Nvidia has collaborated with investors from India and the US to support deep-tech startups in India, as the India Deep Tech Alliance has secured over $850 million in new funding commitments, according to reports.

The collaboration, launched in September with an initial fund of $1 billion, aims to address the funding gap in research-oriented areas such as space, semiconductors, artificial intelligence (AI), and robotics.

The recent backers of the alliance include Qualcomm Ventures, Activate AI, InfoEdge Ventures, Chirate Ventures, and Kalaari Capital. As a founding member and strategic advisor, Nvidia will offer technical assistance, training, and policy guidance to help Indian startups integrate its AI and computing technologies.

Sriram Viswanathan, founding managing partner at Celesta Capital, remarks, “Government assistance was contributing to the swift progress of innovation within the sector. Now is the ideal time for India to delve into deep tech."

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Despite a rise in investor interest, deep-tech startups in India still face funding challenges due to lengthy development periods and uncertain profit margins. In 2023, funding for deep-tech rose by 78 percent to $1.6 billion; however, this accounted for only one-fifth of the total $7.4 billion raised by all startups, according to Nasscom.

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The collaboration, consisting of Celesta, Accel, Blume Ventures, Gaja Capital, and Premji Invest, intends to invest its own resources into Indian deep-tech startups over the next 5-10 years. Members will also provide direction and entry to the industry. Capital isn't genuinely aggregated. It's not mandatory," Viswanathan commented, comparing the setup to Nasscom's model.

The move aligns with the Indian government's recent initiative of $12 billion aimed at boosting research and development. The program seeks to bolster India’s capabilities in critical technologies like semiconductors and AI, sectors deemed crucial for economic and strategic independence.

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Huang, who was born in Taiwan and grew up in the US, co-founded Nvidia in 1993 and has led the company ever since. Due to his leadership, Nvidia’s H100 and Blackwell chips have become essential for large-language models powering applications like ChatGPT and xAI.