Chennai-based venture capital firm Speciale Invest has closed its third investment fund at ₹600 crore. The deep-science and technology-focused firm plans to use the Fund to back 18–20 projects between 2025 and 2029.
The firm said the capital will be deployed in areas including space, advanced manufacturing, clean energy, healthcare innovation, and AI. It also aims to focus on entrepreneurs working from first principles to redefine India’s technology future.
Vishesh Rajaram, managing partner at Speciale Invest, said, “We believe the next generation of global champions will emerge from India’s labs, R&D centres, and workshops. Building for India’s resilience and sovereign capabilities is not just a national imperative; it is also a generational venture opportunity.”
Founded in 2017, Speciale Invest has been an early supporter of companies working on deep-tech solutions aimed at both commercial and strategic applications. The firm’s portfolio includes startups like Agnikul Cosmos (orbital-class launch vehicles), GalaxEye (multi-sensor satellite intelligence), QNu Labs (quantum cybersecurity), the ePlane Company (electric aerial mobility), and Inspecity (in-orbit infrastructure).
Focus on Sovereign Tech
The new fund is expected to strengthen India’s sovereign-tech capabilities, which refers to technologies developed domestically to reduce dependence on foreign systems. The company said the funds will be deployed in stages, with investments ranging from seed to early growth.
With an evolving technological landscape and geopolitical shifts, India’s need for self-reliance in critical technologies has become even more crucial. The company raised ₹600 crore in this round, as against the initial expected amount of ₹500 crore.
Funding decisions will prioritise projects with high technical entry barriers and long-term global competitiveness, and focus on investing in sectors that drive national security, resilience, and competitiveness.
“The combination of world-class technical talent, increasing policy support, and global market access has created an unprecedented window to back companies solving some of humanity’s most complex challenges from India,” said Arjun Rao, partner at Speciale Invest, calling deep tech one of the most exciting frontiers to invest in.
In a recent interview with AIM, Rao pointed out that while India’s semiconductor and space tech industries are still maturing, there is significant talent and knowledge available locally, particularly in semiconductor design.
Rao stressed this importance by noting, “We have many, many high-potential companies, but we have to give time for them to mature a little bit.”
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