Igor shares his vision for the future of physical AI and the playbook that has fueled Tractian’s rapid growth and its ability to solve critical “pain” for some of the world’s largest manufacturers.

Episode Chapters:

02:15 Introduction to DeepTech Unleashed

04:33 Origin Story of Tractian

08:05 Ignorance as an Innovation Advantage

08:43 Decoding the Customer’s Pain—and not Product—Drives Sales

12:46 Iterate and Focus for Killer Product Development

16:52 Physical AI: Data and the Human Dimension

22:24 Managing Data at Scale and the Physical Testing Edge

33:04 A Zero-Complacency Culture and Setting Your Own Benchmarks

37:55 The Ultrasound Revolution: SmartTrac UG2

41:59 Empower Great Product Ideas Decisively and Directly (No Layers)

46:21 Sales Execution Is About Knowing How to Hire

55:18 When Fundraising, Focus on People—not Terms

1:01:28 With Great Capital Comes Great Responsibility

About the Host: Debjit Mukerji:

Debjit Mukerji is a Partner at NGP Capital, based in Palo Alto, California. A technologist at heart and engineer by training, Debjit partners with founders creating new categories or redefining existing ones with cutting-edge technology to help them navigate the complexities of global scaling. He has been a partner to Tractian since its seed round, supporting the company’s expansion across the US and international markets.

Follow Debjit Mukerji HERE

Find out more about NGP Capital at ngpcap.com

About the Guest: Igor Marinelli:

Igor Marinelli is founder and CEO of Tractian. A mechanical engineer by training, Igor has a deep-rooted passion for the industrial sector, having witnessed the impact of machine failures firsthand through his father’s 35-year career in manufacturing. Under his leadership, Tractian has grown into a leading Physical AI company and one of North America’s fastest-growing tech companies, securing significant investment to help industrial enterprises digitalize their maintenance operations and eliminate unplanned downtime.

Follow Igor Marinelli HERE

Find out more about Tractian here: tractian.com

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Peter shares his 20-year journey as a scientist and “dreamer” who turned complex physics research into a commercial reality. The conversation explores the technical breakthroughs that make OQC’s hardware unique, the challenges of navigating the intense “hype cycle” of quantum technology, and the company’s ambitious goal to enable the first useful quantum applications by the end of the decade through its new OQC TITAN system.

The discussion dives deep into the philosophy of “bold innovation,” the engineering hurdles of 3D circuit integration, and the evolving leadership dynamics within a high-growth deep tech startup.

What you’ll learn in this episode:

The Scalability Breakthrough: How OQC uses a simple, innovative approach to 3D circuit integration to overcome the “wiring bottleneck” that limits traditional 2D quantum processors.

Hype vs. Reality: Why quantum computing is both the most consequential and over-hyped technology of our time, and how to balance scientific excitement with pragmatic expectations.

Bold Innovation: The importance of taking “calculated risks” on technical ideas that experts in the field might initially question.

The Logical Era: What it means to move beyond experimental quantum systems into hardware purpose-built for real-world commercial impact.

From Founder to CSO: Peter’s personal evolution from a career scientist to a founder, and the importance of building a leadership team with complementary skills.

About the Guest: Peter Leek

Peter Leek is the Founder and Chief Scientific Officer of Oxford Quantum Circuits (OQC). A career scientist with over 20 years of experience in quantum computing research, Peter holds a PhD in physics and founded OQC to translate his unique intellectual property into world-changing technology. Under his scientific leadership, OQC has become a global leader in superconducting circuits, deploying scalable quantum systems to data centres and supercomputing centres worldwide.

Follow Peter Leek HERE

Find out more about Oxford Quantum Circuits at oxfordquantumcircuits.com

About the Host: Christian Noske

Christian Noske is a Partner at NGP Capital, where he focuses on industrial tech, enterprise software, and deep tech investments. With a wealth of experience in the venture capital landscape, Christian is dedicated to supporting founders who are solving complex technical challenges. Through DeepTech Unleashed, he brings listeners behind the scenes of the world’s most ambitious startups to uncover the human stories behind the hardware and code.

Follow Christian Noske HERE

Find out more about NGP Capital here: ngpcap.com

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In this episode of DeepTech Unleashed, host Christian Noske sits down with Hamed Sadeghian, the co-founder and CEO of Nearfield Instruments. Based in the Netherlands, Nearfield is a semiconductor metrology powerhouse that is solving one of the industry’s most critical bottlenecks: the ability to inspect microchips at the atomic scale without destroying them.

