India witnessed nearly 3,000 deep-tech startups in CY21

A report by the National Association of Software and Services Companies (NASSCOMM) has said that the Indian deep-tech startups operating in emerging technologies, including AI, IoT, blockchain, big data and analytics, grew at a compounded annual growth rate (CAGR) of 53 percent over the last 10 years.

As of CY21, there were around 3,000 such startups in the country, of which more than 210 were launched in CY21 itself. In terms of funding, more than 270 startups raised around $2.7 billion across 319 deals, with artificial intelligence and big data & analytics seeing the highest investments.

NASSCOM president Debjani Ghosh said, “The Indian deep-tech ecosystem today has truly come of age. These startups have not only defied the odds with extraordinary innovation and exceptional leadership but are also playing a vital role in creating solutions for sustainability goals – from smart manufacturing to reliable healthcare.”

The Indian deep-tech startups are also looking to solve deep-seated problems through clean technology, smart cities, climate actions and offering solutions to mitigate hunger, in line with the country’s sustainable development goals.

The report said, “Proactive measures and the right stakeholder inventions such as access to seed capital & thematic funds, market access & PoC led engagements, enhancing technology business incubators, academic collaborations, and world-class innovation clusters are needed to further address vulnerabilities, develop select skill sets, and drive innovation for India to emerge as a global leader in the deep-tech space.”