NVIDIA and Qualcomm Ventures have joined a growing coalition of investors backing India’s deep tech startups, marking a major step in the country’s push to strengthen innovation in areas like AI, robotics, and semiconductors.
The coalition, known as the India Deep Tech Alliance (IDTA), was launched in September with over $1 billion in commitments, coinciding with India’s new ₹1 trillion ($12 billion) Research, Development, and Innovation (RDI) initiative.
While NVIDIA has joined as a strategic technical advisor, offering guidance, AI expertise, and training, it has not made a financial commitment. Qualcomm Ventures, on the other hand, has invested alongside six Indian venture firms, adding $850 million in new capital.
The alliance, led by Celesta Capital, includes major investors like Accel, Blume Ventures, Premji Invest, Gaja Capital, Ideaspring Capital, Tenacity Ventures, and Venture Catalysts, with new participants such as Activate AI, Chiratae Ventures, InfoEdge Ventures, Kalaari Capital, Singularity Holdings, and YourNest Venture Capital.
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The IDTA aims to fund and mentor Indian deep tech startups over the next decade, collaborating with the Indian government on the RDI scheme, which supports innovation in quantum computing, biotech, space tech, and AI.
“This is a turning point in the Indian entrepreneurial ecosystem in favor of deep tech,” said Sriram Viswanathan, founding managing partner of Celesta Capital.
NVIDIA’s role includes advising startups on integrating its AI and computing platforms, offering training through the NVIDIA Deep Learning Institute, and participating in policy dialogues to boost India’s tech capabilities. Qualcomm Ventures, meanwhile, plans to help startups access its global networks and internal teams.
India’s deep tech funding surged 78% year-over-year to $1.6 billion in 2024, according to Nasscom and Zinnov, though it still lags behind Western markets. The IDTA’s efforts aim to change that by attracting global capital and showcasing India as a rising hub for science-driven innovation.
