New Delhi: Leading venture capital and private equity firms from India and the United States announced the launch of the India Deep Tech Investment Alliance (IDTA), a new industry group established to mobilize private capital, expertise, and mentorship for India’s deep tech ecosystem.
Founding members of the India Deep Tech Investment Alliance include Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts.
Together, they have pledged more than $1 billion in capital commitments to date, targeting Indian-domiciled deep tech startups and scale-ups across sectors such as semiconductors, space, quantum computing, robotics, artificial intelligence, biotechnology, medical devices, energy and climate, and the digital economy.
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The launch of India Deep Tech Investment Alliance builds on the recent approval of the Government of India’s ₹1,00,000 crore Research, Development, and Innovation (RDI) Scheme and aligns with the U.S.-India TRUST (Transforming the Relationship Utilizing Strategic Technology) initiative.
Commitments of the India Deep Tech Investment Alliance
- Long-term, thesis-driven private capital investments in Indian-domiciled deep tech enterprises.
- Mentorship, network access, and expansion opportunities for Indian companies.
- Unified engagement channel with government entities overseeing the RDI Scheme.
- Voluntary collaboration on pipeline development, diligence, and co-investment opportunities.
- Hosting expert convenings to advance innovation-friendly policy and standards.
Sriram Viswanathan, Founding Managing Partner at Celesta Capital, said, “Deep tech represents the next frontier of global innovation. With catalytic support from the RDI Scheme, this is a historic opportunity to deepen U.S.-India partnership and build transformative global companies.”
TK Kurien, CEO of Premji Invest, added, “India’s deep tech ecosystem will define the next wave of strategic innovation. Over the next 7-10 years, we will invest risk capital to back innovative companies in sectors of national importance.”
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Anand Daniel, Partner at Accel, emphasized, “We are structurally bullish on India’s deep tech founders. With ambition, talent, policy intent, and patient capital, startups in India will create breakthrough solutions for the world.”
Dr Apoorva Ranjan Sharma, Managing Director at General Catalysts, noted, “Semiconductors, deep tech, and AI are India’s chance to script the next IT revolution. With over 3,600 deep tech startups, 74% of which are AI-led, the momentum is undeniable.”
The India Deep Tech Investment Alliance will be governed by an Advisory Committee of members, ensuring shared objectives while maintaining independence over individual fund strategies. Arun Kumar, Managing Partner at Celesta Capital and former CEO of KPMG India, will serve as the inaugural Chair. Representatives from Accel, Premji Invest, and Venture Catalysts will also be part of the Advisory Committee.
The alliance intends to expand membership by onboarding additional global and Indian investors who commit to capital deployment and collaborative engagement. The announcement was made at SEMICON India, in the presence of stakeholders from across the country’s deep tech ecosystem. IDTA is being guided by global strategic legal advisors Nishith Desai Associates.
