India’s deeptech startup ecosystem is getting a fresh boost as Chiratae Ventures has announced a $10 million investment commitment for five startups selected under its Sonic DeepTech programme. The announcement was made during the firm’s Demo Day event held in Bengaluru on May 6.
Founded in 2006 by Sudhir Sethi and T.C. Meenakshisundaram, Chiratae Ventures is one of India’s largest homegrown venture capital firms. The company manages over $1.3 billion in assets and has invested in several successful startups like Flipkart, Lenskart, Policybazaar, and Cult.fit.
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Five Startups Selected in the Latest Batch
The new Sonic DeepTech cohort includes startups working in AI, cloud infrastructure, enterprise communication, and space technology. One of the selected startups is TakeMe2Space, which is building nanosatellite systems for edge AI computing and Earth observation. Another startup, CtrlB, is developing a cloud-native data lake platform designed to lower storage and analytics costs.
The batch also includes Interact AI, which creates audio-visual AI avatars for customer conversations. SuprSend has been selected for its platform that helps companies manage notifications and customer communication through a single API. The fifth startup is currently operating in stealth mode and is reportedly building an AI platform focused on underserved industries.
Sonic Programme Aims to Speed Up Startup Funding
Chiratae Ventures launched the Sonic programme to make fundraising easier and faster for early-stage founders. The programme promises an initial funding decision within 48 hours, helping startups avoid long waiting periods usually seen in venture capital funding. The initiative mainly supports startups working in sectors like AI, climate tech, robotics, defence, quantum technology, and advanced manufacturing.
Apart from funding, the selected startups will also get access to the NVIDIA Inception programme, which offers AI tools, technical support, training, and networking opportunities. At the same time, Chiratae Ventures is also expanding its investment plans through its fifth flagship fund, which recently reached a second close of $150 million.