DEEPTECH
India to be deep tech powerhouse and big part of Siemens' game plan
Siemens AG plans to increase software and digital services sales to 20%, with India being a key player in this strategy, according to CEO Roland Busch. The company has invested in expanding its software portfolio and collaborating with Microsoft on AI technology. India is a vital region for Siemens, where it aims to grow its human resources capital and manufacturing capabilities, targeting both local and global markets.
AI startup OrbitShift raises $7 million in funding led by Peak XV's Surge, Stellaris Venture Partners
AI startup OrbitShift has raised $ 7 million in funding from Peak XV Partners' accelerator programme Surge and Stellaris Venture Partners. The AI-powered sales intelligence startup will use the capital to increase its customer base in the US, and invest further in technology and product team to hone its portfolio.
8X Ventures closes India-focused deeptech fund at Rs 200 crore
8X Ventures announced the first close of its second India-focused deeptech fund at Rs 200 crore, with a green shoe option of Rs 100 crore, aiming to back 18-20 early-stage Indian deeptech startups over three years.
Deep tech policy before cabinet soon to unlock long-term funds
The government plans to introduce a deep tech startup policy with a fund of funds for companies in the sector. An umbrella framework will guide state governments and startups. The policy will focus on research, development, innovation, intellectual property, and funding access for deep tech startups. Comments have been sought from 18 different ministries and government departments so far.
100-Day action plan: DPIIT looking to start up funding & spur manufacturing push
The Department for Promotion of Industry and Internal Trade (DPIIT) in India is planning to focus on easing early-stage funding for startups, reducing compliance burdens, and reducing logistics costs as part of its 100-day action plan. The plan includes a policy for deep-tech startups, reforms for ease of doing business, and a public-private partnership model of governance.
Manufacturing startup Ethereal Machines secures $13 million from Peak XV, Steadview Capital
Existing investors Blume Ventures, Enam Investments, and WestBridge Capital managing director Sandeep Singhal also join fundraise. Deeptech startup in India develops proprietary multi-axis computer numerical control (CNC) machines and uses them to produce precision parts for the aerospace, healthcare, and consumer electronics industries.
- Go To Page 1
Why deeptech companies need to do a deep-dive on gender diversity
Indian companies, particularly in the IT sector, have made some progress in gender diversity but still face significant challenges, especially in the deeptech sector. A report by Pure Storage and Zinnov highlights these issues, revealing that while global capability centres (GCCs) employ 1.66 million people with 28% being women, this diversity decreases sharply at higher corporate levels, dropping to just 6.7% at the executive level.
SanchiConnect, YourNest Venture Capital launch accelerator for deeptech hardware and software startups with Core IP
The program is open to startups in a wide range of sectors including agritech, adtech, biotech, consumer/retail, energy, martech, manufacturing, and foodtech.
First global showcase of deeptech startups by SanchiConnect in collaboration with ThinKuvate in Singapore
Deeptech startup enablement community SanchiConnect announced its upcoming delegation to Singapore for EchelonX and fundraising program designed for community startups.
TIPS 4.0 sparks deeptech innovation: Over 40 deeptech startups garner funding commitments
The 4th National Workshop on Technology Innovation in Cyber-Physical Systems was hosted by the Technology Innovation Hub for IoT & IoE (TIH-IoT) at IIT Bombay.
Deeptech startup Myelin Foundry raises $4 million led by Sidbi Venture Capital
Myelin Foundry secured $4 million with participation from existing investors. The funds will fuel platform development, global expansion, and solidify their edge AI leadership.
Log analytics firm Parseable raises $2.75 million from Peak XV's Surge
Nitish Tiwari launched Parseable in 2022. The company focuses on helping businesses handle the growing challenge of log data by storing, managing, and analyzing it using cloud-based solutions. Parseable makes use of open-source formats like Apache Parquet and Apache Arrow to ensure data can be processed and work seamlessly with other systems.
Good Capital plans to invest $25 million in Indian AI startups this fiscal
Good Capital plans to invest USD 25 million in Indian AI startups from the USD 50 million Fund II by 2027. The focus includes cleantech, e-commerce, edtech, healthtech, SaaS, deeptech, and utilizing intermediaries for low acquisition costs.
Early stage VC IvyCap Ventures announces final close of third fund at Rs 2,100 crore
The fund is allocating a significant portion of its third fund to invest in around 25 early-stage startups. These initial investments will typically range from Rs 30 crore to Rs 50 crore. Some of the startups that have already received funding include Dhruva Space, Snitch, Celcius Logistics, GradRight, Eggoz, and Flexifyme.
