SUMMARY
- Riceberg Ventures launched a $20M fund to support 25-30 deep-tech startups with $0.5M investments.
- Founders emphasize fostering disruptive innovations, empowering Indian entrepreneurs to tackle global challenges in deep-tech industries.
- Government initiatives like National Research Foundation fund bolster support for India’s deep-tech ecosystem growth.
Riceberg Ventures, an early-stage VC firm, established a $20 million fund on Tuesday with the goal of investing in deep tech firms. With an average ticket size of $0.5 million, the fund seeks to invest in roughly 25–30 deep-tech startups in order to fill the funding gap in the deep-tech industry, which includes, among other areas, robots, artificial intelligence, cybersecurity, and space technology.
Ankit Anand, a founding partner of Riceberg Ventures stated, “Deep-tech has always been at the forefront of industry-defining innovations. While it’s a buzzword today, we began our journey before it gained mainstream recognition. True venture success comes from investing in disruptive solutions that create entirely new markets or redefine existing ones. This fund is our commitment to supporting deep-tech entrepreneurs tackling complex global challenges.”
Founding Partner, Riceberg Ventures Mredul Sarda said, “Our mission is to empower Indian researchers and entrepreneurs to take center stage, providing them with the resources needed to build the next Google or SpaceX.”
Established in 2023, the venture capital business has made investments in firms like Signatur Biosciences and Manastu Space, which specializes in space logistics. Regulations supporting the deep-tech startup ecosystem have increased thanks to government programs like the ₹50,000 crore National Research Foundation fund and the ₹10,000 crore Startup Fund of Funds.
The business claims that lengthy R&D and incubation times in this industry provide difficulties and frequently deter investment in these businesses. By giving these startups funding and resources to empower them, the venture capital firm hopes to close this gap.
