Nvidia, investors swoop as India’s deep tech lags

Graphics processor manufacturer Nvidia has aligned with American and Indian backers to fund domestic technology ventures after the India Deep Tech Alliance revealed commitments exceeding $850 million on Wednesday. The group added participants such as Qualcomm Ventures and Kalaari Capital to its roster, which launched during September with $1 billion targeting companies developing semiconductors, robotics and space systems.

Nvidia will serve as a founding member and strategic adviser, providing technical assistance and training to help entrepreneurs implement its computing platforms into their operations. The expansion arrives shortly after New Delhi announced a $12 billion program to advance research across sophisticated industries. According to data from trade association Nasscom, Indian firms working on advanced technologies secured approximately $1.6 billion during 2023, representing 78 percent growth from the prior year but constituting only one-fifth of the $7.4 billion total raised by all startups.

The initiative addresses capital access problems for ventures requiring extended development periods before generating returns. India seeks to shift from service-oriented activities toward manufacturing and innovation leadership as global corporations increase their participation in the nation’s emerging technology sector.