NVIDIA, Qualcomm join VC alliance backing India’s deeptech startups

Nvidia and Qualcomm Ventures have joined a U.S.–India investor coalition backing research‑heavy startups, which has has secured more than $850 million in capital commitments to address a chronic funding gap.

The alliance was launched in September with a plan to mobilise more than $1 billion over the next decade across sectors such as semiconductors, space, artificial intelligence and robotics.

New corporate and venture backers added this week include Qualcomm Ventures, Activate AI, InfoEdge Ventures, Chirate Ventures and Kalaari Capital; Nvidia has joined as a founding member and strategic adviser.

Founding investors named at launch include Celesta Capital (whose founding managing partner Sriram Viswanathan has helped convene the effort), Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures and Venture Catalysts.

How the money is structured

Members committed to deploy their own capital—rather than pool funds—over a five‑ to ten‑year horizon, while providing mentorship and network access to portfolio companies.

Nvidia said it will contribute technical guidance, training and policy input to help startups adopt its AI and accelerated computing stack.

India’s research‑driven startups have faced longer development cycles and uncertain paths to profitability, limiting venture appetite; deep‑tech funding has totalled $1.6 billion in 2024—around a fifth of overall tech funding of $7.4 billion—according to industry data.

The push arrived days after New Delhi unveiled a roughly $12 billion research, development and innovation initiative aimed at strengthening domestic capabilities in critical technologies.

Celesta Capital’s Sriram Viswanathan said in reports that growing government support means “there’s no better time for India to look at deep tech,” showing how the alliance intends to be a convening platform while preserving each firm’s independence.