NVIDIA and Qualcomm Ventures have joined a growing coalition of United States and Indian investors working to accelerate the growth of India’s deep-technology sector.

The alliance, which first launched in September with capital commitments exceeding $1 billion, aligns with the Federal Government of India’s new ₹1 trillion (approximately $12 billion) Research, Development and Innovation (RDI) initiative.

While NVIDIA has joined as a strategic technical advisor without a financial investment, Qualcomm Ventures has entered the group alongside six additional Indian venture capital firms, collectively adding more than $850 million to support deep-tech innovation across the country.

India currently hosts more than 180,000 startups, including over 120 unicorns. Initially, the ecosystem largely mirrored Western business models before expanding to global SaaS solutions.

In recent years, however, investment and innovation interests have shifted toward ventures solving larger, infrastructure-driven challenges such as satellite development, semiconductor design, electric mobility and space technology.

These ventures often require longer development timelines and higher capital commitments, making funding comparatively scarce.

To bridge this gap, Silicon Valley and India-based Celesta Capital facilitated the creation of the India Deep Tech Alliance (IDTA), which originally included investors such as Accel, Blume Ventures, Premji Invest, Gaja Capital, Ideaspring Capital, Tenacity Ventures and Venture Catalysts.

The coalition has now expanded to include Activate AI, Chiratae Ventures, InfoEdge Ventures, Kalaari Capital, Singularity Holdings and YourNest Venture Capital.

The IDTA plans to guide and support deep-tech startups through mentorship, network access and investment over the next decade.

The group will also collaborate with relevant government agencies to align with national innovation priorities outlined in the RDI initiative, which targets key sectors including energy transition, quantum computing, robotics, artificial intelligence, biotech, and advanced manufacturing.

According to Sriram Viswanathan, Founding Managing Partner at Celesta Capital and a member of the IDTA Executive Council, the coalition reflects a pivotal moment in India’s technological evolution.

NVIDIA’s role will include providing advisory support on integrating accelerated computing and artificial intelligence technologies, hosting technical training sessions through the NVIDIA Deep Learning Institute, and contributing insights to policy discussions.

Vishal Dhupar, Managing Director of NVIDIA South Asia, noted that the company is committed to supporting emerging innovators with technical expertise and computing resources.

Unlike NVIDIA, Qualcomm Ventures joins the alliance as both investor and ecosystem partner. The firm, which has previously invested in Indian companies such as MapmyIndia and IdeaForge, intends to provide startups with access to its global partnerships, portfolio network and in-house engineering expertise.

Rama Bethmangalkar, Managing Director of Qualcomm Ventures India, said collaboration between venture firms and government policy is essential for accelerating technological advancement.

Despite the coalition’s ambitious outlines, members emphasize that it is not a centralized fund. Each participating venture firm will continue operating independently while sharing insight, resources and investment opportunities where beneficial.

Deep-tech funding in India rose 78 percent year-on-year to $1.6 billion in 2024, according to data from Nasscom and Zinnov. Analysts believe the IDTA could help drive the next wave of globally competitive technology breakthroughs from India.

Bethmangalkar added that the long-term effect could be transformative.

Source: Techcrunch