A coalition of venture capital and private equity firms from the U.S. and India today announced the formation of the India Deep Tech Investment Alliance (IDTA), a new industry group to mobilise private capital and expertise for deep tech companies in India that will strengthen U.S.-India deep tech collaboration. Founding IDTA members include Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts.
The IDTA’s mission is to accelerate entrepreneurship and ecosystem development within key technology sectors throughout the India-U.S. corridor, aligning with the TRUST (Transforming the Relationship Utilising Strategic Technology) initiative that was announced by President Trump and Prime Minister Modi in February this year. The IDTA launch builds on the momentum of the recent approval by the Union Cabinet of the Government of India’s Research, Development, and Innovation (RDI) Scheme, which will direct a corpus of ₹1,00,000 crore to scale R&D and innovation in strategic sectors within India.
IDTA members have committed to making long‑term, thesis‑driven investments in Indian‑incorporated startups and scale‑ups operating across semiconductors, space, quantum, robotics, artificial intelligence, biotech, medical devices, energy and climate, and the digital economy.
IDTA Overview and Member Commitments
Each member of IDTA will commit meaningful private capital over 5–10 years to Indian-domiciled deep tech enterprises.
- IDTA members will provide India-domiciled companies with mentorship, network access, and capital, while also enabling companies in their ecosystem and portfolios to expand into the Indian market.
- IDTA will offer its members a consistent and unified channel for engagement with relevant government entities overseeing the RDI Scheme to align member activity with GoI goals, guidelines and processes.
- IDTA members will collaborate in pipeline development and diligence through voluntary information‑sharing and coordination on co‑investment opportunities.
- Members will collaborate on expert convenings around priority sector development, as well as dialogue to spur innovation-friendly policy and standards.
“Deep tech represents the next frontier of global innovation, and we expect great companies to emerge and lead in this space from the U.S.-India corridor,” said Sriram Viswanathan, Founding Managing Partner at Celesta Capital. “With the catalytic support mobilised under the RDI Scheme, this is a historic opportunity to deepen U.S. - India partnership and power the next wave of transformative global companies and unlock growth opportunities that will benefit both India and the U.S.”
TK Kurien, Premji Invest CEO, said: "At Premji Invest, we believe India’s deep tech ecosystem will define the next wave of strategic innovation, if nurtured appropriately. We are excited to collaborate with India’s leaders in achieving its aim of scaling up research, development, and innovation in strategic and sunrise domains. We will bring our investment expertise and intend to invest our risk capital over the next 7-10 years in backing innovative companies in these sectors of strategic national importance. Together with government funding under the RDI scheme, we are confident of creating a globally competitive ecosystem in these critical areas."
Anand Daniel, Partner at Accel, said: “We’re structurally bullish on India’s deep-tech founders. 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. At Accel, we’re excited and humbled to partner with exceptional teams and support the long arcs of R&D needed to build world-class companies.”
Dr. Apoorva Rajan Sharma, Managing Director at Venture Catalysts, said: “Semiconductors, deep tech, and AI are India’s chance to script the next IT revolution—one that can create millions of jobs at home and open global opportunities. With 3,600+ startups making India the world’s 6th largest deep tech hub, 74% of them AI-led, and the government committing ₹20,000 crore alongside new semiconductor projects under the India Semiconductor Mission, the momentum is undeniable. India is moving from consumer to creator, with talent, policy and public–private partnerships placing the country on track to lead the next wave of deep tech and AI innovation—shaping not just chips and code, but the future of work and national competitiveness.”
IDTA will be governed by an Advisory Committee of members to facilitate shared objectives and coordination, while preserving member independence over individual funds, strategies, and investments. Celesta Capital Managing Partner and former CEO of KPMG India, Arun Kuma,r will serve as the inaugural IDTA Chair. Other members of the Advisory Committee will include representatives from Accel, Premji Invest, and Venture Catalysts.
The IDTA will expand membership significantly over time by adding global and Indian investors who make the requisite commitments to collaboration and capital deployment.
Announcement of the IDTA took place at SEMICON India, alongside public‑ and private‑sector stakeholders throughout the Indian deep tech ecosystem. IDTA is being guided by global strategic legal advisors Nishith Desai Associates.
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