Did you know that 14% of the total investments from funding agencies and VC firms in 2020 were in deep-tech ventures?
These statistics from NASSCOM’s annual startup report are up from 11% in 2019. Moreover, 87% of the 2020 investments in deep tech were in Artificial Intelligence (AI)/Machine Learning (ML) startups.
While the Covid-19 pandemic accelerated digitization worldwide, the adoption of disruptive and transformative novel technologies is also soaring, and deep tech startups are carrying the baton. However, these ventures typically have longer R&D cycles and entail massive investments and time to build commercial products and services.
“The challenge comes in early stages. As compared to commercial tech startups, which can create a product in three months and add tens of thousands of users within a couple of months, deep tech startups need at least two to three years to build and perfect their products,” says Ranjan Kumar, CEO, and Founder, Entropik Tech, while talking about funding in the deep tech space.
Bengaluru-based Entropik Tech, a leader in the Emotion AI domain, which delivers widespread real-world applications for capturing consumer emotions at scale, has raised around 9.5 Million USD since inception with lead investors being Bharat Innovation Fund and Alpha Wave Incubation (managed by Falcon Edge), along with couple of other angel investors.
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KrASIA, a digital media company, covers technology-driven trends and businesses in emerging markets worldwide.