Venture capital firm Chiratae Ventures has started Sonic DeepTech, a quick funding program to help early-stage founders working on advanced technologies.
Through this program, the firm will invest up to $2 million in startups at the Seed to Series A stages. They will support companies working in areas like energy and climate, quantum technology, robotics, advanced manufacturing, space tech, AI and machine learning, defense, biotechnology, medical technology, and the digital economy.
“India’s next wave of category-defining companies will come from DeepTech startups that combine research rigour with product thinking,” said Saharsh Sharma, Vice President, Investments, Chiratae Ventures.
“Founders need capital that understands long timelines, and partners who open doors with customers and research collaborators. Chiratae Sonic DeepTech is built exactly for that to give ambitious teams faster conviction and the ecosystem they need to win.”
As part of this program, startups will also get access to a network of experts and industry partnerships to help bring their advanced technologies from the lab to the market more quickly.
Chiratae Ventures, which has supported deeptech startups such as Pixis, Miko, Pando.ai, and Agnikul, has invested over $200 million in more than 50 companies in the sector. Applications for the Sonic DeepTech program are now open.
Founded 19 years ago, Chiratae Ventures manages $1.3 billion across seven funds. The firm has invested in over 130 companies and achieved more than 50 successful exits.
These exits have returned around $1 billion to its limited partners over the past 14 years. Notable portfolio companies include FirstCry, Lenskart, Cult.Fit, and Flipkart.
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