Deep tech startups, seem to be popular among deep tech investors and are expected to continue making significant contributions in fields such as AI (artificial intelligence), ML (machine learning), IoT (Internet of Things), AR/VR, big data, language processing, vision and speech algorithms, robotics, and blockchain. Deep tech startups make up approximately 18% of all startups in India, including AI (artificial intelligence), ML (machine learning), IoT (Internet of Things), AR/VR (augmented reality/virtual reality), Blockchain, and others.
Between 2014 and 2019, approximately 1,600 deep tech startups were launched, with a CAGR (compound annual growth rate) of 40%. According to Venture Intelligence data, Indian deep tech venture capital investments totaled $1.4 billion across 130 deals in 2021. Agnikul, CropIn, Bugworks, KBCols Sciences, WeInnovate, Sea6 Energy, Axio, Niramai, Aether Biomedicals, String Bio, and DreamVu are some examples of impact-creating deep tech companies.
We present a list of five promising deep tech startups that have recently received funding and investor interest. These Deep Tech Founders have been walking and leveling up with the best and newest tech that is expected to boom in the next five years.
Instoried
Instoried, a web platform with offices in California and Bengaluru, recently signed an agreement with GEM Global Yield, an alternative investment group with offices in Paris, New York, and the Bahamas. GEM will provide a Share Subscription Facility of up to $200 million, to be drawn at the company’s discretion for a 36-month term following a public listing.
With the funding, Instoried also intends to further develop its AI-based content generation tool, expand operations globally, and expand its executive team. The company also intends to go public through a SPAC or a traditional IPO.
Instoried is a tech-based content startup founded in 2019 by Sharmin Ali that uses AI to help people write better, original, and more lively content, make messaging crisper, improve headline impact, improve empathy and tone, and ultimately create a better connection with the target audience.
Deep Vision
Hyderabad and California-based deep tech startup Deep vision. To date, the company has raised approximately $54 million in funding.
Deep Vision stated that the funds will be used to expand the capabilities of its AI processor and software tools, as well as for product development, scaling up hardware manufacturing, and supporting its rapidly growing customer base.
Deep Vision, founded in 2014 by Ravi Annavajjhala, Rehan Hameed, and Wajahat Qadeer, creates processors for AI edge applications. The company focuses on camera-based industries such as retail, driver-monitoring systems and electric vehicles, smart city installations, drones, and factory automation.
The edge computing platform includes an AI processor and a comprehensive software development suite. Its processor also supports natural language processing (NLP) for an expanding market of voice-controlled applications.
AgNext
AgNext Technologies, a Chandigarh-based agritech startup,
Taranjeet Singh Bhamra founded AgNext in 2016 to solve the quality analysis problem with proprietary, in-house technology products. Through its full-stack ‘Qualix’ platform, it provides rapid food quality assessment using a combination of AI, ML, IoT, and advanced data analysis.
The startup claims to have physical and chemical analysis solutions that can be applied to a wide range of commodities, including grains, spices, tea, milk, and animal feed. Its clients include ITC, Godrej, NAFED, Verka, and others.
The deep tech startup stated that it intends to use the funds raised to enter new commodities and international markets such as the Middle East, Europe, and South Asia.
The funds will also be used to further develop its technology platform Qualix, which will enable quality-driven trade transactions across food value chains. It also intends to open a new office in Abu Dhabi. It has currently raised more than $25 million in funding.
SPYNE
Spyne, founded in 2018 by Sanjay Kumar and Deepti Prasad, uses artificial intelligence to help businesses and marketplaces create high-quality product images and videos at scale.
The AI tech startup claims to be developing 100% automatically, industry-first AI image processing products to assist large ecommerce marketplaces in the automotive, fashion, and retail industries in increasing the visual value of images without the need for a physical studio. Its products help businesses create 500x faster studio-finish images and scale operations in real-time.
According to the startup, it currently serves more than 80 customers across 15 countries, including Amazon India, Flipkart, Karvi, OLACars, SellAnyCar, Udaan, and others. Spyne AI Cars, the startup’s self-serve AI technology for the automotive industry, was also recently launched, and the model will be replicated for the ecommerce and food industries in the coming months.
