New Delhi: A coalition of U.S. and Indian venture capital and private equity firms has announced the launch of the India Deep Tech Investment Alliance (IDTA), committing $1 billion to scale deep tech startups and strengthen cross-border collaboration between the two countries.
Founding members of IDTA include Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts. The alliance will mobilize capital, mentorship, and networks for Indian-incorporated startups working in semiconductors, space, quantum, robotics, AI, biotech, medical devices, energy and climate, and the digital economy.
The initiative is aligned with the Government of India’s ₹1 lakh crore Research, Development, and Innovation (RDI) Scheme, approved earlier this year, which aims to drive strategic sector innovation. IDTA members will commit long-term private investments over 5–10 years, share deal pipelines, and coordinate on co-investment opportunities. They will also engage with government bodies overseeing the RDI scheme to ensure alignment with national goals.
“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,” said Sriram Viswanathan, Founding Managing Partner at Celesta Capital. He added, “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.”
Premji Invest CEO TK Kurien said, “At Premji Invest, we believe India’s deep tech ecosystem will define the next wave of strategic innovation, if nurtured appropriately. We are excited to collaborate with India’s leaders in achieving its aim of scaling up research, development, and innovation in strategic and sunrise domains. We will bring our investment expertise and intend to invest our risk capital over the next 7-10 years in backing innovative companies in these sectors of strategic national importance. Together with government funding under the RDI scheme, we are confident of creating a globally competitive ecosystem in these critical areas.”
Accel partner Anand Daniel added, “We’re structurally bullish on India’s deep-tech founders. Over the next decade, startups will build in India and export breakthrough solutions to the world. The tailwinds are in place: ambition, talent, policy intent, and patient capital. At Accel, we’re excited and humbled to partner with exceptional teams and support the long arcs of R&D needed to build world-class companies.”
The alliance was formally launched at Semicon India 2025 in New Delhi, in the presence of public- and private-sector stakeholders. Celesta Capital Managing Partner and former KPMG India CEO Arun Kumar will serve as the inaugural Chair of IDTA’s Advisory Committee, alongside representatives from Accel, Premji Invest, and Venture Catalysts.
IDTA plans to expand membership in the coming years to include additional global and Indian investors committed to deep tech capital deployment and collaboration.
BI Bureau
