Riceberg Ventures Launches $20 Million Fund to Support DeepTech Startups The fund plans to invest in 25-30 startups globally, with an average ticket size of USD 0.5 million per investment
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Global early-stage venture capital firm, Riceberg Ventures, has launched a USD 20 million fund aimed at fostering innovation in DeepTech sectors, including SpaceTech, artificial intelligence (AI), cybersecurity, novel energy, Semiconductors, and Quantum Computing. The fund, backed by a consortium of Limited Partners (LPs), is set to address the funding gap for early-stage startups operating in these high-growth industries.
The fund plans to invest in 25-30 startups globally, with an average ticket size of USD 0.5 million per investment. Alongside funding, Riceberg Ventures will provide hands-on support to startups in achieving product-market fit (PMF) through its extensive global network of business and technical leaders.
"DeepTech has always been at the forefront of industry-defining innovations. While it's a buzzword today, we began our journey before it gained mainstream recognition…"True venture success comes from investing in disruptive solutions that create entirely new markets or redefine existing ones. This fund is our commitment to supporting DeepTech entrepreneurs tackling complex global challenges,"said Ankit Anand, Founding Partner of Riceberg Ventures and a physicist-turned-entrepreneur.
Founded in 2023 by Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola, Riceberg Ventures has already invested in several startups, including Manastu Space, Signatur Biosciences, and Keyron Medical.
India's growing DeepTech ecosystem has seen government support through initiatives like the INR 10,000 crore Startup Fund of Funds and the INR 50,000 crore National Research Foundation.
Despite these efforts, DeepTech startups often face challenges due to their long incubation periods.
"Indian entrepreneurs have contributed significantly to global innovations, yet systemic challenges have often kept them in the background. Our goal is to empower Indian founders to lead on the global stage by providing them the resources and networks they need," said Lino Gandola, Founding Partner at Riceberg Ventures.
Riceberg Ventures also operates KickSky, a SpaceTech accelerator, in collaboration with E2MC Ventures. KickSky recently launched its second cohort, which includes startups focusing on innovations in orbital systems and advanced propulsion technologies. The program is further strengthened by partnerships with global stakeholders, including a Memorandum of Understanding (MoU) with the Hungarian government to promote international collaboration.
One of Riceberg Ventures' portfolio companies, Manastu Space, recently made headlines by successfully testing its green propulsion system, VYOM 2U, onboard ISRO's PSLV POEM-4 mission. "Riceberg Ventures has provided us with more than just funding—they've been instrumental in connecting us with global customers and investors, helping us accelerate our R&D efforts," said Tushar Jadhav, Co-Founder of Manastu Space.
With operations in Europe, the US, and India, Riceberg Ventures aims to catalyze DeepTech innovation by leveraging its global network of scientists, entrepreneurs, and venture capitalists.