Hamed shares his unique journey, from founding his first company at age 19 in Iran to leading Nearfield through a massive €135 million Series C round in 2024 to meet the global demand for AI-ready chips. The conversation dives deep into the “reverse origin story” of a technical founder, the philosophy of “customer obsession”, and the reality of scaling a complex hardware startup in a conservative, consolidated industry.

What you’ll learn in this episode:

• The Metrology Gap: How Nearfield identified a critical need in the industry as Moore’s Law pushed chips to the atomic scale.

• Customer Obsession: Why deep tech success depends on solving a customer’s specific “pain” rather than just promoting great technology.

• Building an Ecosystem: How a small startup can play with industry “gorillas” by leveraging a high-tech supply chain and strategic partnerships.

• Scaling Challenges: Navigating the transition from CTO to CEO and building a global team that takes end-to-end ownership.

• Future Trends: Hamed’s excitement for the transition towards quantum innovations and hybrid silicon-photonics solutions.

Memorable Moments:

• The First “Aha!” Moment: A chief engineer seeing data from a proof-of-concept that no other tool could provide.

• The COVID Sacrifice: Shipping the first systems in the middle of a global pandemic, with engineers spending weeks in quarantine to ensure customer delivery.

Chapters:

00:00 – Introduction to Nearfield Instruments and Hamed’s Journey

02:49 – The Evolution of Semiconductor Metrology

05:43 – Challenges in the Semiconductor Industry

08:46 – Building a Startup in a Consolidated Market

11:56 – Leveraging Ecosystems for Growth

14:29 – Customer Obsession and Team Dynamics

17:36 – Navigating the Transition from CTO to CEO

19:59 – Moments of Magic in the Journey

22:55 – Future Trends in Technology: Quantum and Beyond

About the Guest: Hamed Sadeghian

Hamed Sadeghian is the co-founder and CEO of Nearfield Instruments. A prolific innovator with over 60 patents, Hamed has built a career at the intersection of precision engineering, optics, and advanced semiconductor equipment. Before founding Nearfield in 2016 as a spin-off from TNO, he led the nano-optomechatronics group at TNO and held a professorship at Eindhoven University of Technology. His entrepreneurial journey began at the age of 19 in Iran, and today he is recognised as a leader in developing atomic-scale process control solutions for the worldwide semiconductor manufacturing industry.

Follow Hamed Sadeghian HERE

Find out more about Nearfield Instruments at nearfieldinstruments.com

About the Host: Christian Noske

Christian Noske is a Partner at NGP Capital, where he focuses on industrial tech, enterprise software, and deep tech investments. With a wealth of experience in the venture capital landscape, Christian is dedicated to supporting founders who are solving complex technical challenges. Through DeepTech Unleashed, he brings listeners behind the scenes of the world’s most ambitious startups to uncover the human stories behind the hardware and code.

Follow Christian Noske HERE

Find out more about NGP Capital at ngpcap.com

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Beyond the breakthrough nanostructures and flat optics, Theodor dives into the “softer side” of leadership. He reveals his framework for high-speed decision-making, how he manages the “constant companion” of CEO doubt by trusting his team, and why he focused on building a “real company” rather than an exit strategy.

Key Takeaways:

The 70/30 Decision Rule: Why 70% of decisions don’t actually matter—and why speed is more valuable than perfection for the majority of a CEO’s choices.

Doubt as a Leadership Tool: How to distinguish between healthy “positive paranoia” and paralyzing doubt, and why sharing your insecurities with your team fosters a more powerful executional force.

The “Lab to Fab” Strategy: The strategic pivot from being a technology provider to a manufacturing leader in meta-optics, and why NILT chose to build its own fabs.

Building a “Real Company”: Why focusing on unique technology and real value naturally leads to successful acquisitions, even when you aren’t actively looking to sell.

Moments of Magic: From the thrill of the first profitable budget to hitting the “impossible” 92% efficiency record for meta-lenses that proved their technology was ready for the world.

Chapters: 

00:00 – The Journey of NIL Technology: From University to Global Leader

10:48 – Decision-Making in Deep Tech Leadership: Speed vs. Accuracy

27:00 – Building Trust: Why it's important to trust your team with your doubt

30:59 – Navigating the Exit: The story behind the landmark acquisition

37:56 – Lessons on Owning Your Vision and Storyline

41:15 – Moments of Magic: Breaking efficiency records in the lab

45:01 – Future Tech: Climate Change, Health, and Space Exploration

About The Guest: 

Theodor Nielsen is the Founder and CEO of NIL Technology (NILT). A trained engineer from the Technical University of Denmark, he has spent nearly two decades pioneering nano-imprint lithography and meta-optics solutions that are now revolutionising 3D sensing, AR/VR displays, and consumer electronics.

