Riceberg Ventures, a global early-stage venture capital firm, announced the launch of a $20 million fund to support deeptech startups. The fund will target space tech, artificial intelligence (AI), health tech, cybersecurity, and novel energy sectors. With this new fund, the firm plans to invest in 25-30 Indian startups, offering an average ticket size of $500,000 per investment.
Established in 2023 by Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola, Riceberg Ventures has already backed startups like Manastu Space, Signatur Biosciences, EtherealX, Keyron Medical, and Arch0.
“We invest in deep tech startups developing foundational technologies that require extensive R&D to solve complex global challenges. Our focus is on supporting 30-40 startups, with a strong emphasis on founders building breakthrough technologies,” Ankit Anand, Founding Partner, Riceberg Ventures, said.
“Spacetech is going through the right triggers for innovation. The cost of space launches has reduced significantly, and Indian Space Policy 2023 delineates roles for entities like ISRO and NSIL, fostering a conducive environment for private enterprises, with a Rs 1,000 crore capital commitment from the government. We have observed seasoned entrepreneurs from ISRO, and institutes like IIST / IITs bring the right combination of hunger and experience, giving us a significant talent advantage as well,” he said.
The company said it has reserved capital for follow-up rounds from the new fund. “Additionally, our presence globally in Europe and SF not just helps with infrastructure access but also strategic growth capital from US and European growth funds, which the startups will have access to. We’ve co-invested in one of the largest VC funds globally,” said Mredul Sarda, founding partner of Riceberg Ventures.
With its $20 million fund, Riceberg Ventures will significantly impact the deeptech ecosystem, empowering innovative startups in high-growth sectors such as space tech, AI, and health tech. By focusing on early-stage investments and nurturing 25-30 promising Indian startups, the firm aims to drive technological advancements and create meaningful solutions for global challenges.