Spyne plans to introduce new products and categories such as food, ecommerce, fashion, and real estate with a dedicated team of 100 employees.
The startup stated that it will use the new funds to acquire talent, expand globally, including into the US market, and establish a cutting-edge computer vision lab for deeper R&D in space. It also plans to broaden its technological horizons by developing products for the Metaverse and Omniverse.
ASTROME
Astrome, which was founded in 2015 by Dr. Neha Satak and Dr. Prasad H L Bhat, provides Gigabit speed telecommunication solutions to telecom service providers, enterprises, and defense. Through its patented telecom radios and satellite communication products, it also hopes to accelerate the deployment of 5G in suburban areas and broadband in rural areas.
The company’s goal is to establish E-band as a viable alternative to fibre. Its GigaMesh multi-beam E-band product is a radio that wirelessly connects cell towers or base stations to the core network. The product is currently in three verticals: rural last-mile, urban telecom, and defence communications.
The startup had signed a contract with the Indian Defense Forces to deploy GigaMesh to meet the country’s strategic communication needs. It also signed its first overseas contract with a South-East Asian telecom operator in 2021.
The startup also claimed to be the first in the world to be chosen by EvoNexus, a Qualcomm and Verizon-sponsored 5G accelerator programme in San Diego, California.
Astrome is currently working on GigaMesh-Next, an E-band radio capable of 50 Gbps per device. ideal for next-generation 5G network deployment
In addition, it plans to launch its Flat Panel Satellite (FPS) terminal, GigaSat, in the coming years. It will aid in meeting the demand for low-cost user terminals from LEO satellite internet providers.
In September 2021, Astrome Bengaluru and California-based Deeptech startup Astrome raised $3.4 million in a bridge round led by IAN Fund, Urania Ventures (Germany), and Lakshmi Narayanan, Founder of Cognizant.
Impact Collective (South Korea), ArtPark (India), and a group of US-based angel investors also participated in the round. Previously, the startup had received funding from a group of angel investors as well as the Indian Institute of Science, Bengaluru.
Jumper.ai
Nyha Shree co-founded Jumper.ai, an AI-enabled software that assists businesses in connecting with consumers on social media platforms to purchase their products. Customer expectations continue to rise as mobile, social, and cloud technologies proliferate. They expect seamless and hyper-personalized experiences now more than ever.
Customer experience is the new battlefield for many businesses, providing a competitive advantage that attracts and retains loyal customers. It converts social media pots into shoppable posts, so when customers comment on your post with questions, Jumper will automatically answer them and talk to the customers on the company’s behalf, as well as walk them through the sale right within the platform, saving them from having to go to another website.
Using hashtags and artificial intelligence, the startup hopes to simplify social commerce. The information given at the time of payment is secured and tokenized (encrypted by companies like VISA) with the payment gateways. Any company or startup that regularly uses social media as its primary acquisition channel can benefit from the platform.
Photom Technologies
Himmant Singh founded Photom Technologies, which was incorporated in 2018. Photom Technologies offers solutions for the operation and maintenance of renewable energy plants, allowing them to run more efficiently. Photom’s goal is to create innovative products and solutions for renewable energy plants.
Their goal is to be a key stakeholder in the development of India’s renewable energy sector. Photom robots provide a completely dry system for cleaning solar panels without the use of chemicals or water, allowing you to save money. It measures between two and four metres in length.
They are now planning pilots in Gujarat and hope to go commercial soon. iCreate has already provided equity seed funding to the startup.Himmant Singh, the founder, was one of fifteen Indian entrepreneurs invited by the UK government’s Royal Academy of Engineers for the Leaders in Innovation Fellowship.
Conclusion
The world is constantly changing, and thanks to technological advancements, it has become nothing short of a sci-fi film. Deep tech startups are also playing an important role in the startup ecosystem. Some of these startups are already quite popular in India, and they are doing their best to provide innovative products and services to people while also solving their problems.
