Carbon dioxide is an abundant carbon feedstock, and there exists a sustained interest in methods for its utilization. At the moment, several routes that rely on the use of renewable energy for the valorization of CO are being considered, with a strong emphasis on fully electrocatalytic routes. In this Perspective, we highlight the role that heterogeneous catalysis may play in hybrid processes in which H is obtained via electrolysis and CO is valorized in a second, dark step. Targeting high selectivity to value-added products (olefins and aromatics), we cover CO-to-chemicals routes that involve cascade multifunctional processes. In doing so, we highlight the main advantages of this approach along with the most important challenges and remaining questions.