Deep tech (Deep technology) is characterised by cutting-edge scientific and engineering innovation, typically with high entry barriers and long development cycles, requiring a multi-disciplinary approach to complex problem solving. Traditionally, it has not been India’s forte.
Now, however, monumental change is underway. India’s deep tech sector is emerging as a key driver of economic growth, with space tech, drone, AI, semi-conductors and clean mobility, amongst others, poised to shape the country’s march towards $10 trillion future. The deep tech ecosystem that typically requires patient capital is witnessing steady inflow of venture funds to drive transformative value creation, with impact and reverberation beyond India. The world is taking notice of India’s colossal potential.
Unicorn India Ventures’ UIV Fund III, our third $150 million fund, is deeply vested in deep tech, having announced several promising investments. At dinner five weeks ago with OrbitAID, a pioneering space tech start-up funded by UIV Fund III earlier this year, I was struck by the ease with which the founders straddled the global stage with international peer recognition and respect. OrbitAID, founded in 2021, is developing proprietary technology ‘SIDRP’ (Standard Interface Docking and Refuelling) that will extend satellite life by allowing refuelling in space through tanker satellites and the building of orbital fuel stations in space. The founders had stopped in New York to meet with us, while travelling back to India after successfully completing the second zero gravity test in Kansas days earlier, following the success of the first zero gravity test in Florida in December 2024. Both tests were first-time successful and completed on a modest budget – unimaginable internationally. Recognising OrbitAID’s potential, Starburst, a leading global Aerospace and Defence (A&D) start-up accelerator, has now selected OrbitAID within its portfolio.
There are numerous other stories, both from within our fund and others. EXSURE, another promising R&D-focussed biotech investment from UIV Fund III, is India’s First Patented Exosome-based Targeted Anti-Cancer Drug Delivery Platform, which can target both cancer and cancer-stem cells. EXSURE founders were actively wooed by Japan, hosted and incubated for a year at Okinawa Institute of Technology, despite the start-up being founded barely four years ago. Indian deep tech research has ignited global interest today.
Beyond global accelerators and incubators, prominent international investors are also taking note of India’s deep tech march. BonV Aero, a drone manufacturing start-up founded in 2021, has been backed both by UIV FUND III and venture capitalist Tim Draper, known for early investments in companies like Tesla, Skype, Twitter and SpaceX. Tim Draper has publicly supported BonV Aero at this early stage in its journey, highlighting the deep tech start-up's potential in the drone and logistics sectors. A prominent supplier of heavy lift unmanned aerial vehicles (UAVs) to the Indian Army, BonV Aero successfully set a new world record, by conducting a hover flight test with 30 kg payload, at an altitude of 19,024 ft in Umling La Pass Ladakh, considered the world’s highest motorable mountain pass. Following recent Sikkim landslide tragedy in which precious lives were lost and with continued danger posed by dangerous terrain and risk of further landslides, BonV drones with ground-penetrating radar (GPR) technology were deployed by the Indian Army in rescue and recovery efforts.
Launched in Washington DC in June 2023, INDUS-X (India-US Defence Acceleration Ecosystem) is a strategic initiative focussed on fostering defence innovation and technology co-operation between the US and India
Indian deep tech prowess has not been lost on the US, always on the lookout to appropriate the best emerging and ground-breaking technology for the US armed forces. Launched in Washington DC in June 2023, INDUS-X (India-US Defence Acceleration Ecosystem) is a strategic initiative focussed on fostering defence innovation and technology co-operation between the US and India. It aims to build a ‘defence innovation bridge’ between the two countries, facilitating collaboration among defence companies, start-ups, investors and academic institutions, to produce critical capabilities for the militaries of both countries. Earlier this year, in February 2025, Prime Minister Modi and President Trump reinforced their commitment to the INDUS-X initiative and announced INDUS Innovation, a new bridge modelled after the successful INDUS-X platform, that will advance US-India industry and academic partnerships and foster investments in space, energy and other emerging technologies, to maintain US and India leadership in innovation beyond military to meet the needs of the 21st century.
Once upon a time, India was known for call centres and smart English-speaking software engineers. India and Innovation did not sit well together. But, there always comes a moment in time, when it all comes together. For Indian deep tech, that moment is now. The future is unstoppable.