A $20 million fund has been established by Riceberg Ventures, an early-stage venture capital firm, to assist deeptech startups, including those in the space industry.
Supported by a group of Limited Partners (LPs), the fund gives these startups early-stage funding in an effort to close the funding gap in this industry. Through its global network of deeptech business and technical leaders, it offers practical assistance in attaining product-market fit (PMF) in addition to follow-on fundraising for its portfolio companies.
Riceberg Ventures claims that the fund, which has an average check size of $0.5 million, is intended to invest in 25–30 startups worldwide. High-growth industries like space technology, medtech/life sciences, cybersecurity, artificial intelligence, robotics, new energy, semiconductors, and quantum computing will receive investments.
The early-stage venture capital firm Riceberg Ventures was co-founded in 2023 by Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola with the goal of assisting deeptech startups. The company, which has operations in Europe, the US, and India and a $20 million fund, specializes in developing industries. It seeks to support Indian deeptech startups by serving as a catalyst for the development of cutting-edge, technologically driven solutions.
According to Riceberg Ventures, it helps startups from conception to commercialization by utilizing its extensive network of top scientists and specialists. Its presence in the US and Europe also gives portfolio companies access to a global network of leading venture capitalists, which makes follow-on funding and co-investments easier.
Along with running India’s first spacetech accelerator, KickSky, Riceberg Ventures has partnered with E2MC Ventures. The second cohort of the program, which is scheduled to begin in January 2025, was just launched.
Startups including Manastu Space, Signatur Biosciences, EtherealX, Keyron Medical, and Arch0 are among those in which Riceberg Ventures has made investments to date. The VC firm has Prasad Chaganti and Uday Desai on board.
