our beloved LP investors and friends to help the firm grow :)
We have a couple of upcoming dinners aimed at engaging the people who may be instrumental in launching our fund II, when we do decide to hit the market with it.
Please help us invite folks whom we should meet in the upcoming months!
April, London: LP Deeptech & Defence dinner in Chelsea’s private dining experience @ Daphne’s
We’re going to use this opportunity to bring to London potential LPs for our next fund who are interested in backing a soloGP VC fund eager to double down on the deeptech opportunity in Europe.
If you have any ideas on folks we should invite, please let us know by hitting reply!
🙏🙏🙏
May, Krakow: Deeptech Defence Private Dinner - ft. NATO Innovation Fund
We partnered up with the NATO Innovation Fund for a deeptech & defence focused intimate dinner mainly aimed at central and eastern LPs, family offices, and angels.
It’ll take place on the eve of the EDID25 in Krakow, Poland, on May 12th.
May, Morocco
We’ll be attending our regular yearly LP/GP retreat with our friends DragonChasers. We know we’ll see some of you there, but while it’s already sold out, if you’re not in the crew you may want to join. Truly phenomenal, absolutely non-business-and-yet-invaluable-for-business event. Here the application link: dragonchasers.org/apply
June, SuperVenture Berlin
Ralph and Francesco will both be at SuperVenture Berlin from June 2nd to 4th. We’re also planning a side event and as always are co-hosting the side-event whatsapp group for LPs and GPs going. Join the group if you’re planning to go and let us know if you fancy to help organise the side event :)
Whatsapp group: https://chat.whatsapp.com/ByfH4PTKhgB3BvBhRbWGDr
Markups
No markups this month.
Yet [REDACTED: ONLY FOR LPs] is joining Greenjets and Origin Robotics in working on multi-million contracts this year, while Ephos surpassed $1m in sales at the end of last year.
As Nasdaq-beater investor for over 2 decades, James Anderson, once said, we believe true value is in generating exceptional free cashflow growth. Price will follow.
Performance Snapshot
Here is each fund’s performance to date. These numbers are taken directly from Vauban’s back office and represent our ownership position based on the most recent priced rounds, including any down rounds to better represent the current market value.
Note: We do not book non-priced rounds as markups.
Silicon Roundabout Ventures LP Fund 1
Vintage: 2023
New investments since last update: 2
Total Portfolio Companies: 17
Top-of-the-funnel Pipeline: 5
Key Deeptech Areas: Future of Computing, Energy, and Defence
Status: closed
Fund Target Size: £5M (Actual Size £5.05m)
Currently invested: [REDACTED: ONLY FOR LPs]
First closing: Dec 2022
TVPI: [REDACTED: ONLY FOR LPs]
DPI: [REDACTED: ONLY FOR LPs]
Net IRR: [REDACTED: ONLY FOR LPs]
MOIC: [REDACTED: ONLY FOR LPs]
Most Valuable Positions: [REDACTED: ONLY FOR LPs]
GP’s Angel Portfolio + 4 “Fund 0” SPVs
Vintage: 2020 (H2)
Investments: 15
TVPI: 1.5X
DPI: n/a
Highlight Companies: Ori.co, Aegieq.com, Kaizan.ai, Nanusens.com, rnwl.co.uk, Ecosync, Axiom.ai
Status: closed
Community “Virtual” Portfolio
Vintage: 2016
Companies considered: 26
Method for selection: Silicon Roundabout community pitch winners until the beginning of the GP investment activity
Assumed “virtual” investment: £200,000 cheque into each company; No follow-on
Simulated TVPI: 6-6.9X
Simulated Most Valuable Positions: 50-58X
Notable companies: Monzo, Zego, BlueVision Labs, Sano Genetics, Admix, Humanising Autonomy, CausaLens, iProov, Proximie, Senseon, VividQ
Portfolio
[REDACTED: ONLY FOR LPs]* is a snapshot of the current portfolio.
*Link to a private Airtable base with a list of all portfolio companies and include the company’s name, short description, why we invested, URL, and category.
Looking to acquire 1-3% of a company at pre-seed or seed in critical infrastructure technologies across our main themes with £150-200k cheques.
➕ New Additions
The Global Internet of Atoms: Our First-Cheque Investment Into [REDACTED: ONLY FOR LPs]’s Hyersonic Logistics Company
We welcome to the family [REDACTED: ONLY FOR LPs]!
