$1 Bn Deep Tech Alliance Unveiled by Celesta Capital, Leading Investors

A group of investors from the US and India have launched the India Deep Tech Investment Alliance (IDTA), as announced at the SEMICON India 2025 event in Delhi on September 2, which saw participation from public and private stakeholders in the country’s deep tech ecosystem.

The alliance has secured $1 billion in commitments to support startups in the semiconductor, space, quantum, robotics, AI, biotech, medical devices, energy, climate, and digital economy sectors.

The initiative aims to accelerate entrepreneurship in deep tech across the India-US corridor. It aligns with the Indian government’s Research, Development, and Innovation (RDI) Scheme, which has allocated ₹1 lakh crore ($12 billion) to strengthen research and innovation. 

The announcement was made by Sriram Viswanathan, founding managing partner at Celesta Capital, alongside other participating firms, including Accel, Premji Invest, Blume Ventures, Gaja Capital, Ideaspring Capital, Tenacity Ventures, and Venture Catalysts.

Long-term Capital and Collaboration

Each member has committed to long-term investments in Indian-incorporated startups over five to 10 years. IDTA will also provide mentorship, market access and opportunities for companies to expand in India. 

The alliance will engage with the government to align investment with the RDI Scheme’s objectives and collaborate on co-investments, policy dialogue and expert forums.

“Deep tech represents the next frontier of global innovation, and we expect great companies to emerge from the US-India corridor,” Viswanathan said. Meanwhile, TK Kurien, CEO of Premji Invest, suggested, “India’s deep tech ecosystem will define the next wave of strategic innovation if nurtured appropriately.”

Governance and Expansion

IDTA will be overseen by an advisory committee, with Celesta Capital’s Arun Kumar serving as inaugural chair. Other committee members include representatives from Accel, Premji Invest and Venture Catalysts. The alliance intends to expand membership to include more Indian and global investors, meeting its capital and collaboration requirements.

Anand Daniel, partner at Accel, said, “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.”