New Delhi, Aug 22 : India is witnessing an explosion in deep-tech companies in specializations like quantum computing, cybersecurity, semiconductors and AI and semiconductors, and it is host to over 3,000 companies that have raised $2.7 billion in 2021, which is 1.6 times increase over the previous year -according to a new Nasscom report revealed on Monday.The country added more than 210 startups in deep tech in 2021 on its own and Bengaluru and Delhi-NCR lead these in the nation, as per the Nasscom-Zinnov study.
“The Indian deeptech ecosystem has also boosted job creation with more than 4,000 people employed in 14 possible unicorns in deeptech and is expected to grow by 2x in headcount in 2026.” stated Debjani Ghosh the President of Nasscom.
The country is home to 500 innovative deeptech startups, which are creating a an army of workers in technologies like drones and 3D printing, robotics and AI -and with the possibility to create new intellectual properties that are backed by scientific advancements as well as fundamental research.
The deeptech industry has grown at an astonishing rate of 53 percent CAGR in the past 10 years, and is growing at a similar rate with the Indian tech startups.
70% to 75% of companies in the field of deep technology have at least 15 percent of their employees skilled in deep technology, as the report said.
“Strategic collaboration with the academia, government and investors from around the world and streamlined corporate collaboration as well as dedicated test-bed programs can have an enormous impact on India’s deeptech story” Ghosh said.Ghosh.
While in an early stage, when compared to US, Europe, Israel and China, the Indian deeptech industry is growing quickly.
The sector is witnessing more start-ups that are forming to tackle the global mega issues of clean technology zero hunger, smart cities, and climate action The report stated.
In 2021, the course of 2021, 270 different startups raised $2.7 billion in 319 agreements, with AI and big data and analytics being among the most prominent technologies that raised equity investments.
Seed stage companies have experienced an 2.3 times increase in equity investment in 2021 when compare to 2020, and have raised an amount of $186 million in funding in 2021.
Within the verticals such as supply chain management (SCM) and logistics were the most financed areas in 2021 with deeptech companies gaining funding for use cases such as drone delivery and autonomous delivery bots monitoring of the cold chain as well as fleet management, according to the report.
na/pgh
