INDIAN DEEPTECH STARTUPS
Gaurav Munjal steps down as Unacademy CEO, Akhilendra Kumar takes over
The transition comes earlier than expected per the contours of the September transaction, which had envisaged Munjal continuing as CEO of Unacademy's businesses within UpGrad for at least two years. Munjal said on Wednesday that he would continue to be involved in daily operations and work with Kumar on profitability and UpGrad's proposed initial public offering (IPO).
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
Chip startup Agrani Labs looks to raise $108 million from Peak XV, Google, Samsung
Peak XV Partners is leading the round and is expected to contribute more than half of the total funding. Google, HCL Tech, Samsung Ventures and Stargazer, an investment firm set up by Groww's founders, are also expected to participate, the people cited above said.
Pixxel's Indian ownership comes under scrutiny
Pixxel founder and chief executive Awais Ahmed in a blog post on X said the company remains “headquartered, owned, managed and controlled in India,” on Monday. Indian investors, including the founders, collectively hold the largest shareholding in the company, followed by investors from Singapore, the UK and the US, he added.
Tax-wise, $-foolish: Saving Dalal Street could come at a cost to Startup Street
India's financial landscape is experiencing pressure with foreign portfolio investors becoming net sellers in the market. There are discussions about implementing tax cuts to stabilize the situation, which could disadvantage domestic investors. A focus on only listed shares may divert investments from private markets and harm the startup ecosystem. Expert suggestions advocate for a universal tax reduction applicable to both listed and unlisted shares.
UP looks beyond Lucknow to boost startups, MSMEs as Aavishkaar, Intellecap partner with Invest UP
With more than 11.5 million MSMEs across the state, Uttar Pradesh is looking beyond its established startup centres to build a wider enterprise ecosystem. A new Invest UP partnership with Aavishkaar Foundation and Intellecap aims to take capital, advisory support and market connections closer to entrepreneurs across its districts.
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India's deeptech dream remains import dependent for critical components
The founder of a spacetech startup developing rockets said geopolitical tensions, including the Russia-Ukraine war, disrupted the supply of critical components. “Parts that were earlier available within weeks are now taking months to arrive, making it harder for startups to plan development and testing schedules,” the founder said, requesting anonymity.
Ather rides to profit; Pronto's US AI play
Ather Energy swung to profit in the July-September quarter. This and more in today’s ETtech Top 5.
Pronto founder Anjali Sardana sets up US-based physical AI venture Provision Labs
Anjali Sardana has launched Provision Labs, an innovative startup dedicated to collecting essential data for artificial intelligence systems. With a vision to source training data from professionals across various sectors globally, Provision Labs seeks to enhance AI developers' capabilities in effectively implementing their models. This venture emerges shortly after the introduction of Pronto's Verified service, which documents household tasks for AI training, addressing the surging need for practical AI solutions.
Tech reporter’s remarks on Indian VCs set off debate on India’s deeptech startup scene
The discourse surrounding Ashlee Vance's comments on Indian VC risk aversion has generated a flurry of insights online. Vance suggested that Indian venture capitalists often overlook startups with immense potential, such as Ather, valued at nearly $7 billion. Anu Hariharan’s analysis pointed to operational issues deterring investors from engaging in India's startup scene.
Unacademy founders plan AI fund; Flipkart’s premium push
Happy Monday! Unacademy’s founders are raising a fund focused on AI and deeptech. This and more in today’s ETtech Morning Dispatch.
Exclusive: Unacademy founders Gaurav Munjal, Roman Saini plan Rs 700 crore AI, deeptech fund
The fund, named Longshot Capital, has secured commitments of about Rs 300 crore and is targeting its first close in January 2027, following which it plans to begin investing, the people said. Fundraising discussions are continuing, and the size and timing of the first close could change.
Blume, Kalaari, Chiratae among 19 VCs in RDI fund's Rs 7,131 crore first cohort
The selected cohort comprises 14 alternative investment funds (AIFs) and five focused research organisations (FROs), which will channel long-term capital into deeptech startups and private sector research and development.
Nilekani-backed Fundamentum's F2A raises Rs 3,000 crore for AI, deeptech fund
Fundamentum launched F2A in May 2026 as a dedicated frontier-tech investment platform and is led by Ashish Kumar, who moved from Fundamentum to head the new venture, alongside general partners Debraj Banerjee and Vivek Singla.
