"Called the India Deep Tech Investment Alliance, the group brings together Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts, the firms said in a joint statement on Tuesday. The launch follows the Indian government's approval of a ₹1 trillion (approximately $11 billion) Research, Development, and Innovation (RDI) scheme, announced in the national budget earlier this year to boost deep tech R&D."
"Eight U.S. and Indian venture capital and private equity firms - including storied investors Accel, Blume Ventures, Celesta Capital, and Premji Invest - have formed an unusual coalition to back India's deep tech startups, pledging more than $1 billion over the next decade to strengthen U.S.-India tech ties. The alliance addresses longstanding funding concerns. In April, Indian Commerce Minister Piyush Goyal drew criticism after slamming domestic startups for focusing on food delivery instead of innovation, contrasting them with Chinese firms in a presentation titled "India vs. China: The Startup Reality Check." Several investors and founders countered that India lacks capital for deep tech ventures and said Goyal's comments overlooked the determination of founders building for the local market."
Eight U.S. and Indian venture capital and private equity firms formed the India Deep Tech Investment Alliance and pledged more than $1 billion to back Indian deep-tech startups over the coming decade. The alliance includes Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts. Each member will commit private capital over a five- to ten-year period to Indian-domiciled deep tech ventures. The group aims to strengthen U.S.-India tech ties and channel long-term private funding into deep research and development. The launch follows government approval of a ₹1 trillion RDI scheme to boost deep-tech R&D.
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