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The fund will invest in 25-30 global startups with an average cheque size of $500K, focusing on deeptech sectors including spacetech and AI
Riceberg Ventures' portfolio includes companies such as Manastu Space, Signatur Biosciences, EtherealX, Keyron Medical, and Arch0
The VC firm operates KickSky, India's first dedicated spacetech accelerator, which is launching its second cohort in January 2025
Early stage venture capital firm Riceberg Ventures has launched a $20 Mn (around INR 173.4 Cr) fund to invest in deeptech startups.
The VC firm will back 25-30 startups, across the globe, with an average cheque size of $500K.
Riceberg focuses on deep technology startups in Europe, the US and India, investing in categories such as spacetech, medtech, cybersecurity, AI, robotics, novel energy, semiconductors and quantum computing.
The VC firm’s portfolio includes startups such as Manastu Space, Signatur Biosciences, EtherealX, Keyron Medical, and Arch0.
Founded in 2023 by Ankit Anand, Mredul Sarda, Shubham Raj and Lino Gandola, Riceberg Ventures aims to address the funding gap in the deeptech sector by providing early stage capital and hands-on support to startups.
“Deeptech has always been at the forefront of industry-defining innovations. While it’s a buzzword today, we began our journey before it gained mainstream recognition,” Anand, founding partner at Riceberg Ventures, told Inc42.
The development comes amid growing government support for India’s deeptech ecosystem. The Centre has launched initiatives including a startup fund of funds worth INR 10,000 Cr and the National Research Foundation worth INR 50,000 Cr.
In collaboration with E2MC Ventures, Riceberg operates KickSky, India’s first dedicated spacetech accelerator. The programme recently launched its second cohort, set to go live in January 2025.
This launch follows several fund announcements in recent months. In October 2024, fintech unicorn Zerodha launched FLOSS/fund to support open-source projects globally with annual funding of $1 Mn.
In September 2024, Capital A launched its Fund II with a target corpus of INR 400 Cr, focusing on manufacturing, deeptech, climate tech, and fintech sectors.
Earlier in May 2024, 360 ONE Asset launched a INR 4,000 Cr secondaries fund to invest in late stage startups.
