New Delhi: Nvidia has officially joined a coalition of Indian and United States investors backing India’s deep-tech startup ecosystem, securing more than $850 million in the latest capital commitments to close a chronic funding gap in the sector. The United States chip giant has joined the India Deep Tech Alliance, which is generally known as IDTA, and has now pledged a total of $2 billion to support emerging companies in fields such as AI, semiconductors, space, and robotics.
According to some sources, Nvidia has joined the alliance as a founding member and the strategic advisor, a role that will generally focus on transferring technical expertise rather than the direct financial contribution. The world’s most valuable company will offer advice and policy input to help the Indian deep-tech startups adopt its advanced AI and computing tools. It will also help in delivering technical talks and training through its Nvidia Deep Learning Institute. Nvidia’s Managing Director for South Asia, Vishal Dhupar, stated that the company wants to provide guidance on AI systems, developer enablement, and responsible deployment, and to collaborate with policymakers, investors, and entrepreneurs.
However, Sriram Viswanathan, Founding Executive Council Member of the IDTA, acknowledged the value of the partnership. Nvidia’s depth of expertise in AI systems, software, and ecosystem-building will benefit our network of investors and entrepreneurs. Now there will be many people who don’t even know about the India Deep Tech Alliance and its focus. Generally, it was launched in September with an initial $1 billion commitment. The IDTA has significantly expanded its backing with the latest investors, including Qualcomm Venture, Activate AI, InfoEdge Ventures, Chirate Ventures, and Kalaari Capital.
The Alliance basically aims to tackle what the founders and analysts describe as the chronic underfunding of research-driven startups in India. These companies often struggle to attract venture capital due to their long development timelines and uncertain path to profitability. While the deep-tech funding in India has surged 78% to $1.6 billion last year, it still accounted for only about one-fifth of the $7.4 billion raised overall.