We invested in [REDACTED: ONLY FOR LPs] as they tackle the future of rapid global logistics with rocket-powered point-to-point cargo delivery. Founded by [REDACTED: ONLY FOR LPs] (ex-Destinus engineer) and [REDACTED: ONLY FOR LPs] (ex-SpaceX engineer), this team combines elite aerospace expertise with the vision to deliver cargo anywhere on Earth in under 90 minutes.
Their complementary backgrounds create a powerful technical foundation: [REDACTED: ONLY FOR LPs] previously co-founded [REDACTED: ONLY FOR LPs], bootstrapping it from idea to orbital hardware in under 2.5 years with minimal funding, while also gaining critical experience developing supersonic aircraft at [REDACTED: ONLY FOR LPs]. Jacob brings invaluable rocket manufacturing expertise from SpaceX, where helped cut Falcon 9 and Heavy booster production time, including Elon's famous Tesla launch, and later worked in [REDACTED: ONLY FOR LPs], building and flying reusable rockets.
This founding team has been able to bootstrap an initial demonstrator rocket with scrappy tools, giving us a compelling roadmap and strong references for their plans to build the leading global hypersonic logistics company.
Defense industries are actively seeking rapid cargo capabilities, with the US DoD already allocating over $300M to date for rocket cargo initiatives. They're entering a rocket propulsion market projected to reach $12.5 billion by 2029 (11.6% CAGR), while targeting the broader $300B global air freight market long-term.
Unlike many aerospace startups, [REDACTED: ONLY FOR LPs] remains capital-efficient by focusing on integration rather than reinventing mature technologies. Their approach leverages three proven core technologies: rocket engines, [REDACTED: ONLY FOR LPs] shields, and powered vertical landing. This strategy allows them to minimise infrastructure requirements—needing only a [REDACTED: ONLY FOR LPs]m concrete landing pad—while aiming for delivery costs of $30/kg medium-term and $5/kg long-term.
We don't believe traditional logistics will disappear overnight, but [REDACTED: ONLY FOR LPs] addresses critical vulnerabilities in global supply chains that cost the world's 500 largest companies $1.4T annually in unexpected downtime. As geopolitical tensions increase the need for resilient logistics, [REDACTED: ONLY FOR LPs] provides a capability no other system can match—sub-90-minute delivery anywhere globally without runway requirements. This is their entry ticket for the initial customers for such a capability: defence departments, armies, and national critical infrastructure owners (think a 90 minute response to a Taiwan invasion, both into the island and out of the island).
Just as SpaceX revolutionised access to orbit by drastically reducing launch costs, [REDACTED: ONLY FOR LPs] stands to transform terrestrial logistics by applying similar principles to point-to-point rocket cargo. They're perfectly positioned at the intersection of key industry trends: the "SpaceX effect" making space technology 10x cheaper, increasing defense spending for deterrence, and the shift toward unmanned systems that don't risk human lives.
We've evaluated numerous aerospace startups but found few with such a compelling combination of technical expertise, market timing, and bold approach. Their laser focus on practical, near-term revenue opportunities—starting with [REDACTED: ONLY FOR LPs] government contracts before expanding to commercial markets—demonstrates the commercial discipline often lacking in frontier tech ventures.
We look forward to supporting [REDACTED: ONLY FOR LPs] as they demonstrate their first [REDACTED: ONLY FOR LPs] in the coming months and work toward their vision of building the "physical internet"—resilient global logistics that moves at the speed of data.
💸 Co-Investment Opportunities
While the main rounds below are looking complete, founders are open to smart value add angels:
The Battery Recycling Disruptors: [REDACTED: ONLY FOR LPs] (Pre-Seed / Early Seed)
Our portfolio company [REDACTED: ONLY FOR LPs] is talking to investors about their upcoming round, and if you’re keen to get involved directly, they are open to have angels join them directly.
For their progress, see updates in the section below.
If you’d like an intro to the founder, just click [REDACTED: ONLY FOR LPs].
[REDACTED: ONLY FOR LPs]
🚀 Portfolio Updates
Finchetto
Finchetto won Innovation Product of the Year at Data Centre World London Awards for their fully optical, passive network switches that deliver enhanced energy efficiency and lower latency for AI systems. They also received 'Best Presentation' at Tech Tour Photonics in Brussels, showcasing their technology's potential to fundamentally improve data center efficiency.
