DeepTech Unleashed

In this episode of DeepTech Unleashed, host Christian Noske sits down with Francesco De Stefano, co-founder and CEO of Caracol. Founded in Italy, Caracol is a pioneer in Large Format Additive Manufacturing (LFAM). By combining robotic arms, sophisticated software, and circular materials, Caracol prints massive industrial parts for demanding sectors including aerospace, maritime, automotive, and energy.

Francesco shares how a non-engineering “business guy” from management consulting partnered with design engineers to build an international deep tech company. He details Caracol’s journey through its recent $40 million Series B fundraising round, its strategic expansion into the US and Middle East, and its unconventional acquisition of a century-old German business unit. The conversation explores the mechanics of scaling hardware globally, leading cross-cultural teams, and why embedding AI and intelligence into physical machines represents the next frontier for industrial production.

What you will learn in this episode:

Breaking the Box of 3D Printing: How combining multi-axis robotics with pellet-based raw materials unlocks large-scale, cost-effective additive manufacturing for parts over one metre.

A Strategic Approach to Fundraising: How non-technical founders can align investor drivers, navigate board dynamics, and turn fundraising into a driver for corporate maturity.

Playbook for International Expansion: The critical balance between maintaining local “boots on the ground” in key growth markets and retaining a central R&D and engineering core.

Targeted M&A in Deep Tech: When and why an early-stage startup should acquire established industrial assets to accelerate technological roadmaps and market penetration.

The Future of Smart Machines: How embedding software, machine learning, and AI layers into physical manufacturing hardware reduces waste and solves complex industrial challenges.

Chapters:
00:00 Introduction to DeepTech Unleashed and Francesco De Stefano
01:18 The Caracol Founding Story: A Business Mindset Meets Engineering Vision
03:28 Overcoming the Limits of Traditional Additive Manufacturing
09:15 From Camper Vans to Boat Hulls: Large-Scale Industrial Applications
10:20 Caracol’s Global Footprint: Italy, USA, and the Middle East
11:40 Leadership and Managing Complexity as a Non-Technical Founder
16:43 The Reality of Fundraising: Board Governance and Alignment
25:03 Executing International Expansion: Boots on the Ground
35:01 Acquiring a 100-Year-Old German Competitor’s Asset
41:04 Moments of Magic: Launching the US Headquarters in Austin
44:18 Looking to the Future: AI and Smart Machines in Physical Manufacturing

About the Guest: Francesco De Stefano
Francesco De Stefano is the co-founder and CEO of Caracol. With a background in business and strategic consulting at Boston Consulting Group (BCG), Francesco co-founded Caracol in 2017 to transform large-scale industrial manufacturing using robotics and additive manufacturing. Under his leadership, Caracol has expanded from Italy to establish manufacturing and commercial operations in the United States and the Middle East, raising over $40 million in Series B funding to scale its LFAM platform globally.

Follow Francesco De Stefano on LinkedIn here: https://www.linkedin.com/in/francesco-de-stefano-8b4b4497/
Find out more about Caracol here: https://www.caracol-am.com/

About the Host: Christian Noske
Christian Noske is General Partner at Uplift Ventures, focusing 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 on LinkedIn here: https://www.linkedin.com/in/christian-noske/
Find out more about Uplift Ventures here: https://www.upliftventures.com/
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In this episode of DeepTech Unleashed, host Christian Noske sits down with Adrien Briod, co-founder and CTO of Flyability. Founded in 2014 as a spin-off from EPFL in Lausanne, Switzerland, Flyability is a global pioneer in indoor inspection robotics. Their collision-tolerant drones allow heavy industries—ranging from power generation and mining to chemical refining—to inspect hazardous, confined spaces without putting human lives at risk.

Adrien reflects on Flyability’s 12-year journey from an initial research breakthrough inspired by insects to a thriving company of 140 people servicing 1,500 clients worldwide. The conversation explores the technical choices behind building hardware that can withstand extreme environments, the integration of 3D mapping and LiDAR to create digital twins, and how emerging Physical AI will shift drones from manual teleoperation to prompt-driven assistants. Adrien also shares his perspectives on leadership, explaining how cultivating a culture of purpose, ownership, and constructive feedback enables deep tech teams to compete at the highest level.

What you will learn in this episode:

Mechanical Intelligence vs. Software: How drawing inspiration from nature led to collision-tolerant hardware, proving intelligence begins with physical design.

The Evolution of Indoor Inspection: Combining LiDAR measurements with computer vision to create 3D mapping and digital twins for risk-based maintenance.

The Impact of Physical AI: Moving beyond joystick control to prompt-driven assistants capable of understanding complex environments.

Building a High-Performance Culture: Shifting from top-down management to a culture grounded in purpose, transparent micro-decisions, and team alignment.

Leadership and Constructive Feedback: Practical strategies for preserving team cohesion and encouraging fast learning from mistakes.