Find out more about NIL Technology HERE

Follow Theodor Nielsen HERE 

About The Host:

Christian Noske is a Partner at NGP Capital, where he focuses on industrial tech, enterprise software, and deep tech investments. With a wealth of experience in the venture capital landscape, Christian is dedicated to supporting founders who are solving complex technical challenges. Through DeepTech Unleashed, he brings listeners behind the scenes of the world’s most ambitious startups to uncover the human stories behind the hardware and code.

Follow Christian Noske HERE

To learn more about NGP Capital’s work with Deep Tech founders, visit ngpcap.com or follow us on LinkedIn.

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While Germany has historically been skeptical of nuclear energy, France is leading a shift toward a new generation of decentralised, micro-nuclear reactors. Antoine shares how Jimmy is decarbonising industrial process heat—a massive, often overlooked source of emissions—by designing and operating micro-reactors that provide low-cost, carbon-free energy directly to industrial sites.

Key topics discussed in this episode include:

The Nuclear Stigma: Why moving toward nuclear systems requires a “jump of faith” for a society that often only sees nuclear through the lens of cinema.

Decarbonising Industry: The challenge of replacing fossil fuels in industrial heating, which Jimmy addresses by providing carbon-free heat at a lower cost than traditional methods.

Nuclear as a Product: Jimmy’s innovative approach to making nuclear technology “simpler” and more accessible for industrial clients by treating it as a standard industrial tool rather than a massive infrastructure project.

Overcoming Deep Tech Challenges: Insights into the “moments of magic” and the hard-won breakthroughs necessary to scale a high-stakes energy startup.

The Future of Engineering: Why Antoine believes the fusion of nuclear physics and artificial intelligence will define the next decade of engineering breakthroughs.

Chapters: 

00:00 The Dawn of Nuclear Innovation

09:54 Navigating Regulatory Challenges

20:05 Market Dynamics and Opportunities

30:14 Building Trust and Education

39:58 The Future of Nuclear and Beyond

About the Guest:

Antoine Guyot is the co-founder and CEO of Jimmy, a French company at the forefront of the new nuclear era. Backed by over €32 million in French government grants and €20 million in VC investment, Jimmy is proving that micro-reactors are a vital tool for achieving a decarbonised future.

Antoine graduated from Ecole Polytechnique, the top engineering school in France. After working in strategic consulting, he became interested in the nuclear field, particularly in how cheap uranium could help decarbonise industrial heat, which is mostly generated using fossil fuels. Jimmy’s mission is to provide industrials with cheap, decarbonised process heat, thus massively helping to decarbonise industries in France and Europe.

About the Host:

Christian Noske is a Partner at NGP Capital, specialising in Deep Tech investments that shape a better future.

To learn more about NGP Capital’s work with Deep Tech founders, visit ngpcap.com or follow us on LinkedIn.

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Jonas unpacks why Europe’s strength in complex, high-precision industrial parts is both its biggest advantage and its biggest bottleneck — and how Daedalus is using AI-driven, asset-light factories to preserve artisan-level quality while massively scaling production. He explains why every high-end industrial part is “a mini-project”, why the real bottleneck is human cognitive load rather than machines, and how software can capture decades of tacit manufacturing knowledge before it’s lost.

Together, Christian and Jonas explore:

Europe’s unique opportunity to lead in high-complexity manufacturing, not mass production

The clash — and fusion — between Silicon Valley’s “move fast” culture and German precision craftsmanship

Why CNC shops often run at only 15–20% machine utilization, and how Daedalus is already doubling that

The demographic time bomb threatening Europe’s industrial ecosystem

How AI co-pilots, automation, and integrated digital factories unlock new productivity

What Europe still lacks to build globally dominant deep-tech companies — and how to fix it

Jonas’s take on AI hype vs. reality, and the long-term technologies he’s personally most excited about

This episode is a rare deep dive into the future of European industry from someone who helped build the future of AI.