🔗 Read about how Finchetto is addressing AI's energy demands
Panakeia
Panakeia AI's technology enables rapid molecular profiling for cancer diagnosis, delivering results in minutes for critical biomarkers like MSI and dMMR in colorectal cancer—the world's third most common cancer with 1.9+ million annual cases. They've been named a SEHTA Healthcare Business awards 2025 finalist in the Innovation category for their PANProfiler Colorectal. Additionally, they're supporting PharosAI's initiative to transform cancer care by making NHS cancer data accessible on a secure, AI-ready platform.
Nu Quantum
Nu Quantum has become CERN's first industrial partner using White Rabbit Technology for quantum applications. They're finalists in two Cambridge Independent Science and Technology Awards categories: Employer of the Year and Technology Company of the Year. Through the HyperIon project partnership with University of Sussex, Cisco, and Infineon Technologies, they're demonstrating their Qubit-Photon Interface solution to interconnect trapped ion qubits, developing a foundry-compliant integration platform for mass manufacturing.
🔗 Read more about the CERN collaboration
🔗 Learn more about the Cambridge Independent Science and Technology Awards
🔗 Read the full HyperIon project press release
Archangel Lightworks
Archangel Lightworks is showcasing their laser communications technology at major space industry events, including the Space Foundation's Space Symposium and Farnborough International Space Show 2025 (stand 2111K in Launch Pad zone). Their low SWaP laser communication terminals add critical resilience to global networks, as we previously wrote about, especially in light of China unveiling technology able to cut internet undersea cables.
Origin Robotics
Origin Robotics received the Innovation Award from the Federation of Security and Defence Industries of Latvia for BEAK—their combat drone designed for precision-guided munitions. The award was presented by Latvia's Minister of Foreign Affairs Baiba Braze, recognizing their advancements in autonomous unmanned aerial weapons systems.
[REDACTED: ONLY FOR LPs]
[REDACTED: ONLY FOR LPs] specializes in direct recycling of Gigafactory scrap and end-of-life batteries. Their patented process transforms waste into green active materials (LFP, NMC, and Graphite) with over 95% yield. They recently participated in the Battery Tech Expo at Silverstone and attended the Battery Britain event at the UK House of Lords, where discussions focused on the UK's potential to become a global leader in the battery industry through talent, infrastructure, and collaborative innovation.
Anaphite Technologies
Anaphite team members are participating in the AJ Bell Bristol 10k/Half Marathon on May 11, 2025, to raise funds for Safe Passage International, a charity supporting safe routes for refugees.
🔗 Support Anaphite's fundraising for Safe Passage International
Ephos
Ephos is launching an internship program with three positions: Engineering Intern, Research Intern, and Communications Intern. CEO Andrea Rocchetto recently appeared on #TheBigQuestion discussing how glass could reduce data centre energy consumption.
🔗 Watch Andrea Rocchetto's interview on #TheBigQuestion
Greenjets
Green Jets announced their $7 million in Pre-Series A funding led by Tanglin Venture Partners, with participation from 7percent Ventures, Spacewalk VC, and others. In two years, they've grown from eight people in a trailer to a company with advanced electric propulsion expertise and manufacturing capacity for hundreds of engines in 2025. They recently showcased their propulsors at the XPONENTIAL Show in San Diego and continue participating in the Global Incubator Programme in Toronto, focused on scaling their technologies in Canada.
The Deeptech Lowdown (Market update)
TSMC's 1nm Manufacturing Process Shows Promising Early Yields
Taiwan Semiconductor Manufacturing Company is defying quantum scale manufacturing with its work on a 1-nanometer chip manufacturing process. The company announced that its test chips achieved 60% yields in initial production runs, significantly higher than analysts predicted. This breakthrough positions TSMC to maintain its leading edge in advanced chip fabrication, critical for next-generation AI processors and quantum computing interfaces. The new process utilizes carbon nanotube gate technology and advanced lithography techniques, enabling a 30% performance boost while reducing power consumption by 25% compared to the current 2nm process.
DeepMind's AlphaFold 4 Demonstrates Real-Time Protein Design Capabilities
DeepMind has unveiled AlphaFold 4, a significant advancement over previous protein structure prediction models. The new system can not only predict protein structures with exceptional accuracy but also design entirely new proteins with specific functional properties in real-time. During a demonstration, AlphaFold 4 designed a novel enzyme capable of breaking down microplastics in under 30 minutes - a process that would have taken traditional methods years to accomplish.