Chapters:
00:00 Introduction to DeepTech Unleashed and Adrien Briod
01:50 The Flyability Mission: Safeguarding Infrastructure and Human Lives
03:40 Teleoperation, Mazes, and Superpowers for Inspectors
05:34 The Founding Story: From EPFL Research and Fukushima to Insect-Inspired Drones
08:55 Technology Choices: Competing in the Global Hardware Stack
12:01 Software Architecture: LiDAR, Digital Twins, and Autonomous Flight
15:39 Hardware Limitations and the Physical AI Turning Point
19:07 How Physical AI Delivers Frictionless Value to Enterprise Customers
23:16 Rethinking CTO Leadership: Moving Beyond OKRs to Culture
26:30 Cultivating Purpose, Ownership, and Constructive Feedback
31:00 Operationalising Culture and Assessing Fit During Hiring
33:41 Moments of Magic: High-Stakes Field Demos and Saving Human Lives
38:48 Personal Insights: Woodworking and Simple Counterparts to Complex Tech

About the Guest: Adrien Briod
Adrien Briod is the co-founder and CTO of Flyability. His PhD research at EPFL on bio-inspired mechanisms formed the core technology behind the company, which he has scaled to 140 people developing industry-standard inspection drones.

LinkedIn: https://www.linkedin.com/in/abriod/
Website: https://www.flyability.com/

About the Host: Christian Noske
Christian Noske focuses on industrial tech, enterprise software, and deep tech investments, supporting founders who are solving complex technical challenges.

LinkedIn: https://www.linkedin.com/in/christian-noske
Hosted on Acast. See acast.com/privacy for more information.

In this episode of DeepTech Unleashed, host Christian Noske sits down with Sai Shivareddy, the CEO and co-founder of Nyobolt. Born out of a decade of cutting-edge research at the University of Cambridge, Nyobolt is a battery scale-up tackling the all-important last metre of energy storage. Their revolutionary technology enables ultrafast charging, reaching an 80% charge in under five minutes, without the typical degradation associated with conventional lithium-ion batteries.

Sai shares his 15-year journey across the battery value chain, reflecting on how early research funded by Dyson sparked his entrepreneurial drive. The conversation dives deep into the strategic choices that have driven Nyobolt's success, including a deliberate choice to focus on application-layer solutions and power density to uniquely solve industrial pain points. Sai also details the reality of navigating multiple hype cycles, building commercial credibility, and the milestone achievements that have validated their hardware stack—from a groundbreaking sports car demonstration to capturing massive automation contracts with reference customers like Symbotic.

Chapters:

00:00 Introduction to DeepTech Unleashed and Sai Shivareddy
01:17 Sai's Background: From Cambridge Research to Dyson
06:03 The Trade-Offs of Physics: Energy Density vs. Power Density
09:03 Owning the Supply Chain and Navigating the Application Layer
12:51 Fast Charging vs. Battery Swapping in Robotics
16:04 Empowering the Physical AI Cake and Data Centre Architecture
23:42 Juggling Hype Cycles and Managing an Experienced Team
28:13 Advice for the Next Generation: Capital Efficiency and Niche Markets
37:51 Moments of Magic: The 4-Minute EV Charge and the Symbotic Deal
42:54 Personal Insights: Technology's Impact on Society and Farming Hobbies

About the Guest: Sai Shivareddy

Sai has dedicated his career to the mission of finding seamless solutions for energy storage and retrieval. His passion lies in clean energy and materials innovation, which drive Nyobolt’s unique high-power batteries with ultrafast charging times. Since founding Nyobolt in 2019, Sai has applied a whole systems approach to address the need for accessible power. His experience in inventing and developing various energy storage technologies across different industries for over a decade informs his vision. Sai collaborates with a world-class team—scientists, engineers, and industry experts—united by a shared purpose: unlocking the potential of battery technology. Together, they challenge conventions and inspire a paradigm shift in energy storage systems. Sai holds a PhD in Engineering from St John’s College, Cambridge, where he collaborated with Dyson on groundbreaking concepts for high-power energy storage technologies.

Follow Sai Shivareddy on LinkedIn here: https://www.linkedin.com/in/saishivareddy/

Find out more about Nyobolt here: https://nyobolt.com/

About the Host: Christian Noske

Host Christian Noske 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 on LinkedIn here: https://www.linkedin.com/in/christian-noske/

Hosted on Acast. See acast.com/privacy for more information.

In this episode of DeepTech Unleashed, host and partner at NGP Capital, Upal Basu, sits down with Brian Manning, Co-Founder and CEO of Xona, to explore the future of satellite navigation. Xona is pioneering a secure, high-performance navigation system from low Earth orbit (LEO) designed to meet the demands of modern automation, providing accuracy down to the centimetre level.

Key topics discussed:

The Entrepreneurial Spark: From tinkering in a family plumbing business to working at SpaceX on the Falcon rocket thrust structure, and how those formative experiences shaped Brian’s journey.

The Limitations of GPS: Why traditional GPS is no longer sufficient for the era of 'hands-off' machine control, autonomous vehicles, and automated infrastructure.

Validating Deep Tech: The parallel approach required to prove complex satellite technology and market demand simultaneously, avoiding the pitfalls of building in a vacuum.

