NVIDIA and Qualcomm Ventures have joined a growing coalition of U.S. and Indian investors backing India’s deep tech startups. The group launched in September with more than $1 billion in commitments, timing that aligns with India’s new ₹1 trillion (around $12 billion) research and development initiative.
NVIDIA has joined the coalition as a strategic technical advisor, without any financial commitments, while Qualcomm Ventures has come on board alongside six Indian venture firms, bringing additional capital commitments totaling more than $850 million.
India is home to more than 180,000 startups and over 120 unicorns. In its early years, much of the ecosystem closely mirrored Western business models before evolving into SaaS companies that serve global clients, especially those in the U.S. In recent years, however, India’s focus has shifted to building ventures that tackle harder, infrastructure-scale problems — from launching satellites and electrifying transportation to designing semiconductors. The Indian government has sought to accelerate this shift as major economies race to secure technological sovereignty. Yet capital for such ventures remains scarce, as they require a longer gestation period than traditional sectors and most VCs favor proven, lower-risk models.
In September, Silicon Valley- and India-based Celesta Capital spearheaded the launch of the India Deep Tech Alliance (IDTA) to bridge that gap, bringing together seven major U.S. and Indian investors — Accel, Blume Ventures, Premji Invest, Gaja Capital, Ideaspring Capital, Tenacity Ventures, and Venture Catalysts. The latest addition includes Indian venture firms Activate AI, Chiratae Ventures, InfoEdge Ventures, Kalaari Capital, Singularity Holdings, and YourNest Venture Capital.
The coalition aims to invest capital and provide mentorship and network access to Indian deep-tech startups over the next five to ten years. It also plans to collaborate with the Indian government on its policy initiatives, includ …