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New fund · AI & Deep Tech

Celesta Capital plans ₹2,000 Cr India deeptech fund

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Date
Company
Celesta Capital
What it does
Deep tech venture capital firm
Kind
New fund
Amount
₹2,000 Cr
Based in
San Francisco
Sector
AI & Deep Tech

What they do

Celesta Capital is a San Francisco-based VC firm investing in deep tech startups globally

What happened

It plans to launch a ₹2,000 Cr SEBI-approved Category II AIF for early-stage Indian deeptech startups

Why it matters

The fund is part of the India Deep Tech Alliance, which aims to invest over $1 Bn in the sector

The details

  • Celesta Capital is planning to launch an India-focused deeptech fund with a target corpus of ₹2,000 Cr.
  • The fund is a Category II Alternative Investment Fund (AIF) approved by the Securities and Exchange Board of India (SEBI).
  • It will back early-stage deeptech startups, mostly at Series A and B stages.
  • The average ticket size will be $3 Mn to $7 Mn per investment.
  • Celesta Capital is a member of the India Deep Tech Alliance (IDTA), founded in September 2025.
  • IDTA aims to infuse over $1 Bn into Indian deeptech startups over the next decade.
  • Each IDTA member plans to invest in Indian deeptech over 5-10 years across sectors like semiconductors, spacetech, quantum computing, robotics, AI, biotech, medical devices, energy, and climate.

The bigger picture

  • India's deeptech sector has historically lagged in funding but is now seeing renewed investor interest.
  • The government has revised the startup definition to allow deeptech entities recognition and benefits up to 20 years.
  • The turnover threshold for deeptech startups was increased to ₹300 Cr from ₹200 Cr.
  • The last two Union Budgets announced initiatives to boost the deeptech sector, including the RDI scheme with a ₹1 Lakh Cr corpus.
  • Deeptech funding deals rose to 87 in 2025 from 76 in 2024.

About the business

  • Celesta Capital is a San Francisco-based venture capital firm.
  • It invests across the US, Israel, UK, India, and China.
  • The firm has made over 100 investments to date.
  • Its assets under management are $1.1 Bn.
  • India portfolio includes ideaForge, Agnikul, 5C Network, Brick&Bolt, and Pixis.

What happens next

  • Celesta Capital will launch the fund and begin investing in early-stage Indian deeptech startups.
  • The fund will focus on Series A and B rounds with tickets of $3 Mn to $7 Mn.
  • Investments will span semiconductors, spacetech, quantum computing, robotics, AI, biotech, medical devices, energy, and climate.

The deal

Type
fund

Investors

Founders

  • Sriram Viswanathan, Founding Managing Partner

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