Why a DeepTech Growth Index?
From our offices in Chicago, San Francisco, and Luxembourg, Promus Ventures has been fortunate to invest in numerous leading DeepTech startups across the globe for over ten years. We continue to invest initially at early-stage rounds in best-of-breed founders and teams, and some of our 100+ portfolio investments include such innovative companies as Rocket Lab, WHOOP, AngelList, ICEYE, Mapbox, FLYR, Mytra, The Exploration Company, FERNRIDE, Kensho, Swift Navigation, Gauss Surgical and many more.
In September 2021, we debuted the Promus Ventures New Space Index, which tracked and compared the price performance and multiples of new and legacy space companies. In January 2023, we partnered with Euronext, the European Commission, and the European Space Agency to publish a space sector stock index focused on Europe. You can track the Euronext Helios Space Index daily here.
Space is only one of six DeepTech subsectors in which Promus Ventures invests, so it made sense to build a much larger DeepTech Growth Index. This new DeepTech index compares public companies’ price, multiple, and growth performance on US exchanges across all DeepTech sectors.
DeepTech Growth Index Components
(Table can be sorted by column)
Footnotes
1. Market Cap is defined as the Number of Shares Outstanding x Price Per Share at the time this snapshot of the index is generated
2. Enterprise Value is defined as Market Capitalization + Current Portion of Long Term Debt + Non-Current Portion of Long Term Debt + Book Value of Preferred Stock + Book Value of Minority Interest – Cash and Short Term Investments
3. Revenue Growth Rate defined as % change in revenue from current fiscal year to analyst average forecast for next fiscal year
No Meaning (NM) Thresholds: Any undefined/not a number values are shown as not meaningful, along with the following thresholds
– EV/TTM and EV/NTM Multiples Any value > 200 is removed and shown as not meaningful
– Revenue Growth Rate Any value > 1000% is removed and shown as not meaningful
DeepTech Sector Revenue and P/E Multiples
NTM Revenue numbers are based on current mean analyst estimates
Our DeepTech Focus Areas
Built Environment
Ubiquitous connectivity, automation and analytical capabilities enable a smarter and more efficient built environment, better suited to its users and operators.
Energy & Resources
Energy systems are becoming smarter, distributed and de-carbonized, while automation, efficiency gains and sustainability are impacting all aspects of the resource extraction value chain.
Health
Big data, robotics, and AI are revolutionizing drug discovery, diagnostics, and medical procedures. Connected devices, wearables, and on-demand healthcare empower consumers.
Manufacturing
Automation, novel production methods, and new materials allow for the manufacturing of ever-more complex systems in a more resource-efficient and decentralized way.
Mobility & Logistics
New mobility options combined with automation and electrification are making transportation more flexible, cheaper and environmentally friendly.
Space, Aerospace & Defense
Cost of launching payloads and acquiring data is plummeting, unlocking numerous use cases on Earth. Space exploration is gaining traction, with companies building the infrastructure critical to a space economy.
Frequently Asked Questions
Our index is a market cap-weighted index that tracks the performance of the combined DeepTech companies in the index.
The Index will be rebalanced quarterly on the second Monday of January, April, July, and October. We do not currently consider dividends in the construction of our DeepTech index.
We recognize that our list is not exhaustive, as there are many companies driving innovation along multiple axes that we have chosen not to add to our index.
Some examples include:
- Apple’s manufacturing and AI driving their consumer devices
- Alphabet with Waymo & Intrinsic innovating in autonomy and automation
- Amazon’s work across automation and robotics
- Microsoft/Hololens in AR/XR
We believe that including these large market-cap public companies would lead to their dominance of the index, negating much of the value of understanding the performance of the stocks we are including.
We also plan to exclude most companies with a market capitalization below $500M as we feel these are too small to include, but may include companies below this market capitalization threshold if we feel they offer something unique and important as a component of the index.
We refresh the index on a weekly basis.
We pull data from a number of free and paid sources and use a homebrew Python infrastructure (primarily pandas and plotly) to pull it all together and present the data.
Sources used: YCharts, Yahoo Finance, Google Finance
Contact us at info@promusventures.com.
Disclaimer
This website and the information presented are intended for informational purposes only. The views expressed herein are the authors’ alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service.
While certain information contained herein has been obtained from sources believed to be reliable, neither the authors nor any of their employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information.
The authors and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.
All data is aggregated from publicly available data feeds, including YCharts, the Yahoo Finance API, and the Google Finance API.