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Good days for tech startups, funding rain

Highlights

  • New businesses based on deep science and technology are called deep tech startups.
  • The average deal size in deep tech startups increased to $11 million this year.
  • This sector has been marginalized in India but now investors are showing interest in it.

Chennai
The year 2021 has been great for tech startups. This year the deep tech startup has received more than double the investment as compared to last year. New businesses based on deep science and technology are called deep tech startups. As of December 15 this year, these startups have garnered $1.4 billion in investments through 133 deals. Last year, it had secured an investment of $556 million through 106 deals.

The average deal size in deep tech startups also increased to $11 million from $5 million last year. However, even now the share of deep tech startups in the total investment is only 4.5 per cent. It has remained around the 4 per cent figure since 2018. But it is expected to pick up pace in the coming years.

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Investors and industry experts believe that although investment in deep tech startups is low right now, it has shown a huge jump this year. Investors’ interest in investing in deep tech startups has increased amid increasing emphasis on digitization due to the pandemic. Pratip Majumdar, Partner, Inflexor Ventures said, “Deep tech as a sector is gaining momentum. This is happening all over the world.

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He said that this sector in India has been marginalized till now but now non-traditional investors are showing interest in it. These investors want to tap the immense potential of these technology-based startups. Large family offices are showing good interest in deep tech focused VC firms. These include investors from sectors like pharma, retail, automotive etc.

Manish Singhal, founder of early-stage deep tech fund P Ventures, said innovations in the deep tech sector do not require millions of dollars, as is the case with Consumer Tech Ventures. Agriculture, the agritech startup played a big role in keeping the agri supply chain active during the pandemic.

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