Riceberg Ventures launches $20 Mn fund for deeptech startups

Early-stage venture capital firm Riceberg Ventures has launched a $20 million fund to support deeptech startups, including space-tech.

Backed by a consortium of Limited Partners (LPs), the fund aims to address the funding gap in this sector by providing early-stage capital to these startups. Apart from follow-on fundraising for its portfolio companies, it provides hands-on support for achieving product-market fit (PMF) through its global network of deeptech business and technical leaders.

According to Riceberg Ventures, the fund is designed to invest in 25-30 startups across the globe, with an average check size of $0.5 million. Capital will be invested in high-growth sectors such as spacetech, medtech/lifesciences, cybersecurity, AI, robotics, novel energy, semiconductors, and quantum computing.

Co-founded in 2023 by Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola, Riceberg Ventures is an early-stage venture capital firm dedicated to supporting deeptech startups. With a $20 million fund and operations spanning Europe, the US, and India, the firm focuses on emerging sectors. It aims to act as a catalyst for Indian deeptech startups, helping them develop advanced technology-driven solutions.

Riceberg Ventures says that it leverages its deep network of leading scientists and experts to guide startups from ideation to commercialization. Additionally, its presence in the US and Europe provides portfolio companies with access to a global network of top venture capitalists, facilitating co-investments and follow-on funding.

Riceberg Ventures has also collaborated with E2MC Ventures and operates KickSky, India’s first dedicated spacetech accelerator. The program recently launched its second cohort, which is set to go live in January 2025.

Riceberg Ventures has currently invested in startups such as Manastu Space, Signatur Biosciences, EtherealX, Keyron Medical, and Arch0. The VC firm is supported by Uday Desai and Prasad Chaganti.