Agritech startup Ecozen raises $30 million in funding
The funding was a mix of equity and debt from existing investors. Ecozen has grown fivefold over the past two years, with a 3x increase in profit, the company said. The maker of solar powered cold storage room and pump controllers aims to double its revenue in 2024-25.
ETtech Deals Digest: startup funding plummets 67% on year to $73 million this week
During this week, deal density went down to about $4.5 million per deal, as per Tracxn data. During April 6 to April 12, 2023, startups had raised about $7.4 million per deal.
Startup Mahakumbh: deeptech, data, AI take centrestage on day 2
India is possibly the world leader in AI-first startups today, Amit Kumar, director and head of digital natives business at Google Cloud India, said.
Exclusive: Malabar eyes Sugar stake; India’s deep tech policy coming soon
India-focused Malabar Investments is in talks to pick a Rs 80-100 crore stake in Sugar Cosmetics via a secondary deal. This and more in today's ETtech Morning Dispatch.
Startup Mahakumbh kicks off; Blinkit to pip Zomato soon: Deepinder Goyal
A dedicated policy for deeptech startups is on the anvil, a senior government official said at the Startup Mahakumbh on Monday. This and more in today's ETtech Top 5.
Startup Mahakumbh | Deeptech policy in final stages of consultations: DPIIT secretary
DPIIT secretary discusses deeptech startup policy at Startup Mahakumbh event with thousands of participants and supporters. The event aims to boost the startup ecosystem with various stakeholders involved.
India needs different approach to AI; focus on opportunities holds the key: Nasscom president Debjani Ghosh
During the Startup Mahakumbh, Debjani Ghosh said,"India has to be different and stand up and talk about the opportunity narrative of AI, of course with the right oversights."
India needs more founders with deep technical expertise: Peak XV’s Rajan Anandan
The next frontier for the country’s entrepreneurial landscape would be to foster industries built on intellectual property which can be addressed over the next two decades, Anandan said during a fireside chat with Deepak Dara of Ontario Teachers’ Pension Plan at the Indian Venture and Alternate Capital Association (IVCA) event in Mumbai.
IIT Madras Pravartak ties up with Jharkhand University of Technology to boost deep-tech disciplines
The partnership will focus on innovation, skill development, industry-academia collaboration and incubation support for nurturing startups, a statement said.
Budget speech mention of deeptech leaves industry wanting more
Industry participants, investors and founders alike, expressed enthusiasm for the potential scheme’s push to the deeptech startup ecosystem that has seen the likes of Ideaforge, Tonbo Imaging and PierSight – across stages of maturity that have defence-led applications.
Unveiling India's Rs 6.21 lakh crore Defence budget with a dual focus on self-reliance and export boost
Finance Minister Nirmala Sitharaman has unveiled a staggering allocation of Rs 6.21 lakh crore for the Ministry of Defence during the Interim Budget presentation. This marks a 4.3% increase from the previous year, constituting 13.04% of the Union Budget. A key feature is the introduction of the DeepTech Initiative, focusing on cutting-edge technologies for defense. The budget breakdown includes allocations for capital expenditure, defense pensions, and defense services, with a strategic emphasis on digitization, modernization, and self-sufficiency in defense.
Interim Budget 2024: Govt to launch new scheme to fuel deep-tech innovation in defence
Interim Budget 2024: A new scheme will be launched to strengthen deep tech for the defence sector, Finance Minister Nirmala Sitharaman said. Presenting the interim Budget 2024-25, Finance Minister Nirmala Sitharaman also said the government will promote public and private investment in post-harvesting agriculture activities.
2023 Year in Review: How money followed deeptech companies at tech’s frontier
Deeptech is a term for businesses using advanced science and technology to find solutions for complicated problems across over a dozen sectors. The year saw a steady increase in investor interest in high-tech innovation-focused companies.
Deeptech VC Java Capital announces final close of first fund at Rs 50 crore
The investor had announced the first close at Rs 30 crore in December last year, to back startups in the deeptech, climatetech and business-to-business (B2B) segment.
Deeptech IoT startup Datoms secures $1.2 million in funding led by Yournest VC
Datoms plans to use the funding to strengthen its product offerings to build various use cases in the construction warehousing industry. It will also focus on enhancing in-house AI/ML capabilities and market expansion across India and the Middle East.
Load More