New Delhi: Global venture capital firm Riceberg Ventures has launched a $20 million fund to support early-stage startups in deeptech sectors, including artificial intelligence (AI), spacetech, cybersecurity, semiconductors, novel energy, and quantum computing. The fund aims to address the funding challenges faced by startups in research-heavy industries with long development cycles.
Investment Strategy
The fund, backed by a consortium of Limited Partners, plans to invest in 25 to 30 startups globally, with an average funding size of $500,000 per startup. In addition to financial backing, Riceberg Ventures will provide hands-on support to help these startups achieve product-market fit through its network of technical and business experts.
Supporting Emerging Deeptech Innovations
Founded in 2023 by Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola, Riceberg Ventures focuses on nurturing startups creating new markets or reinventing existing ones. The firm has already invested in startups such as Manastu Space, Signatur Biosciences, EtherealX, and Keyron Medical.
Ankit Anand, co-founder of the firm, highlighted the role of deeptech in solving global challenges. “The goal is to back solutions that redefine industries or create new ones,” he said.
International Reach and SpaceTech Collaboration
Riceberg Ventures operates in India, Europe, and the U.S., connecting startups with a global community of scientists, venture capitalists, and corporate partners. One of its notable initiatives is KickSky, a SpaceTech accelerator launched in collaboration with E2MC Ventures. KickSky’s second cohort recently began, featuring startups working on advanced propulsion systems and orbital technologies.
The firm has also partnered with the Hungarian government through a memorandum of understanding (MoU) to promote cross-border innovation.
