The India Deep Tech Alliance (IDTA), a coalition of venture capital firms, corporations, and investors, announced on 5 November that it has secured new commitments of more than Rs 7,500 crore ($850 million) and added new members, including global chipmakers Nvidia Corp. and Qualcomm Ventures, to strengthen the country’s deep tech ecosystem.

Other newcomers include Activate AI, Chiratae Ventures, InfoEdge Ventures, Kalaari Capital, Singularity Holdings VC, and YourNest Venture Capital, as the alliance expands its size and global reach to invest in deeptech firms.

IDTA was launched in September at SEMICON India with a $1 billion initial capital commitment. The goal is to provide private financing and technical knowledge to early-stage Indian deeptech companies in AI, semiconductors, space, robotics, biotech, energy, and advanced manufacturing.

“We see AI-led intelligent computing as the foundation for the next wave of innovation. India’s deep tech community plays a critical role in realising the global AI opportunity, and we’re excited to join the IDTA to support the ecosystem,” said Quinn Li, Senior Vice President, Qualcomm Technologies, Inc. and Global Head of Qualcomm Ventures.

According to the team, the fund was founded on the momentum of India’s recently launched Research, Development, and Innovation (RDI) Scheme, a Rs 1 lakh crore program to grow research and development across vital technological sectors.

“Members of IDTA aim to voluntarily invest capital and foster mentorship and network access to startups over the next 5–10 years, as well as engage with the government around the RDI scheme, voluntarily cooperate on co-investment opportunities, and explore other collaborations,” it added.

IDTA members currently include Accel, Blume Ventures, Celesta Capital, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts.

Sanjeev Bikhchandani, Founder, InfoEdge, said: “Now is India’s AI and deep tech moment – talent, demand, and policy are getting aligned and we hope several science and engineering breakthroughs will go on to become profitable businesses. At InfoEdge, we not only innovate in AI but through our investments, we pair patient, founder-first capital with hands-on support to turn lab wins into enduring deep tech companies.”

Sudhir Sethi, Founder and Chairman of Chiratae Ventures, agreed that deeptech will drive India’s next phase of value creation in industries such as semiconductors, AI, robots, space, and advanced manufacturing.  “Through IDTA, we intend to work throughout the ecosystem to guarantee the government’s RDI ambition is translated into globally competitive enterprises.

Vani Kola, Managing Director of Kalaari Capital, stated that deeptech signals India’s shift from growing global companies to developing foundational technologies.  Furthermore, Aakrit Vaish, Co-founder of Activate AI, believes the alliance’s emphasis on AI and core technology development is timely.

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