IDTA looking to invest $10-$15 million in every startup across sectors

Kumar, former India head of KPMG, said Celesta will bet on start-ups in the space and biotech sectors while also looking out for AI companies that work with global capability centres (GCCs) in India

India Deep Tech Alliance (IDTA), a consortium of venture capital funds and big corporations such as Nvidia and Qualcomm, is looking to invest about $10-$15 million in every startup across space, semiconductor, artificial intelligence and defence sectors, two executives of member VC funds said.

 

IDTA was unveiled at Semicon India earlier this year with an initial capital commitment of $1 billion from global and Indian investors. Some of the founding members include Celesta Capital, Accel, Premji Invest, Venture Catalysts, Bloom VC, Gaja Capital, Ideaspring and Tenacity Ventures.

 

“Most of the funding will be in seed or Series A and Series