Insider Brief
- A coalition of U.S. and Indian venture and private equity firms launched the India Deep Tech Investment Alliance (IDTA) to mobilize capital and expertise for Indian deep tech startups, with a focus on quantum and other frontier technologies.
- The alliance aligns with India’s ₹1,00,000 crore RDI Scheme and the U.S.-India TRUST framework, with members committing 5–10 year investments across semiconductors, space, quantum, robotics, AI, biotech, medical devices, and energy.
- IDTA will provide capital, mentorship, and global networks, coordinate with the Indian government on RDI priorities, foster co-investments, and convene expert forums; governance will be led by Celesta Capital’s Arun Kumar with representatives from Accel, Premji Invest, and Venture Catalysts.
A coalition of U.S. and Indian venture capital and private equity firms has launched the India Deep Tech Investment Alliance (IDTA), a new industry group aimed at mobilizing private capital and expertise to support deep tech companies in India while strengthening U.S.-India collaboration, Celesta Capital announced. Founding members include Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts.
“Deep tech represents the next frontier of global innovation and we expect great companies to emerge and lead in this space from the U.S.-India corridor,” Sriram Viswanathan, Founding Managing Partner at Celesta Capital, said in a statement. “With the catalytic support mobilized under the RDI Scheme, this is a historic opportunity to deepen U.S. – India partnership and power the next wave of transformative global companies and unlock growth opportunities that will benefit both India and the U.S.”
According to Celesta Capital, the IDTA’s mission is to accelerate entrepreneurship and ecosystem development in critical technology sectors spanning semiconductors, space, quantum, robotics, artificial intelligence, biotech, medical devices, energy and climate, and the digital economy. The initiative aligns with the U.S.-India TRUST (Transforming the Relationship Utilizing Strategic Technology) framework announced earlier this year and builds on the Indian government’s recent Research, Development, and Innovation (RDI) Scheme, which dedicates ₹1,00,000 crore to scaling R&D in strategic sectors.
- Members have pledged long-term, thesis-driven investments over 5–10 years in India-domiciled startups and scale-ups.
- Beyond capital, members will provide mentorship and access to global networks and support portfolio companies in expanding into India.
- The alliance will create a unified channel for engagement with government stakeholders overseeing the RDI Scheme.
- IDTA will ensure alignment with national priorities, goals, and standards.
- Members will collaborate on investment pipeline development and co-investment opportunities.
- IDTA will host expert convenings around sector-specific innovation and policy.
“At Premji Invest, we believe India’s deep tech ecosystem will define the next wave of strategic innovation, if nurtured appropriately,” noted TK Kurien, Premji Invest CEO. “We are excited to collaborate with the Indian government in achieving its aim of scaling up research, development, and innovation in strategic and sunrise domains.”
The alliance will be governed by an Advisory Committee led by Arun Kumar, Managing Partner of Celesta Capital and former CEO of KPMG India, with representatives from Accel, Premji Invest, and Venture Catalysts. The IDTA intends to expand its membership over time to include additional Indian and global investors committed to deep tech collaboration.
Dr. Apoorva Rajan Sharma, Managing Director at General Catalysts said semiconductors, deep tech, and AI are India’s opportunity “to script the next IT revolution.”
“With 3,600+ startups making India the world’s 6th largest deep tech hub, 74% of them AI-led, and the government committing ₹20,000 crore alongside new semiconductor projects under the India Semiconductor Mission, the momentum is undeniable,” Sharma said. “India is moving from consumer to creator, with talent, policy and public–private partnerships placing the country on track to lead the next wave of deep tech and AI innovation—shaping not just chips and code, but the future of work and national competitiveness.”
Celesta noted the launch was announced at SEMICON India, with participation from both public- and private-sector stakeholders. Nishith Desai Associates is serving as global strategic legal advisor to the alliance.