Overcoming the Doubters: Navigating early fundraising hurdles, managing runway through volatile periods like COVID-19, and the ultimate validation of launching Xona’s first satellite.

The Launch Bottleneck: The current state of the space industry where satellite manufacturing capacity heavily outstrips available commercial launch supply.

A Vision of Ubiquitous Precision: Looking ahead to a future where high-precision positioning transforms precision agriculture, critical infrastructure, and consumer applications.

Chapters:

00:00 Introduction to Pulsar-0 and Market Opportunity
02:57 Brian Manning's Journey to Entrepreneurship
05:57 Inspiration from SpaceX and the Apollo Era
09:04 The Transition from Automotive to Space Tech
11:52 Identifying the Gaps in GPS Technology
14:47 Commercial vs. Defense Applications of Navigation Systems
17:47 Overcoming Investor Skepticism
21:12 Parallel Validation of Technology and Market Needs
24:06 Building a Strong Founding Team
27:24 The Early Struggles of Fundraising
34:05 The Launch of Pulsar-0 and Its Impact
37:02 Transitioning from Technology Developer to Service Provider
39:50 Future Use Cases and Consumer Impact
46:05 Reflections and Advice for Entrepreneurs

About the Host: Upal Basu

Upal has worked in the mobile and software technology industry for over 20 years. At NGP Capital, Upal leads the US investment team. Prior to NGP Capital, he was Founder and CEO of Mformation Technologies, the world’s largest mobile device management company, which was acquired by Alcatel-Lucent.

Previously he was a management consultant for McKinsey & Company in New York and London. Prior to joining McKinsey, Upal led Product Management activities for Risk Management Solutions (RMS), a leading provider of software technologies for the management of insurance risks.

Upal has an MBA from Harvard Business School, an MS in Engineering from Stanford University, and a Bachelor’s degree in Engineering from Imperial College, London.

Follow Upal Basu on LinkedIn: https://www.linkedin.com/in/upalbasu

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

About the Guest: Brian Manning

Brian Manning is the Co-Founder and CEO of Xona. An engineer and mechanic at heart, he holds an aerospace engineering degree and an MBA from London Business School. He is dedicated to building the foundation layer for the next generation of autonomous and connected devices by providing modern, secure, and ultra-precise satellite navigation.

Follow Brian Manning on LinkedIn: https://www.linkedin.com/in/brian-manning-x/

Find out more about Xona here: https://www.xonaspace.com/
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In this episode of DeepTech Unleashed, host Christian Noske sits down with Rhona Togher, the CEO and co-founder of Lios. Based in Dublin, Lios is on a mission to reduce noise pollution and prevent hearing damage through advanced material science. Rhona and her co-founder, Eimear O'Carroll, have developed SoundBounce, an award-winning acoustic material that is thinner, lighter, and significantly more effective at dampening low-frequency noise than traditional solutions. From its origins as a school science project to winning the European Patent Office’s Invention of the Year 2023, Rhona shares the remarkable story of Lios’s growth. The conversation explores the challenges of building a hardware powerhouse in a risk-averse industry, the importance of long-term customer relationships, and the unique dynamics of a co-founder partnership that began in high school.

What you’ll learn in this episode:

The Founder’s Journey: How Lios evolved from a high school science project in Sligo into an advanced materials company operating across the automotive, aviation, and construction sectors, and even in space.

A Unique Co-Founder Partnership: Insights into building a long-term, successful co-founder relationship, and how constant, transparent communication serves as the foundation for overcoming the challenges of a deep tech startup.

Overcoming Industry Resistance: Strategies for convincing veteran, risk-averse industries to adopt new, breakthrough materials through multi-phase processes and long-term engagement.

Supporting Women in Tech: Why visibility and community are vital for encouraging more women to pursue careers and leadership roles in deep tech.

Chapters:
00:00 Introduction to Deep Tech Unleashed and Rhona Togher
01:22 Lios’s Mission and SoundBounce Technology
05:04 Origin Story: From High School Project to Business
11:50 Building the Team and Scaling
14:23 Managing Funding and Capital Efficiency
18:56 Navigating Early Investor and Supplier Challenges
23:04 The Power of the Co-Founder Relationship
26:11 Challenges and Opportunities for Women in Deep Tech
31:13 Best Practices for Entering Risk-Averse Industries
34:35 Moments of Magic and Recognition
39:24 Personal Insights and Life Outside of Work

About the Guest: Rhona Togher
Rhona Togher is the co-founder and CEO of Lios, an advanced materials company based in Dublin. Along with her co-founder Eimear O'Carroll, she has spent over ten years developing breakthrough acoustic materials to combat noise pollution. Rhona’s work with Lios has earned significant recognition, including being named the European Patent Office’s Invention of the Year 2023. She is a passionate advocate for women in deep tech and focuses on building sustainable, customer-driven technology that has applications across global industries and in space.

Follow Rhona on LinkedIn here: https://www.linkedin.com/in/rhonatogher/

Find out more about Lios here: https://lios-group.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: https://www.linkedin.com/in/christian-noske/

Find out more about NGP Capital here: https://www.ngpcap.com/
Hosted on Acast. See acast.com/privacy for more information.