OVNIs Ep. #105 - Francesco Ricciuti - Why Deep Tech in Europe Actually Makes Sense

In this episode of OVNIs Capital, Thomas Renaudin dives into the journey and convictions of Francesco Ricciuti , investor at Runa Capital. From his early path as an engineer working on autonomous robotics to his transition into venture capital, Francesco shares a candid perspective on what drew him to deep tech and why Europe has a unique role to play in building the next generation of hardware and computing companies.

The conversation explores the future of European deep tech: reshoring industrial capabilities, the fragility of global supply chains, and the need for patient, risk-aware capital adapted to hardware timelines. Francesco also details what he looks for in founders - storytelling ability, self-awareness, and authenticity - while highlighting overlooked European tech hubs and the critical importance of energy and infrastructure as the true backbone of tomorrow’s technological progress.

[00:00:00] Introduction & welcome

[00:00:52] Francesco Ricciuti’s background: growing up in Rome & early ambitions

[00:02:25] Engineering in Europe: strengths, limits, and hidden excellence

[00:03:48] Discovering robotics, autonomous systems & the tech wave of the late 2010s

[00:05:17] First startup experience: building robots, learning the hard way

[00:07:38] Failure, resilience & the decision to start over

[00:08:42] From founder to VC: joining Runa Capital

[00:10:02] Why deep tech investing (and not software or B2C)

[00:11:31] Future of computing: quantum, photonics & novel semiconductors

[00:12:10] Why Europe can still win in deep tech hardware

[00:14:31] Supply chains, fragility & reshoring industrial capacity

[00:16:07] What’s missing in the European deep tech ecosystem

[00:17:33] Hardware vs software: capital, timelines & investor mindset

[00:20:28] The Series A & B gap for European deep tech companies

[00:22:43] Notable European deep tech companies & ecosystems

[00:24:25] Do European hardware startups need the US to scale?

[00:25:10] What Francesco looks for in deep tech founders

[00:28:29] Assessing founders under time pressure

[00:29:47] Europe’s most underrated deep tech cities

[00:32:19] Energy, infrastructure & the real legacy of the AI boom

[00:33:54] Defense, geopolitics & Europe’s strategic future

[00:34:52] Closing remarks & final thoughts

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