Deep Technology Venture Capital Fund · India

ConvictionCapital forIndia's Frontier.

We back founders leveraging proprietary science and IP to build the technology companies of tomorrow — for global markets, with sovereign significance.

20+Portfolio Co's
6Sectors
₹400CrTarget Fund
Our Conviction

We back the next generation
of Indian founders.

With the goal of strengthening India's sovereign and global economic positioning through institution-grade company building — proprietary, defensible technology at the core of every investment.

Real moats are built in laboratories, not in pitch decks. Science is the strategy.
01
Strengthen National Capability

Companies built for sovereign significance — reducing India's strategic dependence on foreign technology in critical sectors.

02
Build Durable IP

Moats built through intellectual property and real-world technical performance — not distribution or network effects alone.

03
Compete Globally

Institutional discipline from Day 1, building companies that compete on the world stage from their first year.

04
Long-Horizon Patience

Decade-long conviction cycles — we stay the course through every stage because real deep technology takes time.

Fund Overview

Induckt Vision Fund I — Deeptech Fund

Target Fund Size
₹400 Cr
~$48M USD · Active deployment in FY2025–28
Stage Focus
Seed → Series A
Pre-seed to Series A · 50% reserved for follow-on
Cheque Size
₹8–12 Cr
First cheque range · Follow-on up to ₹25 Cr
Geography
India + Global
India-origin IP · Globally scalable businesses
ESG · Impact Driven
All investments are evaluated through an ESG lens — environmental sustainability, social impact, and governance standards are integral to our investment thesis, not afterthoughts. We partner with founders building technology that creates lasting positive impact on India's climate, health, and strategic sovereignty.
Where We Invest

Six sectors.
One thesis.

Proprietary technology wins. We invest only where science is the unfair advantage — where the founders understand the physics, not just the market.

01
Aerospace & Space Systems

Launch vehicles, orbital manufacturing, satellite constellations, and hypersonic systems enabling the in-space economy from India.

02
Fabless Semiconductors & Photonics

Custom silicon design, MEMS, photonic integrated circuits, and novel chip architectures for AI and edge applications.

03
Synthetic Biology & Genomics

Cell and gene therapy platforms, precision oncology, engineered organisms, and programmable biology at industrial scale.

04
Robotics & Autonomous Systems

Dexterous manipulation, industrial automation, swarm robotics, and AI-driven autonomous systems for physical environments.

05
Quantum & Advanced Computing

Quantum processors, photonic computing, neuromorphic architectures, and post-silicon compute for intractable problems.

06
Energy & Climate Infrastructure

Grid-scale storage, green hydrogen, next-generation nuclear, and direct air capture for India's energy transition.

Our Bets

Portfolio Companies.

View Full Portfolio →
How We Work

Our Approach.

We don't invest in pitches. We invest in science — and in the rare founders who understand it well enough to build with it.

Three stages. One commitment: to stay the course through every phase of a company's life.

01 · Discovery
Find the Rare Ones

We find founders through our network of national labs, IITs, DRDO alumni, and research institutions before anyone else does.

02 · Diligence
Validate the Science

Our technical team — PhDs and domain operators — validates IP position, technology readiness, and scientific claims with first-principles rigor.

03 · Partnership
Build Together

We operate as co-founders — opening doors, connecting to government programs, recruiting leadership, and providing follow-on capital at every stage.

The People

Scientists & Operators.

Our team combines deep scientific expertise with hands-on company-building experience.

Ayush Goyal
Ayush Goyal
Founder & Managing General Partner
"
We don't just deploy capital — we back visionary founders building category-defining companies at the frontier of innovation. The next generation of global technology leaders will emerge from India.
Ayush Goyal
Founder & Managing GP · Induckt Ventures
LinkedIn ProfileExplore the Full Team
Thinking Out Loud

Blogs & Insights.

Perspectives from our team on deep tech, India's scientific potential, and frontier investing.

Why India's Space Economy Will Be Larger Than Anyone Expects
Insights · Aerospace
Why India's Space Economy Will Be Larger Than Anyone Expects

The liberalization of India's space sector has unlocked a wave of private capital and scientific ambition.

Arjun Kapoor · May 2025
Precision Oncology at Scale: India's Genomics Revolution
Deep Dive · Biotech
Precision Oncology at Scale: India's Genomics Revolution

India processes one of the world's largest datasets of treatment outcomes. The moat is scientific, not commercial.

Shreya Nair · April 2025
Fabless by Design: The Case for Indian Custom Silicon
Perspectives · Semiconductors
Fabless by Design: The Case for Indian Custom Silicon

India's engineering talent, combined with new industrial policy, creates a rare window for silicon champions.

Rahul Verma · March 2025
Dual-Use Technology: India's Strategic Advantage in the Next Decade
Analysis · Defence
Dual-Use Technology: India's Strategic Advantage in the Next Decade

The convergence of civilian R&D and defence requirements is creating a new class of category-defining companies.

INDUCKT Team · Feb 2025
The Deep Tech National Mission: Ambition Meets Capital
Opinion · Policy
The Deep Tech National Mission: Ambition Meets Capital

India's new National Deep Tech Mission signals a structural shift in how the state views science-based startups.

Arjun Kapoor · Jan 2025
Sovereign AI: Why Foundation Models Need Local Infrastructure
Research · AI
Sovereign AI: Why Foundation Models Need Local Infrastructure

Data sovereignty, latency, and national security concerns are reshaping how AI systems will be deployed at scale.

Shreya Nair · Dec 2024
Why India's Space Economy Will Be Larger Than Anyone Expects
Insights · Aerospace
Why India's Space Economy Will Be Larger Than Anyone Expects

The liberalization of India's space sector has unlocked a wave of private capital and scientific ambition.

Arjun Kapoor · May 2025
Precision Oncology at Scale: India's Genomics Revolution
Deep Dive · Biotech
Precision Oncology at Scale: India's Genomics Revolution

India processes one of the world's largest datasets of treatment outcomes. The moat is scientific, not commercial.

Shreya Nair · April 2025
Fabless by Design: The Case for Indian Custom Silicon
Perspectives · Semiconductors
Fabless by Design: The Case for Indian Custom Silicon

India's engineering talent, combined with new industrial policy, creates a rare window for silicon champions.

Rahul Verma · March 2025
Dual-Use Technology: India's Strategic Advantage in the Next Decade
Analysis · Defence
Dual-Use Technology: India's Strategic Advantage in the Next Decade

The convergence of civilian R&D and defence requirements is creating a new class of category-defining companies.

INDUCKT Team · Feb 2025
The Deep Tech National Mission: Ambition Meets Capital
Opinion · Policy
The Deep Tech National Mission: Ambition Meets Capital

India's new National Deep Tech Mission signals a structural shift in how the state views science-based startups.

Arjun Kapoor · Jan 2025
Sovereign AI: Why Foundation Models Need Local Infrastructure
Research · AI
Sovereign AI: Why Foundation Models Need Local Infrastructure

Data sovereignty, latency, and national security concerns are reshaping how AI systems will be deployed at scale.

Shreya Nair · Dec 2024
INDUCKT
Ready to Build?

If you're solving
problems —
talk to us.

We don't need a polished deck. Tell us the problem, the science behind it, and why you're the only team that can do it.

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