New Delhi– Global chipmaker Nvidia has joined a group of Indian and U.S. investors to strengthen India’s deep-tech startup ecosystem, as the India Deep Tech Alliance announced more than $850 million in new capital commitments on Wednesday.
The alliance, launched in September with an initial $1 billion fund, focuses on startups developing advanced technologies including semiconductors, artificial intelligence, robotics, and space systems. The latest funding commitments bring new investors into the group, including Qualcomm Ventures, Activate AI, InfoEdge Ventures, Chirate Ventures, and Kalaari Capital.
Nvidia, a founding member and strategic advisor to the alliance, is expected to provide technical expertise, training support, and policy guidance to help startups build products using its AI and high-performance computing platforms.
Industry analysts say the initiative addresses a major challenge faced by deep-tech startups in India, which often require longer funding horizons due to research-intensive development cycles and slower paths to profitability when compared to consumer-facing ventures.
The new funding announcement follows the Indian government’s recent $12 billion program aimed at boosting research and development in high-tech sectors, signaling broader momentum toward building an innovation-driven economy.
Data from Nasscom shows that deep-tech startups in India attracted about $1.6 billion in funding in 2023, up 78 percent from the previous year. However, deep-tech companies still represent a small share of India’s total startup investment volume, with $7.4 billion raised overall across sectors last year.
The fresh commitments are widely seen as part of a strategic effort to shift India’s startup ecosystem from primarily service-oriented offerings toward long-term innovation in areas critical to global technology supply chains. (Source: IANS)
