New alliance on deep tech IDTA gets USD 1-bn commitment from investors

New Delhi, Sep 2 (PTI) A new industry coalition, India Deep Tech Alliance (IDTA), has got an over USD 1 billion of commitments from investors, and it aims to create globally significant companies in semiconductors, AI, space and other critical sectors.

The India Deep Tech Alliance (IDTA) was unveiled on Tuesday at Semicon India 2025, with an initial capital commitment of over USD 1 billion from global and Indian investors.

Founding members of the coalition include Celesta Capital, Accel, Premji Invest, Venture Catalysts, Bloom VC, Gaja Capital, Ideaspring, and Tenacity Ventures.

Collectively, they have pledged over USD 1 billion at launch, with expectations for this figure to rise substantially as additional members join in coming days and months, according to a statement.

The alliance aims to accelerate the growth of India's deep tech ecosystem, leveraging private capital and expertise to create globally significant companies in critical fields such as semiconductors, AI, biotechnology, space, defence, and the digital economy, it said.

Announcing the initiative, Sriram Viswanathan, Founding Managing Partner at Celesta Capital, stated, "Our shared purpose in this coalition is simple yet ambitious: to mobilise private capital and expertise to build category-defining deep tech companies from India that will serve the world and strengthen the US-India corridor." Each member of the alliance plans to deploy significant capital over the next 5-10 years into deep tech companies incorporated in India, scaling opportunities in industries vital for achieving technological sovereignty.

IDTA is designed to build on the momentum of India's recently launched Research Development and Innovation Scheme, a Rs 1 lakh-crore initiative to scale research and development across strategic technology sectors, Viswanathan said.

Beyond funding, the alliance will provide mentorship, customer access, support for global supply chains, and facilitate cross-border market entry.

"We will pair capital with mentorship, access to customers and global supply chains, support for cross-border market entry, helping India domicile companies to go global, and help promising companies from the US and other parts of the world to expand into India for greater collaboration," he said. PTI ANK PRS HVA