On Wednesday, Nvidia initiated the new venture by joining as a founding member and strategic technical advisor, securing an additional $850 million in capital commitments from the new and existing members.
It is a move designed to boost India’s deep tech startup ecosystem and bring the total potential investment pool to nearly $2 billion.
Nvidia will serve as a strategic technical advisor, specifically advising on incorporating best practices for utilising Nvidia AI and accelerated computing software and hardware technologies to achieve optimal computational performance.
Additionally, with the strategic guidance and technical expertise, Nvidia will be supporting ecosystem building and early access to innovative Indian startups so that they can become future customers for Nvidia platforms.
Indian Deep Tech Alliance’s primary concern is on investment mechanisms and aligning with the government initiatives, as the alliance’s efforts align with the Indian government’s substantial ₹1 lakh crore (approx. $12 billion) Research, Development and Innovation (RDI) scheme, providing a unified channel for engagement with government entities.
In addition to Nvidia, the other members making the list of joining the alliances are Qualcomm Ventures, Activate AI, Chiratae Ventures, InfoEdge Ventures, Kalaari Capital, Singularity Holdings, and YourNest Venture Capital.
The goal of this alliance is to develop core technologies in sectors such as AI, Semiconductors, space, quantum computing, robotics, and align with the government’s ₹1 lakh crore Research and Development (R&D) scheme.
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The capital commitment is a voluntary pledge from individual member firms to deploy their own capital over the next five to ten years; there is no single pooled fund.
