Big Sur Ventures (BSV), a Spanish venture capital firm specializing in Deep Tech and enterprise software, has led a €9.4 million funding round in NanoPower Semiconductor AS, a Norwegian fabless semiconductor company pioneering ultra-low-power chip technology.
The transaction, which also included participation from the European Innovation Council (EIC) and Skagerak Capital as institutional investors, along with current shareholders, was carried out through BSV’s new fund, BSV IV Ariadne, which has a target size of €100 million and has already completed its first close. The fund also benefits from commitments by private institutional investors and public support from Spain’s State Secretariat for Digital Transformation (SETT) and CDTI.
BSV IV Ariadne focuses its investment strategy on Deep Tech and enterprise software, with a special emphasis on high-impact areas such as artificial intelligence, photonics, new materials, space, quantum technologies, semiconductors, and robotics. Beyond providing capital, BSV takes a hands-on approach, actively supporting its portfolio companies in product strategy, internationalization, and corporate development.
NanoPower’s nPZero technology is a subthreshold, platform-agnostic integrated circuit (IC) that enables devices to operate in the nanoamp range—reducing energy consumption by up to 90% compared to conventional solutions. With this chip, electronic devices powered by small batteries—or even by ambient energy (energy harvesting)—can run for years without replacement, helping tackle the global challenge of reducing battery waste.
In 2024, there were around 18.8 billion IoT devices installed worldwide, a figure expected to reach between 29 and 40 billion by 2030. Although not all depend on batteries, a significant portion does, resulting in up to 9.9 million battery replacements per day. Beyond the environmental impact, battery replacement entails high logistical and operational costs for companies managing sensors and devices across large industrial, urban, or remote deployments.
The nPZero IC is also compatible with any sensor or wireless communication technology, making it a cross-sector solution applicable to smart homes, logistics, industrial IoT, healthcare, energy, smart cities, and defense.
“The investment in NanoPower is particularly relevant for BSV as it marks our firm commitment to semiconductors, a critical area for Europe. NanoPower combines a world-class team with disruptive and sustainable technology that can transform entire industries. This is exactly the type of company we seek in BSV IV Ariadne,” said José Miguel Herrero, Managing Partner at Big Sur Ventures.
With a track record of more than 13 years and over 50 early-stage companies invested in, Big Sur Ventures has established itself as a benchmark in Spain and Europe for supporting startups that combine strong technological innovation with scalable business models.
The backing of companies such as NanoPower reflects the strategic importance of Deep Tech for Europe’s future. According to EU estimates, 82% of these innovations will have a direct impact on industry and critical infrastructure. In this context, Spain is poised to become the new “Deep Tech Valley” thanks to its unique combination of STEM talent, cutting-edge research centers, and a dynamic investment ecosystem.
“Spain has all the right ingredients to become a driving force in Europe’s Deep Tech wave. Funds like BSV IV Ariadne, which invest in the early stages of these startups, will be key to channeling scientific talent into globally impactful ventures,” added Herrero.
Deep Tech has become the new frontier of innovation, driving scientific and engineering breakthroughs with direct impact on society, industry, and European security. Its strategic importance is central to Europe’s reindustrialization, supply chain resilience, and reduced dependence on external actors in critical sectors such as defense.
Big Sur Ventures is a Madrid-based venture capital firm founded in 2011, specializing in early-stage investments in entrepreneurial companies across sectors such as internet, software, and Deep Tech, with a particular focus on B2B.
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