Chapters:

00:00 The Challenge of Manufacturing Innovation

06:03 Silicon Valley vs. Traditional Manufacturing

11:58 The Concept of Asset-Light Manufacturing

18:11 Software's Role in Modern Manufacturing

23:59 Building Resilience in European Manufacturing

27:31 The Hidden Champions of European Manufacturing

30:51 Navigating the European Industrial Ecosystem

34:28 Bridging the Gap: Risk Appetite in Europe

36:41 Integrating Blue Collar and White Collar Workers

42:05 Moments of Magic in Innovation

48:01 AI: Hype vs. Usefulness

51:20 Future Technologies: Dreams of Tomorrow

Find out more about Daedalus here: www.daedalus.de 

Follow Jonas Schneider here: https://www.linkedin.com/in/jonas-schneider  

Find out more about NGP Capital here: www.ngpcap.com 

Follow Christian Noske here: https://www.linkedin.com/in/christian-noske  

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Topics include:

The simple observation on which LiveEO was founded and the journey from starting with €200 in their bank account to becoming an industry leader 

How rockets may get all the attention but they are chiefly a delivery mechanism for satellites

How Hollywood has done a great job introducing satellites to public consciousness but overhyped what they can currently do 

How earth observation has the potential to change every industry on the planet 

What a Trump tweet revealed about the relative capabilities of government and commercial satellites 

That refining the raw material of data can be more profitable than collecting it and Sven’s 3 steps for creating value out of data 

How the role of AI in refining data is often misunderstood

Chapters:

00:00 The Rise of Satellite Data in Various Industries

02:20 Founding LiveEO: A Journey from Idea to Reality

03:52 Understanding Satellite Data: Types and Applications

06:40 The Evolution of Satellite Data and Its Ecosystem

12:05 Scaling Operations: Merging Satellite and Drone Data

14:26 Navigating Conservative Industries: Challenges and Strategies

18:56 Future Opportunities: Expanding the Reach of Satellite Data

20:13 Building a Global Team: Challenges and Insights

23:03 Cultural Differences in Team Dynamics

25:14 The Unique Approach of LiveEO in the Space Tech Industry

30:08 The Value of Data: Understanding Customer Needs

37:30 Looking Ahead: The Impact of Starship on Satellite Data

39:58 Moments of Magic: Celebrating Milestones in the Journey

42:50 Future Visions: The Excitement of Room Temperature Superconductivity

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Topics include

How Protex AI aims to shift safety from reactive to proactive.

Using computer vision to monitor unsafe behaviours.

Building AI for industrial clients presents unique challenges.

Cultural dynamics play a significant role in hiring and team building.

How AI can augment human roles rather than replace them.

How Protex AI has reduced safety incidents by 62% within 90 days.

How the perception of AI is evolving positively in the workplace.

Why a diverse technical team is essential for innovation.

The future of AI in industry is promising and full of opportunities.

Success stories highlight the real-world impact of technology. 

Chapters

00:00 The Human Element in AI and Safety

02:30 Protex AI: Origin and Mission

04:37 Innovative Safety Solutions through Technology

06:50 Technical Challenges in AI for Industry

10:12 The Evolution of Computer Vision

12:34 Future of AI in Safety and Operations

15:06 Building a Diverse Technical Team

17:01 Changing Perceptions of AI in the Workplace

19:35 Augmenting Human Roles with AI

22:07 Protex AI vs. Traditional Safety Oversight

24:16 Cultural Dynamics in Hiring and Team Building

29:24 Navigating US Market Challenges

30:57 Moments of Magic: Success Stories

37:11 The Future of AI in Industry

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Topics include: 

The importance of European strategic autonomy 

The investments Europe needs to make in fusion and hydrogen 

Why Benoit is excited about SMRs and decarbonisation 

What Europe has ‘forgotten’ about manufacturing in the age of outsourcing

The European mindset v the US mindset 

The role of management boards in crisis spotting 

Managing risk through doing things ‘one step at a time’ 

Revisiting traditional concepts of risk 

The urge to push during an expansion phase 

Changing speed during expansion can be as difficult as managing a crisis 

The vision skill set vs the execution skill set

How humility and letting go are important to both phases

Chapters

00:00 Navigating Expansion and Crisis in Startups

02:39 The Vision Behind Vercor

05:42 The Importance of Electrification and Decarbonization

08:58 The European Startup Mindset and Innovation

12:15 Governance and Execution in New Ventures

14:50 Balancing Expansion and Crisis Management

18:49 The Role of Leadership in Crisis and Growth

23:32 Risk Management and Strategic Planning

27:24 Recruitment Challenges and Team Dynamics

30:34 The Rewards of Overcoming Challenges

34:53 Future Trends in Battery Technology and Decarbonization

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Topics covered include: 

Adopting a founders’ mentality to living with uncertainty

The current state of possibility in the quantum industry in Europe compared to the US and China

The certainty of how high-potential new tech will always develop in unexpected directions 

