This week on the EUVC Podcast, Andreas Munk Holm sits down with Sebastian Peck, Partner at KOMPAS VC, Europe’s leading specialist in industrial tech and the decarbonisation of manufacturing and the built world.
KOMPAS VC is an early- and growth-stage venture capital firm backed by leading corporates, focused on transforming how the world builds, moves, and powers itself. With offices in London, Amsterdam, and Copenhagen, KOMPAS partners with startups and industrial leaders driving efficiency, automation, and decarbonisation across sectors like manufacturing, construction, energy, and mobility.
With the firm gearing up for major announcements, Sebastian unpacks why industrial tech is finally having its moment in European VC — and why resilience, regulation, and risk appetite will determine whether Europe leads or lags.
Here’s what’s covered:
00:20 Defining Industrial Tech - Decarbonisation, productivity, and resilience: the three pillars driving transformation in Europe’s industrial base.
03:30 The Energy Debate: Transition vs pragmatism, nuclear’s comeback, and Europe vs US vs China
09:14 Fragmented Corporate Commitments: Nordics doubling down, US ambivalence, China scaling renewables fast
11:21 AI in Industrial Tech: From power-hungry models to agentic AI: where real productivity gains are emerging and what’s still hype.
16:02 Robotics: Hype vs. reality: Why humanoid robots won’t take over factories (yet) — and where automation truly moves the needle.
21:57 Adoption Hurdles: Why industrial tech moves slower than SaaS, and how smart VCs help bridge the gap between pilots and production.
24:37 AI & Jobs: Creative destruction or just destruction? How Europe, the US, and China are charting radically different paths.
33:18 Regulation: Europe’s protective instinct: how the EU’s AI Act balances innovation with oversight - for better and for worse.
40:27 Startups × Corporates: Why pilots fail, and how KOMPAS VC brokers real commercial traction
44:48 KOMPAS VC Fund II: New bets, Makersite’s standout Series B, and how the firm is deepening its industrial tech thesis.
45:54 Specialist vs Generalist VCs: Why Europe needs deep domain VCs working alongside generalist syndicates to build lasting industry platforms.
48:52 Magic Wand Policy: Pension capital reform and risk appetite as Europe’s bottlenecks
51:09 It’s Not Founders, it’s the Ecosystem: Employees, customers, regulators, and LPs — everyone needs to lean in if Europe is to lead.
You can listen to the full session on Apple Podcasts and Spotify 🎧
✍️ Show Notes
The Industrial Tech Opportunity
KOMPAS VC defines industrial tech across three dimensions:
Decarbonisation: From clean energy production to transforming industrial processes.
Productivity: Efficiency and throughput gains through automation, AI, and robotics.
Resilience: Protecting supply chains, infrastructure, and assets from geopolitical and environmental shocks.
Energy Transition Meets Pragmatism
Europe needs all the power it can get and Sebastian argues for a pragmatic path to net zero. Nuclear is back in the mix. While the US is retreating from clean energy commitments, China is leading in renewables, Europe’s challenge is staying the course while ensuring competitiveness.
AI & Robotics in Industry
AI is both a power hog and a productivity revolution, but enterprise adoption is gated by data readiness. Agentic AI (multi-agent orchestration that could reshape industrial workflows) is the frontier KOMPAS VC is watching.
In robotics, incremental innovation beats hype: most factories are already highly automated; humanoids won’t replace workers anytime soon. The real wins come from continuous optimisation.
In robotics, factories are already highly automated; humanoid robots are hype for now. Real gains come from incremental improvements and continuous optimisation.
Why Industrial Tech Adoption is Slow
Capex cycles, complex procurement, and organisational inertia mean adoption lags behind software. But the opportunity is huge for investors who can bridge the corporate-startup divide — brokering credible pilots, filtering serious corporate partners, and building feedback loops that drive measurable impact.
AI, Jobs & Regulation
Could AI destroy more jobs than it creates? Sebastian warns that the answer remains uncertain. In the US, rapid, corporate-driven adoption could proceed largely unchecked, heightening the risk of widespread social disruption. Europe, by contrast, is likely to intervene more assertively to preserve social cohesion. Good regulation should focus on addressing negative externalities, much like banning cancer-causing additives in food, rather than shielding incumbents from competition.
KOMPAS VC’s Playbook
KOMPAS VC leverages a deep industry network to unlock customer access and accelerate growth across its portfolio.
Its platform team is composed of seasoned operators who understand corporate dynamics and the complexities of driving change. The firm combines specialist expertise in markets with a generalist perspective across technologies, enabling a holistic approach to venture building. Kompas recently launched Fund II, with Makersite’s Series B standing out as a flagship success that exemplifies its thesis in action.
KOMPAS combines deep industry knowledge with a platform approach that accelerates commercialisation:
Industry network that opens doors to enterprise customers
Platform team of seasoned operators who understand corporate change
Specialist expertise in markets × generalist view across technologies
Recently launched Fund II, with Makersite’s Series B as a flagship success story
Europe’s Bottleneck: Risk & Capital
Europe doesn’t lack innovation, it lacks risk appetite and growth capital. Pension funds and institutional LPs remain overly cautious, starving later-stage industrial tech of fuel. The bottleneck isn’t founders - it’s the ecosystem around them: employees, corporates, regulators, and LPs.
💡 One-Liner Takeaway
Industrial tech is Europe’s chance to lead in decarbonisation and resilience, but only if capital and risk appetite catch up with innovation.
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