A group of prominent US and Indian venture capital firms have joined forces to create the India Deep Tech Investment Alliance, a $1 billion+ initiative aimed at funding India's deep tech startups. This alliance brings together eight firms, including Accel, Blume Ventures, Celesta Capital, and Premji Invest, to support startups developing foundational technologies like artificial intelligence, semiconductors, space, quantum, robotics, biotech, energy, and climate tech.
The alliance will provide over $1 billion in long-term private capital for early-stage startups, focusing on seed to Series B investments. Member firms will offer mentorship and network access to help startups grow and succeed. They will also utilize the alliance to help their portfolio companies expand into the Indian market and tap into global supply chains.
This initiative aligns with the Indian government's ₹1 trillion Research, Development, and Innovation (RDI) scheme, announced in the national budget earlier this year. The alliance aims to leverage this scheme to support Indian-domiciled deep tech startups and strengthen US-India tech ties.
By pooling resources and influence, the member firms can engage with the government on policy and incentives, creating a more favorable environment for deep tech startups. The alliance addresses longstanding funding concerns, providing startups with the necessary capital to develop breakthrough solutions.
The India Deep Tech Investment Alliance is a significant step towards promoting innovation and entrepreneurship in India's deep tech sector. With its focus on patient capital, mentorship, and market expansion, the alliance is well-positioned to support the growth of India's deep tech ecosystem.