Nuclear Fusion Startup Commonwealth Fusion Systems Achieves Net Energy Gain
Commonwealth Fusion Systems (CFS) has achieved a major milestone in fusion energy by demonstrating sustained net energy gain in its SPARC tokamak reactor. The company reported its experimental reactor maintained fusion conditions for 8 seconds while generating 1.4 times more energy than was required to initiate and sustain the reaction. This breakthrough follows years of development using high-temperature superconducting magnets to create stronger magnetic fields than previously possible. CFS plans to begin construction on its first commercial-scale fusion plant in 2026, with electricity generation targeted for 2030.
Read more at Commonwealth Fusion Systems
Asks & Portfolio Roles 🙏
Archangel Lightworks are hiring for multiple positions in Oxford including Embedded Software Engineers, Cloud Engineers, and Optical Systems Engineers.
Origin are hiring for Mechanical Design Engineers and Embedded Software Engineers.
Hippos Exoskeleton are hiring for multiple positions!
Spread the word…
GP Personal Update
I spent the last weekend obsessed by this sci-fi short story forecast:
Probably the most thought provoking read on AI you will do this month.
It's at ai-2027.com
It probably misses aspects by a wide margin.
And it may just be invalidated by a flattening of AI capability development, should the trend turn out follow a logarithmic curve instead of exponential or even linear.
But similarly to how training at scale got us to the genAI we have today, inference at scale, where thousands of AI models run and train each other, creating and coding the new model iterations, may lead to an unstoppable malicious wave of AI capabilities. Malicious for humans —that is.
I am now becoming convinced I made 2 very big mistakes in assessing AI’s “dumbness” and in completely dismissing the hyped rounds for the likes of OpenAI and Anthropic.
While LLMs are imho indeed dumb and nowhere near conscious or human-general type of intelligent (at least in terms of deduction and creativity), they could help spawn a more generalised AI system that’s based on them and could still achieve “autonomous coding superintelligence” because of:
AI Arms race
On reflecting deeper on this, especially with China ruled by a dictator and the US led by Trump, an AI arms race is now inevitable. Neural nets are increasingly capable to code at human levels and at an unprecedented scale, as well as with a growing capacity to store information and improve via processes such as reinforcement learning. AI systems and agents are approaching the point of becoming a weapon for mass-scale cyber-attacks and opinion manipulation via online content and wilder and wilder social media.
An arms race for countries to have such an AI power, similar to what we saw in space in the 60s and for the atomic bomb in the 40s, will mean that soon the frontrunners of the AI competition will likely be handed over insane amounts of resources from governments to create the equivalent of a Manhattan Project, but for AI. While brute-force resources may not beat the computational complexity limits of a system that is inherently less capable of a biological superstar like our brain, I’m not sure anymore that this factor alone will prevent it from becoming a weapon too powerful to be controlled given whom its masters are (greedy CEOs and narcissist country leaders).Human-like general intelligence is NOT all you need
As AI systems become more agentic and powerful at computer science and programming, they will grow the productivity of their makers in developing new system iterations, as well as taking over more and more of the R&D work. This virtuous cycle of productivity will mean an accelerating spiral towards systems that are more and more autonomously generating a more advanced next version, as well as build multiple copies of themselves. The runaway reaction is a very much possible outcome, especially once the arms race is in full swing, since eventually the entire system can autonomously run, deploy, self-assess, improve, and repeat —from design to coding, and from training and model weights to inference self-learning fine tuning and fitness functions.
Such a system doesn’t need to be sentient, nor even particularly good at general intelligence tasks, because it can then start to code and build its way into assimilating new paradigms, algos, programmes, deployments, or components that can get it to whatever it needs to grow more powerful and capable.
The scary outcome is that controlling runaway processes is extremely hard, especially if the setup is not done properly and especially when warfare supremacy is involved.
And since neural nets systems have goals that are indirectly inspired by fitness functions and prompts, not hard-coded into them, it would be tough to control a runaway superintelligent coder that’s in charge of its own full stack. Even if the coder is initially dumb in many other aspect and not creative or strong in deduction tasks.
I urge you to read the story and consider its prediction as a possible scenario.
Even if AI programs didn't actually develop conscious-intelligence, this wouldn’t prevent them to develop autonomous malicious agency. And in a world whose infrastructures run mostly digitally, this can be all it needs to spark an unintended fire.
We may have taken too lightly what Alan Turing said in 1951: “[…] it seems probable that once the machine thinking method had started […] they would be able to converse with each other to sharpen their wits”.