The ET Startup Awards 2026 special
Happy Monday! The Economic Times Startup Awards (ETSA) 2026 ceremony brought together the country’s top founders, investors, and policymakers in Bengaluru for a Friday evening of sharp insights and spirited conversations.
ET Startup Awards 2026: Deeptech wants government to step up as the first customer
At the discussion, titled ‘Building the Hard Stuff in India’, moderated by Accel partner Prashanth Prakash, founders from the space, semiconductor and healthtech sectors discussed the challenges of building capital-intensive technologies, developing domestic capabilities and taking complex products to market.
ETSA champions show the great Indian dream is all home-brewed and visa-free: Union Minister Piyush Goyal
In a candid conversation with ET’s Deepshikha Sikarwar, he spoke about India’s trade deals, India-US relations, foreign investment, and how Indian businesses will benefit from the restrictions on the green card programme.
ETSA 2026: Over a decade on, India's startup story is only getting started
The 12th edition of The Economic Times Startup Awards (ETSA) captured this transition, reflecting an ecosystem that has moved beyond the race for scale to pursue technological depth, durable businesses and international markets.
The ET Startup Awards 2026 special
Entrepreneurs, investors and policymakers came together in a star-studded event to honour the best of Indian entrepreneurship at the ET Startup Awards 2026 in Bengaluru.
ETSA 2026: Indian deeptech firms need government as first customer to compete globally, says Agrani Labs CEO
Dheemanth Nagaraj said products built in India must meet global standards, as customers in the country have little appetite for substandard alternatives simply because they are cheaper.
ETSA 2026: India’s strong medical, STEM talent can drive deeptech startups: BrainSight AI cofounder
Laina Emmanuel, cofounder of BrainSight AI, remarked that India needs to create more opportunities for scientists, engineers, and doctors to work together and build deeptech companies.
IVCA joins Headstart as co-host of Bharat Pitchathon 2026; launches national DeepTech founder intelligence initiative
IVCA has announced a collaboration with Headstart Network Foundation to enhance India's DeepTech entrepreneurship ecosystem. This partnership includes hosting Bharat Pitchathon 2026 and launching the IVCA Bharat DeepTech Startups: National Pulse initiative. The National Pulse aims to gather insights from founders across various regions, capturing their experiences and challenges.
Karnataka, IVCA explore co-investment framework to accelerate DeepTech commercialisation
The Bharat DeepTech Roundtable took place in Bengaluru, organized by the Indian Venture and Alternate Capital Association. It brought together investors, policymakers, and industry leaders to discuss the commercialization of DeepTech.
Flipkart alumni seek Esop buyout; Local sourcing for ISM 2.0
Former Flipkart executives are seeking a full cash-out of vested Esops. This and more in today’s ETtech Top 5.
ElevenLabs CEO on AI slowdown; Prosus dials up fintech bets
Happy Wednesday! ElevenLabs CEO Mati Staniszewski weighs in on the AI slowdown debate. This and more in today’s ETtech Morning Dispatch.
Top tech players, policymakers come together on Deepverse platform to develop deeptech
The Startup Policy Forum has launched DeepVerse, a groundbreaking initiative designed to bolster India's deeptech sector. This platform connects startups, investors, academics, and policymakers, fostering collaboration across ten sub-sectors, including biotech, quantum technology, and electric vehicles. With backing from influential investors and tech leaders, DeepVerse aims to create a robust policy framework that supports deeptech innovation in India.
IMC 2026 to put DeepTech at centre of startup programme ASPIRE
India Mobile Congress 2026 will take place from October 7 to 10 at Yashobhoomi Convention Centre in New Delhi. The event will emphasise DeepTech and frontier technologies to support startups advancing from prototype to market. Over 500 startups and 300 venture capital firms are expected to participate, fostering connections through one-on-one meetings.
Former Elevation Capital partner Mayank Khanduja joins Silicon Valley VC Bessemer in India
Khanduja, who left Elevation Capital in January, will focus on early-stage investments at Bessemer, working with founders from their first institutional funding round, the firm said.
Vertex in funding talks with RapidCanvas, Supernova to sharpen AI focus: Sources
The investor is looking to sharpen its focus on AI after consumer investments in India, they said. Vertex is likely to invest around $20 million, along with existing investors, while a new investor may also come on board, the people added.
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