Deep tech investments in India doubling every three years, crossed $1 billion between 2021-23: Report Premium
The Hindu
AI and biotechnology lead deep tech funding in India, material science gathering momentum in recent years, says the newly-released report by VC firm Ankur Capital.
Total deep science tech investments have doubled in the last three years, and crossed $1 billion in the 2021-2023 period, according to a newly released report by VC firm Ankur Capital which focuses on deep tech/science investments.
Titled ‘The India Deep Science Tech Report,’ the report notes that investments have consistently doubled every three years since 2010, with projections to surpass $10 billion by 2029.
“The growth is driven by two factors. On the one hand, more seed-stage investments are happening in deep science tech. Secondly, growth-stage investments have also kicked in. For example, most first-generation biotech companies, founded between 2013 to 2015, are now going to raise series A or b or further,” says Suraj Nair, investment associate-deep tech at Ankur Capital and co-author of the report.
According to the report, while the number of investments has been growing linearly, the number of investment rounds over $5 million has been growing exponentially.
“This number too, has followed the rule of three: it has doubled in every 3-year period,” reads the report, which pegs the current global deep tech market size at $300 billion+.
AI and biotechnology have been leading the funding and innovation in deep science tech in India as per the report.
Around 80% of the total deep-tech investments in the country since 2010 have been in AI and biotech firms.
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