Eight VCs launch India Deep Tech Alliance (IDTA)
The alliance has given the funding commitment of more than $1Bn for next decade
It will back start-ups in semiconductors, AI, spacetech, biotech, energy, and more
A group of eight leading venture capital firms from India and the US have launched ‘India Deep Tech Alliance (IDTA)’ to pledge over $1 billion in funding for deeptech start-ups over the next decade. Celesta Capital’s founding managing partner Sriram Viswanathan made this announcement at SEMICON India 2025 in New Delhi on Tuesday.
Viswanathan said the alliance seeks to channel private capital and expertise to build category-defining deeptech companies from India to serve the world and deepen the US-India innovation partnership. These VCs include Blume Ventures, Accel, Gaja Capital, Premji Invest, Tenacity Ventures, Venture Catalysts, and Ideaspring Capital.
“The alliance expects the capital commitment to expand with the addition of new members to the alliance in future,” Viswanathan added. Every IDTA member plans to deploy funds into India’s deeptech ecosystem over the next 10 years.
These VCs will cover sectors such as semiconductors, space technology, quantum computing, robotics, artificial intelligence, biotechnology, medical devices, clean energy, climate solutions, and more. Initially, the alliance will invest in the semiconductor industry, according to IT minister Ashwini Vaishnaw.
PM Modi on Semiconductors
As India builds its complete semiconductor ecosystem, Prime Minister Narendra Modi, at the inauguration of India Semicon 2025, said the day is not far when the country will not only design but also emerge as a major market for the global semiconductor industry.
“The participation of 30–40 countries at Semicon, along with the energy of our youth and the spirit of innovation, shows that the world trusts India and is ready to shape the future of semiconductors with us,” said PM Modi.
He assured that as the global semiconductor market heads towards becoming a $1 trillion economy, India will secure a significant share of it.
PM Modi noted that around $18 billion has been invested across 10 semiconductor plants, and lauded the single-window clearance system, which has reduced the time from ‘files to factories’ and helped attract more global investors to India’s semiconductor industry.
Vaishnaw also urged global investors to look to India, noting that even as global policies shift in turbulent times, India is emerging as a leader.
