Eight top U.S. and Indian investors formed the India Deep Tech Investment Alliance, pledging over $1 billion to fund India’s deep tech startups over the next decade. The coalition features big names like Accel, Blume Ventures, Celesta Capital, and Premji Invest.
The launch responds to complaints about India’s tech funding gap, especially for startups beyond food delivery apps. Indian Commerce Minister Piyush Goyal faced backlash earlier this year for criticizing domestic startups for lacking innovation, sparking calls for more capital in deep tech.
The alliance says it will back early-stage Indian deep tech startups—focusing on AI, semiconductors, space, quantum, robotics, biotech, energy, and climate tech. Each member commits private capital over 5-10 years. The goal: fuel long-term growth and leverage India’s new ₹1 trillion ($11 billion) Research, Development, and Innovation (RDI) government scheme. 
Celesta Capital’s Arun Kumar will chair the alliance. He called the move “in line with the strategic interests of both India and the U.S. at the governmental level, focusing on critical and emerging technologies.”
The group will also provide mentorship and open network access, aiming to help startups expand into both markets.
The alliance follows the launch of the U.S.-India TRUST initiative by Presidents Trump and Modi earlier this year—despite fresh geopolitical tensions, including a 50% U.S. tariff on Indian imports.
Celesta’s Sriram Vishwanathan said the coalition plans to attract more VC and PE firms, and possibly corporates, in the future. Members must meet Indian government criteria around local incorporation and investing in “sunrise” sectors.
The alliance will coordinate on deal flow, due diligence, and policy engagement—giving investors a unified voice with government on industry rules.
“This is in line with the strategic interests of both India and the U.S. at the governmental level, focusing on critical and emerging technologies.”
Arun Kumar, Celesta Capital managing partner and alliance chair
“We have put this thing together to actually energize the ecosystem and bring like-minded investors together.”
Sriram Vishwanathan, Celesta Capital founding managing partner
“You could expect more firms to join this alliance, both financial VC firms and private equity firms.”
Sriram Vishwanathan, Celesta Capital founding managing partner
Accel partner Anand Daniel said:
“Over the next decade, startups will build in India and export breakthrough solutions to the world. The tailwinds are in place: ambition, talent, policy intent, and patient capital.”
The alliance kicks off amid political headwinds but bets big on India’s potential to build foundational tech locally and export globally. Early-stage startups could gain a critical boost after years of funding challenges.
