Mumbai-based Piper Serica raises 300 cr for Bharat Tech Fund
Mumbai-based venture capital firm Piper Serica has locked in ₹300 crore for its Bharat Tech Fund's first close, aiming to back Indian startups working in semiconductors, AI, robotics, defense, and biosciences.
Nearly half the money came from investors in the firm's earlier fund, a sign that people are excited about where this is headed.
Selected startups may get 20-50 cr
The fund hit this milestone in just 45 days and is likely to wrap up final fundraising ahead of schedule thanks to strong interest.
Each chosen startup could get between ₹20 crore and ₹50 crore, with a focus on research-heavy projects and strong intellectual property.
Piper Serica started investing in deeptech back in 2022 (think Alt Mobility and OTPless), and director Ajay Modi says India's talent pool and supportive policies make it a great time for tech innovation, especially as more deeptech startups see growing revenue and large customer orders.