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A growing list of heavyweight investors, including chip giants NVIDIA and Qualcomm, are teaming up with Indian and U.S. venture firms to fund India’s emerging deep tech ecosystem. It’s a high-stakes effort that could reshape the country’s innovation landscape over the next decade.
Let me tell you what’s happening.
Big Names, Bigger Goals
In September, a group of venture capital firms came together to form the India Deep Tech Alliance (IDTA), aiming to support startups that are tackling some of the toughest challenges in technology — think AI, robotics, quantum computing, semiconductors, space tech, and more.
This isn’t just about the usual SaaS or e-commerce models. We’re talking infrastructure-scale innovation. Deep tech. The kind of high-risk, high-reward projects that usually don’t get enough love from early-stage investors.
And now, two major players have stepped into the mix:
- NVIDIA has joined the alliance as a strategic technical advisor.
- Qualcomm Ventures is participating with capital – and quite a bit of it.
The Timing Is No Accident
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India’s startup ecosystem has matured fast. With over 180,000 startups and more than 120 unicorns, the momentum is real. But deep tech needs more time, funding, and technical firepower than traditional ventures.
That’s where the timing of this coalition gets interesting.
This whole initiative aligns with the Indian government’s massive new policy push — the ₹1 trillion (roughly $12 billion) Research, Development and Innovation (RDI) scheme. Rolled out recently by Prime Minister Narendra Modi, this plan is aimed at unlocking private investment into national priorities like energy transition, space tech, biotech, and AI.
The IDTA plans to work closely with the government to make sure funding and startups align with key policy goals.
NVIDIA: No Cash, All Brainpower
NVIDIA isn’t writing checks here, but its participation is meaningful. As one of the most influential AI hardware players out there, the company will be offering:
- Technical guidance on NVIDIA platforms
- Talks and training through the NVIDIA Deep Learning Institute
- Help with policymaking conversations between the government and private sector
According to Vishal Dhupar, NVIDIA’s managing director for South Asia, they’ll also provide access to scalable computing infrastructure for Indian startups within the alliance.
Sriram Viswanathan from Celesta Capital, who helped launch the IDTA, said NVIDIA’s involvement adds major credibility. “It’s a pretty significant validation of the ecosystem,” he told TechCrunch.
Qualcomm: Putting Dollars to Work
Unlike NVIDIA, Qualcomm Ventures is fully invested — literally. They’ve been betting on Indian startups since 2008, and past plays include MapmyIndia (now public) and drone maker IdeaForge.
But the firm wants to go beyond just money. According to Rama Bethmangalkar, who heads Qualcomm Ventures in India, the real win is in bringing startups into their wider ecosystem. That includes:
- Access to their portfolio companies
- Connections with Qualcomm’s internal teams
- Shared involvement in emerging tech policy
“It helps to be part of a group that’s aligned with what the government is thinking — whether it’s in quantum, semiconductors, AI, or beyond,” Bethmangalkar said.
So, What’s Next?
Let’s be clear: this isn’t a big managed fund with formal rules or allocations. It’s more like a supportive community of investors — one that’s committed to accelerating India’s deep tech evolution.
Investors involved still run their own programs. Deals are shared openly, but participation is voluntary. There’s no obligation, no pooling of resources — just shared goals and a growing belief that India can become a global player in emerging tech.
Photo by Aleksandr Eremin on Unsplash
And there’s real momentum. According to a report from Nasscom and Zinnov, deep tech funding in India jumped 78% in 2024, reaching $1.6 billion. Still small compared to the U.S., but that’s why alliances like this matter.
As Bethmangalkar put it, “What we need are role models to begin with. Entrepreneurs are going to get confidence capital… In ten years, you’ll start seeing these as companies listed on the main boards — deeply science- and tech-oriented firms.”
Final Thought
It’s early days for the India Deep Tech Alliance, but the ingredients are coming together: talent, capital, policy support, and now, guidance from giants like NVIDIA and Qualcomm.
And if that comes together the right way, we might just be witnessing the start of India’s deep tech decade.
🔍 Keywords: India deep tech, NVIDIA, Qualcomm Ventures, RDI scheme, India Deep Tech Alliance, Indian startups, venture capital India, semiconductor startups, AI in India, quantum computing India
🗓️ Filed under: Deep Tech, Startups, Venture Capital, Policy Impact, India Tech Ecosystem
