Gulf investors renew interest in India's AI and space sectors
Gulf-based investors, including the non-resident Indian diaspora, are showing fresh excitement for India's artificial intelligence and space technology sectors, even as broader interest in Indian investments remains subdued thanks to a weaker rupee and a tilt toward dollar assets.
At a recent Dubai roadshow, data center company Yotta is expecting $30 million to $35 million worth of commitments from investors in the region.
Yotta raised $150 million for AI
Yotta's latest win follows its earlier $150 million raise for AI expansion, while Pixxel Space Technologies is also seeking funding in the United Arab Emirates as interest in Indian tech heats up.
Even with the rupee dropping 5.87% against the dollar this year, India still attracted $133 billion into special bank schemes by August, showing that targeted bets on tech are alive and well.