Deep Tech startups — businesses fueled by AI, the Internet of Things, and machine learning (ML) — witnessed record funding in 2018. Robotics startup GreyOrange raised $140 million spearheaded by Mithril Capital, and investors think the growing interest in niche technology is being driven by a growing talent pool.
Sanjay Nath, managing partner, Blume Venture, which is invested in GreyOrange, said: “A surge in deep-tech talent in data science, AI and ML, is driving higher interest in deep tech startups.”
Healthcare, for example, has the potential for disrupt deep-tech, with models of predictability and a broad reach that can make up for India’s poor doctor-patient ratio. Deep-tech startups are scaling up faster and facing fewer challenges in monetizing business models.
However, deal volumes fell for the third straight year in 2016 from 63 and 58 in 2017 to 39 in 2018, indicating larger ticket sizes for fewer successful startups.
Read the original article here to find out what else could happen in India’s VC space this year.
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