Oister Global just rolled out a ₹600 crore deeptech fund to boost Indian tech companies ready to scale up.
The fund is set to back eight to 10 firms working in areas like space tech, defense, semiconductors, and energy storage, basically, the cool stuff powering tomorrow.
It's all about helping companies that already have proven technologies, proprietary intellectual property, paying customers, and multiple revenue streams.
Fund to address deeptech funding gap
The main goal? To help these companies ramp up production and go big with their products. The fund runs for six years (with an option for two more).
As co-founder and co-CEO Sandeep Sinha puts it, deeptech startups face unique financial challenges compared to software companies.
Co-founder and co-CEO Rohit Bhayana also pointed out there's a real funding gap when it comes to turning great tech into real businesses, a gap this fund hopes to close.
Investor interest in Indian deeptech is on the rise, with nearly $3 billion invested across 189 deals last year, even if only a few make it all the way to late-stage funding.