Why ‘sexy ideas’ aren’t enough 

Why superconducting will be the ‘winning tech’ in quantum

‘Creating facts’ through repeating patterns of delivery 

How changing your language, not your story builds trust across different audiences

How IQM’s Nordic culture affects how they do business 

Why Jan rejects the ‘we’ll let you know when it’s ready’ approach to delivery

Jan’s prediction for the most exciting technology of the next 10 years 

Chapters

00:00 Navigating Uncertainty in Deep Tech Entrepreneurship

09:59 The Current State of the Quantum Industry 

19:52 Team Building, Communication & Company Culture

29:53 The Future of Quantum and Other Technologies

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Topics covered include: 

What the ‘rock star’ companies of the future will look like 

Why AI makes hardware more important than ever 

Hardware as your ‘moat’ and key to defensibility, even if it isn’t the majority of your revenue

Operational rigor and the dangers of being overly fluid just because you’re growing fast

The real meaning of ‘efficiency’ and ‘accountability’ 

How to know when when you’re creating value rather than just making money

When to work in parallel and when to work sequentially 

Why ‘no’ doesn’t necessarily mean you’re wrong, it might just mean you’re talking to the wrong people

Chapters

00:00 Introduction to Deep Tech Unleashed

01:00 The Vision Behind eGym

06:12 Hardware vs. Software: eGym's Approach

10:49 Navigating Complexity in Deep Tech

14:03 Business Models and Value Creation

21:59 Operational Resilience and Investor Relations

28:02 The Importance of Focus in Growth

35:51 AI and the Future of Deep Tech

47:13 Looking Ahead: The Future of Deep Tech

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Topics covered include:

Marta's filters for evaluating climate tech opportunities

The ‘humbling experience’ of transitioning from investor to operator

Aligning expectations between operators and VCs

Creating honest board dynamics 

How Marta’s hub building model allows for talent optimization

Hiring for a growth mindset 

Testing for culture fit to reduce mismatches in hiring

Deep tech growth hacking strategies 

Chapters

00:00 Introduction to Deep Tech Unleashed

01:13 Building a World-Class Team

02:12 Marta's Journey to Founding Paebbl

05:54 Filters for Climate Tech Investment

10:11 Transitioning from Investor to Operator

13:59 Expectations Between Operators and VCs

18:09 Hub Building in Europe

21:56 Hiring for Hub Culture

26:12 Cultural Cohesion in Diverse Teams

32:23 Building Team Culture and Communication

44:06 Growth Hacking in Deep Tech

50:44 Personal Recharge and Family Support

53:34 Moments of Magic in Leadership

01:00:07 Future Technologies and Climate Solutions

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Topics covered include:

Cyrille’s unique journey from military intelligence to founding a robotics company focused on saving lives

The ‘Chess game’ of selling to governments

Transitioning from being project-based to product-driven

The importance of thinking in terms of Op Ex v Cap Ex

Overcoming the cultural differences between startups and governments

Magic moments from Cyrille’s Deep Tech journey

The potential of AI to revolutionise robotics

Chapters

00:00 Introduction to Deep Tech and Shark Robotics

02:12 Cyril's Unique Background and Journey

05:22 The Evolution of Shark Robotics

11:44 The Role of Robotics in Firefighting

13:38 Selling to Governments: Challenges and Strategies

20:14 Navigating the Public Sector Sales Process

23:30 Future Innovations in Robotics

29:21 Personal Insights and Moments of Magic

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Founded in 2016, Péter and his fellow founders have turned ANYbotics into a spectacular European DeepTech success story. Trusted by hundreds of industry leaders and recognised as the Next Global Hot Thing at the Digital Economy Awards 2023, ANYbotics connects the physical and digital worlds by teaming up humans and autonomous robots.

Topics covered include:

How AI is revolutionizing the field of robotics

Understanding customer needs on an individual level even when dealing with large companies

Shifting from a research to a customer focus

When to start selling

Enjoying the journey and ‘falling in love with the problem’

The importance of storytelling

Recognizing the right moment for scaling

Magic moments from across Peter’s DeepTech journey

Chapters

00:00 Introduction to DeepTech Unleashed

02:07 The Journey of ANYbotics

05:54 AI and Robotics: A Paradigm Shift

09:50 Challenges in Enterprise Sales

14:07 Building Relationships in B2B Sales

17:54 The Importance of Storytelling

22:14 Customer-Centric Approach in Robotics

26:00 Balancing Life as a Deep Tech Founder

29:47 Moments of Magic in the Journey

34:05 Future of Robotics and AI

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