NVIDIA, Qualcomm Join Forces with VCs to Fuel India's Next Deep Tech Boom

NVIDIA and Qualcomm Ventures have joined a coalition of U.S. and Indian investors backing India's deep tech startups. The group, which launched in September with more than $1 billion in commitments, has now secured additional capital commitments totaling over $850 million from Qualcomm Ventures and six Indian venture firms. NVIDIA has taken on a strategic technical advisory role, without any financial commitments. According to industry insiders, the coalition's timing aligns with India's new $1 trillion (approximately $12 billion) research and development initiative. "We're excited to support India's growing deep tech ecosystem, which is poised to tackle some of the world's most pressing challenges," said a spokesperson for NVIDIA. "Our technical expertise will help accelerate the development of innovative solutions that can drive meaningful impact." The coalition's focus on deep tech startups is a significant shift from India's earlier emphasis on software-as-a-service (SaaS) companies that catered to global clients, particularly in the U.S. In recent years, however, India has sought to build ventures that tackle harder, infrastructure-scale problems, such as launching satellites, electrifying transportation, and designing semiconductors. This shift is driven by the Indian government's efforts to accelerate technological sovereignty in the face of increasing global competition. Industry experts note that capital for deep tech ventures remains scarce, as they require a longer gestation period and significant investment in research and development. "Deep tech startups need patient capital that can support them through the early stages of development," said a representative from one of the participating Indian venture firms. "This coalition provides a much-needed boost to the ecosystem, enabling entrepreneurs to focus on building innovative solutions that can drive real impact." India is home to over 180,000 startups and more than 120 unicorns, making it a thriving hub for entrepreneurship and innovation. The country's deep tech ecosystem is expected to play a critical role in driving economic growth and addressing some of the world's most pressing challenges, such as climate change, healthcare, and education. As the coalition continues to grow and attract new members, it is expected to play a significant role in shaping India's deep tech landscape. With NVIDIA and Qualcomm Ventures on board, the group is well-positioned to provide the necessary technical expertise and capital to support the development of innovative solutions that can drive meaningful impact.