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About 18 percent of all startups in India are into deep tech such as AI (artificial intelligence), ML (machine learning), IoT (Internet of Things) AR/VR (augmented reality/virtual reality), Blockchain and so on, according to NASSCOM’s Indian tech startup ecosystem report 2019.
Around 1,600 deep tech startups were launched between 2014 and 2019, and are growing at a CAGR (compound annual growth rate) of 40 percent.
Overall, Indian deep tech venture capital investments reached $1.4 billion across over 130 deals in 2021, according to data from Venture Intelligence.
Some examples of impact-creating deep tech companies are Agnikul, CropIn, Bugworks, KBCols Sciences, WeInnovate, Sea6 Energy, Axio, Niramai, Aether Biomedicals, String Bio and DreamVu.
YourStory presents a list of five recently funded promising deep tech startups that have garnered investor interest.
Headquartered in California and Bengaluru, web platform Instoried signed an agreement recently with GEM Global Yield, an alternative investment group with offices in Paris, New York, and the Bahamas. Under the agreement, GEM will provide a Share Subscription Facility of up to $200 million to be drawn at the option of the company for a 36-month term following a public listing.
In October 2021, it also raised $8 million in Series A funding led by Pritt Investment Partners and 9 Unicorns, with participation from Mumbai Angels, SOSV, Venture Catalysts Angel Fund, and others.
The deeptech startup said it plans to use the capital to expand its global marketing efforts, primarily in the United States, and invest in its technology to add a Google Chrome extension, a WordPress plug-in, and other elements to its product portfolio.
Instoried also aims to further develop its AI-based content generation tool and expand operations globally and grow its executive team with the funding. The company also plans to go public via SPAC or Traditional IPO.
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