Riceberg Ventures Unveils $20 Million Fund to Propel Deeptech Startups
Aiming to Shape the Future of Innovative Technologies Globally
Early-stage venture capital firm Riceberg Ventures announced on Tuesday the launch of a $20 million fund specifically designed to support deeptech startups, including those specializing in spacetech.
Investment Strategy and Target
The fund aims to invest in approximately 25-30 startups worldwide, with an average cheque size of around $0.5 million. This strategy is part of a broader vision to cultivate the next generation of groundbreaking technological solutions.
Focus Sectors
Riceberg Ventures will target a diverse range of sectors, including:
- Spacetech
- Medtech and Life Sciences
- Cybersecurity
- Artificial Intelligence (AI)
- Robotics
- Novel Energy
- Semiconductors
- Quantum Computing
The Driving Force Behind Riceberg Ventures
Lino Gandola, the founding partner of Riceberg Ventures, emphasized the major contributions of the Indian diaspora to significant innovations, citing firms like Google and OpenAI. However, he noted that many Indian founders have faced various systemic challenges that hinder their ability to access early-stage capital.
Founders and Initial Investments
Riceberg Ventures was founded in 2023 by a team comprising Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola. Notably, the firm has already invested in promising startups like Manastu Space and EtherealX in the spacetech domain, along with Arch0, a cloud security startup.
Strategic Advantages and Global Network
Riceberg Ventures distinguishes itself by leveraging its extensive network of scientists and industry experts to assist startups throughout their journey, from ideation to commercialization. With operations in both the US and Europe, the firm provides portfolio companies with access to a vast global network of venture capitalists, promoting co-investment opportunities and facilitating follow-on funding.
Addressing Funding Challenges
The firm highlighted a pressing need to support deeptech startups, which frequently struggle to secure funding due to prolonged R&D timelines and lengthy incubation periods. Despite these challenges, deeptech startups hold immense potential for delivering advanced technology solutions.
A Mission to Empower Innovators
“Our mission is to empower Indian researchers and entrepreneurs to take center stage, providing them with the resources needed to build the next Google or SpaceX,” said Mredul Sarda, another founding partner of Riceberg Ventures.
Recent Trends in Deeptech Funding
In recent months, there has been a noticeable surge in deeptech-focused funds raising capital. For instance, on December 11, the venture capital firm GrowX Ventures launched its Fund-II, aiming to raise Rs 400 crore, with prior investments in notable startups like Pixxel, Bellatrix Aerospace, CynLr, and Stashfin.
Continuing Support for Entrepreneurs
Additionally, early-stage venture capital firm 8X Ventures announced the first close of its second deeptech fund, achieving Rs 200 crore last June.
Conclusion
Riceberg Ventures’ initiative not only demonstrates a commitment to fostering innovation but also aims to transform the landscape of funding for deeptech and spacetech startups. With a robust support system in place and an eye on the future, Riceberg Ventures is positioned to play a pivotal role in this exciting sector.
Q&A
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What is the total amount of the fund launched by Riceberg Ventures?
Riceberg Ventures has launched a $20 million fund to support deeptech startups. -
How many startups does the fund aim to invest in?
The fund plans to invest in approximately 25-30 startups globally. -
What sectors will Riceberg Ventures focus on?
The focus sectors include spacetech, medtech/lifesciences, cybersecurity, artificial intelligence, robotics, novel energy, semiconductors, and quantum computing. -
Who are the founders of Riceberg Ventures?
Riceberg Ventures was founded by Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola. -
What is the mission of Riceberg Ventures?
The mission of Riceberg Ventures is to empower Indian researchers and entrepreneurs to seize opportunities and build pioneering technologies.
