The India Deep Tech Alliance (IDTA), a coalition of venture capital firms, corporates and investors, on November 5 said it has secured fresh commitments of over Rs 7,500 crore ($850 million) and added new members including global chipmakers Nvidia Corp. and Qualcomm Ventures to boost the country’s deep tech ecosystem.
Other new entrants include Activate AI, Chiratae Ventures, InfoEdge Ventures, Kalaari Capital, Singularity Holdings VC, and YourNest Venture Capital as the coalition expands the scale and global footprint to fund deeptech startups.
IDTA was launched in September at SEMICON India with $1 billion in initial capital commitments. The aims is to mobilise private capital and technical expertise for early-stage Indian deeptech companies across AI, semiconductors, space, robotics, biotech, energy, and advanced manufacturing.
"We see AI-led intelligent computing as the foundation for the next wave of innovation. India's deep tech community plays a critical role in realising the global AI opportunity, and we're excited to join the IDTA to support the ecosystem," said Quinn Li, Senior Vice President, Qualcomm Technologies, Inc. and Global Head of Qualcomm Ventures.
The fund, as per the team, was build on the momentum of India's recently launched Research, Development and Innovation (RDI) Scheme, a Rs 1 lakh-crore initiative to scale research and development across strategic technology sectors.
"Members of IDTA aim to voluntarily invest capital and foster mentorship and network access to startups over the next 5–10 years, as well as engage with the government around the RDI scheme, voluntarily cooperate on co-investment opportunities, and explore other collaborations," it added.
Existing IDTA members include Accel, Blume Ventures, Celesta Capital, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts.
Sanjeev Bikhchandani, Founder, InfoEdge said: "Now is India's AI and deep tech moment – talent, demand, and policy are getting aligned and we hope several science and engineering breakthroughs will go on to become profitable businesses. At InfoEdge, we not only innovate in AI but through our investments, we pair patient, founder-first capital with hands-on support to turn lab wins into enduring deep tech companies."
Sudhir Sethi, Founder and Chairman of Chiratae Ventures, echoed that deeptech will drive India’s next era of value creation in areas like semiconductors, AI, robotics, space, and advanced manufacturing. “Through IDTA, we hope to collaborate across the ecosystem to help ensure the government’s RDI vision translates into globally competitive companies.
Vani Kola, Managing Director, Kalaari Capital, said deeptech represents India’s transition from scaling global products to building foundational technologies. Adding to that, Aakrit Vaish, Co-founder of Activate AI, said the alliance’s focus on AI and core technology research is timely.
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