Fresh Fund Backs Future Technologies
New Delhi, September 6, 2026: Investment firm Piper Serica is preparing to deploy Rs 180-220 crore across four to six deep-tech startups during the current fiscal year, with a focus on sectors including space technology, semiconductors, advanced electronics, artificial intelligence, energy and life sciences.
The firm’s Bharat Tech Fund, a Category II Alternative Investment Fund targeting a corpus of Rs 600 crore with a Rs 200 crore greenshoe option, has already raised around Rs 400 crore. Piper Serica Director Ajay Modi said the fund has evaluated approximately 30-35 startups and expects to make some of its first commitments within the next month.
Investments are expected to range between Rs 25 crore and Rs 50 crore per company. The fund is targeting businesses that have already developed their core technology from laboratory or early-stage development to commercial scale and are now seeking growth capital.
Piper Serica believes India is entering a deep innovation cycle supported by government policies, domestic manufacturing, digital infrastructure, academic institutions and a growing pool of technology entrepreneurs.
Space technology is among the areas where the firm sees significant potential. India’s expanding private space ecosystem could create opportunities across satellite manufacturing, payload systems, satellite communications and other parts of the space value chain.
The firm is also bullish on semiconductors and advanced electronics. While India has developed a sizeable electronics assembly and manufacturing ecosystem, the next opportunity could come from deeper participation in components, sensors and other parts of the supply chain.
Piper Serica’s Bharat Tech Fund follows its first fund, launched in 2022 with a corpus of Rs 270 crore. That fund invested in approximately 34 deep-tech startups.
Modi said India has the talent and ecosystem required to develop globally competitive technology companies, but continued investment in engineering skills will be important as the country expands its industrial and deep-tech capabilities.
India, already the world’s third-largest startup hub after the US and China, is increasingly moving into advanced areas such as artificial intelligence, quantum computing, robotics, space technology and data centres.
