Foundational support and patience hold the key to seeing large deep science and engineering-based global companies emerge from India in the decades to come, the managing director of venture capital fund Peak XV says
Rajan Anandan, Managing Director, Peak XV
Image: Amit Verma
Rajan Anandan, managing director at venture capital (VC) firm Peak XV, also leads the VC firm’s Surge programme for early and seed investments in startups. In an interview with Forbes India, he pointed out that deeptech in India is where software startups were in 2010 to 2012. Edited excerpts:
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Q. Give us a sense of why you started thinking about deeptech startups in India.
Our primary focus remains identifying exceptional entrepreneurs targeting sizeable markets. Recently, we’ve witnessed a surge in deeptech startups, reflecting our investment strategy. If you leave aside AI (artificial intelligence), initially, ventures like Log9, in advanced battery tech, and Absolute, in biosciences, stood out. Following a brief hiatus, a new wave of compelling deeptech opportunities emerged about 18 to 24 months ago.
We’ve since invested in semiconductor innovations, battery recycling, green hydrogen and space technologies. Each venture features founders with profound domain expertise. These startups aren’t just ambitious; they’re driven by years of technical groundwork, setting them apart in their respective fields.
(This story appears in the 12 July, 2024 issue of Forbes India. To visit our Archives, click here.)